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QDX.TO vs. ESGE.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QDX.TO vs. ESGE.TO

Last updated Jul 15, 2026
Documentation

QDX.TO (Mackenzie International Equity Index ETF) and ESGE.TO (BMO MSCI EAFE Selection Equity Index ETF) are both Foreign Large Cap Equities funds. Over the past 5 years, QDX.TO returned 11.25%/yr vs 9.74%/yr for ESGE.TO. A 0.67 correlation means they provide meaningful diversification when combined.

Performance

QDX.TO vs. ESGE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Mackenzie International Equity Index ETF (QDX.TO) and BMO MSCI EAFE Selection Equity Index ETF (ESGE.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both stocks are quite close, with QDX.TO having a 13.10% return and ESGE.TO slightly lower at 12.99%.

QDX.TO

1D
0.18%
1M
1.12%
6M
8.68%
YTD
13.10%
1Y
25.27%
3Y*
18.18%
5Y*
11.25%
10Y*
—

ESGE.TO

1D
0.09%
1M
1.16%
6M
8.63%
YTD
12.99%
1Y
23.04%
3Y*
15.59%
5Y*
9.74%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

QDX.TO vs. ESGE.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
QDX.TO
Mackenzie International Equity Index ETF		13.10%25.29%12.93%13.65%-8.61%11.24%3.57%
ESGE.TO
BMO MSCI EAFE Selection Equity Index ETF		12.99%19.50%10.61%15.06%-11.25%11.14%4.41%

Correlation

The correlation between QDX.TO and ESGE.TO is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.85

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

0.79

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

0.71

Correlation (All Time)
Calculated using the full available price history since Jan 21, 2020

0.67

The correlation between QDX.TO and ESGE.TO shifts across timeframes, from 0.67 (all time) to 0.85 (1 year), reflecting how their relationship changes across market environments.

QDX.TO vs. ESGE.TO - Sectors Allocation Comparison

Sectors
QDX.TO
ESGE.TO

Financial Services

24.1%
23.0%

Industrials

19.4%
18.1%

Technology

11.4%
14.3%

Healthcare

10.2%
10.0%

Consumer Cyclical

7.9%
6.8%

Consumer Defensive

6.6%
6.2%

Basic Materials

6.3%
6.1%

Communication Services

4.7%
6.2%

Energy

3.8%
3.1%

Utilities

3.7%
4.3%

Real Estate

2.1%
1.9%

Financial Services

QDX.TO
24.1%
ESGE.TO
23.0%

Industrials

QDX.TO
19.4%
ESGE.TO
18.1%

Technology

QDX.TO
11.4%
ESGE.TO
14.3%

Healthcare

QDX.TO
10.2%
ESGE.TO
10.0%

Consumer Cyclical

QDX.TO
7.9%
ESGE.TO
6.8%

Consumer Defensive

QDX.TO
6.6%
ESGE.TO
6.2%

Basic Materials

QDX.TO
6.3%
ESGE.TO
6.1%

Communication Services

QDX.TO
4.7%
ESGE.TO
6.2%

Energy

QDX.TO
3.8%
ESGE.TO
3.1%

Utilities

QDX.TO
3.7%
ESGE.TO
4.3%

Real Estate

QDX.TO
2.1%
ESGE.TO
1.9%

Compare stocks, funds, or ETFs

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

Mackenzie International Equity Index ETF

BMO MSCI EAFE Selection Equity Index ETF

Often compared with QDX.TO:
QDX.TO vs. QDXH.TOQDX.TO vs. TILV.TOQDX.TO vs. FCRI.TOQDX.TO vs. QTIP.NEOQDX.TO vs. RIDH.TOQDX.TO vs. XMV.TOQDX.TO vs. ZXM.TO
Often compared with ESGE.TO:
ESGE.TO vs. ZLD.TOESGE.TO vs. ZXM.TOESGE.TO vs. XSEA.TOESGE.TO vs. FLUR.NEOESGE.TO vs. ZCN.TOESGE.TO vs. ZDV.TOESGE.TO vs. ZNQ.TO

Return for Risk

QDX.TO vs. ESGE.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QDX.TO
QDX.TO Risk / Return Rank: 6464
Overall Rank
QDX.TO Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
QDX.TO Sortino Ratio Rank: 6868
Sortino Ratio Rank
QDX.TO Omega Ratio Rank: 6666
Omega Ratio Rank
QDX.TO Calmar Ratio Rank: 5959
Calmar Ratio Rank
QDX.TO Martin Ratio Rank: 6464
Martin Ratio Rank
ESGE.TO
ESGE.TO Risk / Return Rank: 5757
Overall Rank
ESGE.TO Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
ESGE.TO Sortino Ratio Rank: 5959
Sortino Ratio Rank
ESGE.TO Omega Ratio Rank: 5757
Omega Ratio Rank
ESGE.TO Calmar Ratio Rank: 5151
Calmar Ratio Rank
ESGE.TO Martin Ratio Rank: 5757
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.

QDX.TO vs. ESGE.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mackenzie International Equity Index ETF (QDX.TO) and BMO MSCI EAFE Selection Equity Index ETF (ESGE.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.

QDX.TOESGE.TODifference
Sharpe ratioReturn per unit of total volatility
1.72
1.58

+0.13

Sortino ratioReturn per unit of downside risk
2.48
2.26

+0.21

Omega ratioGain probability vs. loss probability

1.31

1.28

+0.03

Calmar ratioReturn relative to maximum drawdown

2.33

2.07

+0.26

Martin ratioReturn relative to average drawdown

9.06

7.95

+1.11

QDX.TO vs. ESGE.TO - Sharpe Ratio Comparison

The current QDX.TO Sharpe Ratio is 1.72, which is comparable to the ESGE.TO Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of QDX.TO and ESGE.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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Drawdowns

QDX.TO vs. ESGE.TO - Drawdown Comparison

The maximum QDX.TO drawdown since its inception was -28.08%, roughly equal to the maximum ESGE.TO drawdown of -27.77%. Use the drawdown chart below to compare losses from any high point for QDX.TO and ESGE.TO.

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Drawdown Indicators

QDX.TOESGE.TODifference

Max Drawdown

Largest peak-to-trough decline

-28.08%

-27.77%

-0.31%

Max Drawdown (1Y)

Largest decline over 1 year

-10.88%

-11.17%

+0.29%

Max Drawdown (3Y)

Largest decline over 3 years

-14.25%

-14.68%

+0.43%

Max Drawdown (5Y)

Largest decline over 5 years

-23.55%

-25.79%

+2.24%

Current Drawdown

Current decline from peak

-2.24%

-2.39%

+0.15%

Average Drawdown

Average peak-to-trough decline

-4.49%

-5.28%

+0.79%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.80%

2.91%

-0.11%

Volatility

QDX.TO vs. ESGE.TO - Volatility Comparison

The current volatility for Mackenzie International Equity Index ETF (QDX.TO) is 3.28%, while BMO MSCI EAFE Selection Equity Index ETF (ESGE.TO) has a volatility of 3.75%. This indicates that QDX.TO experiences smaller price fluctuations and is considered to be less risky than ESGE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

QDX.TOESGE.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.28%

3.75%

-0.47%

Volatility (6M)

Calculated over the trailing 6-month period

12.61%

12.58%

+0.03%

Volatility (1Y)

Calculated over the trailing 1-year period

14.80%

14.63%

+0.17%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.06%

13.85%

+0.21%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.46%

16.28%

-0.82%

Dividends

QDX.TO vs. ESGE.TO - Dividend Comparison

QDX.TO's dividend yield for the trailing twelve months is around 2.36%, more than ESGE.TO's 1.77% yield.

PositionTTM20252024202320222021202020192018
ESGE.TO
BMO MSCI EAFE Selection Equity Index ETF		1.77%2.10%2.60%2.89%2.95%2.54%2.75%0.00%0.00%
QDX.TO
Mackenzie International Equity Index ETF		2.36%2.51%2.48%2.61%2.73%2.25%1.91%2.76%3.03%

Frequently Asked Questions

QDX.TO and ESGE.TO have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

They also come from different issuers: Mackenzie and BMO.

Portfolio Optimizer

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