QDX.TO vs. MEQT.TO
QDX.TO (Mackenzie International Equity Index ETF) and MEQT.TO (Mackenzie All-Equity Allocation ETF) are both exchange-traded funds - QDX.TO is a Foreign Large Cap Equities fund tracking the Solactive GBS Developed Markets ex North America Large & Mid Cap CAD Index, while MEQT.TO is a Global Equities fund actively managed by Mackenzie. QDX.TO is passively managed, while MEQT.TO is actively managed. Over the past year, QDX.TO returned 26.93% vs 25.74% for MEQT.TO. Their 0.46 correlation means their historical movements had little consistent relationship. Both charge a 0.17% expense ratio.
Performance
QDX.TO vs. MEQT.TO - Performance Comparison
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Returns By Period
In the year-to-date period, QDX.TO achieves a 14.10% return, which is significantly higher than MEQT.TO's 12.84% return.
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%
MEQT.TO
- 1D
- -0.35%
- 1M
- -1.97%
- 6M
- 10.00%
- YTD
- 12.84%
- 1Y
- 25.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 23.44%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$180.94K | CA$187.75K | CA$184.59K | |
| CA$357.51K | CA$296.06K | CA$600.37K |
QDX.TO vs. MEQT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
QDX.TO Mackenzie International Equity Index ETF | 14.10% | 25.29% | 12.93% | 2.48% |
MEQT.TO Mackenzie All-Equity Allocation ETF | 12.84% | 21.31% | 25.87% | 2.36% |
Correlation
The correlation between QDX.TO and MEQT.TO is 0.67, 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. | 0.67 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2023 | 0.46 |
Over the past year, QDX.TO and MEQT.TO have become more correlated (0.67) than their long-term average of 0.46, meaning their price movements have been converging.
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Return for Risk
QDX.TO vs. MEQT.TO — Risk / Return Rank
QDX.TO
MEQT.TO
QDX.TO vs. MEQT.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Mackenzie International Equity Index ETF (QDX.TO) and Mackenzie All-Equity Allocation ETF (MEQT.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.TO | MEQT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.39 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.42 | 3.34 | -0.92 |
| Martin ratioReturn relative to average drawdown | 9.28 | 13.47 | -4.19 |
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Drawdowns
QDX.TO vs. MEQT.TO - Drawdown Comparison
The maximum QDX.TO drawdown since its inception was -28.08%, which is greater than MEQT.TO's maximum drawdown of -15.14%. Use the drawdown chart below to compare losses from any high point for QDX.TO and MEQT.TO.
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Drawdown Indicators
| QDX.TO | MEQT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.08% | -15.14% | -12.94% |
Max Drawdown (1Y)Largest decline over 1 year | -10.88% | -7.68% | -3.20% |
Max Drawdown (3Y)Largest decline over 3 years | -14.25% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -23.55% | — | — |
Current DrawdownCurrent decline from peak | -1.38% | -2.25% | +0.87% |
Average DrawdownAverage peak-to-trough decline | -4.48% | -1.30% | -3.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.83% | 1.90% | +0.93% |
Volatility
QDX.TO vs. MEQT.TO - Volatility Comparison
Mackenzie International Equity Index ETF (QDX.TO) has a higher volatility of 4.13% compared to Mackenzie All-Equity Allocation ETF (MEQT.TO) at 3.77%. This indicates that QDX.TO's price experiences larger fluctuations and is considered to be riskier than MEQT.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.TO | MEQT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.13% | 3.77% | +0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 12.78% | 10.21% | +2.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.89% | 12.14% | +2.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.11% | 12.05% | +2.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.45% | 12.05% | +3.40% |
QDX.TO vs. MEQT.TO - Expense Ratio Comparison
Both QDX.TO and MEQT.TO have an expense ratio of 0.17%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
QDX.TO vs. MEQT.TO - Dividend Comparison
QDX.TO's dividend yield for the trailing twelve months is around 2.34%, more than MEQT.TO's 1.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
MEQT.TO Mackenzie All-Equity Allocation ETF | 1.47% | 1.60% | 1.73% | 0.81% | 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
QDX.TO and MEQT.TO have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.17% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
QDX.TO and MEQT.TO have the same expense ratio: 0.17% per year.
QDX.TO is categorized as Foreign Large Cap Equities, while MEQT.TO is Global Equities.
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