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XIC.TO vs. PDC.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XIC.TO vs. PDC.TO

Last updated Aug 4, 2026
Documentation

XIC.TO (iShares Core S&P/TSX Capped Composite Index ETF) and PDC.TO (Invesco Canadian Dividend Index ETF) are both exchange-traded funds - XIC.TO is a Canada Equities fund tracking the S&P/TSX Capped Composite Index, while PDC.TO is a Dividend fund tracking the NASDAQ Select Canadian Dividend Index. Both are passively managed. Over the past 10 years, XIC.TO returned 12.41%/yr vs 11.43%/yr for PDC.TO. Their 0.70 correlation means they have sometimes moved together and sometimes differently. XIC.TO charges 0.06%/yr vs 0.58%/yr for PDC.TO.

Performance

XIC.TO vs. PDC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO) and Invesco Canadian Dividend Index ETF (PDC.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XIC.TO achieves a 12.55% return, which is significantly lower than PDC.TO's 25.42% return. Over the past 10 years, XIC.TO has outperformed PDC.TO with an annualized return of 12.41%, while PDC.TO has yielded a comparatively lower 11.43% annualized return.

XIC.TO

1D
-0.76%
1M
0.04%
6M
10.65%
YTD
12.55%
1Y
33.33%
3Y*
23.01%
5Y*
14.56%
10Y*
12.41%
ALL TIME*
9.28%

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

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

PDC.TO

Invesco Canadian Dividend Index ETF
CA$73.84KCA$71.47KCA$90.55K

XIC.TO

iShares Core S&P/TSX Capped Composite Index ETF
CA$23.72MCA$28.51MCA$27.00M

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

2026 (YTD)202520242023202220212020201920182017
XIC.TO
iShares Core S&P/TSX Capped Composite Index ETF		12.55%31.51%21.48%11.74%-5.82%23.43%5.61%22.76%-8.72%8.99%
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 XIC.TO and PDC.TO is 0.59, 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.

0.59

Correlation (3Y)
Balances recent behavior with more history.

0.75

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.81

Correlation (10Y)
Provides a long-term view across more market conditions.

0.81

Correlation (All Time)
Calculated using the full available price history since Jun 20, 2011

0.70

The correlation between XIC.TO and PDC.TO shifts across timeframes, from 0.59 (1 year) to 0.81 (10 years), reflecting how their relationship changes across market environments.

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

Sectors
XIC.TO
PDC.TO

Financial Services

36.2%
45.6%

Energy

16.6%
20.4%

Basic Materials

16.0%
3.7%

Industrials

10.5%
1.1%

Technology

7.2%
0.7%

Consumer Cyclical

3.9%
6.7%

Utilities

3.3%
14.2%

Consumer Defensive

2.9%
0.8%

Communication Services

1.6%
4.4%

Real Estate

1.5%
2.4%

Healthcare

0.2%

-

Financial Services

XIC.TO
36.2%
PDC.TO
45.6%

Energy

XIC.TO
16.6%
PDC.TO
20.4%

Basic Materials

XIC.TO
16.0%
PDC.TO
3.7%

Industrials

XIC.TO
10.5%
PDC.TO
1.1%

Technology

XIC.TO
7.2%
PDC.TO
0.7%

Consumer Cyclical

XIC.TO
3.9%
PDC.TO
6.7%

Utilities

XIC.TO
3.3%
PDC.TO
14.2%

Consumer Defensive

XIC.TO
2.9%
PDC.TO
0.8%

Communication Services

XIC.TO
1.6%
PDC.TO
4.4%

Real Estate

XIC.TO
1.5%
PDC.TO
2.4%

Healthcare

XIC.TO
0.2%
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 Core S&P/TSX Capped Composite Index ETF

Invesco Canadian Dividend Index ETF

Often compared with XIC.TO:
XIC.TO vs. XIU.TOXIC.TO vs. VDY.TOXIC.TO vs. ZCN.TOXIC.TO vs. VCE.TOXIC.TO vs. XEF.TOXIC.TO vs. VEQT.TOXIC.TO vs. XUS-U.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

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

Compare historical risk-adjusted metric ranks over the past 12 months.
XIC.TO
XIC.TO Risk / Return Rank: 9090
Overall Rank
XIC.TO Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
XIC.TO Sortino Ratio Rank: 8989
Sortino Ratio Rank
XIC.TO Omega Ratio Rank: 9090
Omega Ratio Rank
XIC.TO Calmar Ratio Rank: 8787
Calmar Ratio Rank
XIC.TO Martin Ratio Rank: 9191
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: 9898
Martin Ratio Rank
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.

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

This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P/TSX Capped Composite Index ETF (XIC.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.

XIC.TOPDC.TODifference
Sharpe ratioReturn per unit of total volatility
2.42
4.44

-2.02

Sortino ratioReturn per unit of downside risk
3.13
5.75

-2.62

Omega ratioGain probability vs. loss probability

1.42

1.87

-0.45

Calmar ratioReturn relative to maximum drawdown

3.47

9.99

-6.52

Martin ratioReturn relative to average drawdown

15.70

36.59

-20.89

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

The current XIC.TO Sharpe Ratio is 2.42, which is lower than the PDC.TO Sharpe Ratio of 4.44. The chart below compares the historical Sharpe Ratios of XIC.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.

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Drawdowns

XIC.TO vs. PDC.TO - Drawdown Comparison

The maximum XIC.TO drawdown since its inception was -47.27%, which is greater than PDC.TO's maximum drawdown of -41.93%. Use the drawdown chart below to compare losses from any high point for XIC.TO and PDC.TO.

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Drawdown Indicators

XIC.TOPDC.TODifference

Max Drawdown

Largest peak-to-trough decline

-47.27%

-41.93%

-5.34%

Max Drawdown (1Y)

Largest decline over 1 year

-9.29%

-3.86%

-5.43%

Max Drawdown (3Y)

Largest decline over 3 years

-12.27%

-10.43%

-1.84%

Max Drawdown (5Y)

Largest decline over 5 years

-16.24%

-17.98%

+1.74%

Max Drawdown (10Y)

Largest decline over 10 years

-37.21%

-41.93%

+4.72%

Current Drawdown

Current decline from peak

-1.56%

-1.06%

-0.50%

Average Drawdown

Average peak-to-trough decline

-6.72%

-4.47%

-2.25%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.05%

1.05%

+1.00%

Volatility

XIC.TO vs. PDC.TO - Volatility Comparison

iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO) has a higher volatility of 3.10% compared to Invesco Canadian Dividend Index ETF (PDC.TO) at 2.78%. This indicates that XIC.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.

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Volatility by Period

XIC.TOPDC.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.10%

2.78%

+0.32%

Volatility (6M)

Calculated over the trailing 6-month period

10.35%

6.60%

+3.75%

Volatility (1Y)

Calculated over the trailing 1-year period

13.34%

8.70%

+4.64%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.23%

10.85%

+2.38%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.96%

15.28%

-0.32%

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

XIC.TO has a 0.06% expense ratio, which is lower than PDC.TO's 0.58% expense ratio.

Dividends

XIC.TO vs. PDC.TO - Dividend Comparison

XIC.TO's dividend yield for the trailing twelve months is around 2.00%, less than PDC.TO's 3.17% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
XIC.TO
iShares Core S&P/TSX Capped Composite Index ETF		2.00%2.23%2.64%2.96%3.10%2.45%3.03%3.01%3.19%2.49%2.72%3.21%

Frequently Asked Questions

XIC.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, XIC.TO is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XIC.TO is cheaper with a 0.06% expense ratio, compared with 0.58% for PDC.TO.

XIC.TO is categorized as Canada Equities, while PDC.TO is Dividend. XIC.TO tracks S&P/TSX Capped Composite Index, while PDC.TO tracks NASDAQ Select Canadian Dividend Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.06% for XIC.TO and 0.58% for PDC.TO.

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