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TQGD.TO vs. ACWI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TQGD.TO vs. ACWI

Last updated Jul 14, 2026
Documentation

TQGD.TO (TD Q Global Dividend ETF) and ACWI (iShares MSCI ACWI ETF) are both exchange-traded funds - TQGD.TO is a Global Equity Income fund tracking the MSCI World Index (Total Return), while ACWI is a Global Equities fund tracking the MSCI All Country World Index. Both are passively managed. Over the past 5 years, TQGD.TO returned 14.95%/yr vs 13.50%/yr for ACWI. At a 0.48 correlation, their price movements are largely independent. TQGD.TO charges 0.44%/yr vs 0.32%/yr for ACWI.

Performance

TQGD.TO vs. ACWI - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in TD Q Global Dividend ETF (TQGD.TO) and iShares MSCI ACWI ETF (ACWI). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

TQGD.TO is traded in CAD, while ACWI is traded in USD. To make them comparable, the ACWI values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, TQGD.TO achieves a 16.41% return, which is significantly higher than ACWI's 14.73% return.

TQGD.TO

1D
-0.46%
1M
1.87%
6M
12.99%
YTD
16.41%
1Y
27.40%
3Y*
19.55%
5Y*
14.95%
10Y*
—

ACWI

1D
-1.10%
1M
1.68%
6M
9.90%
YTD
14.73%
1Y
27.10%
3Y*
21.91%
5Y*
13.50%
10Y*
13.56%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TQGD.TO vs. ACWI - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
TQGD.TO
TD Q Global Dividend ETF		16.41%16.45%17.67%15.06%-2.95%26.09%-9.55%5.90%
ACWI
iShares MSCI ACWI ETF		14.73%16.83%27.39%19.37%-13.21%18.60%13.58%2.52%

Correlation

The correlation between TQGD.TO and ACWI is 0.60, 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

0.60

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

0.60

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

0.55

Correlation (All Time)
Calculated using the full available price history since Nov 20, 2019

0.48

The correlation between TQGD.TO and ACWI shifts across timeframes, from 0.48 (all time) to 0.60 (3 years), reflecting how their relationship changes across market environments.

TQGD.TO vs. ACWI - Sectors Allocation Comparison

Sectors
TQGD.TO
ACWI

Technology

31.2%
32.5%

Financial Services

16.4%
16.1%

Industrials

9.2%
10.5%

Healthcare

8.6%
8.3%

Communication Services

8.6%
7.7%

Consumer Defensive

6.6%
4.7%

Consumer Cyclical

6.4%
8.5%

Energy

4.6%
3.5%

Real Estate

4.2%
1.6%

Utilities

3.1%
2.7%

Basic Materials

1.3%
3.5%

Technology

TQGD.TO
31.2%
ACWI
32.5%

Financial Services

TQGD.TO
16.4%
ACWI
16.1%

Industrials

TQGD.TO
9.2%
ACWI
10.5%

Healthcare

TQGD.TO
8.6%
ACWI
8.3%

Communication Services

TQGD.TO
8.6%
ACWI
7.7%

Consumer Defensive

TQGD.TO
6.6%
ACWI
4.7%

Consumer Cyclical

TQGD.TO
6.4%
ACWI
8.5%

Energy

TQGD.TO
4.6%
ACWI
3.5%

Real Estate

TQGD.TO
4.2%
ACWI
1.6%

Utilities

TQGD.TO
3.1%
ACWI
2.7%

Basic Materials

TQGD.TO
1.3%
ACWI
3.5%

Compare stocks, funds, or ETFs

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

TD Q Global Dividend ETF

iShares MSCI ACWI ETF

Often compared with TQGD.TO:
TQGD.TO vs. TQCD.TOTQGD.TO vs. TGED.TOTQGD.TO vs. TGFI.TOTQGD.TO vs. TGRO.TOTQGD.TO vs. TEQT.TOTQGD.TO vs. SCHDTQGD.TO vs. ZDI.TO
Often compared with ACWI:
ACWI vs. VTACWI vs. SPYACWI vs. VWRL.LACWI vs. ACWXACWI vs. VOOACWI vs. ACWI.LACWI vs. VTI

Return for Risk

TQGD.TO vs. ACWI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TQGD.TO
TQGD.TO Risk / Return Rank: 9292
Overall Rank
TQGD.TO Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
TQGD.TO Sortino Ratio Rank: 9393
Sortino Ratio Rank
TQGD.TO Omega Ratio Rank: 9292
Omega Ratio Rank
TQGD.TO Calmar Ratio Rank: 9191
Calmar Ratio Rank
TQGD.TO Martin Ratio Rank: 9292
Martin Ratio Rank
ACWI
ACWI Risk / Return Rank: 6363
Overall Rank
ACWI Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
ACWI Sortino Ratio Rank: 6262
Sortino Ratio Rank
ACWI Omega Ratio Rank: 6262
Omega Ratio Rank
ACWI Calmar Ratio Rank: 5858
Calmar Ratio Rank
ACWI Martin Ratio Rank: 6969
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.

