VIU.TO vs. QDXH.TO

Last updated Jun 4, 2026

VIU.TO (Vanguard FTSE Developed All Cap ex North America Index ETF) and QDXH.TO (Mackenzie International Equity Index ETF (CAD-Hedged)) are both International Equity funds - VIU.TO tracks the FTSE Developed All Cap ex North America Index while QDXH.TO tracks the Solactive GBS Developed Markets ex North America Large & Mid Cap Hedged to CAD Index. Both are passively managed. Over the past 5 years, VIU.TO returned 11.99%/yr vs 13.31%/yr for QDXH.TO. At a 0.23 correlation, their price movements are largely independent.

Performance

VIU.TO vs. QDXH.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard FTSE Developed All Cap ex North America Index ETF (VIU.TO) and Mackenzie International Equity Index ETF (CAD-Hedged) (QDXH.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VIU.TO achieves a 16.73% return, which is significantly higher than QDXH.TO's 9.05% return.

VIU.TO

• 1D: -0.44%
• 1M: 7.93%
• YTD: 16.73%
• 6M: 17.50%
• 1Y: 33.05%
• 3Y*: 20.38%
• 5Y*: 11.99%
• 10Y*: 10.41%

QDXH.TO

• 1D: -0.13%
• 1M: 3.10%
• YTD: 9.05%
• 6M: 11.59%
• 1Y: 23.27%
• 3Y*: 17.30%
• 5Y*: 13.31%
• 10Y*: —

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

VIU.TO vs. QDXH.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
VIU.TO Vanguard FTSE Developed All Cap ex North America Index ETF	16.73%	27.83%	10.72%	15.66%	-10.63%	9.74%	7.56%	15.30%	-10.85%
QDXH.TO Mackenzie International Equity Index ETF (CAD-Hedged)	9.05%	22.00%	13.25%	14.25%	-2.55%	20.52%	-0.42%	20.43%	-12.11%

Correlation

The correlation between VIU.TO and QDXH.TO is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (All Time) Calculated using the full available price history since Jan 30, 2018	0.23

The correlation between VIU.TO and QDXH.TO shifts across timeframes, from 0.23 (all time) to 0.38 (1 year), reflecting how their relationship changes across market environments.

VIU.TO vs. QDXH.TO - Sectors Allocation Comparison

Sectors	VIU.TO	QDXH.TO
Financial Services	25.6%	24.2%
Technology	18.4%	10.1%
Industrials	17.1%	19.7%
Healthcare	10.7%	10.5%
Consumer Defensive	6.1%	6.6%
Consumer Cyclical	6.0%	8.1%
Basic Materials	4.7%	6.2%
Energy	4.1%	3.9%
Communication Services	3.1%	4.5%
Utilities	2.9%	3.8%
Real Estate	0.6%	2.2%

Return for Risk

VIU.TO vs. QDXH.TO — Risk / Return Rank

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

VIU.TO

VIU.TO Risk / Return Rank: 62
VIU.TO Sharpe Ratio Rank: 63
VIU.TO Sortino Ratio Rank: 63
VIU.TO Omega Ratio Rank: 66
VIU.TO Calmar Ratio Rank: 56
VIU.TO Martin Ratio Rank: 62

QDXH.TO

QDXH.TO Risk / Return Rank: 67
QDXH.TO Sharpe Ratio Rank: 63
QDXH.TO Sortino Ratio Rank: 75
QDXH.TO Omega Ratio Rank: 93
QDXH.TO Calmar Ratio Rank: 49
QDXH.TO Martin Ratio Rank: 56

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.

VIU.TO vs. QDXH.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed All Cap ex North America Index ETF (VIU.TO) and Mackenzie International Equity Index ETF (CAD-Hedged) (QDXH.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.

	VIU.TO	QDXH.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.17	2.06	+0.11
Sortino ratio: Return per unit of downside risk	3.01	3.34	-0.33
Omega ratio: Gain probability vs. loss probability	1.41	1.63	-0.23
Calmar ratio: Return relative to maximum drawdown	2.83	2.39	+0.44
Martin ratio: Return relative to average drawdown	11.39	9.56	+1.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VIU.TO vs. QDXH.TO - Sharpe Ratio Comparison

The current VIU.TO Sharpe Ratio is 2.17, which is comparable to the QDXH.TO Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of VIU.TO and QDXH.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

	VIU.TO	QDXH.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.17	2.06	+0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.87	1.05	-0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.63	0.00

Drawdowns

VIU.TO vs. QDXH.TO - Drawdown Comparison

The maximum VIU.TO drawdown since its inception was -29.15%, smaller than the maximum QDXH.TO drawdown of -31.75%. Use the drawdown chart below to compare losses from any high point for VIU.TO and QDXH.TO.

Drawdown Indicators

	VIU.TO	QDXH.TO	Difference
Max Drawdown Largest peak-to-trough decline	-29.15%	-31.75%	+2.60%
Max Drawdown (1Y) Largest decline over 1 year	-11.74%	-9.78%	-1.96%
Max Drawdown (3Y) Largest decline over 3 years	-14.26%	-13.49%	-0.77%
Max Drawdown (5Y) Largest decline over 5 years	-25.35%	-15.79%	-9.56%
Max Drawdown (10Y) Largest decline over 10 years	-29.15%	—	—
Current Drawdown Current decline from peak	-0.44%	-0.24%	-0.20%
Average Drawdown Average peak-to-trough decline	-5.34%	-3.88%	-1.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.91%	2.44%	+0.47%

Volatility

VIU.TO vs. QDXH.TO - Volatility Comparison

Vanguard FTSE Developed All Cap ex North America Index ETF (VIU.TO) has a higher volatility of 5.83% compared to Mackenzie International Equity Index ETF (CAD-Hedged) (QDXH.TO) at 2.28%. This indicates that VIU.TO's price experiences larger fluctuations and is considered to be riskier than QDXH.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VIU.TO	QDXH.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.83%	2.28%	+3.55%
Volatility (6M) Calculated over the trailing 6-month period	13.08%	9.43%	+3.65%
Volatility (1Y) Calculated over the trailing 1-year period	15.31%	11.36%	+3.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.90%	12.78%	+1.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.12%	15.23%	-0.11%

Dividends

VIU.TO vs. QDXH.TO - Dividend Comparison

VIU.TO's dividend yield for the trailing twelve months is around 2.16%, less than QDXH.TO's 2.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QDXH.TO Mackenzie International Equity Index ETF (CAD-Hedged)	2.55%	2.41%	2.64%	2.76%	2.92%	2.28%	1.96%	2.65%	3.13%	0.00%	0.00%	0.00%
VIU.TO Vanguard FTSE Developed All Cap ex North America Index ETF	2.16%	2.48%	2.55%	2.65%	2.75%	2.37%	1.97%	2.67%	2.75%	2.12%	1.71%	0.27%

Frequently Asked Questions

Can I hold both VIU.TO and QDXH.TO in my portfolio?

VIU.TO and QDXH.TO have a correlation of 0.38, 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 VIU.TO and QDXH.TO?

VIU.TO tracks FTSE Developed All Cap ex North America Index, while QDXH.TO tracks Solactive GBS Developed Markets ex North America Large & Mid Cap Hedged to CAD Index. They also come from different issuers: Vanguard and Mackenzie.