VDY.TO vs. PFIA.TO
VDY.TO (Vanguard FTSE Canadian High Dividend Yield Index ETF) and PFIA.TO (Picton Mahoney Fortified Income Alternative Fund) are both exchange-traded funds - VDY.TO is a Dividend fund tracking the FTSE Canada High Dividend Yield Index, while PFIA.TO is a fund fund. Over the past 5 years, VDY.TO returned 19.33%/yr vs 3.42%/yr for PFIA.TO. At a 0.06 correlation, their price movements are largely independent.
Performance
VDY.TO vs. PFIA.TO - Performance Comparison
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Returns By Period
In the year-to-date period, VDY.TO achieves a 29.53% return, which is significantly higher than PFIA.TO's 1.05% return.
VDY.TO
- 1D
- -0.05%
- 1M
- 4.80%
- 6M
- 26.11%
- YTD
- 29.53%
- 1Y
- 52.78%
- 3Y*
- 28.81%
- 5Y*
- 19.33%
- 10Y*
- 14.77%
PFIA.TO
- 1D
- 0.00%
- 1M
- 0.13%
- 6M
- 0.66%
- YTD
- 1.05%
- 1Y
- 3.59%
- 3Y*
- 5.96%
- 5Y*
- 3.42%
- 10Y*
- —
VDY.TO vs. PFIA.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VDY.TO Vanguard FTSE Canadian High Dividend Yield Index ETF | 29.53% | 29.21% | 21.44% | 8.41% | -0.23% | 36.60% | -1.37% | 4.93% |
PFIA.TO Picton Mahoney Fortified Income Alternative Fund | 1.05% | 5.42% | 7.76% | 7.26% | -3.42% | 3.17% | 9.26% | 3.58% |
Correlation
The correlation between VDY.TO and PFIA.TO is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2019 | 0.06 |
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Return for Risk
VDY.TO vs. PFIA.TO — Risk / Return Rank
VDY.TO
PFIA.TO
VDY.TO vs. PFIA.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO) and Picton Mahoney Fortified Income Alternative Fund (PFIA.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.
| VDY.TO | PFIA.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.75 | ||
| Sortino ratioReturn per unit of downside risk | +6.66 | ||
| Omega ratioGain probability vs. loss probability | 2.24 | 1.29 | +0.95 |
| Calmar ratioReturn relative to maximum drawdown | 17.01 | 2.66 | +14.35 |
| Martin ratioReturn relative to average drawdown | 68.90 | 7.44 | +61.46 |
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Drawdowns
VDY.TO vs. PFIA.TO - Drawdown Comparison
The maximum VDY.TO drawdown since its inception was -39.21%, which is greater than PFIA.TO's maximum drawdown of -17.12%. Use the drawdown chart below to compare losses from any high point for VDY.TO and PFIA.TO.
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Drawdown Indicators
| VDY.TO | PFIA.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.21% | -17.12% | -22.09% |
Max Drawdown (1Y)Largest decline over 1 year | -3.12% | -1.36% | -1.76% |
Max Drawdown (3Y)Largest decline over 3 years | -10.38% | -1.47% | -8.91% |
Max Drawdown (5Y)Largest decline over 5 years | -16.17% | -6.46% | -9.71% |
Max Drawdown (10Y)Largest decline over 10 years | -39.21% | — | — |
Current DrawdownCurrent decline from peak | -0.05% | 0.00% | -0.05% |
Average DrawdownAverage peak-to-trough decline | -4.44% | -1.11% | -3.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 0.48% | +0.29% |
Volatility
VDY.TO vs. PFIA.TO - Volatility Comparison
Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO) has a higher volatility of 2.31% compared to Picton Mahoney Fortified Income Alternative Fund (PFIA.TO) at 0.61%. This indicates that VDY.TO's price experiences larger fluctuations and is considered to be riskier than PFIA.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VDY.TO | PFIA.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.31% | 0.61% | +1.70% |
Volatility (6M)Calculated over the trailing 6-month period | 6.87% | 1.93% | +4.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.52% | 2.43% | +6.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.56% | 4.19% | +7.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.90% | 6.36% | +9.54% |
Dividends
VDY.TO vs. PFIA.TO - Dividend Comparison
VDY.TO's dividend yield for the trailing twelve months is around 2.98%, less than PFIA.TO's 4.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PFIA.TO Picton Mahoney Fortified Income Alternative Fund | 4.66% | 3.97% | 3.66% | 5.63% | 4.69% | 4.25% | 6.02% | 1.66% | 0.00% | 0.00% | 0.00% | 0.00% |
VDY.TO Vanguard FTSE Canadian High Dividend Yield Index ETF | 2.98% | 3.59% | 4.37% | 4.64% | 4.42% | 3.46% | 4.59% | 4.25% | 4.44% | 3.42% | 3.25% | 4.11% |
Frequently Asked Questions
VDY.TO and PFIA.TO have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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