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UDA.TO vs. PDIV.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

UDA.TO vs. PDIV.TO

Last updated Aug 4, 2026
Documentation

UDA.TO (Caldwell U.S. Dividend Advantage Fund) and PDIV.TO (Purpose Enhanced Dividend Fund ETF) are both Dividend funds. Both are actively managed. Over the past 5 years, UDA.TO returned 8.55%/yr vs 8.19%/yr for PDIV.TO. Their 0.17 correlation means their historical movements had little consistent relationship. UDA.TO charges 0.73%/yr vs 0.77%/yr for PDIV.TO.

Performance

UDA.TO vs. PDIV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Caldwell U.S. Dividend Advantage Fund (UDA.TO) and Purpose Enhanced Dividend Fund ETF (PDIV.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, UDA.TO achieves a 12.32% return, which is significantly higher than PDIV.TO's 11.04% return.

UDA.TO

1D
-0.19%
1M
-3.99%
6M
10.41%
YTD
12.32%
1Y
18.58%
3Y*
11.85%
5Y*
8.55%
10Y*
—
ALL TIME*
12.57%

PDIV.TO

1D
0.00%
1M
1.59%
6M
9.14%
YTD
11.04%
1Y
21.28%
3Y*
12.15%
5Y*
8.19%
10Y*
9.12%
ALL TIME*
9.26%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

PDIV.TO

Purpose Enhanced Dividend Fund ETF
CA$121.14KCA$151.92KCA$204.94K

UDA.TO

Caldwell U.S. Dividend Advantage Fund
CA$1.94KCA$933.66CA$5.97K

UDA.TO vs. PDIV.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
UDA.TO
Caldwell U.S. Dividend Advantage Fund		12.32%-3.43%31.01%1.33%-3.90%21.59%26.33%
PDIV.TO
Purpose Enhanced Dividend Fund ETF		11.04%14.66%10.71%4.64%-4.39%20.18%33.55%

Correlation

The correlation between UDA.TO and PDIV.TO is 0.15, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.15

Correlation (3Y)
Balances recent behavior with more history.

0.11

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.19

Correlation (All Time)
Calculated using the full available price history since Mar 18, 2020

0.17

UDA.TO vs. PDIV.TO - Sectors Allocation Comparison

Sectors
UDA.TO
PDIV.TO

Industrials

44.2%
6.5%

Technology

17.3%
16.2%

Financial Services

10.6%
36.9%

Consumer Cyclical

10.5%
7.8%

Healthcare

5.8%
6.0%

Basic Materials

4.4%
3.6%

Consumer Defensive

4.4%
3.2%

Real Estate

2.8%

-

Communication Services

-

3.5%

Energy

-

11.9%

Utilities

-

4.3%

Industrials

UDA.TO
44.2%
PDIV.TO
6.5%

Technology

UDA.TO
17.3%
PDIV.TO
16.2%

Financial Services

UDA.TO
10.6%
PDIV.TO
36.9%

Consumer Cyclical

UDA.TO
10.5%
PDIV.TO
7.8%

Healthcare

UDA.TO
5.8%
PDIV.TO
6.0%

Basic Materials

UDA.TO
4.4%
PDIV.TO
3.6%

Consumer Defensive

UDA.TO
4.4%
PDIV.TO
3.2%

Real Estate

UDA.TO
2.8%
PDIV.TO

-

Communication Services

UDA.TO

-

PDIV.TO
3.5%

Energy

UDA.TO

-

PDIV.TO
11.9%

Utilities

UDA.TO

-

PDIV.TO
4.3%

Compare stocks, funds, or ETFs

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

Caldwell U.S. Dividend Advantage Fund

Purpose Enhanced Dividend Fund ETF

Often compared with UDA.TO:
UDA.TO vs. VFV.TOUDA.TO vs. PDC.TOUDA.TO vs. PDF.TOUDA.TO vs. ENBE.TOUDA.TO vs. XDUH.TOUDA.TO vs. WXM.TOUDA.TO vs. XDIV.TO
Often compared with PDIV.TO:
PDIV.TO vs. HDIV.TOPDIV.TO vs. MNY.TOPDIV.TO vs. VDY.TOPDIV.TO vs. HYLD.TOPDIV.TO vs. SPYIPDIV.TO vs. PDC.TOPDIV.TO vs. PMIF.TO

Return for Risk

UDA.TO vs. PDIV.TO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
UDA.TO
UDA.TO Risk / Return Rank: 4444
Overall Rank
UDA.TO Sharpe Ratio Rank: 3838
Sharpe Ratio Rank
UDA.TO Sortino Ratio Rank: 3737
Sortino Ratio Rank
UDA.TO Omega Ratio Rank: 3737
Omega Ratio Rank
UDA.TO Calmar Ratio Rank: 5454
Calmar Ratio Rank
UDA.TO Martin Ratio Rank: 5252
Martin Ratio Rank
PDIV.TO
PDIV.TO Risk / Return Rank: 9494
Overall Rank
PDIV.TO Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
PDIV.TO Sortino Ratio Rank: 9595
Sortino Ratio Rank
PDIV.TO Omega Ratio Rank: 9696
Omega Ratio Rank
PDIV.TO Calmar Ratio Rank: 9090
Calmar Ratio Rank
PDIV.TO Martin Ratio Rank: 9393
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

UDA.TO vs. PDIV.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Caldwell U.S. Dividend Advantage Fund (UDA.TO) and Purpose Enhanced Dividend Fund ETF (PDIV.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.

UDA.TOPDIV.TODifference
Sharpe ratioReturn per unit of total volatility
1.04
2.99

-1.95

Sortino ratioReturn per unit of downside risk
1.50
4.10

-2.60

Omega ratioGain probability vs. loss probability

1.19

1.60

-0.41

Calmar ratioReturn relative to maximum drawdown

2.12

3.98

-1.86

Martin ratioReturn relative to average drawdown

6.62

17.35

-10.73

UDA.TO vs. PDIV.TO - Sharpe Ratio Comparison

The current UDA.TO Sharpe Ratio is 1.04, which is lower than the PDIV.TO Sharpe Ratio of 2.99. The chart below compares the historical Sharpe Ratios of UDA.TO and PDIV.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

UDA.TO vs. PDIV.TO - Drawdown Comparison

The maximum UDA.TO drawdown since its inception was -24.77%, smaller than the maximum PDIV.TO drawdown of -30.64%. Use the drawdown chart below to compare losses from any high point for UDA.TO and PDIV.TO.

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Drawdown Indicators

UDA.TOPDIV.TODifference

Max Drawdown

Largest peak-to-trough decline

-24.77%

-30.64%

+5.87%

Max Drawdown (1Y)

Largest decline over 1 year

-8.61%

-5.27%

-3.34%

Max Drawdown (3Y)

Largest decline over 3 years

-24.77%

-8.82%

-15.95%

Max Drawdown (5Y)

Largest decline over 5 years

-24.77%

-15.93%

-8.84%

Max Drawdown (10Y)

Largest decline over 10 years

—

-30.64%

—

Current Drawdown

Current decline from peak

-8.61%

-0.36%

-8.25%

Average Drawdown

Average peak-to-trough decline

-6.70%

-4.31%

-2.39%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.75%

1.21%

+1.54%

Volatility

UDA.TO vs. PDIV.TO - Volatility Comparison

Caldwell U.S. Dividend Advantage Fund (UDA.TO) has a higher volatility of 6.17% compared to Purpose Enhanced Dividend Fund ETF (PDIV.TO) at 2.04%. This indicates that UDA.TO's price experiences larger fluctuations and is considered to be riskier than PDIV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

UDA.TOPDIV.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.17%

2.04%

+4.13%

Volatility (6M)

Calculated over the trailing 6-month period

13.71%

5.58%

+8.13%

Volatility (1Y)

Calculated over the trailing 1-year period

17.61%

7.03%

+10.58%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.08%

10.07%

+6.01%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.75%

13.84%

+1.91%

UDA.TO vs. PDIV.TO - Expense Ratio Comparison

UDA.TO has a 0.73% expense ratio, which is lower than PDIV.TO's 0.77% expense ratio.

Dividends

UDA.TO vs. PDIV.TO - Dividend Comparison

UDA.TO's dividend yield for the trailing twelve months is around 4.13%, less than PDIV.TO's 11.66% yield.

PositionTTM20252024202320222021202020192018201720162015
PDIV.TO
Purpose Enhanced Dividend Fund ETF		11.66%11.23%12.35%11.84%6.38%5.59%6.33%5.85%6.80%25.71%5.38%8.10%
UDA.TO
Caldwell U.S. Dividend Advantage Fund		4.13%4.57%7.06%3.33%4.17%9.14%2.50%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

UDA.TO and PDIV.TO have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, UDA.TO is cheaper at 0.73% per year. The better choice depends on whether you care most about return, fees, risk, or income.

UDA.TO is cheaper with a 0.73% expense ratio, compared with 0.77% for PDIV.TO.

They also come from different issuers: Caldwell and Purpose. Their fees differ too: 0.73% for UDA.TO and 0.77% for PDIV.TO.

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