QXM.TO vs. DMEC.TO
QXM.TO (CI Morningstar National Bank Québec Index ETF) and DMEC.TO (Desjardins Canadian Equity Index ETF) are both Canada Equities funds. Over the past year, QXM.TO returned 24.00% vs 32.93% for DMEC.TO. A 0.53 correlation means they provide meaningful diversification when combined.
Performance
QXM.TO vs. DMEC.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, QXM.TO achieves a 6.00% return, which is significantly lower than DMEC.TO's 10.99% return.
QXM.TO
- 1D
- -1.03%
- 1M
- 2.42%
- YTD
- 6.00%
- 6M
- 5.73%
- 1Y
- 24.00%
- 3Y*
- 17.08%
- 5Y*
- 10.70%
- 10Y*
- 10.71%
DMEC.TO
- 1D
- 0.18%
- 1M
- 0.68%
- YTD
- 10.99%
- 6M
- 10.48%
- 1Y
- 32.93%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QXM.TO vs. DMEC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
QXM.TO CI Morningstar National Bank Québec Index ETF | 6.00% | 23.46% | 16.18% |
DMEC.TO Desjardins Canadian Equity Index ETF | 10.99% | 31.87% | 16.56% |
Correlation
The correlation between QXM.TO and DMEC.TO is 0.62, 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 | 0.62 |
Correlation (All Time) Calculated using the full available price history since Apr 18, 2024 | 0.53 |
The correlation between QXM.TO and DMEC.TO has been stable across timeframes, ranging from 0.53 to 0.62 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
QXM.TO vs. DMEC.TO — Risk / Return Rank
QXM.TO
DMEC.TO
QXM.TO vs. DMEC.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Morningstar National Bank Québec Index ETF (QXM.TO) and Desjardins Canadian Equity Index ETF (DMEC.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.
| QXM.TO | DMEC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.68 | ||
| Sortino ratioReturn per unit of downside risk | -0.54 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.45 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.57 | 3.51 | -0.94 |
| Martin ratioReturn relative to average drawdown | 9.52 | 15.85 | -6.33 |
Loading charts...
Drawdowns
QXM.TO vs. DMEC.TO - Drawdown Comparison
The maximum QXM.TO drawdown since its inception was -40.65%, which is greater than DMEC.TO's maximum drawdown of -12.15%. Use the drawdown chart below to compare losses from any high point for QXM.TO and DMEC.TO.
Loading charts...
Drawdown Indicators
| QXM.TO | DMEC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.65% | -12.15% | -28.50% |
Max Drawdown (1Y)Largest decline over 1 year | -9.38% | -9.41% | +0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -15.72% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -23.01% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -40.65% | — | — |
Current DrawdownCurrent decline from peak | -1.03% | -1.39% | +0.36% |
Average DrawdownAverage peak-to-trough decline | -4.19% | -1.42% | -2.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.53% | 2.08% | +0.45% |
Volatility
QXM.TO vs. DMEC.TO - Volatility Comparison
The current volatility for CI Morningstar National Bank Québec Index ETF (QXM.TO) is 2.48%, while Desjardins Canadian Equity Index ETF (DMEC.TO) has a volatility of 4.24%. This indicates that QXM.TO experiences smaller price fluctuations and is considered to be less risky than DMEC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| QXM.TO | DMEC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.48% | 4.24% | -1.76% |
Volatility (6M)Calculated over the trailing 6-month period | 11.23% | 10.75% | +0.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.01% | 13.06% | -0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.84% | 12.99% | +0.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.64% | 12.99% | +2.65% |
Dividends
QXM.TO vs. DMEC.TO - Dividend Comparison
QXM.TO's dividend yield for the trailing twelve months is around 1.01%, less than DMEC.TO's 1.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DMEC.TO Desjardins Canadian Equity Index ETF | 1.74% | 1.78% | 1.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QXM.TO CI Morningstar National Bank Québec Index ETF | 1.01% | 1.17% | 1.27% | 1.39% | 1.51% | 1.02% | 1.27% | 1.39% | 1.65% | 1.36% | 1.56% | 1.52% |
Frequently Asked Questions
QXM.TO and DMEC.TO have a correlation of 0.62, 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: CI and Desjardins.
Find the right allocation for QXM.TO and DMEC.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer