QUU.TO vs. GSWO

Last updated Jun 5, 2026

QUU.TO (Mackenzie US Large Cap Equity Index ETF) and GSWO (Goldman Sachs ActiveBeta World Equity ETF) are both exchange-traded funds - QUU.TO is a Large Cap Blend Equities fund tracking the Solactive US Large Cap CAD Index, while GSWO is a Global Equities fund tracking the Goldman Sachs ActiveBeta World Low Vol Plus Equity Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, QUU.TO returned 24.45%/yr vs 19.43%/yr for GSWO. A 0.77 correlation means they provide meaningful diversification when combined. QUU.TO charges 0.07%/yr vs 0.25%/yr for GSWO.

Performance

QUU.TO vs. GSWO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Mackenzie US Large Cap Equity Index ETF (QUU.TO) and Goldman Sachs ActiveBeta World Equity ETF (GSWO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

QUU.TO is traded in CAD, while GSWO is traded in USD. To make them comparable, the GSWO values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, QUU.TO achieves a 13.03% return, which is significantly higher than GSWO's 10.30% return.

QUU.TO

• 1D: 0.43%
• 1M: 5.44%
• YTD: 13.03%
• 6M: 11.82%
• 1Y: 31.88%
• 3Y*: 24.45%
• 5Y*: 16.94%
• 10Y*: —

GSWO

• 1D: -2.49%
• 1M: 2.07%
• YTD: 10.30%
• 6M: 10.18%
• 1Y: 20.14%
• 3Y*: 19.43%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

QUU.TO vs. GSWO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
QUU.TO Mackenzie US Large Cap Equity Index ETF	13.03%	13.08%	35.77%	25.01%	-7.25%
GSWO Goldman Sachs ActiveBeta World Equity ETF	10.30%	13.51%	25.19%	13.72%	0.64%

Correlation

The correlation between QUU.TO and GSWO is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (All Time) Calculated using the full available price history since Mar 18, 2022	0.77

The correlation between QUU.TO and GSWO has been stable across timeframes, ranging from 0.74 to 0.77 - a consistent structural relationship.

Return for Risk

QUU.TO vs. GSWO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QUU.TO

QUU.TO Risk / Return Rank: 76
QUU.TO Sharpe Ratio Rank: 79
QUU.TO Sortino Ratio Rank: 78
QUU.TO Omega Ratio Rank: 79
QUU.TO Calmar Ratio Rank: 71
QUU.TO Martin Ratio Rank: 71

GSWO

GSWO Risk / Return Rank: 50
GSWO Sharpe Ratio Rank: 50
GSWO Sortino Ratio Rank: 51
GSWO Omega Ratio Rank: 51
GSWO Calmar Ratio Rank: 43
GSWO Martin Ratio Rank: 57

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.

QUU.TO vs. GSWO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mackenzie US Large Cap Equity Index ETF (QUU.TO) and Goldman Sachs ActiveBeta World Equity ETF (GSWO). 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.

	QUU.TO	GSWO	Difference
Sharpe ratio: Return per unit of total volatility	2.53	1.89	+0.64
Sortino ratio: Return per unit of downside risk	3.46	2.68	+0.78
Omega ratio: Gain probability vs. loss probability	1.46	1.36	+0.10
Calmar ratio: Return relative to maximum drawdown	3.51	2.72	+0.79
Martin ratio: Return relative to average drawdown	13.05	11.65	+1.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QUU.TO vs. GSWO - Sharpe Ratio Comparison

The current QUU.TO Sharpe Ratio is 2.53, which is higher than the GSWO Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of QUU.TO and GSWO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	QUU.TO	GSWO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.53	1.89	+0.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.11	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	1.36	-0.44

Drawdowns

QUU.TO vs. GSWO - Drawdown Comparison

The maximum QUU.TO drawdown since its inception was -26.86%, which is greater than GSWO's maximum drawdown of -12.43%. Use the drawdown chart below to compare losses from any high point for QUU.TO and GSWO.

Drawdown Indicators

	QUU.TO	GSWO	Difference
Max Drawdown Largest peak-to-trough decline	-26.86%	-12.43%	-14.43%
Max Drawdown (1Y) Largest decline over 1 year	-8.81%	-7.45%	-1.36%
Max Drawdown (3Y) Largest decline over 3 years	-19.23%	-11.05%	-8.18%
Max Drawdown (5Y) Largest decline over 5 years	-24.00%	—	—
Current Drawdown Current decline from peak	0.00%	-2.49%	+2.49%
Average Drawdown Average peak-to-trough decline	-4.42%	-1.94%	-2.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.36%	1.73%	+0.63%

Volatility

QUU.TO vs. GSWO - Volatility Comparison

Mackenzie US Large Cap Equity Index ETF (QUU.TO) and Goldman Sachs ActiveBeta World Equity ETF (GSWO) have volatilities of 3.73% and 3.67%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QUU.TO	GSWO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.73%	3.67%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	9.22%	9.13%	+0.09%
Volatility (1Y) Calculated over the trailing 1-year period	12.23%	10.70%	+1.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.30%	11.00%	+4.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.29%	11.00%	+6.29%

QUU.TO vs. GSWO - Expense Ratio Comparison

QUU.TO has a 0.07% expense ratio, which is lower than GSWO's 0.25% 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%.

Dividends

QUU.TO vs. GSWO - Dividend Comparison

QUU.TO's dividend yield for the trailing twelve months is around 0.88%, less than GSWO's 1.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
GSWO Goldman Sachs ActiveBeta World Equity ETF	1.65%	1.74%	1.75%	2.06%	1.73%	0.00%	0.00%	0.00%	0.00%
QUU.TO Mackenzie US Large Cap Equity Index ETF	0.88%	0.97%	1.00%	1.21%	1.59%	0.98%	1.34%	1.59%	1.55%

Frequently Asked Questions

Can I hold both QUU.TO and GSWO in my portfolio?

QUU.TO and GSWO have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QUU.TO or GSWO?

On fees, QUU.TO is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QUU.TO or GSWO?

QUU.TO is cheaper with a 0.07% expense ratio, compared with 0.25% for GSWO.

What is the main difference between QUU.TO and GSWO?

QUU.TO is categorized as Large Cap Blend Equities, while GSWO is Global Equities. QUU.TO tracks Solactive US Large Cap CAD Index, while GSWO tracks Goldman Sachs ActiveBeta World Low Vol Plus Equity Index - Benchmark TR Net. They also come from different issuers: Mackenzie and Goldman Sachs. Their fees differ too: 0.07% for QUU.TO and 0.25% for GSWO.