PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
XESG.TO vs. PDC.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XESG.TO vs. PDC.TO

Last updated Jul 25, 2026
Documentation

XESG.TO (iShares ESG Aware MSCI Canada Index ETF) and PDC.TO (Invesco Canadian Dividend Index ETF) are both exchange-traded funds - XESG.TO is a Canada Equities fund tracking the Morningstar Canada GR CAD, while PDC.TO is a Dividend fund tracking the NASDAQ Select Canadian Dividend Index. Both are passively managed. Over the past 5 years, XESG.TO returned 12.78%/yr vs 14.82%/yr for PDC.TO. A 0.69 correlation means they provide meaningful diversification when combined. XESG.TO charges 0.16%/yr vs 0.58%/yr for PDC.TO.

Performance

XESG.TO vs. PDC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares ESG Aware MSCI Canada Index ETF (XESG.TO) and Invesco Canadian Dividend Index ETF (PDC.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, XESG.TO achieves a 12.54% return, which is significantly lower than PDC.TO's 26.09% return.

XESG.TO

1D
0.51%
1M
2.11%
6M
7.81%
YTD
12.54%
1Y
27.02%
3Y*
20.42%
5Y*
12.78%
10Y*
—
ALL TIME*
12.86%

PDC.TO

1D
0.69%
1M
3.43%
6M
22.60%
YTD
26.09%
1Y
38.58%
3Y*
22.29%
5Y*
14.82%
10Y*
11.35%
ALL TIME*
10.59%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

PDC.TO

Invesco Canadian Dividend Index ETF
CA$76.46KCA$67.75KCA$95.06K

XESG.TO

iShares ESG Aware MSCI Canada Index ETF
CA$124.11KCA$192.49KCA$202.20K

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

2026 (YTD)2025202420232022202120202019
XESG.TO
iShares ESG Aware MSCI Canada Index ETF		12.54%26.34%20.23%10.30%-7.64%23.09%1.14%12.07%
PDC.TO
Invesco Canadian Dividend Index ETF		26.09%21.80%16.38%6.97%-4.17%30.14%-5.48%9.09%

Correlation

The correlation between XESG.TO and PDC.TO is 0.59, 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

0.59

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

0.73

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

0.78

Correlation (All Time)
Calculated using the full available price history since Mar 22, 2019

0.69

The correlation between XESG.TO and PDC.TO shifts across timeframes, from 0.59 (1 year) to 0.78 (5 years), reflecting how their relationship changes across market environments.

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

Sectors
XESG.TO
PDC.TO

Financial Services

40.3%
45.6%

Energy

18.1%
20.4%

Basic Materials

16.7%
3.7%

Industrials

8.5%
1.1%

Technology

8.2%
0.7%

Utilities

3.0%
14.2%

Consumer Cyclical

2.8%
6.7%

Consumer Defensive

1.3%
0.8%

Real Estate

0.6%
2.4%

Communication Services

0.1%
4.4%

Healthcare

0.0%

-

Financial Services

XESG.TO
40.3%
PDC.TO
45.6%

Energy

XESG.TO
18.1%
PDC.TO
20.4%

Basic Materials

XESG.TO
16.7%
PDC.TO
3.7%

Industrials

XESG.TO
8.5%
PDC.TO
1.1%

Technology

XESG.TO
8.2%
PDC.TO
0.7%

Utilities

XESG.TO
3.0%
PDC.TO
14.2%

Consumer Cyclical

XESG.TO
2.8%
PDC.TO
6.7%

Consumer Defensive

XESG.TO
1.3%
PDC.TO
0.8%

Real Estate

XESG.TO
0.6%
PDC.TO
2.4%

Communication Services

XESG.TO
0.1%
PDC.TO
4.4%

Healthcare

XESG.TO
0.0%
PDC.TO

-

Compare stocks, funds, or ETFs

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

iShares ESG Aware MSCI Canada Index ETF

Invesco Canadian Dividend Index ETF

Often compared with XESG.TO:
XESG.TO vs. XCSR.TOXESG.TO vs. XEQT.TOXESG.TO vs. SCHGXESG.TO vs. VFV.TOXESG.TO vs. XIU.TOXESG.TO vs. SPYXESG.TO vs. GEQT.TO
Often compared with PDC.TO:
PDC.TO vs. XDIV.TOPDC.TO vs. PDIV.TOPDC.TO vs. VDY.TOPDC.TO vs. RCD.TOPDC.TO vs. RBNK.TOPDC.TO vs. 3466.HKPDC.TO vs. XDV.TO

