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VIU.TO vs. TQSM.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VIU.TO vs. TQSM.TO

Last updated Jun 4, 2026

VIU.TO (Vanguard FTSE Developed All Cap ex North America Index ETF) and TQSM.TO (TD Q U.S. Small-Mid-Cap Equity ETF) are both exchange-traded funds - VIU.TO is a International Equity fund tracking the FTSE Developed All Cap ex North America Index, while TQSM.TO is a Mid Cap Value Equities fund actively managed by TD. VIU.TO is passively managed, while TQSM.TO is actively managed. Over the past 5 years, VIU.TO returned 11.99%/yr vs 13.10%/yr for TQSM.TO. At a 0.45 correlation, their price movements are largely independent. VIU.TO charges 0.23%/yr vs 0.40%/yr for TQSM.TO.

Performance

VIU.TO vs. TQSM.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 TD Q U.S. Small-Mid-Cap Equity ETF (TQSM.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VIU.TO achieves a 16.73% return, which is significantly higher than TQSM.TO's 13.30% 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%

TQSM.TO

1D
0.18%
1M
4.65%
YTD
13.30%
6M
11.31%
1Y
22.10%
3Y*
16.96%
5Y*
13.10%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)2025202420232022202120202019
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%1.40%
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%

Correlation

The correlation between VIU.TO and TQSM.TO is 0.63, 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

0.63

Correlation (3Y)
Calculated over the trailing 3-year period

0.59

Correlation (5Y)
Calculated over the trailing 5-year period

0.51

Correlation (All Time)
Calculated using the full available price history since Dec 2, 2019

0.45

The correlation between VIU.TO and TQSM.TO shifts across timeframes, from 0.45 (all time) to 0.63 (1 year), reflecting how their relationship changes across market environments.

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

Sectors
VIU.TO
TQSM.TO

Financial Services

25.6%
21.5%

Technology

18.4%
14.0%

Industrials

17.1%
20.1%

Healthcare

10.7%
7.3%

Consumer Defensive

6.1%
7.1%

Consumer Cyclical

6.0%
14.0%

Basic Materials

4.7%
4.5%

Energy

4.1%
6.3%

Communication Services

3.1%
1.8%

Utilities

2.9%
0.4%

Real Estate

0.6%
3.1%

Financial Services

VIU.TO
25.6%
TQSM.TO
21.5%

Technology

VIU.TO
18.4%
TQSM.TO
14.0%

Industrials

VIU.TO
17.1%
TQSM.TO
20.1%

Healthcare

VIU.TO
10.7%
TQSM.TO
7.3%

Consumer Defensive

VIU.TO
6.1%
TQSM.TO
7.1%

Consumer Cyclical

VIU.TO
6.0%
TQSM.TO
14.0%

Basic Materials

VIU.TO
4.7%
TQSM.TO
4.5%

Energy

VIU.TO
4.1%
TQSM.TO
6.3%

Communication Services

VIU.TO
3.1%
TQSM.TO
1.8%

Utilities

VIU.TO
2.9%
TQSM.TO
0.4%

Real Estate

VIU.TO
0.6%
TQSM.TO
3.1%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard FTSE Developed All Cap ex North America Index ETF

TD Q U.S. Small-Mid-Cap Equity ETF

Often compared with VIU.TO:
VIU.TO vs. XEF.TOVIU.TO vs. VIDY.TOVIU.TO vs. VCN.TOVIU.TO vs. VDU.TOVIU.TO vs. VFV.TOVIU.TO vs. XEQT.TOVIU.TO vs. VEQT.TO
Often compared with TQSM.TO:
TQSM.TO vs. ZSML.TOTQSM.TO vs. IWMTQSM.TO vs. XUU-U.TOTQSM.TO vs. ZEA.TOTQSM.TO vs. XSU.TOTQSM.TO vs. TPE.TOTQSM.TO vs. TSCSX

