SCDL vs. PDC.TO

Last updated Jun 4, 2026

SCDL (ETRACS 2x Leveraged U.S. Dividend Factor TR ETN) and PDC.TO (Invesco Canadian Dividend Index ETF) are both exchange-traded funds - SCDL is a Leveraged Equities fund tracking the Dow Jones U.S. Dividend 100 (200%), while PDC.TO is a Dividend fund managed by Invesco. Over the past 5 years, SCDL returned 9.40%/yr vs 10.00%/yr for PDC.TO. A 0.67 correlation means they provide meaningful diversification when combined. SCDL charges 0.95%/yr vs 0.58%/yr for PDC.TO.

Performance

SCDL vs. PDC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS 2x Leveraged U.S. Dividend Factor TR ETN (SCDL) and Invesco Canadian Dividend Index ETF (PDC.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SCDL is traded in USD, while PDC.TO is traded in CAD. To make them comparable, the PDC.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, SCDL achieves a 37.06% return, which is significantly higher than PDC.TO's 17.55% return.

SCDL

• 1D: 0.51%
• 1M: 5.01%
• YTD: 37.06%
• 6M: 35.80%
• 1Y: 50.97%
• 3Y*: 22.79%
• 5Y*: 9.40%
• 10Y*: —

PDC.TO

• 1D: -0.15%
• 1M: 2.59%
• YTD: 17.55%
• 6M: 17.76%
• 1Y: 33.65%
• 3Y*: 18.79%
• 5Y*: 10.00%
• 10Y*: 10.06%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SCDL vs. PDC.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SCDL ETRACS 2x Leveraged U.S. Dividend Factor TR ETN	37.06%	2.05%	14.99%	0.18%	-13.06%	52.47%
PDC.TO Invesco Canadian Dividend Index ETF	17.55%	27.45%	6.97%	9.17%	-10.74%	24.11%

Correlation

The correlation between SCDL and PDC.TO is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (All Time) Calculated using the full available price history since Feb 8, 2021	0.67

The correlation between SCDL and PDC.TO shifts across timeframes, from 0.48 (1 year) to 0.67 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

SCDL vs. PDC.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SCDL

SCDL Risk / Return Rank: 73
SCDL Sharpe Ratio Rank: 73
SCDL Sortino Ratio Rank: 75
SCDL Omega Ratio Rank: 64
SCDL Calmar Ratio Rank: 87
SCDL Martin Ratio Rank: 68

PDC.TO

PDC.TO Risk / Return Rank: 96
PDC.TO Sharpe Ratio Rank: 96
PDC.TO Sortino Ratio Rank: 96
PDC.TO Omega Ratio Rank: 97
PDC.TO Calmar Ratio Rank: 96
PDC.TO Martin Ratio Rank: 96

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.

SCDL vs. PDC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETRACS 2x Leveraged U.S. Dividend Factor TR ETN (SCDL) and Invesco Canadian Dividend Index ETF (PDC.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.

	SCDL	PDC.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.37	3.44	-1.07
Sortino ratio: Return per unit of downside risk	3.41	4.55	-1.14
Omega ratio: Gain probability vs. loss probability	1.39	1.65	-0.26
Calmar ratio: Return relative to maximum drawdown	5.03	6.75	-1.73
Martin ratio: Return relative to average drawdown	12.65	23.12	-10.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SCDL vs. PDC.TO - Sharpe Ratio Comparison

The current SCDL Sharpe Ratio is 2.37, which is lower than the PDC.TO Sharpe Ratio of 3.44. The chart below compares the historical Sharpe Ratios of SCDL and PDC.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.

Sharpe Ratios by Period

	SCDL	PDC.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.37	3.44	-1.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	0.68	-0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.54	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.45	+0.08

Drawdowns

SCDL vs. PDC.TO - Drawdown Comparison

The maximum SCDL drawdown since its inception was -34.87%, smaller than the maximum PDC.TO drawdown of -47.11%. Use the drawdown chart below to compare losses from any high point for SCDL and PDC.TO.

Drawdown Indicators

	SCDL	PDC.TO	Difference
Max Drawdown Largest peak-to-trough decline	-34.87%	-47.11%	+12.24%
Max Drawdown (1Y) Largest decline over 1 year	-10.19%	-5.00%	-5.19%
Max Drawdown (3Y) Largest decline over 3 years	-32.79%	-15.42%	-17.37%
Max Drawdown (5Y) Largest decline over 5 years	-34.87%	-26.36%	-8.51%
Max Drawdown (10Y) Largest decline over 10 years	—	-47.11%	—
Current Drawdown Current decline from peak	-2.79%	-0.85%	-1.94%
Average Drawdown Average peak-to-trough decline	-11.96%	-8.53%	-3.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.04%	1.46%	+2.58%

Volatility

SCDL vs. PDC.TO - Volatility Comparison

ETRACS 2x Leveraged U.S. Dividend Factor TR ETN (SCDL) has a higher volatility of 5.20% compared to Invesco Canadian Dividend Index ETF (PDC.TO) at 3.01%. This indicates that SCDL's price experiences larger fluctuations and is considered to be riskier than PDC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCDL	PDC.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.20%	3.01%	+2.19%
Volatility (6M) Calculated over the trailing 6-month period	14.82%	8.19%	+6.63%
Volatility (1Y) Calculated over the trailing 1-year period	21.66%	9.83%	+11.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.02%	14.77%	+14.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.89%	18.74%	+10.15%

SCDL vs. PDC.TO - Expense Ratio Comparison

SCDL has a 0.95% expense ratio, which is higher than PDC.TO's 0.58% expense ratio.

Dividends

SCDL vs. PDC.TO - Dividend Comparison

SCDL has not paid dividends to shareholders, while PDC.TO's dividend yield for the trailing twelve months is around 3.26%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PDC.TO Invesco Canadian Dividend Index ETF	3.26%	3.84%	4.29%	4.56%	4.05%	3.49%	4.85%	4.14%	4.90%	4.05%	3.61%	4.20%
SCDL ETRACS 2x Leveraged U.S. Dividend Factor TR ETN	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SCDL and PDC.TO in my portfolio?

SCDL and PDC.TO have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SCDL or PDC.TO?

On fees, PDC.TO is cheaper at 0.58% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SCDL or PDC.TO?

PDC.TO is cheaper with a 0.58% expense ratio, compared with 0.95% for SCDL.

What is the main difference between SCDL and PDC.TO?

SCDL is categorized as Leveraged Equities, while PDC.TO is Dividend. They also come from different issuers: UBS and Invesco. Their fees differ too: 0.95% for SCDL and 0.58% for PDC.TO.