PZW.TO vs. EVO.TO
PZW.TO (Invesco FTSE RAFI Global Small-Mid ETF) and EVO.TO (Evovest Global Equity ETF) are both Global Equities funds. PZW.TO is passively managed, while EVO.TO is actively managed. Over the past year, PZW.TO returned 32.19% vs 2.29% for EVO.TO. At a 0.37 correlation, their price movements are largely independent.
Performance
PZW.TO vs. EVO.TO - Performance Comparison
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Returns By Period
In the year-to-date period, PZW.TO achieves a 17.33% return, which is significantly higher than EVO.TO's 13.09% return.
PZW.TO
- 1D
- 0.29%
- 1M
- 3.40%
- YTD
- 17.33%
- 6M
- 16.85%
- 1Y
- 32.19%
- 3Y*
- 20.71%
- 5Y*
- 10.71%
- 10Y*
- 11.60%
EVO.TO
- 1D
- -0.26%
- 1M
- 4.32%
- YTD
- 13.09%
- 6M
- 12.64%
- 1Y
- 2.29%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PZW.TO vs. EVO.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
PZW.TO Invesco FTSE RAFI Global Small-Mid ETF | 17.33% | 18.48% | 10.82% |
EVO.TO Evovest Global Equity ETF | 13.09% | 4.38% | 1.04% |
Correlation
The correlation between PZW.TO and EVO.TO is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2024 | 0.37 |
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Return for Risk
PZW.TO vs. EVO.TO — Risk / Return Rank
PZW.TO
EVO.TO
PZW.TO vs. EVO.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE RAFI Global Small-Mid ETF (PZW.TO) and Evovest Global Equity ETF (EVO.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.
| PZW.TO | EVO.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.17 | ||
| Sortino ratioReturn per unit of downside risk | +3.10 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.06 | +0.39 |
| Calmar ratioReturn relative to maximum drawdown | 3.79 | 0.12 | +3.67 |
| Martin ratioReturn relative to average drawdown | 13.53 | 0.25 | +13.29 |
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Drawdowns
PZW.TO vs. EVO.TO - Drawdown Comparison
The maximum PZW.TO drawdown since its inception was -32.45%, which is greater than EVO.TO's maximum drawdown of -19.36%. Use the drawdown chart below to compare losses from any high point for PZW.TO and EVO.TO.
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Drawdown Indicators
| PZW.TO | EVO.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.45% | -19.36% | -13.09% |
Max Drawdown (1Y)Largest decline over 1 year | -8.50% | -19.36% | +10.86% |
Max Drawdown (3Y)Largest decline over 3 years | -16.88% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -22.13% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -32.45% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -6.35% | +6.35% |
Average DrawdownAverage peak-to-trough decline | -5.72% | -4.81% | -0.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.38% | 9.35% | -6.97% |
Volatility
PZW.TO vs. EVO.TO - Volatility Comparison
The current volatility for Invesco FTSE RAFI Global Small-Mid ETF (PZW.TO) is 2.90%, while Evovest Global Equity ETF (EVO.TO) has a volatility of 3.95%. This indicates that PZW.TO experiences smaller price fluctuations and is considered to be less risky than EVO.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PZW.TO | EVO.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.90% | 3.95% | -1.05% |
Volatility (6M)Calculated over the trailing 6-month period | 10.41% | 10.53% | -0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.17% | 20.97% | -6.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.65% | 19.83% | -5.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.90% | 19.83% | -3.93% |
Dividends
PZW.TO vs. EVO.TO - Dividend Comparison
PZW.TO's dividend yield for the trailing twelve months is around 1.65%, more than EVO.TO's 0.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EVO.TO Evovest Global Equity ETF | 0.59% | 0.67% | 0.82% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PZW.TO Invesco FTSE RAFI Global Small-Mid ETF | 1.65% | 1.97% | 2.12% | 3.23% | 1.90% | 1.93% | 1.52% | 2.26% | 1.78% | 1.57% | 1.09% | 0.96% |
Frequently Asked Questions
PZW.TO and EVO.TO have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Invesco and National Bank Investments.
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