HEQT.TO vs. TEQT.TO
HEQT.TO (Horizons All-Equity Asset Allocation ETF) and TEQT.TO (TD All-Equity ETF Portfolio) are both Global Equities funds. HEQT.TO is actively managed, while TEQT.TO is passively managed. Over the past year, HEQT.TO returned 32.17% vs 30.84% for TEQT.TO. Their correlation of 0.93 suggests significant overlap in exposure. HEQT.TO charges 0.20%/yr vs 0.17%/yr for TEQT.TO.
Performance
HEQT.TO vs. TEQT.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HEQT.TO achieves a 14.13% return, which is significantly higher than TEQT.TO's 12.34% return.
HEQT.TO
- 1D
- 0.50%
- 1M
- 6.41%
- YTD
- 14.13%
- 6M
- 13.38%
- 1Y
- 32.17%
- 3Y*
- 25.88%
- 5Y*
- 16.89%
- 10Y*
- —
TEQT.TO
- 1D
- 0.67%
- 1M
- 5.89%
- YTD
- 12.34%
- 6M
- 11.77%
- 1Y
- 30.84%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HEQT.TO vs. TEQT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HEQT.TO Horizons All-Equity Asset Allocation ETF | 14.13% | 26.43% |
TEQT.TO TD All-Equity ETF Portfolio | 12.34% | 27.04% |
Correlation
The correlation between HEQT.TO and TEQT.TO is 0.94, 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 | 0.94 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2025 | 0.93 |
The correlation between HEQT.TO and TEQT.TO has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.
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Return for Risk
HEQT.TO vs. TEQT.TO — Risk / Return Rank
HEQT.TO
TEQT.TO
HEQT.TO vs. TEQT.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Horizons All-Equity Asset Allocation ETF (HEQT.TO) and TD All-Equity ETF Portfolio (TEQT.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.
| HEQT.TO | TEQT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.52 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.81 | 4.07 | -0.26 |
| Martin ratioReturn relative to average drawdown | 16.80 | 16.73 | +0.07 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HEQT.TO | TEQT.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.70 | 2.79 | -0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.11 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.06 | 3.04 | -1.98 |
Drawdowns
HEQT.TO vs. TEQT.TO - Drawdown Comparison
The maximum HEQT.TO drawdown since its inception was -31.82%, which is greater than TEQT.TO's maximum drawdown of -7.62%. Use the drawdown chart below to compare losses from any high point for HEQT.TO and TEQT.TO.
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Drawdown Indicators
| HEQT.TO | TEQT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.82% | -7.62% | -24.20% |
Max Drawdown (1Y)Largest decline over 1 year | -8.49% | -7.62% | -0.87% |
Max Drawdown (3Y)Largest decline over 3 years | -15.33% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -24.25% | — | — |
Current DrawdownCurrent decline from peak | -0.08% | 0.00% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -4.28% | -1.00% | -3.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.92% | 1.85% | +0.07% |
Volatility
HEQT.TO vs. TEQT.TO - Volatility Comparison
Horizons All-Equity Asset Allocation ETF (HEQT.TO) has a higher volatility of 3.48% compared to TD All-Equity ETF Portfolio (TEQT.TO) at 3.02%. This indicates that HEQT.TO's price experiences larger fluctuations and is considered to be riskier than TEQT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HEQT.TO | TEQT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.48% | 3.02% | +0.46% |
Volatility (6M)Calculated over the trailing 6-month period | 9.68% | 8.82% | +0.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.96% | 11.11% | +0.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.33% | 12.17% | +3.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.16% | 12.17% | +4.99% |
HEQT.TO vs. TEQT.TO - Expense Ratio Comparison
HEQT.TO has a 0.20% expense ratio, which is higher than TEQT.TO's 0.17% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
HEQT.TO vs. TEQT.TO - Dividend Comparison
HEQT.TO's dividend yield for the trailing twelve months is around 1.61%, more than TEQT.TO's 1.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
HEQT.TO Horizons All-Equity Asset Allocation ETF | 1.61% | 1.70% | 3.22% | 7.85% | 7.31% | 0.48% | 1.40% | 0.22% |
TEQT.TO TD All-Equity ETF Portfolio | 1.30% | 1.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.94, HEQT.TO and TEQT.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, TEQT.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TEQT.TO is cheaper with a 0.17% expense ratio, compared with 0.20% for HEQT.TO.
They also come from different issuers: Horizons and TD. Their fees differ too: 0.20% for HEQT.TO and 0.17% for TEQT.TO.
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