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

TQGD.TO vs. MDIV

Last updated Jun 4, 2026

TQGD.TO (TD Q Global Dividend ETF) and MDIV (First Trust Multi-Asset Diversified Income Index Fund) are both exchange-traded funds - TQGD.TO is a Global Equity Income fund tracking the MSCI World Index (Total Return), while MDIV is a Diversified Portfolio fund tracking the NASDAQ US Multi-Asset Diversified Income Index. Both are passively managed. Over the past 5 years, TQGD.TO returned 14.85%/yr vs 8.67%/yr for MDIV. At a 0.48 correlation, their price movements are largely independent. TQGD.TO charges 0.44%/yr vs 0.73%/yr for MDIV.

Performance

TQGD.TO vs. MDIV - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in TD Q Global Dividend ETF (TQGD.TO) and First Trust Multi-Asset Diversified Income Index Fund (MDIV). 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 MDIV is traded in USD. To make them comparable, the MDIV 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 13.16% return, which is significantly higher than MDIV's 9.05% return.

TQGD.TO

1D
-0.39%
1M
8.13%
YTD
13.16%
6M
12.52%
1Y
28.68%
3Y*
19.45%
5Y*
14.85%
10Y*
—

MDIV

1D
-0.25%
1M
2.09%
YTD
9.05%
6M
6.97%
1Y
12.47%
3Y*
12.70%
5Y*
8.67%
10Y*
5.42%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TQGD.TO vs. MDIV - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
TQGD.TO
TD Q Global Dividend ETF		13.16%16.45%17.65%15.06%1.03%21.14%-5.84%0.62%
MDIV
First Trust Multi-Asset Diversified Income Index Fund		9.05%-0.99%19.50%9.04%3.00%15.45%-16.28%0.79%

Correlation

The correlation between TQGD.TO and MDIV is 0.52, 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

0.52

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

0.51

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

0.51

Correlation (All Time)
Calculated using the full available price history since Nov 27, 2019

0.48

The correlation between TQGD.TO and MDIV has been stable across timeframes, ranging from 0.48 to 0.52 - a consistent structural relationship.

TQGD.TO vs. MDIV - Sectors Allocation Comparison

Sectors
TQGD.TO
MDIV

Technology

28.1%

-

Financial Services

17.1%
22.4%

Industrials

9.6%
1.6%

Communication Services

9.1%
3.2%

Healthcare

8.9%
1.6%

Consumer Defensive

7.1%
8.0%

Consumer Cyclical

5.9%
3.2%

Energy

5.1%
17.6%

Real Estate

4.4%
21.6%

Utilities

3.3%
9.6%

Basic Materials

1.4%
0.7%

Technology

TQGD.TO
28.1%
MDIV

-

Financial Services

TQGD.TO
17.1%
MDIV
22.4%

Industrials

TQGD.TO
9.6%
MDIV
1.6%

Communication Services

TQGD.TO
9.1%
MDIV
3.2%

Healthcare

TQGD.TO
8.9%
MDIV
1.6%

Consumer Defensive

TQGD.TO
7.1%
MDIV
8.0%

Consumer Cyclical

TQGD.TO
5.9%
MDIV
3.2%

Energy

TQGD.TO
5.1%
MDIV
17.6%

Real Estate

TQGD.TO
4.4%
MDIV
21.6%

Utilities

TQGD.TO
3.3%
MDIV
9.6%

Basic Materials

TQGD.TO
1.4%
MDIV
0.7%

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

First Trust Multi-Asset Diversified Income Index Fund

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. ZDI.TOTQGD.TO vs. SCHD
Often compared with MDIV:
MDIV vs. HNDLMDIV vs. IYLDMDIV vs. GAAMDIV vs. HYINMDIV vs. PCEFMDIV vs. AOAMDIV vs. AOR

Return for Risk

TQGD.TO vs. MDIV — 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: 8585
Overall Rank
TQGD.TO Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
TQGD.TO Sortino Ratio Rank: 8585
Sortino Ratio Rank
TQGD.TO Omega Ratio Rank: 8383
Omega Ratio Rank
TQGD.TO Calmar Ratio Rank: 8585
Calmar Ratio Rank
TQGD.TO Martin Ratio Rank: 8787
Martin Ratio Rank
MDIV
MDIV Risk / Return Rank: 5252
Overall Rank
MDIV Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
MDIV Sortino Ratio Rank: 4949
Sortino Ratio Rank
MDIV Omega Ratio Rank: 4545
Omega Ratio Rank
MDIV Calmar Ratio Rank: 6565
Calmar Ratio Rank
MDIV Martin Ratio Rank: 5353
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. MDIV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TD Q Global Dividend ETF (TQGD.TO) and First Trust Multi-Asset Diversified Income Index Fund (MDIV). 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.

