THE.TO vs. DXW.TO
THE.TO (TD International Equity CAD Hedged Index ETF) and DXW.TO (Dynamic Active International Dividend ETF) are both International Equity funds. THE.TO is passively managed, while DXW.TO is actively managed. Over the past 5 years, THE.TO returned 12.61%/yr vs 4.87%/yr for DXW.TO. At a 0.31 correlation, their price movements are largely independent.
Performance
THE.TO vs. DXW.TO - Performance Comparison
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Returns By Period
In the year-to-date period, THE.TO achieves a 11.99% return, which is significantly higher than DXW.TO's 10.24% return.
THE.TO
- 1D
- -0.24%
- 1M
- 0.98%
- 6M
- 7.35%
- YTD
- 11.99%
- 1Y
- 24.99%
- 3Y*
- 17.33%
- 5Y*
- 12.61%
- 10Y*
- 10.91%
DXW.TO
- 1D
- -0.32%
- 1M
- 1.76%
- 6M
- 5.31%
- YTD
- 10.24%
- 1Y
- 18.69%
- 3Y*
- 12.00%
- 5Y*
- 4.87%
- 10Y*
- —
THE.TO vs. DXW.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
THE.TO TD International Equity CAD Hedged Index ETF | 11.99% | 21.73% | 12.55% | 18.49% | -7.02% | 16.77% | 1.14% |
DXW.TO Dynamic Active International Dividend ETF | 10.24% | 20.35% | 0.97% | 15.88% | -18.80% | 9.57% | 16.97% |
Correlation
The correlation between THE.TO and DXW.TO is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2020 | 0.31 |
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Return for Risk
THE.TO vs. DXW.TO — Risk / Return Rank
THE.TO
DXW.TO
THE.TO vs. DXW.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TD International Equity CAD Hedged Index ETF (THE.TO) and Dynamic Active International Dividend ETF (DXW.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.
| THE.TO | DXW.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.67 | ||
| Sortino ratioReturn per unit of downside risk | +1.02 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.25 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.65 | 1.82 | +0.83 |
| Martin ratioReturn relative to average drawdown | 10.26 | 6.16 | +4.10 |
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Drawdowns
THE.TO vs. DXW.TO - Drawdown Comparison
The maximum THE.TO drawdown since its inception was -32.08%, roughly equal to the maximum DXW.TO drawdown of -30.99%. Use the drawdown chart below to compare losses from any high point for THE.TO and DXW.TO.
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Drawdown Indicators
| THE.TO | DXW.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.08% | -30.99% | -1.09% |
Max Drawdown (1Y)Largest decline over 1 year | -9.47% | -10.23% | +0.76% |
Max Drawdown (3Y)Largest decline over 3 years | -14.69% | -14.39% | -0.30% |
Max Drawdown (5Y)Largest decline over 5 years | -15.55% | -30.99% | +15.44% |
Max Drawdown (10Y)Largest decline over 10 years | -32.08% | — | — |
Current DrawdownCurrent decline from peak | -1.40% | -1.36% | -0.04% |
Average DrawdownAverage peak-to-trough decline | -3.69% | -7.52% | +3.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.44% | 3.02% | -0.58% |
Volatility
THE.TO vs. DXW.TO - Volatility Comparison
The current volatility for TD International Equity CAD Hedged Index ETF (THE.TO) is 2.97%, while Dynamic Active International Dividend ETF (DXW.TO) has a volatility of 3.79%. This indicates that THE.TO experiences smaller price fluctuations and is considered to be less risky than DXW.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| THE.TO | DXW.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.97% | 3.79% | -0.82% |
Volatility (6M)Calculated over the trailing 6-month period | 10.62% | 12.09% | -1.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.76% | 14.39% | -1.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.20% | 14.41% | -0.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.11% | 16.82% | +0.29% |
Dividends
THE.TO vs. DXW.TO - Dividend Comparison
THE.TO's dividend yield for the trailing twelve months is around 2.35%, more than DXW.TO's 1.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
DXW.TO Dynamic Active International Dividend ETF | 1.58% | 2.38% | 2.21% | 1.94% | 2.36% | 1.35% | 0.97% | 0.00% | 0.00% | 0.00% | 0.00% |
THE.TO TD International Equity CAD Hedged Index ETF | 2.35% | 2.57% | 2.73% | 2.65% | 3.46% | 2.20% | 2.47% | 2.52% | 3.52% | 2.87% | 2.10% |
Frequently Asked Questions
THE.TO and DXW.TO have a correlation of 0.23, 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 Dynamic.
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