TUEX.TO vs. TBNK.TO

Last updated Jun 4, 2026

TUEX.TO (TD Active U.S. Enhanced Dividend CAD Hedged ETF) and TBNK.TO (TD Canadian Bank Dividend Index ETF) are both Dividend funds. TUEX.TO is actively managed, while TBNK.TO is passively managed. Over the past 3 years, TUEX.TO returned 23.47%/yr vs 32.24%/yr for TBNK.TO. At a 0.30 correlation, their price movements are largely independent. TUEX.TO charges 0.73%/yr vs 0.28%/yr for TBNK.TO.

Performance

TUEX.TO vs. TBNK.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in TD Active U.S. Enhanced Dividend CAD Hedged ETF (TUEX.TO) and TD Canadian Bank Dividend Index ETF (TBNK.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TUEX.TO achieves a 12.01% return, which is significantly lower than TBNK.TO's 19.17% return.

TUEX.TO

• 1D: 1.19%
• 1M: 3.75%
• YTD: 12.01%
• 6M: 11.81%
• 1Y: 25.69%
• 3Y*: 23.47%
• 5Y*: —
• 10Y*: —

TBNK.TO

• 1D: -0.37%
• 1M: 5.03%
• YTD: 19.17%
• 6M: 24.78%
• 1Y: 58.38%
• 3Y*: 32.24%
• 5Y*: —
• 10Y*: —

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

TUEX.TO vs. TBNK.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TUEX.TO TD Active U.S. Enhanced Dividend CAD Hedged ETF	12.01%	11.84%	21.95%	28.49%
TBNK.TO TD Canadian Bank Dividend Index ETF	19.17%	44.62%	20.33%	7.34%

Correlation

The correlation between TUEX.TO and TBNK.TO is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (All Time) Calculated using the full available price history since Apr 28, 2023	0.30

The correlation between TUEX.TO and TBNK.TO shifts across timeframes, from 0.30 (3 years) to 0.42 (1 year), reflecting how their relationship changes across market environments.

TUEX.TO vs. TBNK.TO - Sectors Allocation Comparison

Sectors	TUEX.TO	TBNK.TO
Technology	32.6%	-
Industrials	19.4%	-
Healthcare	12.2%	-
Communication Services	8.3%	-
Financial Services	6.7%	100.0%
Energy	6.1%	-
Real Estate	4.9%	-
Consumer Cyclical	4.3%	-
Basic Materials	3.3%	-
Consumer Defensive	2.3%	-
Utilities	0.3%	-

Return for Risk

TUEX.TO vs. TBNK.TO — Risk / Return Rank

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

TUEX.TO

TUEX.TO Risk / Return Rank: 50
TUEX.TO Sharpe Ratio Rank: 45
TUEX.TO Sortino Ratio Rank: 46
TUEX.TO Omega Ratio Rank: 57
TUEX.TO Calmar Ratio Rank: 52
TUEX.TO Martin Ratio Rank: 52

TBNK.TO

TBNK.TO Risk / Return Rank: 96
TBNK.TO Sharpe Ratio Rank: 97
TBNK.TO Sortino Ratio Rank: 97
TBNK.TO Omega Ratio Rank: 97
TBNK.TO Calmar Ratio Rank: 94
TBNK.TO Martin Ratio Rank: 95

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.

TUEX.TO vs. TBNK.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TD Active U.S. Enhanced Dividend CAD Hedged ETF (TUEX.TO) and TD Canadian Bank Dividend Index ETF (TBNK.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.

	TUEX.TO	TBNK.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.53	4.64	-3.11
Sortino ratio: Return per unit of downside risk	2.24	6.52	-4.28
Omega ratio: Gain probability vs. loss probability	1.34	1.86	-0.52
Calmar ratio: Return relative to maximum drawdown	2.51	7.11	-4.59
Martin ratio: Return relative to average drawdown	8.70	30.88	-22.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TUEX.TO vs. TBNK.TO - Sharpe Ratio Comparison

The current TUEX.TO Sharpe Ratio is 1.53, which is lower than the TBNK.TO Sharpe Ratio of 4.64. The chart below compares the historical Sharpe Ratios of TUEX.TO and TBNK.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

	TUEX.TO	TBNK.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.53	4.64	-3.11
Sharpe Ratio (All Time) Calculated using the full available price history	1.22	2.31	-1.09

Drawdowns

TUEX.TO vs. TBNK.TO - Drawdown Comparison

The maximum TUEX.TO drawdown since its inception was -21.95%, which is greater than TBNK.TO's maximum drawdown of -15.03%. Use the drawdown chart below to compare losses from any high point for TUEX.TO and TBNK.TO.

Drawdown Indicators

	TUEX.TO	TBNK.TO	Difference
Max Drawdown Largest peak-to-trough decline	-21.95%	-15.03%	-6.92%
Max Drawdown (1Y) Largest decline over 1 year	-10.26%	-8.25%	-2.01%
Max Drawdown (3Y) Largest decline over 3 years	-21.95%	-15.03%	-6.92%
Current Drawdown Current decline from peak	-1.75%	-2.59%	+0.84%
Average Drawdown Average peak-to-trough decline	-2.72%	-2.45%	-0.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.96%	1.90%	+1.06%

Volatility

TUEX.TO vs. TBNK.TO - Volatility Comparison

TD Active U.S. Enhanced Dividend CAD Hedged ETF (TUEX.TO) and TD Canadian Bank Dividend Index ETF (TBNK.TO) have volatilities of 5.10% and 4.91%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TUEX.TO	TBNK.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.10%	4.91%	+0.19%
Volatility (6M) Calculated over the trailing 6-month period	13.43%	11.28%	+2.15%
Volatility (1Y) Calculated over the trailing 1-year period	16.82%	12.63%	+4.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.90%	12.84%	+7.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.90%	12.84%	+7.06%

TUEX.TO vs. TBNK.TO - Expense Ratio Comparison

TUEX.TO has a 0.73% expense ratio, which is higher than TBNK.TO's 0.28% expense ratio.

Dividends

TUEX.TO vs. TBNK.TO - Dividend Comparison

TUEX.TO's dividend yield for the trailing twelve months is around 2.60%, more than TBNK.TO's 2.45% yield.

Position	TTM	2025	2024	2023
TBNK.TO TD Canadian Bank Dividend Index ETF	2.45%	2.89%	4.03%	3.10%
TUEX.TO TD Active U.S. Enhanced Dividend CAD Hedged ETF	2.60%	2.79%	2.36%	11.90%

Frequently Asked Questions

Can I hold both TUEX.TO and TBNK.TO in my portfolio?

TUEX.TO and TBNK.TO have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TUEX.TO or TBNK.TO?

On fees, TBNK.TO is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TUEX.TO or TBNK.TO?

TBNK.TO is cheaper with a 0.28% expense ratio, compared with 0.73% for TUEX.TO.

What is the main difference between TUEX.TO and TBNK.TO?

They also come from different issuers: TD Asset Management and TD. Their fees differ too: 0.73% for TUEX.TO and 0.28% for TBNK.TO.