MEQT.TO vs. QCN.TO
MEQT.TO (Mackenzie All-Equity Allocation ETF) and QCN.TO (Mackenzie Canadian Equity Index ETF) are both exchange-traded funds - MEQT.TO is a Global Equities fund actively managed by Mackenzie, while QCN.TO is a Canada Equities fund tracking the Solactive Canada Broad Market Index. MEQT.TO is actively managed, while QCN.TO is passively managed. Over the past year, MEQT.TO returned 25.74% vs 33.62% for QCN.TO. Their 0.45 correlation means their historical movements had little consistent relationship. MEQT.TO charges 0.17%/yr vs 0.04%/yr for QCN.TO.
Performance
MEQT.TO vs. QCN.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with MEQT.TO having a 12.84% return and QCN.TO slightly lower at 12.70%.
MEQT.TO
- 1D
- -0.35%
- 1M
- -1.97%
- 6M
- 10.00%
- YTD
- 12.84%
- 1Y
- 25.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 23.44%
QCN.TO
- 1D
- -0.52%
- 1M
- 0.27%
- 6M
- 10.78%
- YTD
- 12.70%
- 1Y
- 33.62%
- 3Y*
- 23.18%
- 5Y*
- 15.14%
- 10Y*
- —
- ALL TIME*
- 12.82%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$180.94K | CA$187.75K | CA$184.59K | |
| CA$1.93M | CA$2.12M | CA$1.86M |
MEQT.TO vs. QCN.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
MEQT.TO Mackenzie All-Equity Allocation ETF | 12.84% | 21.31% | 25.87% | 2.36% |
QCN.TO Mackenzie Canadian Equity Index ETF | 12.70% | 31.83% | 21.95% | 4.13% |
Correlation
The correlation between MEQT.TO and QCN.TO is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.62 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2023 | 0.45 |
The correlation between MEQT.TO and QCN.TO shifts across timeframes, from 0.45 (all time) to 0.62 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MEQT.TO vs. QCN.TO — Risk / Return Rank
MEQT.TO
QCN.TO
MEQT.TO vs. QCN.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Mackenzie All-Equity Allocation ETF (MEQT.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.
| MEQT.TO | QCN.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.31 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.42 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.34 | 3.46 | -0.11 |
| Martin ratioReturn relative to average drawdown | 13.47 | 15.66 | -2.18 |
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Drawdowns
MEQT.TO vs. QCN.TO - Drawdown Comparison
The maximum MEQT.TO drawdown since its inception was -15.14%, smaller than the maximum QCN.TO drawdown of -36.90%. Use the drawdown chart below to compare losses from any high point for MEQT.TO and QCN.TO.
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Drawdown Indicators
| MEQT.TO | QCN.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.14% | -36.90% | +21.76% |
Max Drawdown (1Y)Largest decline over 1 year | -7.68% | -9.43% | +1.75% |
Max Drawdown (3Y)Largest decline over 3 years | — | -12.26% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -16.37% | — |
Current DrawdownCurrent decline from peak | -2.25% | -1.16% | -1.09% |
Average DrawdownAverage peak-to-trough decline | -1.30% | -3.61% | +2.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.90% | 2.08% | -0.18% |
Volatility
MEQT.TO vs. QCN.TO - Volatility Comparison
Mackenzie All-Equity Allocation ETF (MEQT.TO) has a higher volatility of 3.77% compared to Mackenzie Canadian Equity Index ETF (QCN.TO) at 2.97%. This indicates that MEQT.TO's price experiences larger fluctuations and is considered to be riskier 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
| MEQT.TO | QCN.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.77% | 2.97% | +0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 10.21% | 10.56% | -0.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.14% | 13.46% | -1.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.05% | 13.21% | -1.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.05% | 15.65% | -3.60% |
MEQT.TO vs. QCN.TO - Expense Ratio Comparison
MEQT.TO has a 0.17% expense ratio, which is higher than QCN.TO's 0.04% 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
MEQT.TO vs. QCN.TO - Dividend Comparison
MEQT.TO's dividend yield for the trailing twelve months is around 1.47%, less than QCN.TO's 1.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
MEQT.TO Mackenzie All-Equity Allocation ETF | 1.47% | 1.60% | 1.73% | 0.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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% |
Frequently Asked Questions
MEQT.TO and QCN.TO have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, QCN.TO is cheaper at 0.04% per year. The better choice depends on whether you care most about return, fees, risk, or income.
QCN.TO is cheaper with a 0.04% expense ratio, compared with 0.17% for MEQT.TO.
MEQT.TO is categorized as Global Equities, while QCN.TO is Canada Equities. Their fees differ too: 0.17% for MEQT.TO and 0.04% for QCN.TO.
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