TCLV.TO vs. ESGC.TO

Last updated Jun 4, 2026

TCLV.TO (TD Q Canadian Low Volatility ETF) and ESGC.TO (Invesco S&P/TSX Composite ESG Index ETF) are both Canada Equities funds. TCLV.TO is actively managed, while ESGC.TO is passively managed. Over the past 5 years, TCLV.TO returned 11.09%/yr vs 13.73%/yr for ESGC.TO. At a 0.46 correlation, their price movements are largely independent. TCLV.TO charges 0.33%/yr vs 0.15%/yr for ESGC.TO.

Performance

TCLV.TO vs. ESGC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in TD Q Canadian Low Volatility ETF (TCLV.TO) and Invesco S&P/TSX Composite ESG Index ETF (ESGC.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TCLV.TO achieves a 3.98% return, which is significantly lower than ESGC.TO's 12.27% return.

TCLV.TO

• 1D: 0.11%
• 1M: 1.52%
• YTD: 3.98%
• 6M: 6.36%
• 1Y: 13.14%
• 3Y*: 15.74%
• 5Y*: 11.09%
• 10Y*: —

ESGC.TO

• 1D: -0.35%
• 1M: 4.89%
• YTD: 12.27%
• 6M: 14.01%
• 1Y: 34.84%
• 3Y*: 22.81%
• 5Y*: 13.73%
• 10Y*: —

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

TCLV.TO vs. ESGC.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
TCLV.TO TD Q Canadian Low Volatility ETF	3.98%	24.55%	17.71%	2.95%	-0.91%	23.83%	1.22%
ESGC.TO Invesco S&P/TSX Composite ESG Index ETF	12.27%	32.85%	18.64%	7.50%	-7.28%	23.99%	5.27%

Correlation

The correlation between TCLV.TO and ESGC.TO is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (All Time) Calculated using the full available price history since Oct 9, 2020	0.46

Return for Risk

TCLV.TO vs. ESGC.TO — Risk / Return Rank

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

TCLV.TO

TCLV.TO Risk / Return Rank: 53
TCLV.TO Sharpe Ratio Rank: 47
TCLV.TO Sortino Ratio Rank: 51
TCLV.TO Omega Ratio Rank: 48
TCLV.TO Calmar Ratio Rank: 55
TCLV.TO Martin Ratio Rank: 62

ESGC.TO

ESGC.TO Risk / Return Rank: 82
ESGC.TO Sharpe Ratio Rank: 86
ESGC.TO Sortino Ratio Rank: 86
ESGC.TO Omega Ratio Rank: 88
ESGC.TO Calmar Ratio Rank: 70
ESGC.TO Martin Ratio Rank: 78

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.

TCLV.TO vs. ESGC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TD Q Canadian Low Volatility ETF (TCLV.TO) and Invesco S&P/TSX Composite ESG Index ETF (ESGC.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.

	TCLV.TO	ESGC.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.64	2.82	-1.18
Sortino ratio: Return per unit of downside risk	2.50	3.81	-1.31
Omega ratio: Gain probability vs. loss probability	1.30	1.55	-0.25
Calmar ratio: Return relative to maximum drawdown	2.73	3.45	-0.73
Martin ratio: Return relative to average drawdown	10.91	15.05	-4.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TCLV.TO vs. ESGC.TO - Sharpe Ratio Comparison

The current TCLV.TO Sharpe Ratio is 1.64, which is lower than the ESGC.TO Sharpe Ratio of 2.82. The chart below compares the historical Sharpe Ratios of TCLV.TO and ESGC.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.

Sharpe Ratios by Period

	TCLV.TO	ESGC.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.64	2.82	-1.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.16	1.09	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	1.32	1.26	+0.06

Drawdowns

TCLV.TO vs. ESGC.TO - Drawdown Comparison

The maximum TCLV.TO drawdown since its inception was -15.27%, smaller than the maximum ESGC.TO drawdown of -16.66%. Use the drawdown chart below to compare losses from any high point for TCLV.TO and ESGC.TO.

Drawdown Indicators

	TCLV.TO	ESGC.TO	Difference
Max Drawdown Largest peak-to-trough decline	-15.27%	-16.66%	+1.39%
Max Drawdown (1Y) Largest decline over 1 year	-4.84%	-10.14%	+5.30%
Max Drawdown (3Y) Largest decline over 3 years	-9.29%	-11.51%	+2.22%
Max Drawdown (5Y) Largest decline over 5 years	-15.27%	-16.66%	+1.39%
Current Drawdown Current decline from peak	-1.26%	-0.35%	-0.91%
Average Drawdown Average peak-to-trough decline	-3.07%	-3.61%	+0.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.22%	2.32%	-1.10%

Volatility

TCLV.TO vs. ESGC.TO - Volatility Comparison

The current volatility for TD Q Canadian Low Volatility ETF (TCLV.TO) is 2.44%, while Invesco S&P/TSX Composite ESG Index ETF (ESGC.TO) has a volatility of 4.19%. This indicates that TCLV.TO experiences smaller price fluctuations and is considered to be less risky than ESGC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TCLV.TO	ESGC.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.44%	4.19%	-1.75%
Volatility (6M) Calculated over the trailing 6-month period	6.35%	10.53%	-4.18%
Volatility (1Y) Calculated over the trailing 1-year period	8.04%	12.40%	-4.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.61%	12.67%	-3.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.77%	12.73%	-2.96%

TCLV.TO vs. ESGC.TO - Expense Ratio Comparison

TCLV.TO has a 0.33% expense ratio, which is higher than ESGC.TO's 0.15% expense ratio.

Dividends

TCLV.TO vs. ESGC.TO - Dividend Comparison

TCLV.TO's dividend yield for the trailing twelve months is around 1.86%, less than ESGC.TO's 2.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
ESGC.TO Invesco S&P/TSX Composite ESG Index ETF	2.13%	2.34%	2.60%	3.23%	2.98%	2.28%	0.67%
TCLV.TO TD Q Canadian Low Volatility ETF	1.86%	1.89%	2.68%	3.15%	2.84%	2.64%	1.59%

Frequently Asked Questions

Can I hold both TCLV.TO and ESGC.TO in my portfolio?

TCLV.TO and ESGC.TO have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TCLV.TO or ESGC.TO?

On fees, ESGC.TO is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TCLV.TO or ESGC.TO?

ESGC.TO is cheaper with a 0.15% expense ratio, compared with 0.33% for TCLV.TO.

What is the main difference between TCLV.TO and ESGC.TO?

They also come from different issuers: TD and Invesco. Their fees differ too: 0.33% for TCLV.TO and 0.15% for ESGC.TO.