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

QTIP.NEO vs. QDX.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Mackenzie US TIPS Index ETF (CAD-Hedged) (QTIP.NEO) and Mackenzie International Equity Index ETF (QDX.TO).

QTIP.NEO and QDX.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QTIP.NEO is a passively managed fund by Mackenzie that tracks the performance of the Solactive US Treasury Inflation-Linked Bond Hedged to CAD TR Index. It was launched on Jan 24, 2018. QDX.TO is a passively managed fund by Mackenzie that tracks the performance of the Solactive GBS Developed Markets ex North America Large & Mid Cap CAD Index. It was launched on Jan 24, 2018. Both QTIP.NEO and QDX.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

QTIP.NEO vs. QDX.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 International Equity Index ETF (QDX.TO). The values are adjusted to include any dividend payments, if applicable.

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

2026 (YTD)20252024202320222021202020192018
QTIP.NEO
Mackenzie US TIPS Index ETF (CAD-Hedged)		0.29%4.82%0.82%3.50%-12.98%6.05%10.16%7.49%-0.75%
QDX.TO
Mackenzie International Equity Index ETF		2.63%25.29%12.93%13.66%-8.61%11.24%5.06%15.27%-8.78%

Returns By Period

In the year-to-date period, QTIP.NEO achieves a 0.29% return, which is significantly lower than QDX.TO's 2.63% return.

QTIP.NEO

1D
0.30%
1M
-1.31%
YTD
0.29%
6M
-0.36%
1Y
1.29%
3Y*
1.89%
5Y*
0.54%
10Y*
—

QDX.TO

1D
3.07%
1M
-5.76%
YTD
2.63%
6M
5.86%
1Y
19.56%
3Y*
15.55%
5Y*
10.13%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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Mackenzie US TIPS Index ETF (CAD-Hedged)

Mackenzie International Equity Index ETF

Often compared with QTIP.NEO:
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Often compared with QDX.TO:
QDX.TO vs. XMV.TOQDX.TO vs. TILV.TOQDX.TO vs. VIU.TOQDX.TO vs. QDXH.TOQDX.TO vs. QQQQ.TOQDX.TO vs. XEF.TOQDX.TO vs. VIDY.TO

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

QTIP.NEO has a 0.15% expense ratio, which is lower than QDX.TO's 0.17% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

QDX.TO
Mackenzie International Equity Index ETF
QTIP.NEO
Mackenzie US TIPS Index ETF (CAD-Hedged)

Return for Risk

QTIP.NEO vs. QDX.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: 2020
Overall Rank
QTIP.NEO Sharpe Ratio Rank: 2020
Sharpe Ratio Rank
QTIP.NEO Sortino Ratio Rank: 1717
Sortino Ratio Rank
QTIP.NEO Omega Ratio Rank: 1616
Omega Ratio Rank
QTIP.NEO Calmar Ratio Rank: 2525
Calmar Ratio Rank
QTIP.NEO Martin Ratio Rank: 2222
Martin Ratio Rank
QDX.TO
QDX.TO Risk / Return Rank: 6464
Overall Rank
QDX.TO Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
QDX.TO Sortino Ratio Rank: 6565
Sortino Ratio Rank
QDX.TO Omega Ratio Rank: 6363
Omega Ratio Rank
QDX.TO Calmar Ratio Rank: 6565
Calmar Ratio Rank
QDX.TO Martin Ratio Rank: 6363
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. QDX.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 International Equity Index ETF (QDX.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.

QTIP.NEOQDX.TODifference

Sharpe ratio

Return per unit of total volatility

0.32

1.16

-0.84

Sortino ratio

Return per unit of downside risk

0.46

1.68

-1.23

Omega ratio

Gain probability vs. loss probability

1.06

1.24

-0.18

Calmar ratio

Return relative to maximum drawdown

0.59

1.68

-1.10

Martin ratio

Return relative to average drawdown

1.43

6.49

-5.06

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current QTIP.NEO Sharpe Ratio is 0.32, which is lower than the QDX.TO Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of QTIP.NEO and QDX.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

QTIP.NEOQDX.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.32

1.16

-0.84

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.09

0.74

-0.66

Sharpe Ratio (All Time)

Calculated using the full available price history

0.34

0.51

-0.17

Correlation

The correlation between QTIP.NEO and QDX.TO is 0.08, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

QTIP.NEO vs. QDX.TO - Dividend Comparison

QTIP.NEO's dividend yield for the trailing twelve months is around 4.31%, more than QDX.TO's 2.82% yield.

TTM20252024202320222021202020192018
QTIP.NEO
Mackenzie US TIPS Index ETF (CAD-Hedged)		4.31%4.54%4.53%5.08%9.47%5.24%2.17%2.29%2.91%
QDX.TO
Mackenzie International Equity Index ETF		2.82%2.51%2.48%2.61%2.73%2.25%1.91%2.76%3.03%

Drawdowns

QTIP.NEO vs. QDX.TO - Drawdown Comparison

The maximum QTIP.NEO drawdown since its inception was -15.03%, smaller than the maximum QDX.TO drawdown of -28.08%. Use the drawdown chart below to compare losses from any high point for QTIP.NEO and QDX.TO.

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Drawdown Indicators

QTIP.NEOQDX.TODifference

Max Drawdown

Largest peak-to-trough decline

-15.03%

-28.08%

+13.05%

Max Drawdown (1Y)

Largest decline over 1 year

-2.65%

-11.30%

+8.65%

Max Drawdown (5Y)

Largest decline over 5 years

-15.03%

-23.00%

+7.97%

Current Drawdown

Current decline from peak

-4.64%

-6.59%

+1.95%

Average Drawdown

Average peak-to-trough decline

-4.80%

-4.59%

-0.21%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.09%

2.93%

-1.84%

Volatility

QTIP.NEO vs. QDX.TO - Volatility Comparison

The current volatility for Mackenzie US TIPS Index ETF (CAD-Hedged) (QTIP.NEO) is 1.37%, while Mackenzie International Equity Index ETF (QDX.TO) has a volatility of 7.54%. This indicates that QTIP.NEO experiences smaller price fluctuations and is considered to be less risky than QDX.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.NEOQDX.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

1.37%

7.54%

-6.17%

Volatility (6M)

Calculated over the trailing 6-month period

2.49%

10.85%

-8.36%

Volatility (1Y)

Calculated over the trailing 1-year period

4.10%

16.94%

-12.84%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.26%

13.72%

-7.46%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.36%

15.43%

-9.07%