XAW.TO vs. TEQT.TO
XAW.TO (iShares Core MSCI All Country World ex Canada Index ETF) and TEQT.TO (TD All-Equity ETF Portfolio) are both Global Equities funds - XAW.TO tracks the Morningstar Gbl GR CAD while TEQT.TO tracks the 25% Solactive Canada Broad Market Index (C$, Net Total Return); 55% Solactive US Large Cap CAD Index (C$, Net Total Return); 20% Solactive GBS Developed Markets ex. North America Large & Mid Cap CAD Index (C$, Net Total Return). Both are passively managed. Over the past year, XAW.TO returned 30.51% vs 29.82% for TEQT.TO. Their correlation of 0.92 suggests significant overlap in exposure. XAW.TO charges 0.22%/yr vs 0.17%/yr for TEQT.TO.
Performance
XAW.TO vs. TEQT.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XAW.TO achieves a 13.70% return, which is significantly higher than TEQT.TO's 11.59% return.
XAW.TO
- 1D
- -0.37%
- 1M
- 7.13%
- YTD
- 13.70%
- 6M
- 12.70%
- 1Y
- 30.51%
- 3Y*
- 21.73%
- 5Y*
- 13.96%
- 10Y*
- 13.22%
TEQT.TO
- 1D
- -0.45%
- 1M
- 5.99%
- YTD
- 11.59%
- 6M
- 11.36%
- 1Y
- 29.82%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XAW.TO vs. TEQT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
XAW.TO iShares Core MSCI All Country World ex Canada Index ETF | 13.70% | 24.85% |
TEQT.TO TD All-Equity ETF Portfolio | 11.59% | 27.04% |
Correlation
The correlation between XAW.TO and TEQT.TO is 0.93, 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 | 0.93 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2025 | 0.92 |
The correlation between XAW.TO and TEQT.TO has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.
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Return for Risk
XAW.TO vs. TEQT.TO — Risk / Return Rank
XAW.TO
TEQT.TO
XAW.TO vs. TEQT.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI All