MEQT.TO vs. QDXH.TO

Last updated Aug 4, 2026

MEQT.TO (Mackenzie All-Equity Allocation ETF) and QDXH.TO (Mackenzie International Equity Index ETF (CAD-Hedged)) are both exchange-traded funds - MEQT.TO is a Global Equities fund actively managed by Mackenzie, while QDXH.TO is a Foreign Large Cap Equities fund tracking the Solactive GBS Developed Markets ex North America Large & Mid Cap Hedged to CAD Index. MEQT.TO is actively managed, while QDXH.TO is passively managed. Over the past year, MEQT.TO returned 25.74% vs 24.27% for QDXH.TO. Their 0.28 correlation means their historical movements had little consistent relationship. Both charge a 0.17% expense ratio.

Performance

MEQT.TO vs. QDXH.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Mackenzie All-Equity Allocation ETF (MEQT.TO) and Mackenzie International Equity Index ETF (CAD-Hedged) (QDXH.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with MEQT.TO having a 12.84% return and QDXH.TO slightly lower at 12.29%.

MEQT.TO

• 1D: -0.35%
• 1M: -1.97%
• 6M: 10.00%
• YTD: 12.84%
• 1Y: 25.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 23.44%

QDXH.TO

• 1D: -0.02%
• 1M: -0.49%
• 6M: 7.65%
• YTD: 12.29%
• 1Y: 24.27%
• 3Y*: 16.55%
• 5Y*: 12.27%
• 10Y*: —
• ALL TIME*: 9.68%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MEQT.TO Mackenzie All-Equity Allocation ETF	CA$180.94K	CA$187.75K	CA$184.59K
QDXH.TO Mackenzie International Equity Index ETF (CAD-Hedged)	CA$99.52K	CA$61.24K	CA$41.60K

MEQT.TO vs. QDXH.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MEQT.TO Mackenzie All-Equity Allocation ETF	12.84%	21.31%	25.87%	2.36%
QDXH.TO Mackenzie International Equity Index ETF (CAD-Hedged)	12.29%	21.99%	13.25%	2.28%

Correlation

The correlation between MEQT.TO and QDXH.TO is 0.32, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.32
Correlation (All Time) Calculated using the full available price history since Nov 20, 2023	0.28

Return for Risk

MEQT.TO vs. QDXH.TO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MEQT.TO

MEQT.TO Risk / Return Rank: 85
MEQT.TO Sharpe Ratio Rank: 85
MEQT.TO Sortino Ratio Rank: 85
MEQT.TO Omega Ratio Rank: 86
MEQT.TO Calmar Ratio Rank: 84
MEQT.TO Martin Ratio Rank: 86

QDXH.TO

QDXH.TO Risk / Return Rank: 81
QDXH.TO Sharpe Ratio Rank: 80
QDXH.TO Sortino Ratio Rank: 90
QDXH.TO Omega Ratio Rank: 95
QDXH.TO Calmar Ratio Rank: 64
QDXH.TO Martin Ratio Rank: 74

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MEQT.TO vs. QDXH.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 International Equity Index ETF (CAD-Hedged) (QDXH.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	QDXH.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.11	2.01	+0.11
Sortino ratio: Return per unit of downside risk	3.00	3.37	-0.37
Omega ratio: Gain probability vs. loss probability	1.39	1.61	-0.21
Calmar ratio: Return relative to maximum drawdown	3.34	2.47	+0.87
Martin ratio: Return relative to average drawdown	13.47	10.33	+3.15

MEQT.TO vs. QDXH.TO - Sharpe Ratio Comparison

The current MEQT.TO Sharpe Ratio is 2.11, which is comparable to the QDXH.TO Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of MEQT.TO and QDXH.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

MEQT.TO vs. QDXH.TO - Drawdown Comparison

The maximum MEQT.TO drawdown since its inception was -15.14%, smaller than the maximum QDXH.TO drawdown of -31.75%. Use the drawdown chart below to compare losses from any high point for MEQT.TO and QDXH.TO.

Drawdown Indicators

	MEQT.TO	QDXH.TO	Difference
Max Drawdown Largest peak-to-trough decline	-15.14%	-31.75%	+16.61%
Max Drawdown (1Y) Largest decline over 1 year	-7.68%	-9.85%	+2.17%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.49%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.79%	—
Current Drawdown Current decline from peak	-2.25%	-0.71%	-1.54%
Average Drawdown Average peak-to-trough decline	-1.30%	-3.81%	+2.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.90%	2.36%	-0.46%

Volatility

MEQT.TO vs. QDXH.TO - Volatility Comparison

Mackenzie All-Equity Allocation ETF (MEQT.TO) has a higher volatility of 3.77% compared to Mackenzie International Equity Index ETF (CAD-Hedged) (QDXH.TO) at 3.12%. This indicates that MEQT.TO's price experiences larger fluctuations and is considered to be riskier than QDXH.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MEQT.TO	QDXH.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.77%	3.12%	+0.65%
Volatility (6M) Calculated over the trailing 6-month period	10.21%	10.43%	-0.22%
Volatility (1Y) Calculated over the trailing 1-year period	12.14%	12.14%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.05%	12.78%	-0.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.05%	15.42%	-3.37%

MEQT.TO vs. QDXH.TO - Expense Ratio Comparison

Both MEQT.TO and QDXH.TO have an expense ratio of 0.17%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

MEQT.TO vs. QDXH.TO - Dividend Comparison

MEQT.TO's dividend yield for the trailing twelve months is around 1.47%, less than QDXH.TO's 2.29% 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%
QDXH.TO Mackenzie International Equity Index ETF (CAD-Hedged)	2.29%	2.41%	2.64%	2.76%	2.92%	2.28%	1.96%	2.65%	3.13%

Frequently Asked Questions

Can I hold both MEQT.TO and QDXH.TO in my portfolio?

MEQT.TO and QDXH.TO have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MEQT.TO or QDXH.TO?

Both ETFs have the same 0.17% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MEQT.TO or QDXH.TO?

MEQT.TO and QDXH.TO have the same expense ratio: 0.17% per year.

What is the main difference between MEQT.TO and QDXH.TO?

MEQT.TO is categorized as Global Equities, while QDXH.TO is Foreign Large Cap Equities.