QDX.TO vs. FLVI.NEO

Last updated Aug 4, 2026

QDX.TO (Mackenzie International Equity Index ETF) and FLVI.NEO (Franklin International Low Volatility High Dividend Index ETF) are both Foreign Large Cap Equities funds - QDX.TO tracks the Solactive GBS Developed Markets ex North America Large & Mid Cap CAD Index while FLVI.NEO tracks the Franklin International ex North America Low Volatility High Dividend Index. Both are passively managed. Over the past year, QDX.TO returned 26.93% vs 26.67% for FLVI.NEO. Their 0.59 correlation means they have sometimes moved together and sometimes differently. QDX.TO charges 0.17%/yr vs 0.28%/yr for FLVI.NEO.

Performance

QDX.TO vs. FLVI.NEO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Mackenzie International Equity Index ETF (QDX.TO) and Franklin International Low Volatility High Dividend Index ETF (FLVI.NEO). 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 QDX.TO having a 14.10% return and FLVI.NEO slightly lower at 13.69%.

QDX.TO

• 1D: -0.49%
• 1M: -1.06%
• 6M: 8.38%
• YTD: 14.10%
• 1Y: 26.93%
• 3Y*: 18.42%
• 5Y*: 11.47%
• 10Y*: —
• ALL TIME*: 8.89%

FLVI.NEO

• 1D: -0.36%
• 1M: 0.94%
• 6M: 8.57%
• YTD: 13.69%
• 1Y: 26.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 24.17%

*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)
FLVI.NEO Franklin International Low Volatility High Dividend Index ETF	CA$892.70K	CA$784.56K	CA$899.90K
QDX.TO Mackenzie International Equity Index ETF	CA$357.51K	CA$296.06K	CA$600.37K

QDX.TO vs. FLVI.NEO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QDX.TO Mackenzie International Equity Index ETF	14.10%	25.29%	3.51%
FLVI.NEO Franklin International Low Volatility High Dividend Index ETF	13.69%	33.34%	9.70%

Correlation

The correlation between QDX.TO and FLVI.NEO is 0.68, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.68
Correlation (All Time) Calculated using the full available price history since Mar 25, 2024	0.59

The correlation between QDX.TO and FLVI.NEO has been stable across timeframes, ranging from 0.59 to 0.68 - a consistent structural relationship.

Return for Risk

QDX.TO vs. FLVI.NEO — Risk / Return Rank

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

QDX.TO

QDX.TO Risk / Return Rank: 70
QDX.TO Sharpe Ratio Rank: 71
QDX.TO Sortino Ratio Rank: 73
QDX.TO Omega Ratio Rank: 72
QDX.TO Calmar Ratio Rank: 64
QDX.TO Martin Ratio Rank: 71

FLVI.NEO

FLVI.NEO Risk / Return Rank: 91
FLVI.NEO Sharpe Ratio Rank: 94
FLVI.NEO Sortino Ratio Rank: 93
FLVI.NEO Omega Ratio Rank: 93
FLVI.NEO Calmar Ratio Rank: 86
FLVI.NEO Martin Ratio Rank: 86

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.

QDX.TO vs. FLVI.NEO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mackenzie International Equity Index ETF (QDX.TO) and Franklin International Low Volatility High Dividend Index ETF (FLVI.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.

	QDX.TO	FLVI.NEO	Difference
Sharpe ratio: Return per unit of total volatility	1.77	2.67	-0.91
Sortino ratio: Return per unit of downside risk	2.54	3.71	-1.16
Omega ratio: Gain probability vs. loss probability	1.32	1.50	-0.18
Calmar ratio: Return relative to maximum drawdown	2.42	3.49	-1.07
Martin ratio: Return relative to average drawdown	9.28	13.12	-3.84

QDX.TO vs. FLVI.NEO - Sharpe Ratio Comparison

The current QDX.TO Sharpe Ratio is 1.77, which is lower than the FLVI.NEO Sharpe Ratio of 2.67. The chart below compares the historical Sharpe Ratios of QDX.TO and FLVI.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.

Drawdowns

QDX.TO vs. FLVI.NEO - Drawdown Comparison

The maximum QDX.TO drawdown since its inception was -28.08%, which is greater than FLVI.NEO's maximum drawdown of -11.90%. Use the drawdown chart below to compare losses from any high point for QDX.TO and FLVI.NEO.

Drawdown Indicators

	QDX.TO	FLVI.NEO	Difference
Max Drawdown Largest peak-to-trough decline	-28.08%	-11.90%	-16.18%
Max Drawdown (1Y) Largest decline over 1 year	-10.88%	-7.71%	-3.17%
Max Drawdown (3Y) Largest decline over 3 years	-14.25%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-23.55%	—	—
Current Drawdown Current decline from peak	-1.38%	-0.43%	-0.95%
Average Drawdown Average peak-to-trough decline	-4.48%	-1.51%	-2.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.83%	2.05%	+0.78%

Volatility

QDX.TO vs. FLVI.NEO - Volatility Comparison

Mackenzie International Equity Index ETF (QDX.TO) has a higher volatility of 4.13% compared to Franklin International Low Volatility High Dividend Index ETF (FLVI.NEO) at 2.41%. This indicates that QDX.TO's price experiences larger fluctuations and is considered to be riskier than FLVI.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QDX.TO	FLVI.NEO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.13%	2.41%	+1.72%
Volatility (6M) Calculated over the trailing 6-month period	12.78%	8.04%	+4.74%
Volatility (1Y) Calculated over the trailing 1-year period	14.89%	10.11%	+4.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.11%	12.61%	+1.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.45%	12.61%	+2.84%

QDX.TO vs. FLVI.NEO - Expense Ratio Comparison

QDX.TO has a 0.17% expense ratio, which is lower than FLVI.NEO's 0.28% expense ratio.

Dividends

QDX.TO vs. FLVI.NEO - Dividend Comparison

QDX.TO's dividend yield for the trailing twelve months is around 2.34%, less than FLVI.NEO's 2.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FLVI.NEO Franklin International Low Volatility High Dividend Index ETF	2.75%	3.07%	3.84%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QDX.TO Mackenzie International Equity Index ETF	2.34%	2.51%	2.48%	2.61%	2.73%	2.25%	1.91%	2.76%	3.03%

Frequently Asked Questions

Can I hold both QDX.TO and FLVI.NEO in my portfolio?

QDX.TO and FLVI.NEO have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QDX.TO or FLVI.NEO?

On fees, QDX.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QDX.TO or FLVI.NEO?

QDX.TO is cheaper with a 0.17% expense ratio, compared with 0.28% for FLVI.NEO.

What is the main difference between QDX.TO and FLVI.NEO?

QDX.TO tracks Solactive GBS Developed Markets ex North America Large & Mid Cap CAD Index, while FLVI.NEO tracks Franklin International ex North America Low Volatility High Dividend Index. They also come from different issuers: Mackenzie and Franklin Templeton. Their fees differ too: 0.17% for QDX.TO and 0.28% for FLVI.NEO.