PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
TEQT.TO vs. PZW.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TEQT.TO vs. PZW.TO

Last updated Jun 24, 2026

TEQT.TO (TD All-Equity ETF Portfolio) and PZW.TO (Invesco FTSE RAFI Global Small-Mid ETF) are both Global Equities funds - TEQT.TO tracks the 25% Solactive Canada Broad Market Index (C$, Net Total Return); 55% Solactive US Large Cap CAD Index (C$, Net Total Return); 20% Solactive GBS Developed Markets ex. North America Large & Mid Cap CAD Index (C$, Net Total Return) while PZW.TO tracks the 50% FTSE RAFI Developed ex US Mid-Small 1500 Index / 50% FTSE RAFI US 1500 Mid-Small Index. Both are passively managed. Over the past year, TEQT.TO returned 29.36% vs 34.57% for PZW.TO. At a 0.33 correlation, their price movements are largely independent.

Performance

TEQT.TO vs. PZW.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in TD All-Equity ETF Portfolio (TEQT.TO) and Invesco FTSE RAFI Global Small-Mid ETF (PZW.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, TEQT.TO achieves a 11.89% return, which is significantly lower than PZW.TO's 16.48% return.

TEQT.TO

1D
-0.97%
1M
1.68%
YTD
11.89%
6M
11.27%
1Y
29.36%
3Y*
—
5Y*
—
10Y*
—

PZW.TO

1D
1.10%
1M
4.21%
YTD
16.48%
6M
15.19%
1Y
34.57%
3Y*
20.29%
5Y*
10.96%
10Y*
11.63%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TEQT.TO vs. PZW.TO - Yearly Performance Comparison

2026 (YTD)2025
TEQT.TO
TD All-Equity ETF Portfolio		11.89%27.28%
PZW.TO
Invesco FTSE RAFI Global Small-Mid ETF		16.48%28.85%

Correlation

The correlation between TEQT.TO and PZW.TO is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.33

Correlation (All Time)
Calculated using the full available price history since Apr 15, 2025

0.33

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

TD All-Equity ETF Portfolio

Invesco FTSE RAFI Global Small-Mid ETF

Often compared with TEQT.TO:
TEQT.TO vs. XEQT.TOTEQT.TO vs. VEQT.TOTEQT.TO vs. TGRO.TOTEQT.TO vs. ZEQT.TOTEQT.TO vs. CAGE.TOTEQT.TO vs. TBAL.TOTEQT.TO vs. FEQT.NEO
Often compared with PZW.TO:
PZW.TO vs. EQL.TOPZW.TO vs. INAI.TOPZW.TO vs. QQC.TOPZW.TO vs. QQCE.TOPZW.TO vs. VDU.TOPZW.TO vs. XWD.TOPZW.TO vs. QQC-F.TO

Return for Risk

TEQT.TO vs. PZW.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TEQT.TO
TEQT.TO Risk / Return Rank: 8282
Overall Rank
TEQT.TO Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
TEQT.TO Sortino Ratio Rank: 8383
Sortino Ratio Rank
TEQT.TO Omega Ratio Rank: 8383
Omega Ratio Rank
TEQT.TO Calmar Ratio Rank: 7878
Calmar Ratio Rank
TEQT.TO Martin Ratio Rank: 8282
Martin Ratio Rank
PZW.TO
PZW.TO Risk / Return Rank: 8585
Overall Rank
PZW.TO Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
PZW.TO Sortino Ratio Rank: 8888
Sortino Ratio Rank
PZW.TO Omega Ratio Rank: 8686
Omega Ratio Rank
PZW.TO Calmar Ratio Rank: 8484
Calmar Ratio Rank
PZW.TO Martin Ratio Rank: 8181
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.

TEQT.TO vs. PZW.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TD All-Equity ETF Portfolio (TEQT.TO) and Invesco FTSE RAFI Global Small-Mid ETF (PZW.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.

TEQT.TOPZW.TODifference
Sharpe ratioReturn per unit of total volatility
2.53
2.44

+0.09

Sortino ratioReturn per unit of downside risk
3.51
3.57

-0.06

Omega ratioGain probability vs. loss probability

1.47

1.48

-0.01

Calmar ratioReturn relative to maximum drawdown

3.87

4.07

-0.20

Martin ratioReturn relative to average drawdown

15.66

14.54

+1.12

TEQT.TO vs. PZW.TO - Sharpe Ratio Comparison

The current TEQT.TO Sharpe Ratio is 2.53, which is comparable to the PZW.TO Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of TEQT.TO and PZW.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.

Loading charts...

Drawdowns

TEQT.TO vs. PZW.TO - Drawdown Comparison

The maximum TEQT.TO drawdown since its inception was -7.62%, smaller than the maximum PZW.TO drawdown of -32.45%. Use the drawdown chart below to compare losses from any high point for TEQT.TO and PZW.TO.

Loading charts...

Drawdown Indicators

TEQT.TOPZW.TODifference

Max Drawdown

Largest peak-to-trough decline

-7.62%

-32.45%

+24.83%

Max Drawdown (1Y)

Largest decline over 1 year

-7.62%

-8.50%

+0.88%

Max Drawdown (3Y)

Largest decline over 3 years

—

-16.88%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-22.13%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-32.45%

—

Current Drawdown

Current decline from peak

-1.15%

0.00%

-1.15%

Average Drawdown

Average peak-to-trough decline

-1.00%

-5.73%

+4.73%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.88%

2.38%

-0.50%

Volatility

TEQT.TO vs. PZW.TO - Volatility Comparison

TD All-Equity ETF Portfolio (TEQT.TO) has a higher volatility of 3.98% compared to Invesco FTSE RAFI Global Small-Mid ETF (PZW.TO) at 3.07%. This indicates that TEQT.TO's price experiences larger fluctuations and is considered to be riskier than PZW.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

TEQT.TOPZW.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.98%

3.07%

+0.91%

Volatility (6M)

Calculated over the trailing 6-month period

9.40%

10.46%

-1.06%

Volatility (1Y)

Calculated over the trailing 1-year period

11.68%

14.19%

-2.51%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.38%

14.66%

-2.28%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

12.38%

15.94%

-3.56%

Dividends

TEQT.TO vs. PZW.TO - Dividend Comparison

TEQT.TO's dividend yield for the trailing twelve months is around 1.31%, less than PZW.TO's 1.67% yield.

PositionTTM20252024202320222021202020192018201720162015
PZW.TO
Invesco FTSE RAFI Global Small-Mid ETF		1.67%1.97%2.12%3.23%1.90%1.93%1.52%2.26%1.78%1.57%1.09%0.96%
TEQT.TO
TD All-Equity ETF Portfolio		1.31%1.14%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

TEQT.TO and PZW.TO have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

TEQT.TO tracks 25% Solactive Canada Broad Market Index (C$, Net Total Return); 55% Solactive US Large Cap CAD Index (C$, Net Total Return); 20% Solactive GBS Developed Markets ex. North America Large & Mid Cap CAD Index (C$, Net Total Return), while PZW.TO tracks 50% FTSE RAFI Developed ex US Mid-Small 1500 Index / 50% FTSE RAFI US 1500 Mid-Small Index. They also come from different issuers: TD and Invesco.

Portfolio Optimizer

Find the right allocation for TEQT.TO and PZW.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