XDIV.TO vs. PHE.TO
XDIV.TO (iShares Core MSCI Canadian Quality Dividend Index ETF) and PHE.TO (Purpose Tactical Hedged Equity Fund) are both exchange-traded funds - XDIV.TO is a Quality Factor fund tracking the MSCI Canada High Dividend Yield 10% Security Capped Index, while PHE.TO is a Equity Hedged fund actively managed by Purpose. XDIV.TO is passively managed, while PHE.TO is actively managed. Over the past 5 years, XDIV.TO returned 18.81%/yr vs 6.23%/yr for PHE.TO. Their 0.17 correlation means their historical movements had little consistent relationship. XDIV.TO charges 0.11%/yr vs 0.98%/yr for PHE.TO.
Performance
XDIV.TO vs. PHE.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XDIV.TO achieves a 29.20% return, which is significantly higher than PHE.TO's 2.81% return.
XDIV.TO
- 1D
- 0.17%
- 1M
- 5.65%
- 6M
- 27.57%
- YTD
- 29.20%
- 1Y
- 46.87%
- 3Y*
- 25.73%
- 5Y*
- 18.81%
- 10Y*
- —
- ALL TIME*
- 13.97%
PHE.TO
- 1D
- 1.45%
- 1M
- 1.67%
- 6M
- 2.79%
- YTD
- 2.81%
- 1Y
- 8.39%
- 3Y*
- 9.92%
- 5Y*
- 6.23%
- 10Y*
- 7.11%
- ALL TIME*
- 5.89%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$66.46K | CA$30.59K | CA$12.26K | |
| CA$9.07M | CA$8.75M | CA$8.92M |
XDIV.TO vs. PHE.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XDIV.TO iShares Core MSCI Canadian Quality Dividend Index ETF | 29.20% | 25.04% | 19.84% | 11.95% | 0.49% | 33.31% | -7.53% | 25.14% | -9.81% | 8.81% |
PHE.TO Purpose Tactical Hedged Equity Fund | 2.81% | 12.04% | 12.63% | 10.64% | -9.81% | 20.76% | 2.62% | 8.65% | -7.89% | 9.16% |
Correlation
The correlation between XDIV.TO and PHE.TO is 0.01, 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. | 0.01 |
Correlation (3Y) Balances recent behavior with more history. | 0.14 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.21 |
Correlation (All Time) Calculated using the full available price history since Jun 15, 2017 | 0.17 |
The correlation between XDIV.TO and PHE.TO shifts across timeframes, from 0.01 (1 year) to 0.21 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
XDIV.TO vs. PHE.TO — Risk / Return Rank
XDIV.TO
PHE.TO
XDIV.TO vs. PHE.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.TO) and Purpose Tactical Hedged Equity Fund (PHE.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.
| XDIV.TO | PHE.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.29 | ||
| Sortino ratioReturn per unit of downside risk | +6.01 | ||
| Omega ratioGain probability vs. loss probability | 2.11 | 1.19 | +0.92 |
| Calmar ratioReturn relative to maximum drawdown | 16.59 | 1.23 | +15.36 |
| Martin ratioReturn relative to average drawdown | 54.78 | 4.95 | +49.83 |
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Drawdowns
XDIV.TO vs. PHE.TO - Drawdown Comparison
The maximum XDIV.TO drawdown since its inception was -41.29%, which is greater than PHE.TO's maximum drawdown of -22.37%. Use the drawdown chart below to compare losses from any high point for XDIV.TO and PHE.TO.
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Drawdown Indicators
| XDIV.TO | PHE.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.29% | -22.37% | -18.92% |
Max Drawdown (1Y)Largest decline over 1 year | -2.78% | -6.54% | +3.76% |
Max Drawdown (3Y)Largest decline over 3 years | -10.53% | -11.34% | +0.81% |
Max Drawdown (5Y)Largest decline over 5 years | -17.33% | -17.48% | +0.15% |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.38% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -4.34% | -5.22% | +0.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.84% | 1.63% | -0.79% |
Volatility
XDIV.TO vs. PHE.TO - Volatility Comparison
iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.TO) and Purpose Tactical Hedged Equity Fund (PHE.TO) have volatilities of 2.31% and 2.27%, 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
| XDIV.TO | PHE.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.31% | 2.27% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 6.72% | 5.99% | +0.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.65% | 7.62% | +1.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.55% | 9.64% | +0.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.26% | 10.14% | +6.12% |
XDIV.TO vs. PHE.TO - Expense Ratio Comparison
XDIV.TO has a 0.11% expense ratio, which is lower than PHE.TO's 0.98% expense ratio.
Dividends
XDIV.TO vs. PHE.TO - Dividend Comparison
XDIV.TO's dividend yield for the trailing twelve months is around 3.08%, while PHE.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
PHE.TO Purpose Tactical Hedged Equity Fund | 0.00% | 0.20% | 0.00% | 0.00% | 0.76% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XDIV.TO iShares Core MSCI Canadian Quality Dividend Index ETF | 3.08% | 3.90% | 4.50% | 4.42% | 4.15% | 3.76% | 4.85% | 4.24% | 5.13% | 1.92% |
Frequently Asked Questions
XDIV.TO and PHE.TO have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XDIV.TO is cheaper at 0.11% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XDIV.TO is cheaper with a 0.11% expense ratio, compared with 0.98% for PHE.TO.
XDIV.TO is categorized as Quality Factor, while PHE.TO is Equity Hedged. They also come from different issuers: iShares and Purpose. Their fees differ too: 0.11% for XDIV.TO and 0.98% for PHE.TO.
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