TULV.TO vs. ESGY.TO

Last updated Jul 18, 2026

TULV.TO (TD Q U.S. Low Volatility ETF) and ESGY.TO (BMO MSCI USA Selection Equity Index ETF) are both Large Cap Blend Equities funds. Over the past 5 years, TULV.TO returned 8.57%/yr vs 15.28%/yr for ESGY.TO. At a 0.20 correlation, their price movements are largely independent.

Performance

TULV.TO vs. ESGY.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in TD Q U.S. Low Volatility ETF (TULV.TO) and BMO MSCI USA Selection Equity Index ETF (ESGY.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TULV.TO achieves a 6.53% return, which is significantly lower than ESGY.TO's 11.92% return.

TULV.TO

• 1D: -0.75%
• 1M: 2.86%
• 6M: 3.67%
• YTD: 6.53%
• 1Y: 10.60%
• 3Y*: 11.25%
• 5Y*: 8.57%
• 10Y*: —

ESGY.TO

• 1D: -0.25%
• 1M: 0.99%
• 6M: 8.99%
• YTD: 11.92%
• 1Y: 23.62%
• 3Y*: 22.30%
• 5Y*: 15.28%
• 10Y*: —

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

TULV.TO vs. ESGY.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
TULV.TO TD Q U.S. Low Volatility ETF	6.53%	3.62%	23.74%	-3.31%	2.02%	23.84%	1.09%
ESGY.TO BMO MSCI USA Selection Equity Index ETF	11.92%	13.67%	33.83%	26.54%	-15.46%	30.67%	12.62%

Correlation

The correlation between TULV.TO and ESGY.TO is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.23
Correlation (All Time) Calculated using the full available price history since Jun 3, 2020	0.20

The correlation between TULV.TO and ESGY.TO shifts across timeframes, from 0.08 (1 year) to 0.23 (5 years), reflecting how their relationship changes across market environments.

TULV.TO vs. ESGY.TO - Sectors Allocation Comparison

Sectors	TULV.TO	ESGY.TO
Consumer Defensive	24.9%	4.0%
Healthcare	20.2%	9.7%
Utilities	17.0%	1.0%
Financial Services	12.6%	10.0%
Communication Services	11.4%	13.7%
Technology	9.8%	39.6%
Industrials	3.4%	7.7%
Consumer Cyclical	0.6%	8.5%
Real Estate	0.1%	2.1%
Basic Materials	-	2.0%
Energy	-	1.9%

Return for Risk

TULV.TO vs. ESGY.TO — Risk / Return Rank

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

TULV.TO

TULV.TO Risk / Return Rank: 34
TULV.TO Sharpe Ratio Rank: 33
TULV.TO Sortino Ratio Rank: 33
TULV.TO Omega Ratio Rank: 31
TULV.TO Calmar Ratio Rank: 40
TULV.TO Martin Ratio Rank: 32

ESGY.TO

ESGY.TO Risk / Return Rank: 77
ESGY.TO Sharpe Ratio Rank: 84
ESGY.TO Sortino Ratio Rank: 86
ESGY.TO Omega Ratio Rank: 83
ESGY.TO Calmar Ratio Rank: 66
ESGY.TO Martin Ratio Rank: 67

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.

TULV.TO vs. ESGY.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TD Q U.S. Low Volatility ETF (TULV.TO) and BMO MSCI USA Selection Equity Index ETF (ESGY.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	TULV.TO	ESGY.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.94	2.05	-1.11
Sortino ratio: Return per unit of downside risk	1.45	2.99	-1.54
Omega ratio: Gain probability vs. loss probability	1.17	1.37	-0.20
Calmar ratio: Return relative to maximum drawdown	1.62	2.47	-0.84
Martin ratio: Return relative to average drawdown	3.63	8.92	-5.29

TULV.TO vs. ESGY.TO - Sharpe Ratio Comparison

The current TULV.TO Sharpe Ratio is 0.94, which is lower than the ESGY.TO Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of TULV.TO and ESGY.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.

Drawdowns

TULV.TO vs. ESGY.TO - Drawdown Comparison

The maximum TULV.TO drawdown since its inception was -11.78%, smaller than the maximum ESGY.TO drawdown of -26.36%. Use the drawdown chart below to compare losses from any high point for TULV.TO and ESGY.TO.

Drawdown Indicators

	TULV.TO	ESGY.TO	Difference
Max Drawdown Largest peak-to-trough decline	-11.78%	-26.36%	+14.58%
Max Drawdown (1Y) Largest decline over 1 year	-6.56%	-10.62%	+4.06%
Max Drawdown (3Y) Largest decline over 3 years	-11.39%	-20.83%	+9.44%
Max Drawdown (5Y) Largest decline over 5 years	-11.78%	-22.89%	+11.11%
Current Drawdown Current decline from peak	-1.70%	-1.47%	-0.23%
Average Drawdown Average peak-to-trough decline	-3.59%	-5.25%	+1.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.93%	2.93%	0.00%

Volatility

TULV.TO vs. ESGY.TO - Volatility Comparison

TD Q U.S. Low Volatility ETF (TULV.TO) has a higher volatility of 4.89% compared to BMO MSCI USA Selection Equity Index ETF (ESGY.TO) at 2.85%. This indicates that TULV.TO's price experiences larger fluctuations and is considered to be riskier than ESGY.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TULV.TO	ESGY.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.89%	2.85%	+2.04%
Volatility (6M) Calculated over the trailing 6-month period	9.30%	9.94%	-0.64%
Volatility (1Y) Calculated over the trailing 1-year period	11.38%	12.80%	-1.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.03%	15.61%	-3.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.76%	16.82%	-5.06%

Dividends

TULV.TO vs. ESGY.TO - Dividend Comparison

TULV.TO's dividend yield for the trailing twelve months is around 1.74%, more than ESGY.TO's 0.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
ESGY.TO BMO MSCI USA Selection Equity Index ETF	0.62%	0.66%	0.79%	1.16%	1.34%	1.12%	1.44%
TULV.TO TD Q U.S. Low Volatility ETF	1.74%	1.80%	1.48%	1.96%	1.57%	1.37%	0.83%

Frequently Asked Questions

Can I hold both TULV.TO and ESGY.TO in my portfolio?

TULV.TO and ESGY.TO have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between TULV.TO and ESGY.TO?

They also come from different issuers: TD and BMO.