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

TQGD.TO vs. XEI.TO

Last updated Jun 5, 2026

TQGD.TO (TD Q Global Dividend ETF) and XEI.TO (iShares S&P/TSX Composite High Dividend Index ETF) are both exchange-traded funds - TQGD.TO is a Global Equity Income fund tracking the MSCI World Index (Total Return), while XEI.TO is a Canada Equities fund tracking the S&P/TSX Composite High Dividend Index. Both are passively managed. Over the past 5 years, TQGD.TO returned 15.01%/yr vs 15.75%/yr for XEI.TO. A 0.51 correlation means they provide meaningful diversification when combined. TQGD.TO charges 0.44%/yr vs 0.22%/yr for XEI.TO.

Performance

TQGD.TO vs. XEI.TO - 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 S&P/TSX Composite High Dividend Index ETF (XEI.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, TQGD.TO achieves a 13.96% return, which is significantly lower than XEI.TO's 23.25% return.

TQGD.TO

1D
0.71%
1M
8.11%
YTD
13.96%
6M
13.44%
1Y
30.06%
3Y*
19.98%
5Y*
15.01%
10Y*
—

XEI.TO

1D
0.85%
1M
3.41%
YTD
23.25%
6M
23.82%
1Y
45.53%
3Y*
22.82%
5Y*
15.75%
10Y*
12.30%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TQGD.TO vs. XEI.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
TQGD.TO
TD Q Global Dividend ETF		13.96%16.45%17.65%15.06%1.03%21.14%-5.84%0.62%
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF		23.25%25.96%15.42%6.69%0.41%35.88%-7.53%1.63%

Correlation

The correlation between TQGD.TO and XEI.TO is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.36

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

0.52

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

0.53

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

0.51

The correlation between TQGD.TO and XEI.TO shifts across timeframes, from 0.36 (1 year) to 0.53 (5 years), reflecting how their relationship changes across market environments.

TQGD.TO vs. XEI.TO - Sectors Allocation Comparison

Sectors
TQGD.TO
XEI.TO

Technology

28.1%
0.7%

Financial Services

17.1%
31.4%

Industrials

9.6%
0.7%

Communication Services

9.1%
7.6%

Healthcare

8.9%
0.2%

Consumer Defensive

7.1%
0.5%

Consumer Cyclical

5.9%
6.2%

Energy

5.1%
32.1%

Real Estate

4.4%
4.8%

Utilities

3.3%
11.2%

Basic Materials

1.4%
4.6%

Technology

TQGD.TO
28.1%
XEI.TO
0.7%

Financial Services

TQGD.TO
17.1%
XEI.TO
31.4%

Industrials

TQGD.TO
9.6%
XEI.TO
0.7%

Communication Services

TQGD.TO
9.1%
XEI.TO
7.6%

Healthcare

TQGD.TO
8.9%
XEI.TO
0.2%

Consumer Defensive

TQGD.TO
7.1%
XEI.TO
0.5%

Consumer Cyclical

TQGD.TO
5.9%
XEI.TO
6.2%

Energy

TQGD.TO
5.1%
XEI.TO
32.1%

Real Estate

TQGD.TO
4.4%
XEI.TO
4.8%

Utilities

TQGD.TO
3.3%
XEI.TO
11.2%

Basic Materials

TQGD.TO
1.4%
XEI.TO
4.6%

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 S&P/TSX Composite High Dividend Index 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. ZDI.TOTQGD.TO vs. SCHD
Often compared with XEI.TO:
XEI.TO vs. VDY.TOXEI.TO vs. XDIV.TOXEI.TO vs. XEQT.TOXEI.TO vs. VFV.TOXEI.TO vs. ZDV.TOXEI.TO vs. CDZ.TOXEI.TO vs. XDV.TO

Return for Risk

TQGD.TO vs. XEI.TO — 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: 8888
Overall Rank
TQGD.TO Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
TQGD.TO Sortino Ratio Rank: 8989
Sortino Ratio Rank
TQGD.TO Omega Ratio Rank: 8787
Omega Ratio Rank
TQGD.TO Calmar Ratio Rank: 8787
Calmar Ratio Rank
TQGD.TO Martin Ratio Rank: 8989
Martin Ratio Rank
XEI.TO
XEI.TO Risk / Return Rank: 9898
Overall Rank
XEI.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
XEI.TO Sortino Ratio Rank: 9999
Sortino Ratio Rank
XEI.TO Omega Ratio Rank: 9898
Omega Ratio Rank
XEI.TO Calmar Ratio Rank: 9999
Calmar Ratio Rank
XEI.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.

