DXC.TO vs. QCN.TO
DXC.TO (Dynamic Active Canadian Dividend ETF) and QCN.TO (Mackenzie Canadian Equity Index ETF) are both Canada Equities funds. DXC.TO is actively managed, while QCN.TO is passively managed. Over the past 5 years, DXC.TO returned 13.10%/yr vs 15.45%/yr for QCN.TO. A 0.57 correlation means they provide meaningful diversification when combined.
Performance
DXC.TO vs. QCN.TO - Performance Comparison
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Returns By Period
In the year-to-date period, DXC.TO achieves a 15.19% return, which is significantly higher than QCN.TO's 13.00% return.
DXC.TO
- 1D
- 0.38%
- 1M
- 2.40%
- 6M
- 13.57%
- YTD
- 15.19%
- 1Y
- 27.78%
- 3Y*
- 17.93%
- 5Y*
- 13.10%
- 10Y*
- —
QCN.TO
- 1D
- 0.19%
- 1M
- 0.60%
- 6M
- 8.75%
- YTD
- 13.00%
- 1Y
- 33.72%
- 3Y*
- 23.87%
- 5Y*
- 15.45%
- 10Y*
- —
DXC.TO vs. QCN.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
DXC.TO Dynamic Active Canadian Dividend ETF | 15.19% | 19.73% | 13.93% | 10.41% | -1.73% | 27.18% | 7.99% | 22.28% | -6.94% |
QCN.TO Mackenzie Canadian Equity Index ETF | 13.00% | 31.83% | 21.95% | 11.28% | -5.45% | 24.65% | 5.84% | 24.53% | -10.85% |
Correlation
The correlation between DXC.TO and QCN.TO is 0.78, 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 | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Jan 25, 2018 | 0.57 |
Over the past year, DXC.TO and QCN.TO have become more correlated (0.78) than their long-term average of 0.57, meaning their price movements have been converging.
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Return for Risk
DXC.TO vs. QCN.TO — Risk / Return Rank
DXC.TO
QCN.TO
DXC.TO vs. QCN.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dynamic Active Canadian Dividend ETF (DXC.TO) and Mackenzie Canadian Equity Index ETF (QCN.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.
| DXC.TO | QCN.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.59 | ||
| Sortino ratioReturn per unit of downside risk | +1.09 | ||
| Omega ratioGain probability vs. loss probability | 1.58 | 1.45 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 4.78 | 3.59 | +1.19 |
| Martin ratioReturn relative to average drawdown | 21.63 | 16.29 | +5.34 |
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Drawdowns
DXC.TO vs. QCN.TO - Drawdown Comparison
The maximum DXC.TO drawdown since its inception was -30.48%, smaller than the maximum QCN.TO drawdown of -36.90%. Use the drawdown chart below to compare losses from any high point for DXC.TO and QCN.TO.
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Drawdown Indicators
| DXC.TO | QCN.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.48% | -36.90% | +6.42% |
Max Drawdown (1Y)Largest decline over 1 year | -5.84% | -9.43% | +3.59% |
Max Drawdown (3Y)Largest decline over 3 years | -9.64% | -12.26% | +2.62% |
Max Drawdown (5Y)Largest decline over 5 years | -13.30% | -16.37% | +3.07% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -2.59% | -3.63% | +1.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.29% | 2.08% | -0.79% |
Volatility
DXC.TO vs. QCN.TO - Volatility Comparison
The current volatility for Dynamic Active Canadian Dividend ETF (DXC.TO) is 1.69%, while Mackenzie Canadian Equity Index ETF (QCN.TO) has a volatility of 2.15%. This indicates that DXC.TO experiences smaller price fluctuations and is considered to be less risky than QCN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DXC.TO | QCN.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.69% | 2.15% | -0.46% |
Volatility (6M)Calculated over the trailing 6-month period | 7.02% | 10.88% | -3.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.90% | 13.30% | -4.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.51% | 13.26% | -2.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.99% | 15.67% | -2.68% |
Dividends
DXC.TO vs. QCN.TO - Dividend Comparison
DXC.TO's dividend yield for the trailing twelve months is around 2.05%, more than QCN.TO's 1.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DXC.TO Dynamic Active Canadian Dividend ETF | 2.05% | 2.33% | 2.61% | 2.44% | 1.85% | 1.47% | 1.84% | 1.96% | 2.35% | 1.97% |
QCN.TO Mackenzie Canadian Equity Index ETF | 1.95% | 2.19% | 2.74% | 3.37% | 3.26% | 2.45% | 3.03% | 3.07% | 2.73% | 0.00% |
Frequently Asked Questions
DXC.TO and QCN.TO have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Dynamic and Mackenzie.
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