TQGM.TO vs. TQGD.TO

Last updated Jun 5, 2026

TQGM.TO (TD Q Global Multifactor ETF) and TQGD.TO (TD Q Global Dividend ETF) are both exchange-traded funds - TQGM.TO is a Multi-factor fund actively managed by TD, while TQGD.TO is a Global Equity Income fund tracking the MSCI World Index (Total Return). TQGM.TO is actively managed, while TQGD.TO is passively managed. Over the past 5 years, TQGM.TO returned 13.72%/yr vs 15.01%/yr for TQGD.TO. At a 0.47 correlation, their price movements are largely independent. TQGM.TO charges 0.45%/yr vs 0.44%/yr for TQGD.TO.

Performance

TQGM.TO vs. TQGD.TO - Performance Comparison

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

Returns By Period

In the year-to-date period, TQGM.TO achieves a 13.20% return, which is significantly lower than TQGD.TO's 13.96% return.

TQGM.TO

• 1D: -0.37%
• 1M: 5.33%
• YTD: 13.20%
• 6M: 12.14%
• 1Y: 28.39%
• 3Y*: 21.38%
• 5Y*: 13.72%
• 10Y*: —

TQGD.TO

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

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
TQGM.TO TD Q Global Multifactor ETF	13.20%	20.97%	25.26%	8.13%	-4.74%	12.19%	0.64%	-0.87%
TQGD.TO TD Q Global Dividend ETF	13.96%	16.45%	17.65%	15.06%	1.03%	21.14%	-5.84%	0.62%

Correlation

The correlation between TQGM.TO and TQGD.TO is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (All Time) Calculated using the full available price history since Nov 27, 2019	0.47

Over the past year, TQGM.TO and TQGD.TO have become more correlated (0.76) than their long-term average of 0.47, meaning their price movements have been converging.

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

Sectors	TQGM.TO	TQGD.TO
Technology	20.3%	28.1%
Industrials	16.1%	9.6%
Consumer Cyclical	13.8%	5.9%
Financial Services	12.8%	17.1%
Communication Services	12.4%	9.1%
Consumer Defensive	10.9%	7.1%
Energy	7.0%	5.1%
Healthcare	3.3%	8.9%
Basic Materials	2.4%	1.4%
Utilities	1.1%	3.3%
Real Estate	0.1%	4.4%

Return for Risk

TQGM.TO vs. TQGD.TO — Risk / Return Rank

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

TQGM.TO

TQGM.TO Risk / Return Rank: 85
TQGM.TO Sharpe Ratio Rank: 83
TQGM.TO Sortino Ratio Rank: 87
TQGM.TO Omega Ratio Rank: 84
TQGM.TO Calmar Ratio Rank: 83
TQGM.TO Martin Ratio Rank: 86

TQGD.TO

TQGD.TO Risk / Return Rank: 88
TQGD.TO Sharpe Ratio Rank: 88
TQGD.TO Sortino Ratio Rank: 89
TQGD.TO Omega Ratio Rank: 87
TQGD.TO Calmar Ratio Rank: 87
TQGD.TO Martin Ratio Rank: 89

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.

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

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

	TQGM.TO	TQGD.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.67	2.90	-0.22
Sortino ratio: Return per unit of downside risk	3.89	4.01	-0.12
Omega ratio: Gain probability vs. loss probability	1.50	1.53	-0.03
Calmar ratio: Return relative to maximum drawdown	4.34	4.99	-0.65
Martin ratio: Return relative to average drawdown	17.84	19.45	-1.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TQGM.TO vs. TQGD.TO - Sharpe Ratio Comparison

The current TQGM.TO Sharpe Ratio is 2.67, which is comparable to the TQGD.TO Sharpe Ratio of 2.90. The chart below compares the historical Sharpe Ratios of TQGM.TO and TQGD.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.

Sharpe Ratios by Period

	TQGM.TO	TQGD.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.67	2.90	-0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.28	1.25	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	0.82	+0.09

Drawdowns

TQGM.TO vs. TQGD.TO - Drawdown Comparison

The maximum TQGM.TO drawdown since its inception was -24.34%, smaller than the maximum TQGD.TO drawdown of -30.22%. Use the drawdown chart below to compare losses from any high point for TQGM.TO and TQGD.TO.

Drawdown Indicators

	TQGM.TO	TQGD.TO	Difference
Max Drawdown Largest peak-to-trough decline	-24.34%	-30.22%	+5.88%
Max Drawdown (1Y) Largest decline over 1 year	-6.57%	-6.05%	-0.52%
Max Drawdown (3Y) Largest decline over 3 years	-10.38%	-15.52%	+5.14%
Max Drawdown (5Y) Largest decline over 5 years	-14.62%	-15.52%	+0.90%
Current Drawdown Current decline from peak	-0.37%	0.00%	-0.37%
Average Drawdown Average peak-to-trough decline	-3.47%	-3.88%	+0.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.60%	1.55%	+0.05%

Volatility

TQGM.TO vs. TQGD.TO - Volatility Comparison

The current volatility for TD Q Global Multifactor ETF (TQGM.TO) is 2.78%, while TD Q Global Dividend ETF (TQGD.TO) has a volatility of 4.03%. This indicates that TQGM.TO experiences smaller price fluctuations and is considered to be less risky than TQGD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TQGM.TO	TQGD.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.78%	4.03%	-1.25%
Volatility (6M) Calculated over the trailing 6-month period	8.30%	7.76%	+0.54%
Volatility (1Y) Calculated over the trailing 1-year period	10.67%	10.44%	+0.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.77%	12.08%	-1.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.40%	14.68%	-2.28%

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

TQGM.TO has a 0.45% expense ratio, which is higher than TQGD.TO's 0.44% expense ratio.

Dividends

TQGM.TO vs. TQGD.TO - Dividend Comparison

TQGM.TO's dividend yield for the trailing twelve months is around 1.21%, less than TQGD.TO's 2.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
TQGD.TO TD Q Global Dividend ETF	2.67%	2.89%	3.38%	3.65%	3.89%	3.40%	4.85%	0.36%
TQGM.TO TD Q Global Multifactor ETF	1.21%	1.36%	2.18%	2.67%	2.82%	2.40%	2.17%	0.00%

Frequently Asked Questions

Can I hold both TQGM.TO and TQGD.TO in my portfolio?

TQGM.TO and TQGD.TO have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TQGM.TO or TQGD.TO?

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.

Which ETF is cheaper, TQGM.TO or TQGD.TO?

TQGD.TO is cheaper with a 0.44% expense ratio, compared with 0.45% for TQGM.TO.

What is the main difference between TQGM.TO and TQGD.TO?

TQGM.TO is categorized as Multi-factor, while TQGD.TO is Global Equity Income. Their fees differ too: 0.45% for TQGM.TO and 0.44% for TQGD.TO.