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

This table presents a comparison of risk-adjusted performance metrics for TD Q Global Dividend ETF (TQGD.TO) and iShares S&P/TSX Composite High Dividend Index ETF (XEI.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.

TQGD.TOXEI.TODifference
Sharpe ratioReturn per unit of total volatility
2.90
6.34

-3.45

Sortino ratioReturn per unit of downside risk
4.01
9.47

-5.46

Omega ratioGain probability vs. loss probability

1.53

2.34

-0.81

Calmar ratioReturn relative to maximum drawdown

4.99

20.39

-15.40

Martin ratioReturn relative to average drawdown

19.45

69.23

-49.79

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. XEI.TO - Sharpe Ratio Comparison

The current TQGD.TO Sharpe Ratio is 2.90, which is lower than the XEI.TO Sharpe Ratio of 6.34. The chart below compares the historical Sharpe Ratios of TQGD.TO and XEI.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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Sharpe Ratios by Period

TQGD.TOXEI.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.90

6.34

-3.45

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.25

1.41

-0.16

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.77

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.82

0.67

+0.15

Drawdowns

TQGD.TO vs. XEI.TO - Drawdown Comparison

The maximum TQGD.TO drawdown since its inception was -30.22%, smaller than the maximum XEI.TO drawdown of -45.51%. Use the drawdown chart below to compare losses from any high point for TQGD.TO and XEI.TO.

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Drawdown Indicators

TQGD.TOXEI.TODifference

Max Drawdown

Largest peak-to-trough decline

-30.22%

-45.51%

+15.29%

Max Drawdown (1Y)

Largest decline over 1 year

-6.05%

-2.24%

-3.81%

Max Drawdown (3Y)

Largest decline over 3 years

-15.52%

-9.92%

-5.60%

Max Drawdown (5Y)

Largest decline over 5 years

-15.52%

-17.32%

+1.80%

Max Drawdown (10Y)

Largest decline over 10 years

—

-45.51%

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-3.88%

-5.05%

+1.17%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.55%

0.66%

+0.89%

Volatility

TQGD.TO vs. XEI.TO - Volatility Comparison

TD Q Global Dividend ETF (TQGD.TO) has a higher volatility of 4.03% compared to iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) at 2.89%. This indicates that TQGD.TO's price experiences larger fluctuations and is considered to be riskier than XEI.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TQGD.TOXEI.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.03%

2.89%

+1.14%

Volatility (6M)

Calculated over the trailing 6-month period

7.76%

6.03%

+1.73%

Volatility (1Y)

Calculated over the trailing 1-year period

10.44%

7.24%

+3.20%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.08%

11.24%

+0.84%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.68%

16.01%

-1.33%

TQGD.TO vs. XEI.TO - Expense Ratio Comparison

TQGD.TO has a 0.44% expense ratio, which is higher than XEI.TO's 0.22% expense ratio.

Dividends

TQGD.TO vs. XEI.TO - Dividend Comparison

TQGD.TO's dividend yield for the trailing twelve months is around 2.67%, less than XEI.TO's 3.53% yield.

PositionTTM20252024202320222021202020192018201720162015
TQGD.TO
TD Q Global Dividend ETF		2.67%2.89%3.38%3.65%3.89%3.40%4.85%0.36%0.00%0.00%0.00%0.00%
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF		3.53%4.39%5.56%5.08%4.78%3.65%5.13%4.71%5.53%4.37%4.51%5.75%

Frequently Asked Questions

TQGD.TO and XEI.TO have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XEI.TO is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XEI.TO is cheaper with a 0.22% expense ratio, compared with 0.44% for TQGD.TO.

TQGD.TO is categorized as Global Equity Income, while XEI.TO is Canada Equities. TQGD.TO tracks MSCI World Index (Total Return), while XEI.TO tracks S&P/TSX Composite High Dividend Index. They also come from different issuers: TD and iShares. Their fees differ too: 0.44% for TQGD.TO and 0.22% for XEI.TO.

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