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

UDA.TO vs. XDUH.TO

Last updated Aug 2, 2026
Documentation

UDA.TO (Caldwell U.S. Dividend Advantage Fund) and XDUH.TO (iShares Core MSCI US Quality Dividend Index ETF (CAD-Hedged)) are both exchange-traded funds - UDA.TO is a Dividend fund actively managed by Caldwell, while XDUH.TO is a Quality Factor fund tracking the Morningstar US Market TR CAD. UDA.TO is actively managed, while XDUH.TO is passively managed. Over the past 5 years, UDA.TO returned 8.59%/yr vs 7.12%/yr for XDUH.TO. Their 0.15 correlation means their historical movements had little consistent relationship. UDA.TO charges 0.73%/yr vs 0.16%/yr for XDUH.TO.

Performance

UDA.TO vs. XDUH.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 iShares Core MSCI US Quality Dividend Index ETF (CAD-Hedged) (XDUH.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both investments are quite close, with UDA.TO having a 12.53% return and XDUH.TO slightly higher at 13.00%.

UDA.TO

1D
-2.89%
1M
-3.81%
6M
9.29%
YTD
12.53%
1Y
18.80%
3Y*
12.40%
5Y*
8.59%
10Y*
—
ALL TIME*
12.61%

XDUH.TO

1D
0.22%
1M
0.51%
6M
7.89%
YTD
13.00%
1Y
18.77%
3Y*
10.83%
5Y*
7.12%
10Y*
—
ALL TIME*
7.75%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

UDA.TO

Caldwell U.S. Dividend Advantage Fund
CA$1.94KCA$978.12CA$6.06K

XDUH.TO

iShares Core MSCI US Quality Dividend Index ETF (CAD-Hedged)
CA$63.30KCA$42.57KCA$56.92K

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

2026 (YTD)202520242023202220212020
UDA.TO
Caldwell U.S. Dividend Advantage Fund		12.53%-3.43%31.01%1.33%-3.90%21.59%26.33%
XDUH.TO
iShares Core MSCI US Quality Dividend Index ETF (CAD-Hedged)		13.00%8.08%9.51%5.63%-6.27%22.61%27.85%

Correlation

The correlation between UDA.TO and XDUH.TO is 0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

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

0.06

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

0.11

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

0.17

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

0.15

The correlation between UDA.TO and XDUH.TO shifts across timeframes, from 0.06 (1 year) to 0.17 (5 years), reflecting how their relationship changes across market environments.

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

Sectors
UDA.TO
XDUH.TO

Industrials

44.2%
14.3%

Technology

17.3%
12.9%

Financial Services

10.6%
10.2%

Consumer Cyclical

10.5%
9.3%

Healthcare

5.8%
20.3%

Basic Materials

4.4%
1.8%

Consumer Defensive

4.4%
13.8%

Real Estate

2.8%

-

Communication Services

-

3.6%

Energy

-

10.2%

Utilities

-

3.7%

Industrials

UDA.TO
44.2%
XDUH.TO
14.3%

Technology

UDA.TO
17.3%
XDUH.TO
12.9%

Financial Services

UDA.TO
10.6%
XDUH.TO
10.2%

Consumer Cyclical

UDA.TO
10.5%
XDUH.TO
9.3%

Healthcare

UDA.TO
5.8%
XDUH.TO
20.3%

Basic Materials

UDA.TO
4.4%
XDUH.TO
1.8%

Consumer Defensive

UDA.TO
4.4%
XDUH.TO
13.8%

Real Estate

UDA.TO
2.8%
XDUH.TO

-

Communication Services

UDA.TO

-

XDUH.TO
3.6%

Energy

UDA.TO

-

XDUH.TO
10.2%

Utilities

UDA.TO

-

XDUH.TO
3.7%

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

iShares Core MSCI US Quality Dividend Index ETF (CAD-Hedged)

Often compared with UDA.TO:
UDA.TO vs. VFV.TOUDA.TO vs. PDC.TOUDA.TO vs. ENBE.TOUDA.TO vs. PDF.TOUDA.TO vs. WXM.TOUDA.TO vs. XDIV.TOUDA.TO vs. TBNK.TO
Often compared with XDUH.TO:
XDUH.TO vs. SCHDXDUH.TO vs. XDGH.TOXDUH.TO vs. XDU.TOXDUH.TO vs. XDIV.TOXDUH.TO vs. ZDY.TOXDUH.TO vs. XHD.TOXDUH.TO vs. XDV.TO

