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TGGR.TO vs. PZW.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TGGR.TO vs. PZW.TO

Last updated Jul 1, 2026
See Documentation

TGGR.TO (TD Active Global Equity Growth ETF) and PZW.TO (Invesco FTSE RAFI Global Small-Mid ETF) are both Global Equities funds. TGGR.TO is actively managed, while PZW.TO is passively managed. Over the past 5 years, TGGR.TO returned 12.28%/yr vs 10.71%/yr for PZW.TO. At a 0.31 correlation, their price movements are largely independent.

Performance

TGGR.TO vs. PZW.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in TD Active Global Equity Growth ETF (TGGR.TO) and Invesco FTSE RAFI Global Small-Mid ETF (PZW.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, TGGR.TO achieves a 13.94% return, which is significantly lower than PZW.TO's 17.33% return.

TGGR.TO

1D
1.07%
1M
5.64%
YTD
13.94%
6M
13.58%
1Y
25.78%
3Y*
18.19%
5Y*
12.28%
10Y*
—

PZW.TO

1D
0.29%
1M
3.40%
YTD
17.33%
6M
16.85%
1Y
32.19%
3Y*
20.71%
5Y*
10.71%
10Y*
11.60%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020
TGGR.TO
TD Active Global Equity Growth ETF		13.94%9.22%22.80%25.77%-16.26%26.36%16.94%
PZW.TO
Invesco FTSE RAFI Global Small-Mid ETF		17.33%18.48%16.03%12.88%-10.53%17.53%25.83%

Correlation

The correlation between TGGR.TO and PZW.TO is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.30

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

0.35

Correlation (5Y)
Calculated over the trailing 5-year period

0.35

Correlation (All Time)
Calculated using the full available price history since Jun 3, 2020

0.31

TGGR.TO vs. PZW.TO - Sectors Allocation Comparison

Sectors
TGGR.TO
PZW.TO

Technology

31.6%
12.2%

Financial Services

13.1%
13.3%

Healthcare

13.0%
12.7%

Industrials

10.4%
19.2%

Consumer Cyclical

9.4%
12.1%

Communication Services

8.2%
3.8%

Consumer Defensive

4.2%
4.6%

Energy

2.5%
4.1%

Real Estate

1.7%
8.8%

Basic Materials

1.4%
7.0%

Utilities

0.6%
2.3%

Technology

TGGR.TO
31.6%
PZW.TO
12.2%

Financial Services

TGGR.TO
13.1%
PZW.TO
13.3%

Healthcare

TGGR.TO
13.0%
PZW.TO
12.7%

Industrials

TGGR.TO
10.4%
PZW.TO
19.2%

Consumer Cyclical

TGGR.TO
9.4%
PZW.TO
12.1%

Communication Services

TGGR.TO
8.2%
PZW.TO
3.8%

Consumer Defensive

TGGR.TO
4.2%
PZW.TO
4.6%

Energy

TGGR.TO
2.5%
PZW.TO
4.1%

Real Estate

TGGR.TO
1.7%
PZW.TO
8.8%

Basic Materials

TGGR.TO
1.4%
PZW.TO
7.0%

Utilities

TGGR.TO
0.6%
PZW.TO
2.3%

Compare stocks, funds, or ETFs

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

TD Active Global Equity Growth ETF

Invesco FTSE RAFI Global Small-Mid ETF

Often compared with TGGR.TO:
TGGR.TO vs. TGED.TOTGGR.TO vs. TTP.TOTGGR.TO vs. XDGH.TOTGGR.TO vs. XMW.TOTGGR.TO vs. MEQT.TOTGGR.TO vs. TEQT.TOTGGR.TO vs. TPE.TO
Often compared with PZW.TO:
PZW.TO vs. INAI.TOPZW.TO vs. PXC.TOPZW.TO vs. EQL.TOPZW.TO vs. QQC.TOPZW.TO vs. TEQT.TOPZW.TO vs. QQC-F.TOPZW.TO vs. QQCE.TO

