ETP.TO vs. TQGD.TO

Last updated Jul 16, 2026

ETP.TO (First Trust Global Risk Managed Income Index ETF) and TQGD.TO (TD Q Global Dividend ETF) are both Global Equity Income funds - ETP.TO tracks the Nasdaq Global Risk Managed Income Index while TQGD.TO tracks the MSCI World Index (Total Return). Both are passively managed. Over the past 5 years, ETP.TO returned 3.80%/yr vs 14.19%/yr for TQGD.TO. At a 0.16 correlation, their price movements are largely independent.

Performance

ETP.TO vs. TQGD.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 Q Global Dividend ETF (TQGD.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETP.TO achieves a 5.10% return, which is significantly lower than TQGD.TO's 16.32% 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%

TQGD.TO

• 1D: 0.38%
• 1M: 1.28%
• 6M: 12.66%
• YTD: 16.32%
• 1Y: 28.09%
• 3Y*: 19.52%
• 5Y*: 14.19%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
ETP.TO First Trust Global Risk Managed Income Index ETF	5.10%	9.03%	11.18%	5.68%	-10.84%	6.08%	-0.95%	1.86%
TQGD.TO TD Q Global Dividend ETF	16.32%	16.45%	17.67%	15.06%	-2.95%	26.09%	-9.55%	5.90%

Correlation

The correlation between ETP.TO and TQGD.TO is -0.01, 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	-0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (5Y) Calculated over the trailing 5-year period	0.12
Correlation (All Time) Calculated using the full available price history since Nov 20, 2019	0.16

The correlation between ETP.TO and TQGD.TO shifts across timeframes, from -0.01 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ETP.TO vs. TQGD.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: 92
ETP.TO Sharpe Ratio Rank: 95
ETP.TO Sortino Ratio Rank: 95
ETP.TO Omega Ratio Rank: 95
ETP.TO Calmar Ratio Rank: 86
ETP.TO Martin Ratio Rank: 90

TQGD.TO

TQGD.TO Risk / Return Rank: 92
TQGD.TO Sharpe Ratio Rank: 93
TQGD.TO Sortino Ratio Rank: 93
TQGD.TO Omega Ratio Rank: 92
TQGD.TO Calmar Ratio Rank: 91
TQGD.TO Martin Ratio Rank: 92

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. TQGD.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 Q Global Dividend ETF (TQGD.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.TO	TQGD.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.90	2.65	+0.25
Sortino ratio: Return per unit of downside risk	4.28	3.77	+0.51
Omega ratio: Gain probability vs. loss probability	1.58	1.49	+0.09
Calmar ratio: Return relative to maximum drawdown	3.90	4.66	-0.76
Martin ratio: Return relative to average drawdown	16.53	17.85	-1.31

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

The current ETP.TO Sharpe Ratio is 2.90, which is comparable to the TQGD.TO Sharpe Ratio of 2.65. The chart below compares the historical Sharpe Ratios of ETP.TO and TQGD.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.

Drawdowns

ETP.TO vs. TQGD.TO - Drawdown Comparison

The maximum ETP.TO drawdown since its inception was -26.38%, smaller than the maximum TQGD.TO drawdown of -32.60%. Use the drawdown chart below to compare losses from any high point for ETP.TO and TQGD.TO.

Drawdown Indicators

	ETP.TO	TQGD.TO	Difference
Max Drawdown Largest peak-to-trough decline	-26.38%	-32.60%	+6.22%
Max Drawdown (1Y) Largest decline over 1 year	-2.81%	-6.05%	+3.24%
Max Drawdown (3Y) Largest decline over 3 years	-5.73%	-15.51%	+9.78%
Max Drawdown (5Y) Largest decline over 5 years	-15.30%	-15.51%	+0.21%
Max Drawdown (10Y) Largest decline over 10 years	-26.38%	—	—
Current Drawdown Current decline from peak	0.00%	-1.28%	+1.28%
Average Drawdown Average peak-to-trough decline	-3.26%	-4.88%	+1.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.66%	1.58%	-0.92%

Volatility

ETP.TO vs. TQGD.TO - Volatility Comparison

The current volatility for First Trust Global Risk Managed Income Index ETF (ETP.TO) is 0.70%, while TD Q Global Dividend ETF (TQGD.TO) has a volatility of 3.31%. This indicates that ETP.TO experiences smaller price fluctuations and is considered to be less risky than TQGD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETP.TO	TQGD.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.70%	3.31%	-2.61%
Volatility (6M) Calculated over the trailing 6-month period	2.90%	8.53%	-5.63%
Volatility (1Y) Calculated over the trailing 1-year period	3.78%	10.65%	-6.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.86%	17.86%	-12.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.13%	24.53%	-17.40%

Dividends

ETP.TO vs. TQGD.TO - Dividend Comparison

ETP.TO's dividend yield for the trailing twelve months is around 3.62%, more than TQGD.TO's 2.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
TQGD.TO TD Q Global Dividend ETF	2.64%	2.89%	3.39%	3.65%	3.89%	3.26%	4.85%	0.35%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ETP.TO and TQGD.TO in my portfolio?

ETP.TO and TQGD.TO have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between ETP.TO and TQGD.TO?

ETP.TO tracks Nasdaq Global Risk Managed Income Index, while TQGD.TO tracks MSCI World Index (Total Return). They also come from different issuers: First Trust and TD.