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QTIP.NEO vs. QCE.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QTIP.NEO vs. QCE.TO

Last updated Jul 16, 2026
Documentation

QTIP.NEO (Mackenzie US TIPS Index ETF (CAD-Hedged)) and QCE.TO (Mackenzie Canadian Large Cap Equity Index ETF) are both exchange-traded funds - QTIP.NEO is a Inflation-Protected Bonds fund tracking the Solactive US Treasury Inflation-Linked Bond Hedged to CAD TR Index, while QCE.TO is a Canada Equities fund actively managed by Mackenzie. QTIP.NEO is passively managed, while QCE.TO is actively managed. Over the past 5 years, QTIP.NEO returned -0.43%/yr vs 15.45%/yr for QCE.TO. At a 0.07 correlation, their price movements are largely independent.

Performance

QTIP.NEO vs. QCE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Mackenzie US TIPS Index ETF (CAD-Hedged) (QTIP.NEO) and Mackenzie Canadian Large Cap Equity Index ETF (QCE.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, QTIP.NEO achieves a 0.24% return, which is significantly lower than QCE.TO's 14.14% return.

QTIP.NEO

1D
0.22%
1M
-0.60%
6M
-0.27%
YTD
0.24%
1Y
1.67%
3Y*
2.34%
5Y*
-0.43%
10Y*
—

QCE.TO

1D
0.28%
1M
1.65%
6M
10.77%
YTD
14.14%
1Y
33.07%
3Y*
23.92%
5Y*
15.45%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

QTIP.NEO vs. QCE.TO - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
QTIP.NEO
Mackenzie US TIPS Index ETF (CAD-Hedged)		0.24%4.82%0.82%3.16%-12.98%6.05%9.48%7.49%-0.75%
QCE.TO
Mackenzie Canadian Large Cap Equity Index ETF		14.14%29.43%21.54%12.44%-6.08%24.89%4.28%22.10%-7.38%

Correlation

The correlation between QTIP.NEO and QCE.TO is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

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

0.08

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

0.14

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

0.11

Correlation (All Time)
Calculated using the full available price history since Jan 25, 2018

0.07

Compare stocks, funds, or ETFs

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

Mackenzie US TIPS Index ETF (CAD-Hedged)

Mackenzie Canadian Large Cap Equity Index ETF

Often compared with QTIP.NEO:
QTIP.NEO vs. ZTIP.TOQTIP.NEO vs. QDXH.TOQTIP.NEO vs. QDX.TOQTIP.NEO vs. WSHR.NEOQTIP.NEO vs. MGRW.TOQTIP.NEO vs. MAAA.TOQTIP.NEO vs. XSTH.TO

Return for Risk

QTIP.NEO vs. QCE.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QTIP.NEO
QTIP.NEO Risk / Return Rank: 1717
Overall Rank
QTIP.NEO Sharpe Ratio Rank: 1717
Sharpe Ratio Rank
QTIP.NEO Sortino Ratio Rank: 1515
Sortino Ratio Rank
QTIP.NEO Omega Ratio Rank: 1414
Omega Ratio Rank
QTIP.NEO Calmar Ratio Rank: 2020
Calmar Ratio Rank
QTIP.NEO Martin Ratio Rank: 1919
Martin Ratio Rank
QCE.TO
QCE.TO Risk / Return Rank: 9393
Overall Rank
QCE.TO Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
QCE.TO Sortino Ratio Rank: 9494
Sortino Ratio Rank
QCE.TO Omega Ratio Rank: 9393
Omega Ratio Rank
QCE.TO Calmar Ratio Rank: 9191
Calmar Ratio Rank
QCE.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.

QTIP.NEO vs. QCE.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mackenzie US TIPS Index ETF (CAD-Hedged) (QTIP.NEO) and Mackenzie Canadian Large Cap Equity Index ETF (QCE.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.

QTIP.NEOQCE.TODifference
Sharpe ratioReturn per unit of total volatility
0.42
2.87

-2.45

Sortino ratioReturn per unit of downside risk
0.62
3.95

-3.33

Omega ratioGain probability vs. loss probability

1.07

1.52

-0.45

Calmar ratioReturn relative to maximum drawdown

0.77

4.41

-3.64

Martin ratioReturn relative to average drawdown

1.77

18.62

-16.85

QTIP.NEO vs. QCE.TO - Sharpe Ratio Comparison

The current QTIP.NEO Sharpe Ratio is 0.42, which is lower than the QCE.TO Sharpe Ratio of 2.87. The chart below compares the historical Sharpe Ratios of QTIP.NEO and QCE.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

QTIP.NEO vs. QCE.TO - Drawdown Comparison

The maximum QTIP.NEO drawdown since its inception was -15.31%, smaller than the maximum QCE.TO drawdown of -35.47%. Use the drawdown chart below to compare losses from any high point for QTIP.NEO and QCE.TO.

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Drawdown Indicators

QTIP.NEOQCE.TODifference

Max Drawdown

Largest peak-to-trough decline

-15.31%

-35.47%

+20.16%

Max Drawdown (1Y)

Largest decline over 1 year

-2.02%

-7.54%

+5.52%

Max Drawdown (3Y)

Largest decline over 3 years

-4.79%

-12.48%

+7.69%

Max Drawdown (5Y)

Largest decline over 5 years

-15.31%

-16.27%

+0.96%

Current Drawdown

Current decline from peak

-4.99%

0.00%

-4.99%

Average Drawdown

Average peak-to-trough decline

-4.89%

-3.68%

-1.21%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.88%

1.78%

-0.90%

Volatility

QTIP.NEO vs. QCE.TO - Volatility Comparison

The current volatility for Mackenzie US TIPS Index ETF (CAD-Hedged) (QTIP.NEO) is 1.20%, while Mackenzie Canadian Large Cap Equity Index ETF (QCE.TO) has a volatility of 2.09%. This indicates that QTIP.NEO experiences smaller price fluctuations and is considered to be less risky than QCE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

QTIP.NEOQCE.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

1.20%

2.09%

-0.89%

Volatility (6M)

Calculated over the trailing 6-month period

2.73%

8.88%

-6.15%

Volatility (1Y)

Calculated over the trailing 1-year period

3.68%

11.57%

-7.89%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.23%

12.88%

-6.65%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.29%

15.79%

-9.50%

Dividends

QTIP.NEO vs. QCE.TO - Dividend Comparison

QTIP.NEO's dividend yield for the trailing twelve months is around 4.02%, more than QCE.TO's 2.03% yield.

PositionTTM20252024202320222021202020192018
QCE.TO
Mackenzie Canadian Large Cap Equity Index ETF		2.03%2.30%3.01%3.49%3.38%2.57%3.17%3.18%2.78%
QTIP.NEO
Mackenzie US TIPS Index ETF (CAD-Hedged)		4.02%4.54%4.53%4.76%9.47%5.24%1.55%2.29%2.91%

Frequently Asked Questions

QTIP.NEO and QCE.TO have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

QTIP.NEO is categorized as Inflation-Protected Bonds, while QCE.TO is Canada Equities.

Portfolio Optimizer

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