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THU.TO vs. TBNK.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

THU.TO vs. TBNK.TO

Last updated Jul 16, 2026
Documentation

THU.TO (TD U.S. Equity CAD Hedged Index ETF) and TBNK.TO (TD Canadian Bank Dividend Index ETF) are both exchange-traded funds - THU.TO is a Large Cap Blend Equities fund actively managed by TD, while TBNK.TO is a Dividend fund tracking the Solactive Canadian Bank Dividend Index (CA NTR). THU.TO is actively managed, while TBNK.TO is passively managed. Over the past 3 years, THU.TO returned 18.83%/yr vs 36.93%/yr for TBNK.TO. A 0.51 correlation means they provide meaningful diversification when combined.

Performance

THU.TO vs. TBNK.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in TD U.S. Equity CAD Hedged Index ETF (THU.TO) and TD Canadian Bank Dividend Index ETF (TBNK.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, THU.TO achieves a 10.16% return, which is significantly lower than TBNK.TO's 37.19% return.

THU.TO

1D
0.31%
1M
0.07%
6M
9.01%
YTD
10.16%
1Y
20.09%
3Y*
18.83%
5Y*
11.29%
10Y*
13.51%

TBNK.TO

1D
1.70%
1M
9.27%
6M
36.37%
YTD
37.19%
1Y
73.80%
3Y*
36.93%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

THU.TO vs. TBNK.TO - Yearly Performance Comparison

2026 (YTD)202520242023
THU.TO
TD U.S. Equity CAD Hedged Index ETF		10.16%15.44%23.50%18.99%
TBNK.TO
TD Canadian Bank Dividend Index ETF		37.19%44.62%20.33%7.99%

Correlation

The correlation between THU.TO and TBNK.TO is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.56

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

0.52

Correlation (All Time)
Calculated using the full available price history since Apr 27, 2023

0.51

The correlation between THU.TO and TBNK.TO has been stable across timeframes, ranging from 0.51 to 0.56 - a consistent structural relationship.

Compare stocks, funds, or ETFs

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

TD U.S. Equity CAD Hedged Index ETF

TD Canadian Bank Dividend Index ETF

Often compared with TBNK.TO:
TBNK.TO vs. VDY.TOTBNK.TO vs. TQCD.TOTBNK.TO vs. SPYTBNK.TO vs. ZEB.TOTBNK.TO vs. RYTBNK.TO vs. RBNK.TOTBNK.TO vs. HMAX.TO

Return for Risk

THU.TO vs. TBNK.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
THU.TO
THU.TO Risk / Return Rank: 5656
Overall Rank
THU.TO Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
THU.TO Sortino Ratio Rank: 5656
Sortino Ratio Rank
THU.TO Omega Ratio Rank: 5555
Omega Ratio Rank
THU.TO Calmar Ratio Rank: 5151
Calmar Ratio Rank
THU.TO Martin Ratio Rank: 6363
Martin Ratio Rank
TBNK.TO
TBNK.TO Risk / Return Rank: 9898
Overall Rank
TBNK.TO Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
TBNK.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
TBNK.TO Omega Ratio Rank: 9898
Omega Ratio Rank
TBNK.TO Calmar Ratio Rank: 9797
Calmar Ratio Rank
TBNK.TO Martin Ratio Rank: 9898
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.

THU.TO vs. TBNK.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TD U.S. Equity CAD Hedged Index ETF (THU.TO) and TD Canadian Bank Dividend Index ETF (TBNK.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.

THU.TOTBNK.TODifference
Sharpe ratioReturn per unit of total volatility
1.57
5.55

-3.98

Sortino ratioReturn per unit of downside risk
2.21
7.41

-5.20

Omega ratioGain probability vs. loss probability

1.28

1.99

-0.71

Calmar ratioReturn relative to maximum drawdown

2.11

8.99

-6.88

Martin ratioReturn relative to average drawdown

9.01

38.88

-29.86

THU.TO vs. TBNK.TO - Sharpe Ratio Comparison

The current THU.TO Sharpe Ratio is 1.57, which is lower than the TBNK.TO Sharpe Ratio of 5.55. The chart below compares the historical Sharpe Ratios of THU.TO and TBNK.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

THU.TO vs. TBNK.TO - Drawdown Comparison

The maximum THU.TO drawdown since its inception was -34.64%, which is greater than TBNK.TO's maximum drawdown of -15.03%. Use the drawdown chart below to compare losses from any high point for THU.TO and TBNK.TO.

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Drawdown Indicators

THU.TOTBNK.TODifference

Max Drawdown

Largest peak-to-trough decline

-34.64%

-15.03%

-19.61%

Max Drawdown (1Y)

Largest decline over 1 year

-9.59%

-8.25%

-1.34%

Max Drawdown (3Y)

Largest decline over 3 years

-19.16%

-15.03%

-4.13%

Max Drawdown (5Y)

Largest decline over 5 years

-26.37%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-34.64%

—

—

Current Drawdown

Current decline from peak

-0.64%

0.00%

-0.64%

Average Drawdown

Average peak-to-trough decline

-4.81%

-2.37%

-2.44%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.23%

1.90%

+0.33%

Volatility

THU.TO vs. TBNK.TO - Volatility Comparison

The current volatility for TD U.S. Equity CAD Hedged Index ETF (THU.TO) is 3.40%, while TD Canadian Bank Dividend Index ETF (TBNK.TO) has a volatility of 4.21%. This indicates that THU.TO experiences smaller price fluctuations and is considered to be less risky than TBNK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

THU.TOTBNK.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.40%

4.21%

-0.81%

Volatility (6M)

Calculated over the trailing 6-month period

10.17%

11.70%

-1.53%

Volatility (1Y)

Calculated over the trailing 1-year period

12.84%

13.38%

-0.54%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.75%

12.90%

+3.85%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.40%

12.90%

+4.50%

Dividends

THU.TO vs. TBNK.TO - Dividend Comparison

THU.TO's dividend yield for the trailing twelve months is around 0.96%, less than TBNK.TO's 2.14% yield.

PositionTTM2025202420232022202120202019201820172016
TBNK.TO
TD Canadian Bank Dividend Index ETF		2.14%2.89%4.03%3.10%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
THU.TO
TD U.S. Equity CAD Hedged Index ETF		0.96%1.05%1.25%1.20%1.42%1.00%1.28%1.21%1.66%1.54%1.37%

Frequently Asked Questions

THU.TO and TBNK.TO have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

THU.TO is categorized as Large Cap Blend Equities, while TBNK.TO is Dividend.

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