VGG.TO vs. PDC.TO

Last updated Aug 4, 2026

VGG.TO (Vanguard U.S. Dividend Appreciation Index ETF) and PDC.TO (Invesco Canadian Dividend Index ETF) are both Dividend funds - VGG.TO tracks the S&P U.S. Dividend Growers Index while PDC.TO tracks the NASDAQ Select Canadian Dividend Index. Both are passively managed. Over the past 10 years, VGG.TO returned 13.23%/yr vs 11.43%/yr for PDC.TO. Their 0.46 correlation means their historical movements had little consistent relationship. VGG.TO charges 0.31%/yr vs 0.58%/yr for PDC.TO.

Performance

VGG.TO vs. PDC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard U.S. Dividend Appreciation Index ETF (VGG.TO) and Invesco Canadian Dividend Index ETF (PDC.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VGG.TO achieves a 11.79% return, which is significantly lower than PDC.TO's 25.42% return. Over the past 10 years, VGG.TO has outperformed PDC.TO with an annualized return of 13.23%, while PDC.TO has yielded a comparatively lower 11.43% annualized return.

VGG.TO

• 1D: -0.16%
• 1M: -1.33%
• 6M: 9.17%
• YTD: 11.79%
• 1Y: 20.71%
• 3Y*: 16.46%
• 5Y*: 12.51%
• 10Y*: 13.23%
• ALL TIME*: 14.25%

PDC.TO

• 1D: -0.32%
• 1M: 2.24%
• 6M: 21.53%
• YTD: 25.42%
• 1Y: 38.86%
• 3Y*: 22.41%
• 5Y*: 14.54%
• 10Y*: 11.43%
• ALL TIME*: 10.54%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PDC.TO Invesco Canadian Dividend Index ETF	CA$73.84K	CA$71.47K	CA$90.55K
VGG.TO Vanguard U.S. Dividend Appreciation Index ETF	CA$900.74K	CA$1.26M	CA$1.26M

VGG.TO vs. PDC.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VGG.TO Vanguard U.S. Dividend Appreciation Index ETF	11.79%	8.61%	26.49%	11.58%	-4.21%	22.23%	12.67%	23.32%	5.20%	13.99%
PDC.TO Invesco Canadian Dividend Index ETF	25.42%	21.80%	16.38%	6.97%	-4.17%	30.14%	-5.48%	25.00%	-11.85%	10.27%

Correlation

The correlation between VGG.TO and PDC.TO is 0.48, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.48
Correlation (3Y) Balances recent behavior with more history.	0.49
Correlation (5Y) Shows whether the relationship held over a longer period.	0.50
Correlation (10Y) Provides a long-term view across more market conditions.	0.50
Correlation (All Time) Calculated using the full available price history since Aug 12, 2013	0.46

The correlation between VGG.TO and PDC.TO has been stable across timeframes, ranging from 0.46 to 0.50 - a consistent structural relationship.

VGG.TO vs. PDC.TO - Sectors Allocation Comparison

Sectors	VGG.TO	PDC.TO
Technology	29.0%	0.7%
Financial Services	19.9%	45.6%
Healthcare	16.6%	-
Industrials	11.3%	1.1%
Consumer Defensive	9.3%	0.8%
Consumer Cyclical	4.4%	6.7%
Basic Materials	3.3%	3.7%
Energy	3.2%	20.4%
Utilities	2.9%	14.2%
Communication Services	0.5%	4.4%
Real Estate	-	2.4%

Return for Risk

VGG.TO vs. PDC.TO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VGG.TO

VGG.TO Risk / Return Rank: 78
VGG.TO Sharpe Ratio Rank: 79
VGG.TO Sortino Ratio Rank: 80
VGG.TO Omega Ratio Rank: 76
VGG.TO Calmar Ratio Rank: 76
VGG.TO Martin Ratio Rank: 77

PDC.TO

PDC.TO Risk / Return Rank: 98
PDC.TO Sharpe Ratio Rank: 98
PDC.TO Sortino Ratio Rank: 98
PDC.TO Omega Ratio Rank: 98
PDC.TO Calmar Ratio Rank: 98
PDC.TO Martin Ratio Rank: 98

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.