Return for Risk

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

Compare historical risk-adjusted metric ranks over the past 12 months.
UDA.TO
UDA.TO Risk / Return Rank: 5353
Overall Rank
UDA.TO Sharpe Ratio Rank: 4646
Sharpe Ratio Rank
UDA.TO Sortino Ratio Rank: 4444
Sortino Ratio Rank
UDA.TO Omega Ratio Rank: 4545
Omega Ratio Rank
UDA.TO Calmar Ratio Rank: 6868
Calmar Ratio Rank
UDA.TO Martin Ratio Rank: 6161
Martin Ratio Rank
XDUH.TO
XDUH.TO Risk / Return Rank: 6868
Overall Rank
XDUH.TO Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
XDUH.TO Sortino Ratio Rank: 6666
Sortino Ratio Rank
XDUH.TO Omega Ratio Rank: 6666
Omega Ratio Rank
XDUH.TO Calmar Ratio Rank: 8080
Calmar Ratio Rank
XDUH.TO Martin Ratio Rank: 6464
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. XDUH.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 iShares Core MSCI US Quality Dividend Index ETF (CAD-Hedged) (XDUH.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.TOXDUH.TODifference
Sharpe ratioReturn per unit of total volatility
1.14
1.49

-0.34

Sortino ratioReturn per unit of downside risk
1.63
2.18

-0.55

Omega ratioGain probability vs. loss probability

1.21

1.28

-0.07

Calmar ratioReturn relative to maximum drawdown

2.39

2.90

-0.51

Martin ratioReturn relative to average drawdown

7.45

7.77

-0.32

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

The current UDA.TO Sharpe Ratio is 1.14, which is comparable to the XDUH.TO Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of UDA.TO and XDUH.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. XDUH.TO - Drawdown Comparison

The maximum UDA.TO drawdown since its inception was -24.77%, smaller than the maximum XDUH.TO drawdown of -34.91%. Use the drawdown chart below to compare losses from any high point for UDA.TO and XDUH.TO.

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Drawdown Indicators

UDA.TOXDUH.TODifference

Max Drawdown

Largest peak-to-trough decline

-24.77%

-34.91%

+10.14%

Max Drawdown (1Y)

Largest decline over 1 year

-8.44%

-6.08%

-2.36%

Max Drawdown (3Y)

Largest decline over 3 years

-24.77%

-14.35%

-10.42%

Max Drawdown (5Y)

Largest decline over 5 years

-24.77%

-17.33%

-7.44%

Current Drawdown

Current decline from peak

-8.44%

-1.41%

-7.03%

Average Drawdown

Average peak-to-trough decline

-6.70%

-4.38%

-2.32%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.70%

2.27%

+0.43%

Volatility

UDA.TO vs. XDUH.TO - Volatility Comparison

Caldwell U.S. Dividend Advantage Fund (UDA.TO) has a higher volatility of 6.49% compared to iShares Core MSCI US Quality Dividend Index ETF (CAD-Hedged) (XDUH.TO) at 4.00%. This indicates that UDA.TO's price experiences larger fluctuations and is considered to be riskier than XDUH.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.TOXDUH.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.49%

4.00%

+2.49%

Volatility (6M)

Calculated over the trailing 6-month period

13.71%

7.60%

+6.11%

Volatility (1Y)

Calculated over the trailing 1-year period

17.61%

11.98%

+5.63%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.09%

13.58%

+2.51%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.76%

16.41%

-0.65%

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

UDA.TO has a 0.73% expense ratio, which is higher than XDUH.TO's 0.16% expense ratio.

Dividends

UDA.TO vs. XDUH.TO - Dividend Comparison

UDA.TO's dividend yield for the trailing twelve months is around 3.89%, more than XDUH.TO's 2.20% yield.

PositionTTM202520242023202220212020201920182017
UDA.TO
Caldwell U.S. Dividend Advantage Fund		3.89%4.57%7.06%3.33%4.17%9.14%2.50%0.00%0.00%0.00%
XDUH.TO
iShares Core MSCI US Quality Dividend Index ETF (CAD-Hedged)		2.20%2.46%2.67%2.55%2.40%2.62%2.67%2.36%2.75%0.76%

Frequently Asked Questions

UDA.TO and XDUH.TO have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XDUH.TO is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XDUH.TO is cheaper with a 0.16% expense ratio, compared with 0.73% for UDA.TO.

UDA.TO is categorized as Dividend, while XDUH.TO is Quality Factor. They also come from different issuers: Caldwell and iShares. Their fees differ too: 0.73% for UDA.TO and 0.16% for XDUH.TO.

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