TCLV.TO vs. HVOI.TO

Last updated Apr 2, 2026

Compare and contrast key facts about TD Q Canadian Low Volatility ETF (TCLV.TO) and Harvest Low Volatility Canadian Equity Income ETF Class A (HVOI.TO).

TCLV.TO and HVOI.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TCLV.TO is an actively managed fund by TD. It was launched on May 26, 2020. HVOI.TO is an actively managed fund by Harvest. It was launched on Apr 11, 2025.

Performance

TCLV.TO vs. HVOI.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 Harvest Low Volatility Canadian Equity Income ETF Class A (HVOI.TO). The values are adjusted to include any dividend payments, if applicable.

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

	2026 (YTD)	2025
TCLV.TO TD Q Canadian Low Volatility ETF	1.20%	16.16%
HVOI.TO Harvest Low Volatility Canadian Equity Income ETF Class A	2.01%	15.20%

Returns By Period

In the year-to-date period, TCLV.TO achieves a 1.20% return, which is significantly lower than HVOI.TO's 2.01% return.

TCLV.TO

• 1D: 0.26%
• 1M: -2.52%
• YTD: 1.20%
• 6M: 6.39%
• 1Y: 17.20%
• 3Y*: 13.62%
• 5Y*: 11.55%
• 10Y*: —

HVOI.TO

• 1D: 0.30%
• 1M: -3.75%
• YTD: 2.01%
• 6M: 5.43%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

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

TCLV.TO

TD Q Canadian Low Volatility ETF

Return for Risk

TCLV.TO vs. HVOI.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: 87
TCLV.TO Sharpe Ratio Rank: 86
TCLV.TO Sortino Ratio Rank: 89
TCLV.TO Omega Ratio Rank: 87
TCLV.TO Calmar Ratio Rank: 84
TCLV.TO Martin Ratio Rank: 90

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. HVOI.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 Harvest Low Volatility Canadian Equity Income ETF Class A (HVOI.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	HVOI.TO	Difference
Sharpe ratio Return per unit of total volatility	1.83	—	—
Sortino ratio Return per unit of downside risk	2.61	—	—
Omega ratio Gain probability vs. loss probability	1.37	—	—
Calmar ratio Return relative to maximum drawdown	2.76	—	—
Martin ratio Return relative to average drawdown	12.86	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	TCLV.TO	HVOI.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.83	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.21	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.30	2.18	-0.88

Correlation

The correlation between TCLV.TO and HVOI.TO is 0.77, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

TCLV.TO vs. HVOI.TO - Dividend Comparison

TCLV.TO's dividend yield for the trailing twelve months is around 1.91%, less than HVOI.TO's 6.53% yield.

	TTM	2025	2024	2023	2022	2021	2020
TCLV.TO TD Q Canadian Low Volatility ETF	1.91%	1.89%	2.68%	3.15%	2.84%	2.64%	1.59%
HVOI.TO Harvest Low Volatility Canadian Equity Income ETF Class A	6.53%	4.76%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

TCLV.TO vs. HVOI.TO - Drawdown Comparison

The maximum TCLV.TO drawdown since its inception was -15.27%, which is greater than HVOI.TO's maximum drawdown of -6.72%. Use the drawdown chart below to compare losses from any high point for TCLV.TO and HVOI.TO.

Drawdown Indicators

	TCLV.TO	HVOI.TO	Difference
Max Drawdown Largest peak-to-trough decline	-15.27%	-6.72%	-8.55%
Max Drawdown (1Y) Largest decline over 1 year	-6.37%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.27%	—	—
Current Drawdown Current decline from peak	-2.52%	-4.02%	+1.50%
Average Drawdown Average peak-to-trough decline	-3.13%	-0.80%	-2.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.36%	—	—

Volatility

Volatility by Period

	TCLV.TO	HVOI.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.66%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.27%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	9.47%	8.43%	+1.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.56%	8.43%	+1.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.80%	8.43%	+1.37%