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XVLU.TO vs. PXS.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XVLU.TO vs. PXS.TO

Last updated Jun 24, 2026

XVLU.TO (iShares MSCI USA Value Factor Index ETF) and PXS.TO (Invesco RAFI U.S. Index ETF II CAD) are both Large Cap Value Equities funds - XVLU.TO tracks the MSCI USA Enhanced Value Index while PXS.TO tracks the RAFI Fundamental Select US 1000 Index. Both are passively managed. Over the past 5 years, XVLU.TO returned 19.33%/yr vs 16.09%/yr for PXS.TO. At a 0.44 correlation, their price movements are largely independent. XVLU.TO charges 0.32%/yr vs 0.46%/yr for PXS.TO.

Performance

XVLU.TO vs. PXS.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares MSCI USA Value Factor Index ETF (XVLU.TO) and Invesco RAFI U.S. Index ETF II CAD (PXS.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, XVLU.TO achieves a 50.30% return, which is significantly higher than PXS.TO's 18.28% return.

XVLU.TO

1D
-2.98%
1M
8.67%
YTD
50.30%
6M
50.17%
1Y
87.96%
3Y*
35.03%
5Y*
19.33%
10Y*
—

PXS.TO

1D
-0.12%
1M
3.66%
YTD
18.28%
6M
18.18%
1Y
36.20%
3Y*
23.80%
5Y*
16.09%
10Y*
14.58%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XVLU.TO vs. PXS.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
XVLU.TO
iShares MSCI USA Value Factor Index ETF		50.30%26.17%15.37%11.09%-8.87%28.64%-3.66%7.29%
PXS.TO
Invesco RAFI U.S. Index ETF II CAD		18.28%13.64%26.23%12.41%-2.47%32.84%4.71%8.17%

Correlation

The correlation between XVLU.TO and PXS.TO is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.24

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

0.41

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

0.43

Correlation (All Time)
Calculated using the full available price history since Sep 10, 2019

0.44

The correlation between XVLU.TO and PXS.TO shifts across timeframes, from 0.24 (1 year) to 0.44 (all time), reflecting how their relationship changes across market environments.

XVLU.TO vs. PXS.TO - Sectors Allocation Comparison

Sectors
XVLU.TO
PXS.TO

Technology

49.8%
24.6%

Financial Services

9.1%
14.7%

Consumer Cyclical

8.1%
8.8%

Healthcare

7.9%
11.5%

Communication Services

7.2%
9.7%

Industrials

6.7%
8.8%

Consumer Defensive

3.7%
5.8%

Energy

2.7%
7.7%

Utilities

1.8%
2.8%

Real Estate

1.6%
2.4%

Basic Materials

1.5%
3.3%

Technology

XVLU.TO
49.8%
PXS.TO
24.6%

Financial Services

XVLU.TO
9.1%
PXS.TO
14.7%

Consumer Cyclical

XVLU.TO
8.1%
PXS.TO
8.8%

Healthcare

XVLU.TO
7.9%
PXS.TO
11.5%

Communication Services

XVLU.TO
7.2%
PXS.TO
9.7%

Industrials

XVLU.TO
6.7%
PXS.TO
8.8%

Consumer Defensive

XVLU.TO
3.7%
PXS.TO
5.8%

Energy

XVLU.TO
2.7%
PXS.TO
7.7%

Utilities

XVLU.TO
1.8%
PXS.TO
2.8%

Real Estate

XVLU.TO
1.6%
PXS.TO
2.4%

Basic Materials

XVLU.TO
1.5%
PXS.TO
3.3%

Compare stocks, funds, or ETFs

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iShares MSCI USA Value Factor Index ETF

Invesco RAFI U.S. Index ETF II CAD

Often compared with XVLU.TO:
XVLU.TO vs. VFV.TOXVLU.TO vs. VLUEXVLU.TO vs. XQLT.TOXVLU.TO vs. XSMC.TOXVLU.TO vs. FCUV.TOXVLU.TO vs. XDU.TOXVLU.TO vs. XDG.TO
Often compared with PXS.TO:
PXS.TO vs. PXC.TOPXS.TO vs. TLV.TOPXS.TO vs. XDU.TOPXS.TO vs. ESG.TOPXS.TO vs. ZVC.TOPXS.TO vs. ESGC.TOPXS.TO vs. CUD.TO

Return for Risk

XVLU.TO vs. PXS.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XVLU.TO
XVLU.TO Risk / Return Rank: 9797
Overall Rank
XVLU.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
XVLU.TO Sortino Ratio Rank: 9797
Sortino Ratio Rank
XVLU.TO Omega Ratio Rank: 9696
Omega Ratio Rank
XVLU.TO Calmar Ratio Rank: 9898
Calmar Ratio Rank
XVLU.TO Martin Ratio Rank: 9898
Martin Ratio Rank
PXS.TO
PXS.TO Risk / Return Rank: 9595
Overall Rank
PXS.TO Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
PXS.TO Sortino Ratio Rank: 9696
Sortino Ratio Rank
PXS.TO Omega Ratio Rank: 9595
Omega Ratio Rank
PXS.TO Calmar Ratio Rank: 9595
Calmar Ratio Rank
PXS.TO Martin Ratio Rank: 9595
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.