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XESG.TO
XESG.TO Risk / Return Rank: 8282
Overall Rank
XESG.TO Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
XESG.TO Sortino Ratio Rank: 7878
Sortino Ratio Rank
XESG.TO Omega Ratio Rank: 8383
Omega Ratio Rank
XESG.TO Calmar Ratio Rank: 7979
Calmar Ratio Rank
XESG.TO Martin Ratio Rank: 8787
Martin Ratio Rank
PDC.TO
PDC.TO Risk / Return Rank: 9898
Overall Rank
PDC.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
PDC.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
PDC.TO Omega Ratio Rank: 9898
Omega Ratio Rank
PDC.TO Calmar Ratio Rank: 9898
Calmar Ratio Rank
PDC.TO Martin Ratio Rank: 9797
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.

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

This table presents a comparison of risk-adjusted performance metrics for iShares ESG Aware MSCI Canada Index ETF (XESG.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.

XESG.TOPDC.TODifference
Sharpe ratioReturn per unit of total volatility
1.98
4.52

-2.54

Sortino ratioReturn per unit of downside risk
2.54
5.88

-3.34

Omega ratioGain probability vs. loss probability

1.36

1.89

-0.54

Calmar ratioReturn relative to maximum drawdown

2.92

10.03

-7.11

Martin ratioReturn relative to average drawdown

12.69

36.85

-24.15

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

The current XESG.TO Sharpe Ratio is 1.98, which is lower than the PDC.TO Sharpe Ratio of 4.52. The chart below compares the historical Sharpe Ratios of XESG.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.

Loading charts...

Drawdowns

XESG.TO vs. PDC.TO - Drawdown Comparison

The maximum XESG.TO drawdown since its inception was -39.40%, smaller than the maximum PDC.TO drawdown of -41.93%. Use the drawdown chart below to compare losses from any high point for XESG.TO and PDC.TO.

Loading charts...

Drawdown Indicators

XESG.TOPDC.TODifference

Max Drawdown

Largest peak-to-trough decline

-39.40%

-41.93%

+2.53%

Max Drawdown (1Y)

Largest decline over 1 year

-9.28%

-3.86%

-5.42%

Max Drawdown (3Y)

Largest decline over 3 years

-14.14%

-10.52%

-3.62%

Max Drawdown (5Y)

Largest decline over 5 years

-17.82%

-17.98%

+0.16%

Max Drawdown (10Y)

Largest decline over 10 years

—

-41.93%

—

Current Drawdown

Current decline from peak

-0.26%

-0.33%

+0.07%

Average Drawdown

Average peak-to-trough decline

-5.01%

-4.48%

-0.53%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.13%

1.05%

+1.08%

Volatility

XESG.TO vs. PDC.TO - Volatility Comparison

iShares ESG Aware MSCI Canada Index ETF (XESG.TO) and Invesco Canadian Dividend Index ETF (PDC.TO) have volatilities of 2.49% and 2.41%, 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.

Loading charts...

Volatility by Period

XESG.TOPDC.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.49%

2.41%

+0.08%

Volatility (6M)

Calculated over the trailing 6-month period

10.77%

6.51%

+4.26%

Volatility (1Y)

Calculated over the trailing 1-year period

13.71%

8.58%

+5.13%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.88%

10.83%

+3.05%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.83%

15.28%

+6.55%

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

XESG.TO has a 0.16% expense ratio, which is lower than PDC.TO's 0.58% expense ratio.

Dividends

XESG.TO vs. PDC.TO - Dividend Comparison

XESG.TO's dividend yield for the trailing twelve months is around 1.91%, less than PDC.TO's 3.14% yield.

PositionTTM20252024202320222021202020192018201720162015
PDC.TO
Invesco Canadian Dividend Index ETF		3.14%3.96%4.48%4.77%4.24%3.65%5.07%4.33%5.12%4.23%3.77%4.39%
XESG.TO
iShares ESG Aware MSCI Canada Index ETF		1.91%2.17%2.57%2.89%2.77%2.01%2.30%1.08%0.00%0.00%0.00%0.00%

Frequently Asked Questions

XESG.TO and PDC.TO have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XESG.TO is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XESG.TO is cheaper with a 0.16% expense ratio, compared with 0.58% for PDC.TO.

XESG.TO is categorized as Canada Equities, while PDC.TO is Dividend. XESG.TO tracks Morningstar Canada GR CAD, while PDC.TO tracks NASDAQ Select Canadian Dividend Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.16% for XESG.TO and 0.58% for PDC.TO.

Portfolio Optimizer

Find the right allocation for XESG.TO and PDC.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