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

This table presents a comparison of risk-adjusted performance metrics for Vanguard U.S. Dividend Appreciation Index ETF (VGG.TO) 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.

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.

	VGG.TO	PDC.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.84	4.44	-2.59
Sortino ratio: Return per unit of downside risk	2.64	5.75	-3.11
Omega ratio: Gain probability vs. loss probability	1.33	1.87	-0.54
Calmar ratio: Return relative to maximum drawdown	2.73	9.99	-7.25
Martin ratio: Return relative to average drawdown	10.04	36.59	-26.55

VGG.TO vs. PDC.TO - Sharpe Ratio Comparison

The current VGG.TO Sharpe Ratio is 1.84, which is lower than the PDC.TO Sharpe Ratio of 4.44. The chart below compares the historical Sharpe Ratios of VGG.TO 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.

Drawdowns

VGG.TO vs. PDC.TO - Drawdown Comparison

The maximum VGG.TO drawdown since its inception was -24.58%, smaller than the maximum PDC.TO drawdown of -41.93%. Use the drawdown chart below to compare losses from any high point for VGG.TO and PDC.TO.

Drawdown Indicators

	VGG.TO	PDC.TO	Difference
Max Drawdown Largest peak-to-trough decline	-24.58%	-41.93%	+17.35%
Max Drawdown (1Y) Largest decline over 1 year	-7.07%	-3.86%	-3.21%
Max Drawdown (3Y) Largest decline over 3 years	-15.56%	-10.43%	-5.13%
Max Drawdown (5Y) Largest decline over 5 years	-18.52%	-17.98%	-0.54%
Max Drawdown (10Y) Largest decline over 10 years	-24.58%	-41.93%	+17.35%
Current Drawdown Current decline from peak	-1.57%	-1.06%	-0.51%
Average Drawdown Average peak-to-trough decline	-2.90%	-4.47%	+1.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	1.05%	+0.87%

Volatility

VGG.TO vs. PDC.TO - Volatility Comparison

Vanguard U.S. Dividend Appreciation Index ETF (VGG.TO) has a higher volatility of 3.13% compared to Invesco Canadian Dividend Index ETF (PDC.TO) at 2.78%. This indicates that VGG.TO'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

	VGG.TO	PDC.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.13%	2.78%	+0.35%
Volatility (6M) Calculated over the trailing 6-month period	7.77%	6.60%	+1.17%
Volatility (1Y) Calculated over the trailing 1-year period	10.52%	8.70%	+1.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.70%	10.85%	+1.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.97%	15.28%	-0.31%

VGG.TO vs. PDC.TO - Expense Ratio Comparison

VGG.TO has a 0.31% expense ratio, which is lower than PDC.TO's 0.58% expense ratio.

Dividends

VGG.TO vs. PDC.TO - Dividend Comparison

VGG.TO's dividend yield for the trailing twelve months is around 1.03%, less than PDC.TO's 3.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PDC.TO Invesco Canadian Dividend Index ETF	3.17%	3.96%	4.48%	4.77%	4.24%	3.65%	5.07%	4.33%	5.12%	4.23%	3.77%	4.39%
VGG.TO Vanguard U.S. Dividend Appreciation Index ETF	1.03%	1.16%	1.23%	1.37%	1.35%	1.21%	1.25%	1.24%	1.50%	1.45%	1.63%	1.70%

Frequently Asked Questions

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

VGG.TO 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, VGG.TO or PDC.TO?

On fees, VGG.TO is cheaper at 0.31% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VGG.TO or PDC.TO?

VGG.TO is cheaper with a 0.31% expense ratio, compared with 0.58% for PDC.TO.

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

VGG.TO tracks S&P U.S. Dividend Growers Index, while PDC.TO tracks NASDAQ Select Canadian Dividend Index. They also come from different issuers: Vanguard and Invesco. Their fees differ too: 0.31% for VGG.TO and 0.58% for PDC.TO.