PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
QCE.TO vs. QTIP.NEO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QCE.TO vs. QTIP.NEO

Last updated Jul 16, 2026
Documentation

QCE.TO (Mackenzie Canadian Large Cap Equity Index ETF) and QTIP.NEO (Mackenzie US TIPS Index ETF (CAD-Hedged)) are both exchange-traded funds - QCE.TO is a Canada Equities fund actively managed by Mackenzie, while QTIP.NEO is a Inflation-Protected Bonds fund tracking the Solactive US Treasury Inflation-Linked Bond Hedged to CAD TR Index. QCE.TO is actively managed, while QTIP.NEO is passively managed. Over the past 5 years, QCE.TO returned 15.45%/yr vs -0.43%/yr for QTIP.NEO. At a 0.07 correlation, their price movements are largely independent.

Performance

QCE.TO vs. QTIP.NEO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Mackenzie Canadian Large Cap Equity Index ETF (QCE.TO) and Mackenzie US TIPS Index ETF (CAD-Hedged) (QTIP.NEO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, QCE.TO achieves a 14.14% return, which is significantly higher than QTIP.NEO's 0.24% return.

QCE.TO

1D
0.28%
1M
1.65%
6M
10.77%
YTD
14.14%
1Y
33.07%
3Y*
23.92%
5Y*
15.45%
10Y*
—

QTIP.NEO

1D
0.22%
1M
-0.60%
6M
-0.27%
YTD
0.24%
1Y
1.67%
3Y*
2.34%
5Y*
-0.43%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

QCE.TO vs. QTIP.NEO - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
QCE.TO
Mackenzie Canadian Large Cap Equity Index ETF		14.14%29.43%21.54%12.44%-6.08%24.89%4.28%22.10%-7.38%
QTIP.NEO
Mackenzie US TIPS Index ETF (CAD-Hedged)		0.24%4.82%0.82%3.16%-12.98%6.05%9.48%7.49%-0.75%

Correlation

The correlation between QCE.TO and QTIP.NEO is 0.08, 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

0.08

Correlation (3Y)
Calculated over the trailing 3-year period

0.14

Correlation (5Y)
Calculated over the trailing 5-year period

0.11

Correlation (All Time)
Calculated using the full available price history since Jan 25, 2018

0.07

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Mackenzie Canadian Large Cap Equity Index ETF

Mackenzie US TIPS Index ETF (CAD-Hedged)

Often compared with QTIP.NEO:
QTIP.NEO vs. ZTIP.TOQTIP.NEO vs. QDXH.TOQTIP.NEO vs. QDX.TOQTIP.NEO vs. WSHR.NEOQTIP.NEO vs. MGRW.TOQTIP.NEO vs. MAAA.TOQTIP.NEO vs. XSTH.TO

Return for Risk

QCE.TO vs. QTIP.NEO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QCE.TO
QCE.TO Risk / Return Rank: 9393
Overall Rank
QCE.TO Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
QCE.TO Sortino Ratio Rank: 9494
Sortino Ratio Rank
QCE.TO Omega Ratio Rank: 9393
Omega Ratio Rank
QCE.TO Calmar Ratio Rank: 9191
Calmar Ratio Rank
QCE.TO Martin Ratio Rank: 9393
Martin Ratio Rank
QTIP.NEO
QTIP.NEO Risk / Return Rank: 1717
Overall Rank
QTIP.NEO Sharpe Ratio Rank: 1717
Sharpe Ratio Rank
QTIP.NEO Sortino Ratio Rank: 1515
Sortino Ratio Rank
QTIP.NEO Omega Ratio Rank: 1414
Omega Ratio Rank
QTIP.NEO Calmar Ratio Rank: 2020
Calmar Ratio Rank
QTIP.NEO Martin Ratio Rank: 1919
Martin Ratio Rank
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.

QCE.TO vs. QTIP.NEO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mackenzie Canadian Large Cap Equity Index ETF (QCE.TO) and Mackenzie US TIPS Index ETF (CAD-Hedged) (QTIP.NEO). 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.

QCE.TOQTIP.NEODifference
Sharpe ratioReturn per unit of total volatility
2.87
0.42

+2.45

Sortino ratioReturn per unit of downside risk
3.95
0.62

+3.33

Omega ratioGain probability vs. loss probability

1.52

1.07

+0.45

Calmar ratioReturn relative to maximum drawdown

4.41

0.77

+3.64

Martin ratioReturn relative to average drawdown

18.62

1.77

+16.85

QCE.TO vs. QTIP.NEO - Sharpe Ratio Comparison

The current QCE.TO Sharpe Ratio is 2.87, which is higher than the QTIP.NEO Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of QCE.TO and QTIP.NEO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

QCE.TO vs. QTIP.NEO - Drawdown Comparison

The maximum QCE.TO drawdown since its inception was -35.47%, which is greater than QTIP.NEO's maximum drawdown of -15.31%. Use the drawdown chart below to compare losses from any high point for QCE.TO and QTIP.NEO.

Loading charts...

Drawdown Indicators

QCE.TOQTIP.NEODifference

Max Drawdown

Largest peak-to-trough decline

-35.47%

-15.31%

-20.16%

Max Drawdown (1Y)

Largest decline over 1 year

-7.54%

-2.02%

-5.52%

Max Drawdown (3Y)

Largest decline over 3 years

-12.48%

-4.79%

-7.69%

Max Drawdown (5Y)

Largest decline over 5 years

-16.27%

-15.31%

-0.96%

Current Drawdown

Current decline from peak

0.00%

-4.99%

+4.99%

Average Drawdown

Average peak-to-trough decline

-3.68%

-4.89%

+1.21%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.78%

0.88%

+0.90%

Volatility

QCE.TO vs. QTIP.NEO - Volatility Comparison

Mackenzie Canadian Large Cap Equity Index ETF (QCE.TO) has a higher volatility of 2.09% compared to Mackenzie US TIPS Index ETF (CAD-Hedged) (QTIP.NEO) at 1.20%. This indicates that QCE.TO's price experiences larger fluctuations and is considered to be riskier than QTIP.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

QCE.TOQTIP.NEODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.09%

1.20%

+0.89%

Volatility (6M)

Calculated over the trailing 6-month period

8.88%

2.73%

+6.15%

Volatility (1Y)

Calculated over the trailing 1-year period

11.57%

3.68%

+7.89%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.88%

6.23%

+6.65%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.79%

6.29%

+9.50%

Dividends

QCE.TO vs. QTIP.NEO - Dividend Comparison

QCE.TO's dividend yield for the trailing twelve months is around 2.03%, less than QTIP.NEO's 4.02% yield.

PositionTTM20252024202320222021202020192018
QCE.TO
Mackenzie Canadian Large Cap Equity Index ETF		2.03%2.30%3.01%3.49%3.38%2.57%3.17%3.18%2.78%
QTIP.NEO
Mackenzie US TIPS Index ETF (CAD-Hedged)		4.02%4.54%4.53%4.76%9.47%5.24%1.55%2.29%2.91%

Frequently Asked Questions

QCE.TO and QTIP.NEO have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

QCE.TO is categorized as Canada Equities, while QTIP.NEO is Inflation-Protected Bonds.

Portfolio Optimizer

Find the right allocation for QCE.TO and QTIP.NEO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer