PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
VCN.TO vs. PXC.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VCN.TO vs. PXC.TO

Last updated Jun 25, 2026

VCN.TO (Vanguard FTSE Canada All Cap Index ETF) and PXC.TO (Invesco RAFI Canadian Index ETF) are both Canada Equities funds - VCN.TO tracks the FTSE Canada All Cap Domestic Index while PXC.TO tracks the RAFI Canada Index. Both are passively managed. Over the past 10 years, VCN.TO returned 12.74%/yr vs 13.41%/yr for PXC.TO. A 0.68 correlation means they provide meaningful diversification when combined.

Performance

VCN.TO vs. PXC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard FTSE Canada All Cap Index ETF (VCN.TO) and Invesco RAFI Canadian Index ETF (PXC.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, VCN.TO achieves a 10.34% return, which is significantly lower than PXC.TO's 17.12% return. Over the past 10 years, VCN.TO has underperformed PXC.TO with an annualized return of 12.74%, while PXC.TO has yielded a comparatively higher 13.41% annualized return.

VCN.TO

1D
-0.58%
1M
-0.01%
YTD
10.34%
6M
9.44%
1Y
32.13%
3Y*
24.81%
5Y*
14.73%
10Y*
12.74%

PXC.TO

1D
-0.64%
1M
-0.22%
YTD
17.12%
6M
12.82%
1Y
36.76%
3Y*
25.64%
5Y*
16.75%
10Y*
13.41%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VCN.TO vs. PXC.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VCN.TO
Vanguard FTSE Canada All Cap Index ETF		10.34%31.00%22.16%12.29%-5.76%25.65%4.83%22.09%-9.09%8.44%
PXC.TO
Invesco RAFI Canadian Index ETF		17.12%26.50%19.57%9.28%1.37%34.11%-1.11%19.11%-9.11%7.15%

Correlation

The correlation between VCN.TO and PXC.TO is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.65

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

0.75

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

0.75

Correlation (10Y)
Calculated over the trailing 10-year period

0.74

Correlation (All Time)
Calculated using the full available price history since Aug 13, 2013

0.68

The correlation between VCN.TO and PXC.TO shifts across timeframes, from 0.65 (1 year) to 0.75 (5 years), reflecting how their relationship changes across market environments.

VCN.TO vs. PXC.TO - Sectors Allocation Comparison

Sectors
VCN.TO
PXC.TO

Financial Services

34.4%
34.7%

Basic Materials

18.3%
13.0%

Energy

17.6%
26.6%

Industrials

10.3%
7.2%

Technology

7.5%
2.2%

Consumer Cyclical

3.5%
6.6%

Consumer Defensive

2.7%
2.9%

Utilities

2.7%
3.1%

Real Estate

1.5%
0.8%

Communication Services

1.5%
2.7%

Healthcare

0.1%
0.2%

Financial Services

VCN.TO
34.4%
PXC.TO
34.7%

Basic Materials

VCN.TO
18.3%
PXC.TO
13.0%

Energy

VCN.TO
17.6%
PXC.TO
26.6%

Industrials

VCN.TO
10.3%
PXC.TO
7.2%

Technology

VCN.TO
7.5%
PXC.TO
2.2%

Consumer Cyclical

VCN.TO
3.5%
PXC.TO
6.6%

Consumer Defensive

VCN.TO
2.7%
PXC.TO
2.9%

Utilities

VCN.TO
2.7%
PXC.TO
3.1%

Real Estate

VCN.TO
1.5%
PXC.TO
0.8%

Communication Services

VCN.TO
1.5%
PXC.TO
2.7%

Healthcare

VCN.TO
0.1%
PXC.TO
0.2%

Compare stocks, funds, or ETFs

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

Vanguard FTSE Canada All Cap Index ETF

Invesco RAFI Canadian Index ETF

Often compared with VCN.TO:
VCN.TO vs. VDY.TOVCN.TO vs. VFV.TOVCN.TO vs. VCE.TOVCN.TO vs. XEQT.TOVCN.TO vs. VIU.TOVCN.TO vs. VUN.TOVCN.TO vs. HXT.TO
Often compared with PXC.TO:
PXC.TO vs. PXS.TOPXC.TO vs. INOC.TOPXC.TO vs. XCV.TOPXC.TO vs. QQCE.TOPXC.TO vs. EQL.TOPXC.TO vs. HXCN.TOPXC.TO vs. ESGC.TO