XVLU.TO vs. PXS.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Value Factor Index ETF (XVLU.TO) and Invesco RAFI U.S. Index ETF II CAD (PXS.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.

XVLU.TOPXS.TODifference
Sharpe ratioReturn per unit of total volatility
4.74
3.29

+1.46

Sortino ratioReturn per unit of downside risk
5.90
4.84

+1.05

Omega ratioGain probability vs. loss probability

1.80

1.64

+0.16

Calmar ratioReturn relative to maximum drawdown

12.26

7.45

+4.81

Martin ratioReturn relative to average drawdown

47.85

26.52

+21.33

XVLU.TO vs. PXS.TO - Sharpe Ratio Comparison

The current XVLU.TO Sharpe Ratio is 4.74, which is higher than the PXS.TO Sharpe Ratio of 3.29. The chart below compares the historical Sharpe Ratios of XVLU.TO and PXS.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

XVLU.TO vs. PXS.TO - Drawdown Comparison

The maximum XVLU.TO drawdown since its inception was -34.40%, which is greater than PXS.TO's maximum drawdown of -31.87%. Use the drawdown chart below to compare losses from any high point for XVLU.TO and PXS.TO.

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Drawdown Indicators

XVLU.TOPXS.TODifference

Max Drawdown

Largest peak-to-trough decline

-34.40%

-31.87%

-2.53%

Max Drawdown (1Y)

Largest decline over 1 year

-7.22%

-4.88%

-2.34%

Max Drawdown (3Y)

Largest decline over 3 years

-17.13%

-16.36%

-0.77%

Max Drawdown (5Y)

Largest decline over 5 years

-20.16%

-16.36%

-3.80%

Max Drawdown (10Y)

Largest decline over 10 years

—

-31.87%

—

Current Drawdown

Current decline from peak

-2.98%

-0.12%

-2.86%

Average Drawdown

Average peak-to-trough decline

-6.45%

-3.35%

-3.10%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.84%

1.37%

+0.47%

Volatility

XVLU.TO vs. PXS.TO - Volatility Comparison

iShares MSCI USA Value Factor Index ETF (XVLU.TO) has a higher volatility of 8.37% compared to Invesco RAFI U.S. Index ETF II CAD (PXS.TO) at 3.28%. This indicates that XVLU.TO's price experiences larger fluctuations and is considered to be riskier than PXS.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XVLU.TOPXS.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

8.37%

3.28%

+5.09%

Volatility (6M)

Calculated over the trailing 6-month period

15.74%

8.35%

+7.39%

Volatility (1Y)

Calculated over the trailing 1-year period

18.64%

11.07%

+7.57%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.25%

13.29%

+2.96%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.95%

15.28%

+3.67%

XVLU.TO vs. PXS.TO - Expense Ratio Comparison

XVLU.TO has a 0.32% expense ratio, which is lower than PXS.TO's 0.46% expense ratio.

Dividends

XVLU.TO vs. PXS.TO - Dividend Comparison

XVLU.TO's dividend yield for the trailing twelve months is around 1.12%, less than PXS.TO's 1.22% yield.

PositionTTM20252024202320222021202020192018201720162015
PXS.TO
Invesco RAFI U.S. Index ETF II CAD		1.22%1.49%1.53%1.53%1.80%1.51%2.51%1.91%1.84%1.50%1.62%1.40%
XVLU.TO
iShares MSCI USA Value Factor Index ETF		1.12%1.75%2.17%2.26%2.51%2.03%2.72%0.68%0.00%0.00%0.00%0.00%

Frequently Asked Questions

XVLU.TO and PXS.TO have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XVLU.TO is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XVLU.TO is cheaper with a 0.32% expense ratio, compared with 0.46% for PXS.TO.

XVLU.TO tracks MSCI USA Enhanced Value Index, while PXS.TO tracks RAFI Fundamental Select US 1000 Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.32% for XVLU.TO and 0.46% for PXS.TO.

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