TGED.TO vs. TCLV.TO

Last updated Jun 4, 2026

TGED.TO (TD Active Global Enhanced Dividend ETF) and TCLV.TO (TD Q Canadian Low Volatility ETF) are both exchange-traded funds - TGED.TO is a Global Equity Income fund actively managed by TD, while TCLV.TO is a Canada Equities fund actively managed by TD. Both are actively managed. Over the past 5 years, TGED.TO returned 17.21%/yr vs 11.09%/yr for TCLV.TO. At a 0.37 correlation, their price movements are largely independent. TGED.TO charges 0.72%/yr vs 0.33%/yr for TCLV.TO.

Performance

TGED.TO vs. TCLV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in TD Active Global Enhanced Dividend ETF (TGED.TO) and TD Q Canadian Low Volatility ETF (TCLV.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TGED.TO achieves a 18.74% return, which is significantly higher than TCLV.TO's 3.98% return.

TGED.TO

• 1D: 0.46%
• 1M: 7.40%
• YTD: 18.74%
• 6M: 16.61%
• 1Y: 30.23%
• 3Y*: 26.09%
• 5Y*: 17.21%
• 10Y*: —

TCLV.TO

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

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020
TGED.TO TD Active Global Enhanced Dividend ETF	18.74%	10.63%	38.60%	23.33%	-14.27%	20.42%	18.19%
TCLV.TO TD Q Canadian Low Volatility ETF	3.98%	24.55%	17.71%	2.95%	-0.91%	23.83%	7.13%

Correlation

The correlation between TGED.TO and TCLV.TO is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020	0.37

The correlation between TGED.TO and TCLV.TO shifts across timeframes, from 0.27 (1 year) to 0.39 (5 years), reflecting how their relationship changes across market environments.

TGED.TO vs. TCLV.TO - Sectors Allocation Comparison

Sectors	TGED.TO	TCLV.TO
Technology	29.5%	2.5%
Industrials	25.5%	11.1%
Financial Services	11.4%	28.5%
Healthcare	10.5%	-
Communication Services	6.4%	5.7%
Energy	5.1%	8.7%
Consumer Cyclical	4.2%	6.8%
Real Estate	3.7%	-
Basic Materials	2.2%	5.3%
Consumer Defensive	1.5%	17.3%
Utilities	0.2%	14.2%

Return for Risk

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

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

TGED.TO

TGED.TO Risk / Return Rank: 55
TGED.TO Sharpe Ratio Rank: 55
TGED.TO Sortino Ratio Rank: 53
TGED.TO Omega Ratio Rank: 53
TGED.TO Calmar Ratio Rank: 57
TGED.TO Martin Ratio Rank: 58

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

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.

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

This table presents a comparison of risk-adjusted performance metrics for TD Active Global Enhanced Dividend ETF (TGED.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.

	TGED.TO	TCLV.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.88	1.64	+0.24
Sortino ratio: Return per unit of downside risk	2.61	2.50	+0.11
Omega ratio: Gain probability vs. loss probability	1.33	1.30	+0.03
Calmar ratio: Return relative to maximum drawdown	2.82	2.73	+0.10
Martin ratio: Return relative to average drawdown	10.39	10.91	-0.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current TGED.TO Sharpe Ratio is 1.88, which is comparable to the TCLV.TO Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of TGED.TO and TCLV.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

	TGED.TO	TCLV.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.88	1.64	+0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.10	1.16	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	1.02	1.32	-0.30

Drawdowns

TGED.TO vs. TCLV.TO - Drawdown Comparison

The maximum TGED.TO drawdown since its inception was -26.19%, 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 TGED.TO and TCLV.TO.

Drawdown Indicators

	TGED.TO	TCLV.TO	Difference
Max Drawdown Largest peak-to-trough decline	-26.19%	-15.27%	-10.92%
Max Drawdown (1Y) Largest decline over 1 year	-10.76%	-4.84%	-5.92%
Max Drawdown (3Y) Largest decline over 3 years	-19.41%	-9.29%	-10.12%
Max Drawdown (5Y) Largest decline over 5 years	-23.05%	-15.27%	-7.78%
Current Drawdown Current decline from peak	-1.05%	-1.26%	+0.21%
Average Drawdown Average peak-to-trough decline	-4.66%	-3.07%	-1.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.92%	1.22%	+1.70%

Volatility

TGED.TO vs. TCLV.TO - Volatility Comparison

TD Active Global Enhanced Dividend ETF (TGED.TO) has a higher volatility of 6.39% compared to TD Q Canadian Low Volatility ETF (TCLV.TO) at 2.44%. This indicates that TGED.TO's price experiences larger fluctuations and is considered to be riskier than TCLV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TGED.TO	TCLV.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.39%	2.44%	+3.95%
Volatility (6M) Calculated over the trailing 6-month period	13.28%	6.35%	+6.93%
Volatility (1Y) Calculated over the trailing 1-year period	16.12%	8.04%	+8.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.78%	9.61%	+6.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.78%	9.77%	+7.01%

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

TGED.TO has a 0.72% expense ratio, which is higher than TCLV.TO's 0.33% expense ratio.

Dividends

TGED.TO vs. TCLV.TO - Dividend Comparison

TGED.TO's dividend yield for the trailing twelve months is around 3.31%, more than TCLV.TO's 1.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
TCLV.TO TD Q Canadian Low Volatility ETF	1.86%	1.89%	2.68%	3.15%	2.84%	2.64%	1.59%	0.00%
TGED.TO TD Active Global Enhanced Dividend ETF	3.31%	3.79%	3.01%	3.97%	4.70%	3.44%	3.63%	2.54%

Frequently Asked Questions

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

TGED.TO and TCLV.TO have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

On fees, TCLV.TO is cheaper at 0.33% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

TCLV.TO is cheaper with a 0.33% expense ratio, compared with 0.72% for TGED.TO.

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

TGED.TO is categorized as Global Equity Income, while TCLV.TO is Canada Equities. Their fees differ too: 0.72% for TGED.TO and 0.33% for TCLV.TO.