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QCN.TO vs. CFOU.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QCN.TO vs. CFOU.TO

Last updated Jun 5, 2026

QCN.TO (Mackenzie Canadian Equity Index ETF) and CFOU.TO (BetaPro S&P/TSX Capped Financials 2x Daily Bull ETF) are both exchange-traded funds - QCN.TO is a Canada Equities fund tracking the Solactive Canada Broad Market Index, while CFOU.TO is a Leveraged Equities fund tracking the S&P/TSX Capped Financials Index. Both are passively managed. Over the past 5 years, QCN.TO returned 15.40%/yr vs 29.38%/yr for CFOU.TO. A 0.58 correlation means they provide meaningful diversification when combined. QCN.TO charges 0.04%/yr vs 1.52%/yr for CFOU.TO.

Performance

QCN.TO vs. CFOU.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Mackenzie Canadian Equity Index ETF (QCN.TO) and BetaPro S&P/TSX Capped Financials 2x Daily Bull ETF (CFOU.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, QCN.TO achieves a 12.23% return, which is significantly lower than CFOU.TO's 27.75% return.

QCN.TO

1D
1.24%
1M
5.07%
YTD
12.23%
6M
13.35%
1Y
37.15%
3Y*
24.36%
5Y*
15.40%
10Y*
—

CFOU.TO

1D
3.68%
1M
12.30%
YTD
27.75%
6M
35.24%
1Y
96.97%
3Y*
59.80%
5Y*
29.38%
10Y*
23.35%
*Multi-year figures are annualized to reflect compound growth (CAGR)

QCN.TO vs. CFOU.TO - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
QCN.TO
Mackenzie Canadian Equity Index ETF		12.23%31.83%21.95%11.28%-5.45%24.65%5.84%24.53%-10.84%
CFOU.TO
BetaPro S&P/TSX Capped Financials 2x Daily Bull ETF		27.75%69.17%56.15%18.37%-23.64%79.61%-14.70%40.45%-23.59%

Correlation

The correlation between QCN.TO and CFOU.TO is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.70

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

0.74

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

0.73

Correlation (All Time)
Calculated using the full available price history since Jan 26, 2018

0.58

The correlation between QCN.TO and CFOU.TO shifts across timeframes, from 0.58 (all time) to 0.74 (3 years), reflecting how their relationship changes across market environments.

QCN.TO vs. CFOU.TO - Sectors Allocation Comparison

Sectors
QCN.TO
CFOU.TO

Financial Services

33.2%
100.0%

Energy

18.3%

-

Basic Materials

17.9%

-

Industrials

10.5%

-

Technology

7.3%

-

Consumer Cyclical

3.7%

-

Consumer Defensive

2.9%

-

Utilities

2.7%

-

Communication Services

1.8%

-

Real Estate

1.6%

-

Healthcare

0.2%

-

Financial Services

QCN.TO
33.2%
CFOU.TO
100.0%

Energy

QCN.TO
18.3%
CFOU.TO

-

Basic Materials

QCN.TO
17.9%
CFOU.TO

-

Industrials

QCN.TO
10.5%
CFOU.TO

-

Technology

QCN.TO
7.3%
CFOU.TO

-

Consumer Cyclical

QCN.TO
3.7%
CFOU.TO

-

Consumer Defensive

QCN.TO
2.9%
CFOU.TO

-

Utilities

QCN.TO
2.7%
CFOU.TO

-

Communication Services

QCN.TO
1.8%
CFOU.TO

-

Real Estate

QCN.TO
1.6%
CFOU.TO

-

Healthcare

QCN.TO
0.2%
CFOU.TO

-

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 Equity Index ETF

BetaPro S&P/TSX Capped Financials 2x Daily Bull ETF

Often compared with QCN.TO:
QCN.TO vs. VCN.TOQCN.TO vs. XIC.TOQCN.TO vs. XIU.TOQCN.TO vs. VCE.TOQCN.TO vs. VOOQCN.TO vs. 3NIE.LQCN.TO vs. ZLB.TO
Often compared with CFOU.TO:
CFOU.TO vs. TCND.TOCFOU.TO vs. METE.TOCFOU.TO vs. CACE.TOCFOU.TO vs. HBNK.TOCFOU.TO vs. RBNK.TOCFOU.TO vs. XCSR.TOCFOU.TO vs. ZEB.TO

Return for Risk

QCN.TO vs. CFOU.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QCN.TO
QCN.TO Risk / Return Rank: 8585
Overall Rank
QCN.TO Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
QCN.TO Sortino Ratio Rank: 8585
Sortino Ratio Rank
QCN.TO Omega Ratio Rank: 8686
Omega Ratio Rank
QCN.TO Calmar Ratio Rank: 7979
Calmar Ratio Rank
QCN.TO Martin Ratio Rank: 8787
Martin Ratio Rank
CFOU.TO
CFOU.TO Risk / Return Rank: 9393
Overall Rank
CFOU.TO Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
CFOU.TO Sortino Ratio Rank: 9494
Sortino Ratio Rank
CFOU.TO Omega Ratio Rank: 9292
Omega Ratio Rank
CFOU.TO Calmar Ratio Rank: 9292
Calmar Ratio Rank
CFOU.TO Martin Ratio Rank: 9393
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.

