QDXH.TO vs. DXW.TO
QDXH.TO (Mackenzie International Equity Index ETF (CAD-Hedged)) and DXW.TO (Dynamic Active International Dividend ETF) are both International Equity funds. QDXH.TO is passively managed, while DXW.TO is actively managed. Over the past 5 years, QDXH.TO returned 12.21%/yr vs 4.87%/yr for DXW.TO. At a 0.19 correlation, their price movements are largely independent.
Performance
QDXH.TO vs. DXW.TO - Performance Comparison
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Returns By Period
In the year-to-date period, QDXH.TO achieves a 11.98% return, which is significantly higher than DXW.TO's 10.24% return.
QDXH.TO
- 1D
- 0.03%
- 1M
- 0.63%
- 6M
- 8.30%
- YTD
- 11.98%
- 1Y
- 25.33%
- 3Y*
- 17.88%
- 5Y*
- 12.21%
- 10Y*
- —
DXW.TO
- 1D
- -0.32%
- 1M
- 1.76%
- 6M
- 5.31%
- YTD
- 10.24%
- 1Y
- 18.69%
- 3Y*
- 12.00%
- 5Y*
- 4.87%
- 10Y*
- —
QDXH.TO vs. DXW.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
QDXH.TO Mackenzie International Equity Index ETF (CAD-Hedged) | 11.98% | 21.99% | 13.25% | 14.25% | -2.55% | 20.52% | -0.72% |
DXW.TO Dynamic Active International Dividend ETF | 10.24% | 20.35% | 0.97% | 15.88% | -18.80% | 9.57% | 16.97% |
Correlation
The correlation between QDXH.TO and DXW.TO is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2020 | 0.19 |
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Return for Risk
QDXH.TO vs. DXW.TO — Risk / Return Rank
QDXH.TO
DXW.TO
QDXH.TO vs. DXW.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Mackenzie International Equity Index ETF (CAD-Hedged) (QDXH.TO) and Dynamic Active International Dividend ETF (DXW.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.
| QDXH.TO | DXW.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.82 | ||
| Sortino ratioReturn per unit of downside risk | +1.80 | ||
| Omega ratioGain probability vs. loss probability | 1.65 | 1.25 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 2.58 | 1.82 | +0.76 |
| Martin ratioReturn relative to average drawdown | 10.82 | 6.16 | +4.65 |
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Drawdowns
QDXH.TO vs. DXW.TO - Drawdown Comparison
The maximum QDXH.TO drawdown since its inception was -31.75%, roughly equal to the maximum DXW.TO drawdown of -30.99%. Use the drawdown chart below to compare losses from any high point for QDXH.TO and DXW.TO.
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Drawdown Indicators
| QDXH.TO | DXW.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.75% | -30.99% | -0.76% |
Max Drawdown (1Y)Largest decline over 1 year | -9.85% | -10.23% | +0.38% |
Max Drawdown (3Y)Largest decline over 3 years | -13.49% | -14.39% | +0.90% |
Max Drawdown (5Y)Largest decline over 5 years | -15.79% | -30.99% | +15.20% |
Current DrawdownCurrent decline from peak | -0.99% | -1.36% | +0.37% |
Average DrawdownAverage peak-to-trough decline | -3.83% | -7.52% | +3.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.35% | 3.02% | -0.67% |
Volatility
QDXH.TO vs. DXW.TO - Volatility Comparison
The current volatility for Mackenzie International Equity Index ETF (CAD-Hedged) (QDXH.TO) is 1.99%, while Dynamic Active International Dividend ETF (DXW.TO) has a volatility of 3.79%. This indicates that QDXH.TO experiences smaller price fluctuations and is considered to be less risky than DXW.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QDXH.TO | DXW.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.99% | 3.79% | -1.80% |
Volatility (6M)Calculated over the trailing 6-month period | 10.28% | 12.09% | -1.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.00% | 14.39% | -2.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.72% | 14.41% | -1.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.43% | 16.82% | -1.39% |
Dividends
QDXH.TO vs. DXW.TO - Dividend Comparison
QDXH.TO's dividend yield for the trailing twelve months is around 2.30%, more than DXW.TO's 1.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DXW.TO Dynamic Active International Dividend ETF | 1.58% | 2.38% | 2.21% | 1.94% | 2.36% | 1.35% | 0.97% | 0.00% | 0.00% |
QDXH.TO Mackenzie International Equity Index ETF (CAD-Hedged) | 2.30% | 2.41% | 2.64% | 2.76% | 2.92% | 2.28% | 1.96% | 2.65% | 3.13% |
Frequently Asked Questions
QDXH.TO and DXW.TO have a correlation of 0.21, 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 Dynamic.
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