METE.TO vs. TDAX

Last updated Jun 4, 2026

METE.TO (Harvest Meta Enhanced High Income Shares ETF - Class A Units) and TDAX (TDAQ Lift ETF) are both exchange-traded funds - METE.TO is a Derivative Income fund actively managed by Harvest Portfolios Group, while TDAX is a Leveraged Equities fund actively managed by TappAlpha. Both are actively managed. A 0.51 correlation means they provide meaningful diversification when combined. METE.TO charges 0.40%/yr vs 0.98%/yr for TDAX.

Performance

METE.TO vs. TDAX - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Harvest Meta Enhanced High Income Shares ETF - Class A Units (METE.TO) and TDAQ Lift ETF (TDAX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

METE.TO is traded in CAD, while TDAX is traded in USD. To make them comparable, the TDAX values have been converted to CAD using the latest available exchange rates.

Returns By Period

METE.TO

• 1D: 5.47%
• 1M: 4.67%
• YTD: -4.55%
• 6M: -2.86%
• 1Y: -5.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TDAX

• 1D: 0.34%
• 1M: 16.07%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

METE.TO vs. TDAX - Yearly Performance Comparison

	2026 (YTD)
METE.TO Harvest Meta Enhanced High Income Shares ETF - Class A Units	-3.85%
TDAX TDAQ Lift ETF	21.82%

Correlation

The correlation between METE.TO and TDAX is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 8, 2026	0.51

Return for Risk

METE.TO vs. TDAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

METE.TO

METE.TO Risk / Return Rank: 8
METE.TO Sharpe Ratio Rank: 8
METE.TO Sortino Ratio Rank: 8
METE.TO Omega Ratio Rank: 8
METE.TO Calmar Ratio Rank: 8
METE.TO Martin Ratio Rank: 7

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.

METE.TO vs. TDAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harvest Meta Enhanced High Income Shares ETF - Class A Units (METE.TO) and TDAQ Lift ETF (TDAX). 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.

	METE.TO	TDAX	Difference
Sharpe ratio Return per unit of total volatility	-0.16	—	—
Sortino ratio Return per unit of downside risk	0.02	—	—
Omega ratio Gain probability vs. loss probability	1.00	—	—
Calmar ratio Return relative to maximum drawdown	-0.17	—	—
Martin ratio Return relative to average drawdown	-0.36	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	METE.TO	TDAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.16	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.09	2.78	-2.87

Drawdowns

METE.TO vs. TDAX - Drawdown Comparison

The maximum METE.TO drawdown since its inception was -40.10%, which is greater than TDAX's maximum drawdown of -14.05%. Use the drawdown chart below to compare losses from any high point for METE.TO and TDAX.

Drawdown Indicators

	METE.TO	TDAX	Difference
Max Drawdown Largest peak-to-trough decline	-40.10%	-14.05%	-26.05%
Max Drawdown (1Y) Largest decline over 1 year	-35.48%	—	—
Current Drawdown Current decline from peak	-22.07%	0.00%	-22.07%
Average Drawdown Average peak-to-trough decline	-15.68%	-4.19%	-11.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.51%	—	—

Volatility

Volatility by Period

	METE.TO	TDAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.99%	—	—
Volatility (6M) Calculated over the trailing 6-month period	28.26%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	36.57%	23.05%	+13.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.08%	23.05%	+19.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.08%	23.05%	+19.03%

METE.TO vs. TDAX - Expense Ratio Comparison

METE.TO has a 0.40% expense ratio, which is lower than TDAX's 0.98% expense ratio.

Dividends

METE.TO vs. TDAX - Dividend Comparison

METE.TO's dividend yield for the trailing twelve months is around 25.77%, more than TDAX's 7.40% yield.

Position	TTM	2025
METE.TO Harvest Meta Enhanced High Income Shares ETF - Class A Units	25.77%	21.31%
TDAX TDAQ Lift ETF	7.40%	0.00%

Frequently Asked Questions

Can I hold both METE.TO and TDAX in my portfolio?

METE.TO and TDAX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, METE.TO or TDAX?

On fees, METE.TO is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, METE.TO or TDAX?

METE.TO is cheaper with a 0.40% expense ratio, compared with 0.98% for TDAX.

What is the main difference between METE.TO and TDAX?

METE.TO is categorized as Derivative Income, while TDAX is Leveraged Equities. They also come from different issuers: Harvest Portfolios Group and TappAlpha. Their fees differ too: 0.40% for METE.TO and 0.98% for TDAX.