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TGGR.TO
TGGR.TO Risk / Return Rank: 6868
Overall Rank
TGGR.TO Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
TGGR.TO Sortino Ratio Rank: 7676
Sortino Ratio Rank
TGGR.TO Omega Ratio Rank: 7070
Omega Ratio Rank
TGGR.TO Calmar Ratio Rank: 6060
Calmar Ratio Rank
TGGR.TO Martin Ratio Rank: 6161
Martin Ratio Rank
PZW.TO
PZW.TO Risk / Return Rank: 8383
Overall Rank
PZW.TO Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
PZW.TO Sortino Ratio Rank: 8686
Sortino Ratio Rank
PZW.TO Omega Ratio Rank: 8686
Omega Ratio Rank
PZW.TO Calmar Ratio Rank: 8282
Calmar Ratio Rank
PZW.TO Martin Ratio Rank: 8080
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.

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

This table presents a comparison of risk-adjusted performance metrics for TD Active Global Equity Growth ETF (TGGR.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.

TGGR.TOPZW.TODifference
Sharpe ratioReturn per unit of total volatility
1.98
2.28

-0.30

Sortino ratioReturn per unit of downside risk
2.91
3.35

-0.44

Omega ratioGain probability vs. loss probability

1.35

1.45

-0.09

Calmar ratioReturn relative to maximum drawdown

2.54

3.79

-1.25

Martin ratioReturn relative to average drawdown

9.43

13.53

-4.10

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

The current TGGR.TO Sharpe Ratio is 1.98, which is comparable to the PZW.TO Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of TGGR.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.

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Drawdowns

TGGR.TO vs. PZW.TO - Drawdown Comparison

The maximum TGGR.TO drawdown since its inception was -27.61%, smaller than the maximum PZW.TO drawdown of -32.45%. Use the drawdown chart below to compare losses from any high point for TGGR.TO and PZW.TO.

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Drawdown Indicators

TGGR.TOPZW.TODifference

Max Drawdown

Largest peak-to-trough decline

-27.61%

-32.45%

+4.84%

Max Drawdown (1Y)

Largest decline over 1 year

-10.18%

-8.50%

-1.68%

Max Drawdown (3Y)

Largest decline over 3 years

-18.71%

-16.88%

-1.83%

Max Drawdown (5Y)

Largest decline over 5 years

-27.61%

-22.13%

-5.48%

Max Drawdown (10Y)

Largest decline over 10 years

—

-32.45%

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-5.76%

-5.72%

-0.04%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.74%

2.38%

+0.36%

Volatility

TGGR.TO vs. PZW.TO - Volatility Comparison

TD Active Global Equity Growth ETF (TGGR.TO) has a higher volatility of 3.96% compared to Invesco FTSE RAFI Global Small-Mid ETF (PZW.TO) at 2.90%. This indicates that TGGR.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.

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Volatility by Period

TGGR.TOPZW.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.96%

2.90%

+1.06%

Volatility (6M)

Calculated over the trailing 6-month period

10.83%

10.41%

+0.42%

Volatility (1Y)

Calculated over the trailing 1-year period

13.07%

14.17%

-1.10%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.85%

14.65%

+1.20%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.51%

15.90%

-0.39%

Dividends

TGGR.TO vs. PZW.TO - Dividend Comparison

TGGR.TO's dividend yield for the trailing twelve months is around 0.49%, less than PZW.TO's 1.65% yield.

PositionTTM20252024202320222021202020192018201720162015
PZW.TO
Invesco FTSE RAFI Global Small-Mid ETF		1.65%1.97%2.12%3.23%1.90%1.93%1.52%2.26%1.78%1.57%1.09%0.96%
TGGR.TO
TD Active Global Equity Growth ETF		0.49%0.56%0.52%0.56%0.55%0.32%0.06%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

TGGR.TO and PZW.TO have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

They also come from different issuers: TD and Invesco.

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