TQGD.TO vs. ACWI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TD Q Global Dividend ETF (TQGD.TO) and iShares MSCI ACWI ETF (ACWI). 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.

TQGD.TOACWIDifference
Sharpe ratioReturn per unit of total volatility
2.59
1.94

+0.65

Sortino ratioReturn per unit of downside risk
3.69
2.71

+0.98

Omega ratioGain probability vs. loss probability

1.48

1.34

+0.14

Calmar ratioReturn relative to maximum drawdown

4.55

3.21

+1.34

Martin ratioReturn relative to average drawdown

17.46

12.64

+4.82

TQGD.TO vs. ACWI - Sharpe Ratio Comparison

The current TQGD.TO Sharpe Ratio is 2.59, which is higher than the ACWI Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of TQGD.TO and ACWI, 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

TQGD.TO vs. ACWI - Drawdown Comparison

The maximum TQGD.TO drawdown since its inception was -32.60%, smaller than the maximum ACWI drawdown of -42.88%. Use the drawdown chart below to compare losses from any high point for TQGD.TO and ACWI.

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Drawdown Indicators

TQGD.TOACWIDifference

Max Drawdown

Largest peak-to-trough decline

-32.60%

-42.88%

+10.28%

Max Drawdown (1Y)

Largest decline over 1 year

-6.05%

-8.48%

+2.43%

Max Drawdown (3Y)

Largest decline over 3 years

-15.51%

-16.63%

+1.12%

Max Drawdown (5Y)

Largest decline over 5 years

-15.51%

-21.72%

+6.21%

Max Drawdown (10Y)

Largest decline over 10 years

—

-27.80%

—

Current Drawdown

Current decline from peak

-1.21%

-1.57%

+0.36%

Average Drawdown

Average peak-to-trough decline

-4.88%

-7.01%

+2.13%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.57%

2.15%

-0.58%

Volatility

TQGD.TO vs. ACWI - Volatility Comparison

The current volatility for TD Q Global Dividend ETF (TQGD.TO) is 3.40%, while iShares MSCI ACWI ETF (ACWI) has a volatility of 4.90%. This indicates that TQGD.TO experiences smaller price fluctuations and is considered to be less risky than ACWI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TQGD.TOACWIDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.40%

4.90%

-1.50%

Volatility (6M)

Calculated over the trailing 6-month period

8.53%

11.93%

-3.40%

Volatility (1Y)

Calculated over the trailing 1-year period

10.65%

14.08%

-3.43%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.94%

17.21%

+0.73%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.54%

18.16%

+6.38%

TQGD.TO vs. ACWI - Expense Ratio Comparison

TQGD.TO has a 0.44% expense ratio, which is higher than ACWI's 0.32% expense ratio.

Dividends

TQGD.TO vs. ACWI - Dividend Comparison

TQGD.TO's dividend yield for the trailing twelve months is around 2.64%, more than ACWI's 1.44% yield.

PositionTTM20252024202320222021202020192018201720162015
ACWI
iShares MSCI ACWI ETF		1.44%1.55%1.70%1.88%1.79%1.71%1.43%2.33%2.18%1.94%2.19%2.56%
TQGD.TO
TD Q Global Dividend ETF		2.64%2.89%3.39%3.65%3.89%3.26%4.85%0.35%0.00%0.00%0.00%0.00%

Frequently Asked Questions

TQGD.TO and ACWI have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ACWI is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ACWI is cheaper with a 0.32% expense ratio, compared with 0.44% for TQGD.TO.

TQGD.TO is categorized as Global Equity Income, while ACWI is Global Equities. TQGD.TO tracks MSCI World Index (Total Return), while ACWI tracks MSCI All Country World Index. They also come from different issuers: TD and iShares. Their fees differ too: 0.44% for TQGD.TO and 0.32% for ACWI.

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