TQGD.TOMDIVDifference
Sharpe ratioReturn per unit of total volatility
2.76
1.73

+1.03

Sortino ratioReturn per unit of downside risk
3.84
2.42

+1.42

Omega ratioGain probability vs. loss probability

1.50

1.31

+0.19

Calmar ratioReturn relative to maximum drawdown

4.76

4.20

+0.56

Martin ratioReturn relative to average drawdown

18.55

11.77

+6.78

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TQGD.TO vs. MDIV - Sharpe Ratio Comparison

The current TQGD.TO Sharpe Ratio is 2.76, which is higher than the MDIV Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of TQGD.TO and MDIV, 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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Sharpe Ratios by Period

TQGD.TOMDIVDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.76

1.73

+1.03

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.24

0.92

+0.31

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.40

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.81

0.59

+0.22

Drawdowns

TQGD.TO vs. MDIV - Drawdown Comparison

The maximum TQGD.TO drawdown since its inception was -30.22%, smaller than the maximum MDIV drawdown of -42.71%. Use the drawdown chart below to compare losses from any high point for TQGD.TO and MDIV.

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Drawdown Indicators

TQGD.TOMDIVDifference

Max Drawdown

Largest peak-to-trough decline

-30.22%

-42.71%

+12.49%

Max Drawdown (1Y)

Largest decline over 1 year

-6.05%

-2.98%

-3.07%

Max Drawdown (3Y)

Largest decline over 3 years

-15.52%

-11.08%

-4.44%

Max Drawdown (5Y)

Largest decline over 5 years

-15.52%

-11.45%

-4.07%

Max Drawdown (10Y)

Largest decline over 10 years

—

-42.71%

—

Current Drawdown

Current decline from peak

-0.70%

-0.55%

-0.15%

Average Drawdown

Average peak-to-trough decline

-3.88%

-4.54%

+0.66%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.55%

1.06%

+0.49%

Volatility

TQGD.TO vs. MDIV - Volatility Comparison

TD Q Global Dividend ETF (TQGD.TO) has a higher volatility of 4.03% compared to First Trust Multi-Asset Diversified Income Index Fund (MDIV) at 1.82%. This indicates that TQGD.TO's price experiences larger fluctuations and is considered to be riskier than MDIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TQGD.TOMDIVDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.03%

1.82%

+2.21%

Volatility (6M)

Calculated over the trailing 6-month period

7.74%

5.28%

+2.46%

Volatility (1Y)

Calculated over the trailing 1-year period

10.44%

7.22%

+3.22%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.08%

9.42%

+2.66%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.68%

13.59%

+1.09%

TQGD.TO vs. MDIV - Expense Ratio Comparison

TQGD.TO has a 0.44% expense ratio, which is lower than MDIV's 0.73% expense ratio.

Dividends

TQGD.TO vs. MDIV - Dividend Comparison

TQGD.TO's dividend yield for the trailing twelve months is around 2.69%, less than MDIV's 6.39% yield.

PositionTTM20252024202320222021202020192018201720162015
MDIV
First Trust Multi-Asset Diversified Income Index Fund		6.39%6.51%6.40%6.08%6.71%5.30%6.00%5.90%6.76%6.04%6.35%7.38%
TQGD.TO
TD Q Global Dividend ETF		2.69%2.89%3.38%3.65%3.89%3.40%4.85%0.36%0.00%0.00%0.00%0.00%

Frequently Asked Questions

TQGD.TO and MDIV have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, TQGD.TO is cheaper at 0.44% per year. The better choice depends on whether you care most about return, fees, risk, or income.

TQGD.TO is cheaper with a 0.44% expense ratio, compared with 0.73% for MDIV.

TQGD.TO is categorized as Global Equity Income, while MDIV is Diversified Portfolio. TQGD.TO tracks MSCI World Index (Total Return), while MDIV tracks NASDAQ US Multi-Asset Diversified Income Index. They also come from different issuers: TD and First Trust. Their fees differ too: 0.44% for TQGD.TO and 0.73% for MDIV.

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