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ETP.TO vs. TGED.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ETP.TO vs. TGED.TO

Last updated Jul 16, 2026
Documentation

ETP.TO (First Trust Global Risk Managed Income Index ETF) and TGED.TO (TD Active Global Enhanced Dividend ETF) are both Global Equity Income funds. ETP.TO is passively managed, while TGED.TO is actively managed. Over the past 5 years, ETP.TO returned 3.80%/yr vs 16.00%/yr for TGED.TO. At a 0.17 correlation, their price movements are largely independent.

Performance

ETP.TO vs. TGED.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in First Trust Global Risk Managed Income Index ETF (ETP.TO) and TD Active Global Enhanced Dividend ETF (TGED.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, ETP.TO achieves a 5.10% return, which is significantly lower than TGED.TO's 18.98% return.

ETP.TO

1D
0.05%
1M
0.74%
6M
4.76%
YTD
5.10%
1Y
10.42%
3Y*
9.87%
5Y*
3.80%
10Y*
3.70%

TGED.TO

1D
-0.41%
1M
-2.58%
6M
13.78%
YTD
18.98%
1Y
26.58%
3Y*
25.14%
5Y*
16.00%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

ETP.TO vs. TGED.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
ETP.TO
First Trust Global Risk Managed Income Index ETF		5.10%9.03%11.18%5.68%-10.84%6.08%-0.95%4.43%
TGED.TO
TD Active Global Enhanced Dividend ETF		18.98%10.63%38.60%23.33%-14.27%20.42%19.17%10.37%

Correlation

The correlation between ETP.TO and TGED.TO is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

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

0.07

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

0.12

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

0.15

Correlation (All Time)
Calculated using the full available price history since May 9, 2019

0.17

The correlation between ETP.TO and TGED.TO shifts across timeframes, from 0.07 (1 year) to 0.17 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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

First Trust Global Risk Managed Income Index ETF

TD Active Global Enhanced Dividend ETF

Often compared with TGED.TO:
TGED.TO vs. TQGD.TOTGED.TO vs. TEC.TOTGED.TO vs. TQCD.TOTGED.TO vs. TPU.TOTGED.TO vs. EFASTGED.TO vs. XEQT.TOTGED.TO vs. TEQT.TO

Return for Risk

ETP.TO vs. TGED.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ETP.TO
ETP.TO Risk / Return Rank: 9292
Overall Rank
ETP.TO Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
ETP.TO Sortino Ratio Rank: 9595
Sortino Ratio Rank
ETP.TO Omega Ratio Rank: 9595
Omega Ratio Rank
ETP.TO Calmar Ratio Rank: 8686
Calmar Ratio Rank
ETP.TO Martin Ratio Rank: 9090
Martin Ratio Rank
TGED.TO
TGED.TO Risk / Return Rank: 5353
Overall Rank
TGED.TO Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
TGED.TO Sortino Ratio Rank: 4747
Sortino Ratio Rank
TGED.TO Omega Ratio Rank: 4949
Omega Ratio Rank
TGED.TO Calmar Ratio Rank: 6262
Calmar Ratio Rank
TGED.TO Martin Ratio Rank: 6060
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.

ETP.TO vs. TGED.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Global Risk Managed Income Index ETF (ETP.TO) and TD Active Global Enhanced Dividend ETF (TGED.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.

ETP.TOTGED.TODifference
Sharpe ratioReturn per unit of total volatility
2.90
1.41

+1.49

Sortino ratioReturn per unit of downside risk
4.28
1.95

+2.34

Omega ratioGain probability vs. loss probability

1.58

1.25

+0.33

Calmar ratioReturn relative to maximum drawdown

3.90

2.48

+1.42

Martin ratioReturn relative to average drawdown

16.53

8.40

+8.13

ETP.TO vs. TGED.TO - Sharpe Ratio Comparison

The current ETP.TO Sharpe Ratio is 2.90, which is higher than the TGED.TO Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of ETP.TO and TGED.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

ETP.TO vs. TGED.TO - Drawdown Comparison

The maximum ETP.TO drawdown since its inception was -26.38%, roughly equal to the maximum TGED.TO drawdown of -26.19%. Use the drawdown chart below to compare losses from any high point for ETP.TO and TGED.TO.

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Drawdown Indicators

ETP.TOTGED.TODifference

Max Drawdown

Largest peak-to-trough decline

-26.38%

-26.19%

-0.19%

Max Drawdown (1Y)

Largest decline over 1 year

-2.81%

-10.76%

+7.95%

Max Drawdown (3Y)

Largest decline over 3 years

-5.73%

-19.41%

+13.68%

Max Drawdown (5Y)

Largest decline over 5 years

-15.30%

-23.05%

+7.75%

Max Drawdown (10Y)

Largest decline over 10 years

-26.38%

—

—

Current Drawdown

Current decline from peak

0.00%

-6.26%

+6.26%

Average Drawdown

Average peak-to-trough decline

-3.26%

-4.63%

+1.37%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.66%

3.17%

-2.51%

Volatility

ETP.TO vs. TGED.TO - Volatility Comparison

The current volatility for First Trust Global Risk Managed Income Index ETF (ETP.TO) is 0.70%, while TD Active Global Enhanced Dividend ETF (TGED.TO) has a volatility of 8.85%. This indicates that ETP.TO experiences smaller price fluctuations and is considered to be less risky than TGED.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ETP.TOTGED.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.70%

8.85%

-8.15%

Volatility (6M)

Calculated over the trailing 6-month period

2.90%

16.50%

-13.60%

Volatility (1Y)

Calculated over the trailing 1-year period

3.78%

18.97%

-15.19%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.86%

16.43%

-10.57%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

7.13%

17.11%

-9.98%

Dividends

ETP.TO vs. TGED.TO - Dividend Comparison

ETP.TO's dividend yield for the trailing twelve months is around 3.62%, more than TGED.TO's 3.33% yield.

PositionTTM20252024202320222021202020192018201720162015
ETP.TO
First Trust Global Risk Managed Income Index ETF		3.62%4.03%3.73%4.15%3.25%2.93%3.78%3.76%4.33%4.08%3.84%4.28%
TGED.TO
TD Active Global Enhanced Dividend ETF		3.33%3.79%3.01%3.97%4.70%3.44%3.63%2.54%0.00%0.00%0.00%0.00%

Frequently Asked Questions

ETP.TO and TGED.TO have a correlation of 0.07, 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: First Trust and TD.

Portfolio Optimizer

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