TQSM.TO vs. TSCSX

Last updated Jun 4, 2026

TQSM.TO (TD Q U.S. Small-Mid-Cap Equity ETF) and TSCSX (Thrivent Small Cap Stock Fund Class S) are both funds - TQSM.TO is a Mid Cap Value Equities fund actively managed by TD, while TSCSX is a Small Cap Blend Equities fund managed by Thrivent. Over the past 5 years, TQSM.TO returned 13.10%/yr vs 9.01%/yr for TSCSX. A 0.66 correlation means they provide meaningful diversification when combined. TQSM.TO charges 0.40%/yr vs 0.80%/yr for TSCSX.

Performance

TQSM.TO vs. TSCSX - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in TD Q U.S. Small-Mid-Cap Equity ETF (TQSM.TO) and Thrivent Small Cap Stock Fund Class S (TSCSX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

The year-to-date returns for both investments are quite close, with TQSM.TO having a 13.30% return and TSCSX slightly higher at 13.96%.

TQSM.TO

• 1D: 0.18%
• 1M: 4.65%
• YTD: 13.30%
• 6M: 11.31%
• 1Y: 22.10%
• 3Y*: 16.96%
• 5Y*: 13.10%
• 10Y*: —

TSCSX

• 1D: 1.54%
• 1M: 6.39%
• YTD: 13.96%
• 6M: 10.89%
• 1Y: 25.96%
• 3Y*: 14.27%
• 5Y*: 9.01%
• 10Y*: 13.39%

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

TQSM.TO vs. TSCSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
TQSM.TO TD Q U.S. Small-Mid-Cap Equity ETF	13.30%	1.20%	20.45%	18.86%	0.22%	25.08%	-2.24%	-0.73%
TSCSX Thrivent Small Cap Stock Fund Class S	13.96%	-2.33%	22.41%	9.99%	-4.59%	23.09%	20.80%	0.04%

Correlation

The correlation between TQSM.TO and TSCSX is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (All Time) Calculated using the full available price history since Dec 2, 2019	0.66

Over the past year, TQSM.TO and TSCSX have become more correlated (0.86) than their long-term average of 0.66, meaning their price movements have been converging.

Return for Risk

TQSM.TO vs. TSCSX — Risk / Return Rank

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

TQSM.TO

TQSM.TO Risk / Return Rank: 47
TQSM.TO Sharpe Ratio Rank: 42
TQSM.TO Sortino Ratio Rank: 44
TQSM.TO Omega Ratio Rank: 41
TQSM.TO Calmar Ratio Rank: 55
TQSM.TO Martin Ratio Rank: 51

TSCSX

TSCSX Risk / Return Rank: 32
TSCSX Sharpe Ratio Rank: 30
TSCSX Sortino Ratio Rank: 31
TSCSX Omega Ratio Rank: 27
TSCSX Calmar Ratio Rank: 38
TSCSX Martin Ratio Rank: 35

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.

TQSM.TO vs. TSCSX - 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 Thrivent Small Cap Stock Fund Class S (TSCSX). 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	TSCSX	Difference
Sharpe ratio: Return per unit of total volatility	1.48	1.65	-0.17
Sortino ratio: Return per unit of downside risk	2.21	2.41	-0.20
Omega ratio: Gain probability vs. loss probability	1.26	1.28	-0.02
Calmar ratio: Return relative to maximum drawdown	2.72	2.39	+0.33
Martin ratio: Return relative to average drawdown	8.50	8.31	+0.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TQSM.TO vs. TSCSX - Sharpe Ratio Comparison

The current TQSM.TO Sharpe Ratio is 1.48, which is comparable to the TSCSX Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of TQSM.TO and TSCSX, 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

	TQSM.TO	TSCSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.48	1.65	-0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.82	0.46	+0.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.66	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.76	-0.14

Drawdowns

TQSM.TO vs. TSCSX - Drawdown Comparison

The maximum TQSM.TO drawdown since its inception was -33.03%, smaller than the maximum TSCSX drawdown of -35.43%. Use the drawdown chart below to compare losses from any high point for TQSM.TO and TSCSX.

Drawdown Indicators

	TQSM.TO	TSCSX	Difference
Max Drawdown Largest peak-to-trough decline	-33.03%	-35.43%	+2.40%
Max Drawdown (1Y) Largest decline over 1 year	-8.17%	-11.79%	+3.62%
Max Drawdown (3Y) Largest decline over 3 years	-23.78%	-25.68%	+1.90%
Max Drawdown (5Y) Largest decline over 5 years	-23.78%	-25.68%	+1.90%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.43%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.51%	-5.88%	+0.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.61%	3.38%	-0.77%

Volatility

TQSM.TO vs. TSCSX - Volatility Comparison

The current volatility for TD Q U.S. Small-Mid-Cap Equity ETF (TQSM.TO) is 4.22%, while Thrivent Small Cap Stock Fund Class S (TSCSX) has a volatility of 4.54%. This indicates that TQSM.TO experiences smaller price fluctuations and is considered to be less risky than TSCSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TQSM.TO	TSCSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.22%	4.54%	-0.32%
Volatility (6M) Calculated over the trailing 6-month period	10.53%	12.48%	-1.95%
Volatility (1Y) Calculated over the trailing 1-year period	15.04%	17.03%	-1.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.97%	19.76%	-3.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.17%	20.30%	-2.13%

TQSM.TO vs. TSCSX - Expense Ratio Comparison

TQSM.TO has a 0.40% expense ratio, which is lower than TSCSX's 0.80% expense ratio.

Dividends

TQSM.TO vs. TSCSX - Dividend Comparison

TQSM.TO's dividend yield for the trailing twelve months is around 0.78%, less than TSCSX's 2.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%	0.00%	0.00%	0.00%
TSCSX Thrivent Small Cap Stock Fund Class S	2.09%	2.36%	3.18%	0.46%	9.60%	11.33%	1.60%	8.72%	15.00%	6.68%	4.19%	8.34%

Frequently Asked Questions

Can I hold both TQSM.TO and TSCSX in my portfolio?

TQSM.TO and TSCSX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.