Return for Risk

VIU.TO vs. TQSM.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: 6262
Overall Rank
VIU.TO Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
VIU.TO Sortino Ratio Rank: 6363
Sortino Ratio Rank
VIU.TO Omega Ratio Rank: 6666
Omega Ratio Rank
VIU.TO Calmar Ratio Rank: 5656
Calmar Ratio Rank
VIU.TO Martin Ratio Rank: 6262
Martin Ratio Rank
TQSM.TO
TQSM.TO Risk / Return Rank: 4747
Overall Rank
TQSM.TO Sharpe Ratio Rank: 4242
Sharpe Ratio Rank
TQSM.TO Sortino Ratio Rank: 4444
Sortino Ratio Rank
TQSM.TO Omega Ratio Rank: 4141
Omega Ratio Rank
TQSM.TO Calmar Ratio Rank: 5555
Calmar Ratio Rank
TQSM.TO Martin Ratio Rank: 5151
Martin Ratio Rank
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. TQSM.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 TD Q U.S. Small-Mid-Cap Equity ETF (TQSM.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.TOTQSM.TODifference
Sharpe ratioReturn per unit of total volatility
2.17
1.48

+0.69

Sortino ratioReturn per unit of downside risk
3.01
2.21

+0.80

Omega ratioGain probability vs. loss probability

1.41

1.26

+0.14

Calmar ratioReturn relative to maximum drawdown

2.83

2.72

+0.11

Martin ratioReturn relative to average drawdown

11.39

8.50

+2.89

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. TQSM.TO - Sharpe Ratio Comparison

The current VIU.TO Sharpe Ratio is 2.17, which is higher than the TQSM.TO Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of VIU.TO and TQSM.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.

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Sharpe Ratios by Period

VIU.TOTQSM.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.17

1.48

+0.69

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.87

0.82

+0.04

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

0.62

0.00

Drawdowns

VIU.TO vs. TQSM.TO - Drawdown Comparison

The maximum VIU.TO drawdown since its inception was -29.15%, smaller than the maximum TQSM.TO drawdown of -33.03%. Use the drawdown chart below to compare losses from any high point for VIU.TO and TQSM.TO.

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Drawdown Indicators

VIU.TOTQSM.TODifference

Max Drawdown

Largest peak-to-trough decline

-29.15%

-33.03%

+3.88%

Max Drawdown (1Y)

Largest decline over 1 year

-11.74%

-8.17%

-3.57%

Max Drawdown (3Y)

Largest decline over 3 years

-14.26%

-23.78%

+9.52%

Max Drawdown (5Y)

Largest decline over 5 years

-25.35%

-23.78%

-1.57%

Max Drawdown (10Y)

Largest decline over 10 years

-29.15%

—

—

Current Drawdown

Current decline from peak

-0.44%

0.00%

-0.44%

Average Drawdown

Average peak-to-trough decline

-5.34%

-5.51%

+0.17%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.91%

2.61%

+0.30%

Volatility

VIU.TO vs. TQSM.TO - Volatility Comparison

Vanguard FTSE Developed All Cap ex North America Index ETF (VIU.TO) has a higher volatility of 5.83% compared to TD Q U.S. Small-Mid-Cap Equity ETF (TQSM.TO) at 4.22%. This indicates that VIU.TO's price experiences larger fluctuations and is considered to be riskier than TQSM.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VIU.TOTQSM.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.83%

4.22%

+1.61%

Volatility (6M)

Calculated over the trailing 6-month period

13.08%

10.53%

+2.55%

Volatility (1Y)

Calculated over the trailing 1-year period

15.31%

15.04%

+0.27%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.90%

15.97%

-2.07%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.12%

18.17%

-3.05%

VIU.TO vs. TQSM.TO - Expense Ratio Comparison

VIU.TO has a 0.23% expense ratio, which is lower than TQSM.TO's 0.40% expense ratio.

Dividends

VIU.TO vs. TQSM.TO - Dividend Comparison

VIU.TO's dividend yield for the trailing twelve months is around 2.16%, more than TQSM.TO's 0.78% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
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

VIU.TO and TQSM.TO have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VIU.TO is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VIU.TO is cheaper with a 0.23% expense ratio, compared with 0.40% for TQSM.TO.

VIU.TO is categorized as International Equity, while TQSM.TO is Mid Cap Value Equities. They also come from different issuers: Vanguard and TD. Their fees differ too: 0.23% for VIU.TO and 0.40% for TQSM.TO.

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