QCN.TO vs. CFOU.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mackenzie Canadian Equity Index ETF (QCN.TO) and BetaPro S&P/TSX Capped Financials 2x Daily Bull ETF (CFOU.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.

QCN.TOCFOU.TODifference
Sharpe ratioReturn per unit of total volatility
2.91
3.91

-1.01

Sortino ratioReturn per unit of downside risk
3.76
4.68

-0.91

Omega ratioGain probability vs. loss probability

1.53

1.61

-0.08

Calmar ratioReturn relative to maximum drawdown

3.96

6.06

-2.11

Martin ratioReturn relative to average drawdown

18.39

24.79

-6.40

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QCN.TO vs. CFOU.TO - Sharpe Ratio Comparison

The current QCN.TO Sharpe Ratio is 2.91, which is comparable to the CFOU.TO Sharpe Ratio of 3.91. The chart below compares the historical Sharpe Ratios of QCN.TO and CFOU.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.

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Sharpe Ratios by Period

QCN.TOCFOU.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.91

3.91

-1.01

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.17

1.07

+0.10

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.69

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.83

0.34

+0.49

Drawdowns

QCN.TO vs. CFOU.TO - Drawdown Comparison

The maximum QCN.TO drawdown since its inception was -36.90%, smaller than the maximum CFOU.TO drawdown of -86.23%. Use the drawdown chart below to compare losses from any high point for QCN.TO and CFOU.TO.

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Drawdown Indicators

QCN.TOCFOU.TODifference

Max Drawdown

Largest peak-to-trough decline

-36.90%

-86.23%

+49.33%

Max Drawdown (1Y)

Largest decline over 1 year

-9.43%

-16.08%

+6.65%

Max Drawdown (3Y)

Largest decline over 3 years

-12.26%

-24.95%

+12.69%

Max Drawdown (5Y)

Largest decline over 5 years

-16.30%

-45.23%

+28.93%

Max Drawdown (10Y)

Largest decline over 10 years

—

-67.29%

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-3.65%

-22.46%

+18.81%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.03%

3.93%

-1.90%

Volatility

QCN.TO vs. CFOU.TO - Volatility Comparison

The current volatility for Mackenzie Canadian Equity Index ETF (QCN.TO) is 3.49%, while BetaPro S&P/TSX Capped Financials 2x Daily Bull ETF (CFOU.TO) has a volatility of 8.75%. This indicates that QCN.TO experiences smaller price fluctuations and is considered to be less risky than CFOU.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

QCN.TOCFOU.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.49%

8.75%

-5.26%

Volatility (6M)

Calculated over the trailing 6-month period

10.57%

21.17%

-10.60%

Volatility (1Y)

Calculated over the trailing 1-year period

12.85%

24.93%

-12.08%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.25%

27.61%

-14.36%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.75%

33.86%

-18.11%

QCN.TO vs. CFOU.TO - Expense Ratio Comparison

QCN.TO has a 0.04% expense ratio, which is lower than CFOU.TO's 1.52% expense ratio.

Dividends

QCN.TO vs. CFOU.TO - Dividend Comparison

QCN.TO's dividend yield for the trailing twelve months is around 1.94%, while CFOU.TO has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018
CFOU.TO
BetaPro S&P/TSX Capped Financials 2x Daily Bull ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
QCN.TO
Mackenzie Canadian Equity Index ETF		1.94%2.19%2.74%3.37%3.26%2.45%3.02%3.07%2.73%

Frequently Asked Questions

QCN.TO and CFOU.TO have a correlation of 0.70, 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 1.52% for CFOU.TO.

QCN.TO is categorized as Canada Equities, while CFOU.TO is Leveraged Equities. QCN.TO tracks Solactive Canada Broad Market Index, while CFOU.TO tracks S&P/TSX Capped Financials Index. They also come from different issuers: Mackenzie and Global X. Their fees differ too: 0.04% for QCN.TO and 1.52% for CFOU.TO.

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