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TBNK.TO vs. TCON.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TBNK.TO vs. TCON.TO

Last updated Jun 4, 2026

TBNK.TO (TD Canadian Bank Dividend Index ETF) and TCON.TO (TD Conservative ETF Portfolio) are both exchange-traded funds - TBNK.TO is a Dividend fund tracking the Solactive Canadian Bank Dividend Index (CA NTR), while TCON.TO is a Diversified Portfolio fund actively managed by TD. TBNK.TO is passively managed, while TCON.TO is actively managed. Over the past 3 years, TBNK.TO returned 32.24%/yr vs 10.64%/yr for TCON.TO. At a 0.45 correlation, their price movements are largely independent.

Performance

TBNK.TO vs. TCON.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in TD Canadian Bank Dividend Index ETF (TBNK.TO) and TD Conservative ETF Portfolio (TCON.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, TBNK.TO achieves a 19.17% return, which is significantly higher than TCON.TO's 5.47% return.

TBNK.TO

1D
-0.37%
1M
5.03%
YTD
19.17%
6M
24.78%
1Y
58.38%
3Y*
32.24%
5Y*
—
10Y*
—

TCON.TO

1D
-0.12%
1M
3.36%
YTD
5.47%
6M
5.16%
1Y
13.36%
3Y*
10.64%
5Y*
5.86%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

TBNK.TO vs. TCON.TO - Yearly Performance Comparison

2026 (YTD)202520242023
TBNK.TO
TD Canadian Bank Dividend Index ETF		19.17%44.62%20.33%7.34%
TCON.TO
TD Conservative ETF Portfolio		5.47%10.47%9.68%5.62%

Correlation

The correlation between TBNK.TO and TCON.TO is 0.61, 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

0.61

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

0.46

Correlation (All Time)
Calculated using the full available price history since Apr 28, 2023

0.45

The correlation between TBNK.TO and TCON.TO shifts across timeframes, from 0.45 (all time) to 0.61 (1 year), reflecting how their relationship changes across market environments.

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TD Canadian Bank Dividend Index ETF

TD Conservative ETF Portfolio

Often compared with TBNK.TO:
TBNK.TO vs. VDY.TOTBNK.TO vs. TQCD.TOTBNK.TO vs. SPYTBNK.TO vs. RYTBNK.TO vs. HMAX.TOTBNK.TO vs. RY.TOTBNK.TO vs. ZEB.TO
Often compared with TCON.TO:
TCON.TO vs. HBAL.TOTCON.TO vs. ZESG.TOTCON.TO vs. CSBG.NEOTCON.TO vs. PYF.TOTCON.TO vs. FCNSXTCON.TO vs. XTR.TOTCON.TO vs. CEQT.TO

Return for Risk

TBNK.TO vs. TCON.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TBNK.TO
TBNK.TO Risk / Return Rank: 9696
Overall Rank
TBNK.TO Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
TBNK.TO Sortino Ratio Rank: 9797
Sortino Ratio Rank
TBNK.TO Omega Ratio Rank: 9797
Omega Ratio Rank
TBNK.TO Calmar Ratio Rank: 9494
Calmar Ratio Rank
TBNK.TO Martin Ratio Rank: 9595
Martin Ratio Rank
TCON.TO
TCON.TO Risk / Return Rank: 6363
Overall Rank
TCON.TO Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
TCON.TO Sortino Ratio Rank: 6767
Sortino Ratio Rank
TCON.TO Omega Ratio Rank: 6969
Omega Ratio Rank
TCON.TO Calmar Ratio Rank: 5454
Calmar Ratio Rank
TCON.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.

TBNK.TO vs. TCON.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TD Canadian Bank Dividend Index ETF (TBNK.TO) and TD Conservative ETF Portfolio (TCON.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.

TBNK.TOTCON.TODifference
Sharpe ratioReturn per unit of total volatility
4.64
2.13

+2.52

Sortino ratioReturn per unit of downside risk
6.52
3.06

+3.46

Omega ratioGain probability vs. loss probability

1.86

1.41

+0.45

Calmar ratioReturn relative to maximum drawdown

7.11

2.65

+4.46

Martin ratioReturn relative to average drawdown

30.88

11.37

+19.51

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

TBNK.TO vs. TCON.TO - Sharpe Ratio Comparison

The current TBNK.TO Sharpe Ratio is 4.64, which is higher than the TCON.TO Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of TBNK.TO and TCON.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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Sharpe Ratios by Period

TBNK.TOTCON.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

4.64

2.13

+2.52

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.76

—

Sharpe Ratio (All Time)

Calculated using the full available price history

2.31

0.73

+1.57

Drawdowns

TBNK.TO vs. TCON.TO - Drawdown Comparison

The maximum TBNK.TO drawdown since its inception was -15.03%, smaller than the maximum TCON.TO drawdown of -16.43%. Use the drawdown chart below to compare losses from any high point for TBNK.TO and TCON.TO.

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Drawdown Indicators

TBNK.TOTCON.TODifference

Max Drawdown

Largest peak-to-trough decline

-15.03%

-16.43%

+1.40%

Max Drawdown (1Y)

Largest decline over 1 year

-8.25%

-5.06%

-3.19%

Max Drawdown (3Y)

Largest decline over 3 years

-15.03%

-6.18%

-8.85%

Max Drawdown (5Y)

Largest decline over 5 years

—

-16.43%

—

Current Drawdown

Current decline from peak

-2.59%

-0.12%

-2.47%

Average Drawdown

Average peak-to-trough decline

-2.45%

-3.74%

+1.29%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.90%

1.18%

+0.72%

Volatility

TBNK.TO vs. TCON.TO - Volatility Comparison

TD Canadian Bank Dividend Index ETF (TBNK.TO) has a higher volatility of 4.91% compared to TD Conservative ETF Portfolio (TCON.TO) at 1.98%. This indicates that TBNK.TO's price experiences larger fluctuations and is considered to be riskier than TCON.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TBNK.TOTCON.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.91%

1.98%

+2.93%

Volatility (6M)

Calculated over the trailing 6-month period

11.28%

5.27%

+6.01%

Volatility (1Y)

Calculated over the trailing 1-year period

12.63%

6.30%

+6.33%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.84%

7.78%

+5.06%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

12.84%

7.56%

+5.28%

Dividends

TBNK.TO vs. TCON.TO - Dividend Comparison

TBNK.TO's dividend yield for the trailing twelve months is around 2.45%, less than TCON.TO's 2.62% yield.

PositionTTM202520242023202220212020
TBNK.TO
TD Canadian Bank Dividend Index ETF		2.45%2.89%4.03%3.10%0.00%0.00%0.00%
TCON.TO
TD Conservative ETF Portfolio		2.62%2.88%3.48%3.27%2.69%1.87%1.03%

Frequently Asked Questions

TBNK.TO and TCON.TO have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

TBNK.TO is categorized as Dividend, while TCON.TO is Diversified Portfolio.

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