XMV.TO vs. PDF.TO
XMV.TO (iShares MSCI Min Vol Canada Index ETF) and PDF.TO (Purpose Core Dividend Fund) are both exchange-traded funds - XMV.TO is a Canada Equities fund tracking the Morningstar Canada GR CAD, while PDF.TO is a Dividend fund actively managed by Purpose Investments Inc.. XMV.TO is passively managed, while PDF.TO is actively managed. Over the past 10 years, XMV.TO returned 9.95%/yr vs 9.50%/yr for PDF.TO. A 0.60 correlation means they provide meaningful diversification when combined. XMV.TO charges 0.33%/yr vs 0.66%/yr for PDF.TO.
Performance
XMV.TO vs. PDF.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XMV.TO achieves a 13.16% return, which is significantly lower than PDF.TO's 20.07% return. Both investments have delivered pretty close results over the past 10 years, with XMV.TO having a 9.95% annualized return and PDF.TO not far behind at 9.50%.
XMV.TO
- 1D
- 0.92%
- 1M
- 2.36%
- 6M
- 11.20%
- YTD
- 13.16%
- 1Y
- 18.88%
- 3Y*
- 17.02%
- 5Y*
- 10.60%
- 10Y*
- 9.95%
- ALL TIME*
- 10.61%
PDF.TO
- 1D
- 0.62%
- 1M
- 2.88%
- 6M
- 16.53%
- YTD
- 20.07%
- 1Y
- 33.26%
- 3Y*
- 18.64%
- 5Y*
- 12.14%
- 10Y*
- 9.50%
- ALL TIME*
- 10.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$201.50K | CA$240.90K | CA$226.04K | |
| CA$225.31K | CA$221.10K | CA$544.03K |
XMV.TO vs. PDF.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XMV.TO iShares MSCI Min Vol Canada Index ETF | 13.16% | 17.98% | 15.85% | 11.14% | -1.46% | 21.73% | -1.41% | 23.69% | -7.37% | 7.14% |
PDF.TO Purpose Core Dividend Fund | 20.07% | 20.44% | 13.61% | 4.13% | -1.74% | 24.35% | -0.79% | 23.25% | -11.14% | 7.37% |
Correlation
The correlation between XMV.TO and PDF.TO is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Sep 3, 2013 | 0.60 |
Over the past year, XMV.TO and PDF.TO have become more correlated (0.81) than their long-term average of 0.60, meaning their price movements have been converging.
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Return for Risk
XMV.TO vs. PDF.TO — Risk / Return Rank
XMV.TO
PDF.TO
XMV.TO vs. PDF.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Min Vol Canada Index ETF (XMV.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.
| XMV.TO | PDF.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.00 | ||
| Sortino ratioReturn per unit of downside risk | -3.10 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.74 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | 3.22 | 5.26 | -2.04 |
| Martin ratioReturn relative to average drawdown | 11.39 | 23.86 | -12.47 |
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Drawdowns
XMV.TO vs. PDF.TO - Drawdown Comparison
The maximum XMV.TO drawdown since its inception was -38.65%, 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 XMV.TO and PDF.TO.
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Drawdown Indicators
| XMV.TO | PDF.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.65% | -36.00% | -2.65% |
Max Drawdown (1Y)Largest decline over 1 year | -5.88% | -6.35% | +0.47% |
Max Drawdown (3Y)Largest decline over 3 years | -9.72% | -9.28% | -0.44% |
Max Drawdown (5Y)Largest decline over 5 years | -17.56% | -15.81% | -1.75% |
Max Drawdown (10Y)Largest decline over 10 years | -38.65% | -36.00% | -2.65% |
Current DrawdownCurrent decline from peak | -0.29% | -0.51% | +0.22% |
Average DrawdownAverage peak-to-trough decline | -6.55% | -3.45% | -3.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.66% | 1.40% | +0.26% |
Volatility
XMV.TO vs. PDF.TO - Volatility Comparison
iShares MSCI Min Vol Canada Index ETF (XMV.TO) and Purpose Core Dividend Fund (PDF.TO) have volatilities of 2.39% and 2.48%, 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
| XMV.TO | PDF.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.39% | 2.48% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 6.80% | 6.86% | -0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.54% | 8.38% | +1.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.82% | 10.33% | +7.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.69% | 13.58% | +14.11% |
XMV.TO vs. PDF.TO - Expense Ratio Comparison
XMV.TO has a 0.33% expense ratio, which is lower than PDF.TO's 0.66% expense ratio.
Dividends
XMV.TO vs. PDF.TO - Dividend Comparison
XMV.TO's dividend yield for the trailing twelve months is around 2.06%, less than PDF.TO's 2.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PDF.TO Purpose Core Dividend Fund | 2.79% | 3.49% | 3.82% | 4.17% | 3.77% | 3.19% | 3.84% | 3.65% | 4.33% | 3.50% | 3.38% | 3.40% |
XMV.TO iShares MSCI Min Vol Canada Index ETF | 2.06% | 2.28% | 2.49% | 2.83% | 2.59% | 2.28% | 3.04% | 2.72% | 3.25% | 2.79% | 2.38% | 2.72% |
Frequently Asked Questions
XMV.TO and PDF.TO have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XMV.TO is cheaper at 0.33% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XMV.TO is cheaper with a 0.33% expense ratio, compared with 0.66% for PDF.TO.
XMV.TO is categorized as Canada Equities, while PDF.TO is Dividend. They also come from different issuers: iShares and Purpose Investments Inc.. Their fees differ too: 0.33% for XMV.TO and 0.66% for PDF.TO.
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