TPU.TO vs. RUD.TO

Last updated Jun 24, 2026

TPU.TO (TD U.S. Equity Index ETF) and RUD.TO (RBC Quant U.S. Dividend Leaders ETF (CAD)) are both Large Cap Blend Equities funds. TPU.TO is passively managed, while RUD.TO is actively managed. Over the past 10 years, TPU.TO returned 16.40%/yr vs 17.31%/yr for RUD.TO. A 0.75 correlation means they provide meaningful diversification when combined. TPU.TO charges 0.06%/yr vs 0.43%/yr for RUD.TO.

Performance

TPU.TO vs. RUD.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in TD U.S. Equity Index ETF (TPU.TO) and RBC Quant U.S. Dividend Leaders ETF (CAD) (RUD.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TPU.TO achieves a 12.18% return, which is significantly higher than RUD.TO's 10.65% return. Over the past 10 years, TPU.TO has underperformed RUD.TO with an annualized return of 16.40%, while RUD.TO has yielded a comparatively higher 17.31% annualized return.

TPU.TO

• 1D: -1.12%
• 1M: 1.65%
• YTD: 12.18%
• 6M: 11.41%
• 1Y: 27.96%
• 3Y*: 24.09%
• 5Y*: 15.85%
• 10Y*: 16.40%

RUD.TO

• 1D: -0.80%
• 1M: 2.34%
• YTD: 10.65%
• 6M: 6.89%
• 1Y: 23.66%
• 3Y*: 19.61%
• 5Y*: 16.39%
• 10Y*: 17.31%

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

TPU.TO vs. RUD.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TPU.TO TD U.S. Equity Index ETF	12.18%	12.69%	35.78%	24.25%	-14.31%	26.02%	18.73%	25.02%	3.03%	13.31%
RUD.TO RBC Quant U.S. Dividend Leaders ETF (CAD)	10.65%	7.35%	25.76%	23.90%	-15.14%	54.34%	13.61%	25.93%	6.03%	14.39%

Correlation

The correlation between TPU.TO and RUD.TO is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (10Y) Calculated over the trailing 10-year period	0.75
Correlation (All Time) Calculated using the full available price history since Mar 30, 2016	0.75

The correlation between TPU.TO and RUD.TO has been stable across timeframes, ranging from 0.75 to 0.83 - a consistent structural relationship.

TPU.TO vs. RUD.TO - Sectors Allocation Comparison

Sectors	TPU.TO	RUD.TO
Technology	38.1%	31.1%
Financial Services	10.4%	12.9%
Communication Services	9.8%	8.4%
Healthcare	9.1%	8.0%
Industrials	8.6%	8.7%
Consumer Cyclical	8.6%	13.2%
Consumer Defensive	3.7%	8.4%
Energy	3.0%	5.0%
Real Estate	2.1%	0.8%
Utilities	2.1%	3.0%
Basic Materials	1.7%	0.5%

Return for Risk

TPU.TO vs. RUD.TO — Risk / Return Rank

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

TPU.TO

TPU.TO Risk / Return Rank: 71
TPU.TO Sharpe Ratio Rank: 74
TPU.TO Sortino Ratio Rank: 71
TPU.TO Omega Ratio Rank: 74
TPU.TO Calmar Ratio Rank: 68
TPU.TO Martin Ratio Rank: 68

RUD.TO

RUD.TO Risk / Return Rank: 66
RUD.TO Sharpe Ratio Rank: 62
RUD.TO Sortino Ratio Rank: 59
RUD.TO Omega Ratio Rank: 64
RUD.TO Calmar Ratio Rank: 75
RUD.TO Martin Ratio Rank: 73

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.

TPU.TO vs. RUD.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TD U.S. Equity Index ETF (TPU.TO) and RBC Quant U.S. Dividend Leaders ETF (CAD) (RUD.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.

	TPU.TO	RUD.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.27	1.91	+0.36
Sortino ratio: Return per unit of downside risk	3.05	2.61	+0.44
Omega ratio: Gain probability vs. loss probability	1.42	1.36	+0.06
Calmar ratio: Return relative to maximum drawdown	3.24	3.58	-0.34
Martin ratio: Return relative to average drawdown	11.93	12.74	-0.81

TPU.TO vs. RUD.TO - Sharpe Ratio Comparison

The current TPU.TO Sharpe Ratio is 2.27, which is comparable to the RUD.TO Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of TPU.TO and RUD.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.

Drawdowns

TPU.TO vs. RUD.TO - Drawdown Comparison

The maximum TPU.TO drawdown since its inception was -27.96%, smaller than the maximum RUD.TO drawdown of -35.99%. Use the drawdown chart below to compare losses from any high point for TPU.TO and RUD.TO.

Drawdown Indicators

	TPU.TO	RUD.TO	Difference
Max Drawdown Largest peak-to-trough decline	-27.96%	-35.99%	+8.03%
Max Drawdown (1Y) Largest decline over 1 year	-8.68%	-6.65%	-2.03%
Max Drawdown (3Y) Largest decline over 3 years	-19.30%	-28.31%	+9.01%
Max Drawdown (5Y) Largest decline over 5 years	-23.73%	-28.31%	+4.58%
Max Drawdown (10Y) Largest decline over 10 years	-27.96%	-35.99%	+8.03%
Current Drawdown Current decline from peak	-1.60%	-0.87%	-0.73%
Average Drawdown Average peak-to-trough decline	-3.96%	-10.08%	+6.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.35%	1.86%	+0.49%

Volatility

TPU.TO vs. RUD.TO - Volatility Comparison

TD U.S. Equity Index ETF (TPU.TO) has a higher volatility of 4.73% compared to RBC Quant U.S. Dividend Leaders ETF (CAD) (RUD.TO) at 3.70%. This indicates that TPU.TO's price experiences larger fluctuations and is considered to be riskier than RUD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TPU.TO	RUD.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.73%	3.70%	+1.03%
Volatility (6M) Calculated over the trailing 6-month period	9.65%	9.78%	-0.13%
Volatility (1Y) Calculated over the trailing 1-year period	12.40%	12.44%	-0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.45%	35.34%	-19.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.78%	44.72%	-27.94%

TPU.TO vs. RUD.TO - Expense Ratio Comparison

TPU.TO has a 0.06% expense ratio, which is lower than RUD.TO's 0.43% expense ratio.

Dividends

TPU.TO vs. RUD.TO - Dividend Comparison

TPU.TO's dividend yield for the trailing twelve months is around 0.85%, less than RUD.TO's 1.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RUD.TO RBC Quant U.S. Dividend Leaders ETF (CAD)	1.38%	1.38%	3.43%	5.24%	5.51%	3.38%	5.73%	6.77%	7.06%	6.23%	6.07%	7.42%
TPU.TO TD U.S. Equity Index ETF	0.85%	0.96%	0.90%	1.23%	1.34%	0.99%	1.23%	1.23%	1.57%	1.59%	1.33%	0.00%

Frequently Asked Questions

Can I hold both TPU.TO and RUD.TO in my portfolio?

TPU.TO and RUD.TO have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TPU.TO or RUD.TO?

On fees, TPU.TO is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TPU.TO or RUD.TO?

TPU.TO is cheaper with a 0.06% expense ratio, compared with 0.43% for RUD.TO.

What is the main difference between TPU.TO and RUD.TO?

They also come from different issuers: TD and RBC. Their fees differ too: 0.06% for TPU.TO and 0.43% for RUD.TO.