TQSM.TO vs. TEQT.TO
TQSM.TO (TD Q U.S. Small-Mid-Cap Equity ETF) and TEQT.TO (TD All-Equity ETF Portfolio) are both exchange-traded funds - TQSM.TO is a Mid Cap Value Equities fund actively managed by TD, while TEQT.TO is a Global Equities fund tracking the 25% Solactive Canada Broad Market Index (C$, Net Total Return); 55% Solactive US Large Cap CAD Index (C$, Net Total Return); 20% Solactive GBS Developed Markets ex. North America Large & Mid Cap CAD Index (C$, Net Total Return). TQSM.TO is actively managed, while TEQT.TO is passively managed. Over the past year, TQSM.TO returned 22.10% vs 30.84% for TEQT.TO. A 0.75 correlation means they provide meaningful diversification when combined. TQSM.TO charges 0.40%/yr vs 0.17%/yr for TEQT.TO.
Performance
TQSM.TO vs. TEQT.TO - Performance Comparison
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Returns By Period
In the year-to-date period, TQSM.TO achieves a 13.30% return, which is significantly higher than TEQT.TO's 12.34% return.
TQSM.TO
- 1D
- 0.18%
- 1M
- 4.65%
- YTD
- 13.30%
- 6M
- 11.31%
- 1Y
- 22.10%
- 3Y*
- 16.96%
- 5Y*
- 13.10%
- 10Y*
- —
TEQT.TO
- 1D
- 0.67%
- 1M
- 5.89%
- YTD
- 12.34%
- 6M
- 11.77%
- 1Y
- 30.84%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TQSM.TO vs. TEQT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TQSM.TO TD Q U.S. Small-Mid-Cap Equity ETF | 13.30% | 16.52% |
TEQT.TO TD All-Equity ETF Portfolio | 12.34% | 27.04% |
Correlation
The correlation between TQSM.TO and TEQT.TO is 0.73, 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 | 0.73 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2025 | 0.75 |
The correlation between TQSM.TO and TEQT.TO has been stable across timeframes, ranging from 0.73 to 0.75 - a consistent structural relationship.
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Return for Risk
TQSM.TO vs. TEQT.TO — Risk / Return Rank
TQSM.TO
TEQT.TO
TQSM.TO vs. TEQT.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TD Q U.S. Small-Mid-Cap Equity ETF (TQSM.TO) and TD All-Equity ETF Portfolio (TEQT.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.
| TQSM.TO | TEQT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.31 | ||
| Sortino ratioReturn per unit of downside risk | -1.69 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.52 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 2.72 | 4.07 | -1.35 |
| Martin ratioReturn relative to average drawdown | 8.50 | 16.73 | -8.23 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TQSM.TO | TEQT.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.48 | 2.79 | -1.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.82 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.62 | 3.04 | -2.42 |
Drawdowns
TQSM.TO vs. TEQT.TO - Drawdown Comparison
The maximum TQSM.TO drawdown since its inception was -33.03%, which is greater than TEQT.TO's maximum drawdown of -7.62%. Use the drawdown chart below to compare losses from any high point for TQSM.TO and TEQT.TO.
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Drawdown Indicators
| TQSM.TO | TEQT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.03% | -7.62% | -25.41% |
Max Drawdown (1Y)Largest decline over 1 year | -8.17% | -7.62% | -0.55% |
Max Drawdown (3Y)Largest decline over 3 years | -23.78% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -23.78% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -5.51% | -1.00% | -4.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.61% | 1.85% | +0.76% |
Volatility
TQSM.TO vs. TEQT.TO - Volatility Comparison
TD Q U.S. Small-Mid-Cap Equity ETF (TQSM.TO) has a higher volatility of 4.22% compared to TD All-Equity ETF Portfolio (TEQT.TO) at 3.02%. This indicates that TQSM.TO's price experiences larger fluctuations and is considered to be riskier than TEQT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TQSM.TO | TEQT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.22% | 3.02% | +1.20% |
Volatility (6M)Calculated over the trailing 6-month period | 10.53% | 8.82% | +1.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.04% | 11.11% | +3.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.97% | 12.17% | +3.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.17% | 12.17% | +6.00% |
TQSM.TO vs. TEQT.TO - Expense Ratio Comparison
TQSM.TO has a 0.40% expense ratio, which is higher than TEQT.TO's 0.17% expense ratio.
Dividends
TQSM.TO vs. TEQT.TO - Dividend Comparison
TQSM.TO's dividend yield for the trailing twelve months is around 0.78%, less than TEQT.TO's 1.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
TEQT.TO TD All-Equity ETF Portfolio | 1.30% | 1.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TQSM.TO TD Q U.S. Small-Mid-Cap Equity ETF | 0.78% | 0.90% | 0.89% | 0.85% | 1.34% | 0.78% | 1.10% |
Frequently Asked Questions
TQSM.TO and TEQT.TO have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TEQT.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TEQT.TO is cheaper with a 0.17% expense ratio, compared with 0.40% for TQSM.TO.
TQSM.TO is categorized as Mid Cap Value Equities, while TEQT.TO is Global Equities. Their fees differ too: 0.40% for TQSM.TO and 0.17% for TEQT.TO.
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