QXM.TO vs. TCLV.TO
QXM.TO (CI Morningstar National Bank Québec Index ETF) and TCLV.TO (TD Q Canadian Low Volatility ETF) are both Canada Equities funds. Over the past 5 years, QXM.TO returned 10.70%/yr vs 11.77%/yr for TCLV.TO. At a 0.41 correlation, their price movements are largely independent.
Performance
QXM.TO vs. TCLV.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 TCLV.TO's 7.11% 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%
TCLV.TO
- 1D
- -0.28%
- 1M
- 2.78%
- YTD
- 7.11%
- 6M
- 6.88%
- 1Y
- 15.67%
- 3Y*
- 16.67%
- 5Y*
- 11.77%
- 10Y*
- —
QXM.TO vs. TCLV.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
QXM.TO CI Morningstar National Bank Québec Index ETF | 6.00% | 23.46% | 20.08% | 13.24% | -6.91% | 16.60% | 26.02% |
TCLV.TO TD Q Canadian Low Volatility ETF | 7.11% | 24.55% | 17.71% | 2.95% | -0.91% | 23.83% | 7.27% |
Correlation
The correlation between QXM.TO and TCLV.TO is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2020 | 0.41 |
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. TCLV.TO — Risk / Return Rank
QXM.TO
TCLV.TO
QXM.TO vs. TCLV.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 TD Q Canadian Low Volatility ETF (TCLV.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 | TCLV.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.35 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.57 | 3.25 | -0.68 |
| Martin ratioReturn relative to average drawdown | 9.52 | 13.07 | -3.55 |
Loading charts...
Drawdowns
QXM.TO vs. TCLV.TO - Drawdown Comparison
The maximum QXM.TO drawdown since its inception was -40.65%, which is greater than TCLV.TO's maximum drawdown of -15.27%. Use the drawdown chart below to compare losses from any high point for QXM.TO and TCLV.TO.
Loading charts...
Drawdown Indicators
| QXM.TO | TCLV.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.65% | -15.27% | -25.38% |
Max Drawdown (1Y)Largest decline over 1 year | -9.38% | -4.84% | -4.54% |
Max Drawdown (3Y)Largest decline over 3 years | -15.72% | -9.29% | -6.43% |
Max Drawdown (5Y)Largest decline over 5 years | -23.01% | -15.27% | -7.74% |
Max Drawdown (10Y)Largest decline over 10 years | -40.65% | — | — |
Current DrawdownCurrent decline from peak | -1.03% | -1.15% | +0.12% |
Average DrawdownAverage peak-to-trough decline | -4.19% | -3.04% | -1.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.53% | 1.20% | +1.33% |
Volatility
QXM.TO vs. TCLV.TO - Volatility Comparison
CI Morningstar National Bank Québec Index ETF (QXM.TO) and TD Q Canadian Low Volatility ETF (TCLV.TO) have volatilities of 2.48% and 2.51%, 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.
Loading charts...
Volatility by Period
| QXM.TO | TCLV.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.48% | 2.51% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 11.23% | 6.64% | +4.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.01% | 8.19% | +4.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.84% | 9.68% | +4.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.64% | 9.77% | +5.87% |
Dividends
QXM.TO vs. TCLV.TO - Dividend Comparison
QXM.TO's dividend yield for the trailing twelve months is around 1.01%, less than TCLV.TO's 1.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
TCLV.TO TD Q Canadian Low Volatility ETF | 1.85% | 1.88% | 2.68% | 3.15% | 2.84% | 2.64% | 1.59% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
QXM.TO and TCLV.TO have a correlation of 0.41, 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 TD.
Find the right allocation for QXM.TO and TCLV.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