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PXS.TO vs. XVLU.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PXS.TO vs. XVLU.TO

Last updated Jun 17, 2026

PXS.TO (Invesco RAFI U.S. Index ETF II CAD) and XVLU.TO (iShares MSCI USA Value Factor Index ETF) are both Large Cap Value Equities funds - PXS.TO tracks the RAFI Fundamental Select US 1000 Index while XVLU.TO tracks the MSCI USA Enhanced Value Index. Both are passively managed. Over the past 5 years, PXS.TO returned 15.63%/yr vs 19.07%/yr for XVLU.TO. At a 0.44 correlation, their price movements are largely independent. PXS.TO charges 0.46%/yr vs 0.32%/yr for XVLU.TO.

Performance

PXS.TO vs. XVLU.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Invesco RAFI U.S. Index ETF II CAD (PXS.TO) and iShares MSCI USA Value Factor Index ETF (XVLU.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, PXS.TO achieves a 17.13% return, which is significantly lower than XVLU.TO's 49.14% return.

PXS.TO

1D
0.02%
1M
5.04%
YTD
17.13%
6M
18.30%
1Y
36.32%
3Y*
22.47%
5Y*
15.63%
10Y*
14.57%

XVLU.TO

1D
-1.38%
1M
12.97%
YTD
49.14%
6M
50.61%
1Y
89.41%
3Y*
33.42%
5Y*
19.07%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

PXS.TO vs. XVLU.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
PXS.TO
Invesco RAFI U.S. Index ETF II CAD		17.13%13.64%26.23%12.41%-2.47%32.84%4.71%8.17%
XVLU.TO
iShares MSCI USA Value Factor Index ETF		49.14%26.17%15.37%11.09%-8.87%28.64%-3.66%7.29%

Correlation

The correlation between PXS.TO and XVLU.TO is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.25

Correlation (3Y)
Calculated over the trailing 3-year period

0.41

Correlation (5Y)
Calculated over the trailing 5-year period

0.43

Correlation (All Time)
Calculated using the full available price history since Sep 10, 2019

0.44

The correlation between PXS.TO and XVLU.TO shifts across timeframes, from 0.25 (1 year) to 0.44 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco RAFI U.S. Index ETF II CAD

iShares MSCI USA Value Factor Index ETF

Often compared with PXS.TO:
PXS.TO vs. ESGC.TOPXS.TO vs. INAI.TOPXS.TO vs. CUD.TOPXS.TO vs. EQL.TOPXS.TO vs. EQLI.TOPXS.TO vs. ESG.TOPXS.TO vs. FCUV.TO
Often compared with XVLU.TO:
XVLU.TO vs. VFV.TOXVLU.TO vs. VLUEXVLU.TO vs. XQLT.TOXVLU.TO vs. XSMC.TOXVLU.TO vs. FCUV.TOXVLU.TO vs. XDU.TOXVLU.TO vs. XDG.TO

Return for Risk

PXS.TO vs. XVLU.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PXS.TO
PXS.TO Risk / Return Rank: 9595
Overall Rank
PXS.TO Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
PXS.TO Sortino Ratio Rank: 9595
Sortino Ratio Rank
PXS.TO Omega Ratio Rank: 9494
Omega Ratio Rank
PXS.TO Calmar Ratio Rank: 9595
Calmar Ratio Rank
PXS.TO Martin Ratio Rank: 9595
Martin Ratio Rank
XVLU.TO
XVLU.TO Risk / Return Rank: 9797
Overall Rank
XVLU.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
XVLU.TO Sortino Ratio Rank: 9797
Sortino Ratio Rank
XVLU.TO Omega Ratio Rank: 9696
Omega Ratio Rank
XVLU.TO Calmar Ratio Rank: 9898
Calmar Ratio Rank
XVLU.TO Martin Ratio Rank: 9898
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PXS.TO vs. XVLU.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco RAFI U.S. Index ETF II CAD (PXS.TO) and iShares MSCI USA Value Factor Index ETF (XVLU.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

PXS.TOXVLU.TODifference
Sharpe ratioReturn per unit of total volatility
3.36
4.93

-1.58

Sortino ratioReturn per unit of downside risk
4.93
6.19

-1.27

Omega ratioGain probability vs. loss probability

1.66

1.84

-0.18

Calmar ratioReturn relative to maximum drawdown

7.58

12.46

-4.88

Martin ratioReturn relative to average drawdown

27.00

48.99

-21.99

PXS.TO vs. XVLU.TO - Sharpe Ratio Comparison

The current PXS.TO Sharpe Ratio is 3.36, which is lower than the XVLU.TO Sharpe Ratio of 4.93. The chart below compares the historical Sharpe Ratios of PXS.TO and XVLU.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

PXS.TO vs. XVLU.TO - Drawdown Comparison

The maximum PXS.TO drawdown since its inception was -31.87%, smaller than the maximum XVLU.TO drawdown of -34.40%. Use the drawdown chart below to compare losses from any high point for PXS.TO and XVLU.TO.

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Drawdown Indicators

PXS.TOXVLU.TODifference

Max Drawdown

Largest peak-to-trough decline

-31.87%

-34.40%

+2.53%

Max Drawdown (1Y)

Largest decline over 1 year

-4.88%

-7.22%

+2.34%

Max Drawdown (3Y)

Largest decline over 3 years

-16.36%

-17.13%

+0.77%

Max Drawdown (5Y)

Largest decline over 5 years

-16.36%

-20.16%

+3.80%

Max Drawdown (10Y)

Largest decline over 10 years

-31.87%

—

—

Current Drawdown

Current decline from peak

0.00%

-1.38%

+1.38%

Average Drawdown

Average peak-to-trough decline

-3.36%

-6.46%

+3.10%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.37%

1.83%

-0.46%

Volatility

PXS.TO vs. XVLU.TO - Volatility Comparison

The current volatility for Invesco RAFI U.S. Index ETF II CAD (PXS.TO) is 3.93%, while iShares MSCI USA Value Factor Index ETF (XVLU.TO) has a volatility of 7.86%. This indicates that PXS.TO experiences smaller price fluctuations and is considered to be less risky than XVLU.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PXS.TOXVLU.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.93%

7.86%

-3.93%

Volatility (6M)

Calculated over the trailing 6-month period

8.40%

15.32%

-6.92%

Volatility (1Y)

Calculated over the trailing 1-year period

11.04%

18.22%

-7.18%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.28%

16.17%

-2.89%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.28%

18.91%

-3.63%

PXS.TO vs. XVLU.TO - Expense Ratio Comparison

PXS.TO has a 0.46% expense ratio, which is higher than XVLU.TO's 0.32% expense ratio.

Dividends

PXS.TO vs. XVLU.TO - Dividend Comparison

PXS.TO's dividend yield for the trailing twelve months is around 1.23%, more than XVLU.TO's 1.13% yield.

PositionTTM20252024202320222021202020192018201720162015
PXS.TO
Invesco RAFI U.S. Index ETF II CAD		1.23%1.49%1.53%1.53%1.80%1.51%2.51%1.91%1.84%1.50%1.62%1.40%
XVLU.TO
iShares MSCI USA Value Factor Index ETF		1.13%1.75%2.17%2.26%2.51%2.03%2.72%0.68%0.00%0.00%0.00%0.00%

Frequently Asked Questions

PXS.TO and XVLU.TO have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XVLU.TO is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XVLU.TO is cheaper with a 0.32% expense ratio, compared with 0.46% for PXS.TO.

PXS.TO tracks RAFI Fundamental Select US 1000 Index, while XVLU.TO tracks MSCI USA Enhanced Value Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.46% for PXS.TO and 0.32% for XVLU.TO.

Portfolio Optimizer

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