Return for Risk

VCN.TO vs. PXC.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VCN.TO
VCN.TO Risk / Return Rank: 8282
Overall Rank
VCN.TO Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
VCN.TO Sortino Ratio Rank: 8181
Sortino Ratio Rank
VCN.TO Omega Ratio Rank: 8383
Omega Ratio Rank
VCN.TO Calmar Ratio Rank: 7676
Calmar Ratio Rank
VCN.TO Martin Ratio Rank: 8686
Martin Ratio Rank
PXC.TO
PXC.TO Risk / Return Rank: 9696
Overall Rank
PXC.TO Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
PXC.TO Sortino Ratio Rank: 9595
Sortino Ratio Rank
PXC.TO Omega Ratio Rank: 9696
Omega Ratio Rank
PXC.TO Calmar Ratio Rank: 9696
Calmar Ratio Rank
PXC.TO Martin Ratio Rank: 9696
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.

VCN.TO vs. PXC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Canada All Cap Index ETF (VCN.TO) and Invesco RAFI Canadian Index ETF (PXC.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.

VCN.TOPXC.TODifference
Sharpe ratioReturn per unit of total volatility
2.48
3.55

-1.07

Sortino ratioReturn per unit of downside risk
3.22
4.65

-1.43

Omega ratioGain probability vs. loss probability

1.44

1.69

-0.25

Calmar ratioReturn relative to maximum drawdown

3.54

7.95

-4.41

Martin ratioReturn relative to average drawdown

16.27

31.61

-15.34

VCN.TO vs. PXC.TO - Sharpe Ratio Comparison

The current VCN.TO Sharpe Ratio is 2.48, which is lower than the PXC.TO Sharpe Ratio of 3.55. The chart below compares the historical Sharpe Ratios of VCN.TO and PXC.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.

Loading charts...

Drawdowns

VCN.TO vs. PXC.TO - Drawdown Comparison

The maximum VCN.TO drawdown since its inception was -37.32%, smaller than the maximum PXC.TO drawdown of -41.78%. Use the drawdown chart below to compare losses from any high point for VCN.TO and PXC.TO.

Loading charts...

Drawdown Indicators

VCN.TOPXC.TODifference

Max Drawdown

Largest peak-to-trough decline

-37.32%

-41.78%

+4.46%

Max Drawdown (1Y)

Largest decline over 1 year

-9.11%

-4.64%

-4.47%

Max Drawdown (3Y)

Largest decline over 3 years

-12.24%

-10.99%

-1.25%

Max Drawdown (5Y)

Largest decline over 5 years

-16.12%

-15.75%

-0.37%

Max Drawdown (10Y)

Largest decline over 10 years

-37.32%

-41.78%

+4.46%

Current Drawdown

Current decline from peak

-1.84%

-1.30%

-0.54%

Average Drawdown

Average peak-to-trough decline

-3.88%

-5.05%

+1.17%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.98%

1.17%

+0.81%

Volatility

VCN.TO vs. PXC.TO - Volatility Comparison

Vanguard FTSE Canada All Cap Index ETF (VCN.TO) has a higher volatility of 4.17% compared to Invesco RAFI Canadian Index ETF (PXC.TO) at 3.14%. This indicates that VCN.TO's price experiences larger fluctuations and is considered to be riskier than PXC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

VCN.TOPXC.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.17%

3.14%

+1.03%

Volatility (6M)

Calculated over the trailing 6-month period

10.64%

8.56%

+2.08%

Volatility (1Y)

Calculated over the trailing 1-year period

13.02%

10.39%

+2.63%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.11%

13.27%

-0.16%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.99%

16.41%

-1.42%

Dividends

VCN.TO vs. PXC.TO - Dividend Comparison

VCN.TO's dividend yield for the trailing twelve months is around 2.06%, less than PXC.TO's 2.27% yield.

PositionTTM20252024202320222021202020192018201720162015
PXC.TO
Invesco RAFI Canadian Index ETF		2.27%2.65%3.17%3.48%3.42%2.58%3.10%2.92%2.86%2.23%2.57%3.13%
VCN.TO
Vanguard FTSE Canada All Cap Index ETF		2.06%2.27%2.71%3.00%3.17%2.49%2.72%2.88%2.83%2.29%2.36%2.68%

Frequently Asked Questions

VCN.TO and PXC.TO have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VCN.TO tracks FTSE Canada All Cap Domestic Index, while PXC.TO tracks RAFI Canada Index. They also come from different issuers: Vanguard and Invesco.

Portfolio Optimizer

Find the right allocation for VCN.TO and PXC.TO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer