XCV.TO vs. PDF.TO
XCV.TO (iShares Canadian Value Index ETF) and PDF.TO (Purpose Core Dividend Fund) are both exchange-traded funds - XCV.TO is a Canada Equities fund tracking the Morningstar Canada GR CAD, while PDF.TO is a Dividend fund actively managed by Purpose. XCV.TO is passively managed, while PDF.TO is actively managed. Over the past 10 years, XCV.TO returned 13.87%/yr vs 9.70%/yr for PDF.TO. Their 0.68 correlation means they have sometimes moved together and sometimes differently. XCV.TO charges 0.55%/yr vs 0.66%/yr for PDF.TO.
Performance
XCV.TO vs. PDF.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XCV.TO achieves a 27.71% return, which is significantly higher than PDF.TO's 20.56% return. Over the past 10 years, XCV.TO has outperformed PDF.TO with an annualized return of 13.87%, while PDF.TO has yielded a comparatively lower 9.70% annualized return.
XCV.TO
- 1D
- -0.11%
- 1M
- 3.16%
- 6M
- 26.58%
- YTD
- 27.71%
- 1Y
- 51.21%
- 3Y*
- 28.71%
- 5Y*
- 20.56%
- 10Y*
- 13.87%
- ALL TIME*
- 9.77%
PDF.TO
- 1D
- 0.07%
- 1M
- 1.78%
- 6M
- 17.65%
- YTD
- 20.56%
- 1Y
- 35.64%
- 3Y*
- 19.06%
- 5Y*
- 12.16%
- 10Y*
- 9.70%
- ALL TIME*
- 10.47%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$197.57K | CA$214.74K | CA$225.86K | |
| CA$688.25K | CA$989.94K | CA$973.13K |
XCV.TO vs. PDF.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XCV.TO iShares Canadian Value Index ETF | 27.71% | 32.30% | 21.41% | 9.62% | 1.98% | 32.81% | -2.43% | 18.14% | -11.06% | 8.85% |
PDF.TO Purpose Core Dividend Fund | 20.56% | 20.44% | 13.61% | 4.13% | -1.74% | 24.35% | -0.79% | 23.25% | -11.14% | 7.37% |
Correlation
The correlation between XCV.TO and PDF.TO is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.79 |
Correlation (3Y) Balances recent behavior with more history. | 0.78 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.77 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.69 |
Correlation (All Time) Calculated using the full available price history since Sep 3, 2013 | 0.68 |
The correlation between XCV.TO and PDF.TO shifts across timeframes, from 0.68 (all time) to 0.79 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XCV.TO vs. PDF.TO — Risk / Return Rank
XCV.TO
PDF.TO
XCV.TO vs. PDF.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Canadian Value Index ETF (XCV.TO) and Purpose Core Dividend Fund (PDF.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.
| XCV.TO | PDF.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.24 | ||
| Sortino ratioReturn per unit of downside risk | +1.02 | ||
| Omega ratioGain probability vs. loss probability | 2.08 | 1.78 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 13.23 | 5.54 | +7.68 |
| Martin ratioReturn relative to average drawdown | 49.58 | 25.22 | +24.36 |
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Drawdowns
XCV.TO vs. PDF.TO - Drawdown Comparison
The maximum XCV.TO drawdown since its inception was -52.45%, which is greater than PDF.TO's maximum drawdown of -36.00%. Use the drawdown chart below to compare losses from any high point for XCV.TO and PDF.TO.
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Drawdown Indicators
| XCV.TO | PDF.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.45% | -36.00% | -16.45% |
Max Drawdown (1Y)Largest decline over 1 year | -3.84% | -6.35% | +2.51% |
Max Drawdown (3Y)Largest decline over 3 years | -9.71% | -9.28% | -0.43% |
Max Drawdown (5Y)Largest decline over 5 years | -18.06% | -15.81% | -2.25% |
Max Drawdown (10Y)Largest decline over 10 years | -41.18% | -36.00% | -5.18% |
Current DrawdownCurrent decline from peak | -0.75% | -0.76% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -6.56% | -3.44% | -3.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 1.39% | -0.37% |
Volatility
XCV.TO vs. PDF.TO - Volatility Comparison
iShares Canadian Value Index ETF (XCV.TO) and Purpose Core Dividend Fund (PDF.TO) have volatilities of 2.87% and 2.82%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XCV.TO | PDF.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.87% | 2.82% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 7.00% | 6.95% | +0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.39% | 8.46% | +0.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.76% | 10.35% | +2.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.51% | 13.58% | +1.93% |
XCV.TO vs. PDF.TO - Expense Ratio Comparison
XCV.TO has a 0.55% expense ratio, which is lower than PDF.TO's 0.66% expense ratio.
Dividends
XCV.TO vs. PDF.TO - Dividend Comparison
XCV.TO's dividend yield for the trailing twelve months is around 2.17%, less than PDF.TO's 2.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PDF.TO Purpose Core Dividend Fund | 2.78% | 3.49% | 3.82% | 4.17% | 3.77% | 3.19% | 3.84% | 3.65% | 4.33% | 3.50% | 3.38% | 3.40% |
XCV.TO iShares Canadian Value Index ETF | 2.17% | 2.78% | 3.84% | 4.00% | 3.28% | 2.18% | 3.46% | 3.16% | 3.23% | 2.49% | 2.57% | 3.26% |
Frequently Asked Questions
XCV.TO and PDF.TO have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XCV.TO is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XCV.TO is cheaper with a 0.55% expense ratio, compared with 0.66% for PDF.TO.
XCV.TO is categorized as Canada Equities, while PDF.TO is Dividend. They also come from different issuers: iShares and Purpose. Their fees differ too: 0.55% for XCV.TO and 0.66% for PDF.TO.
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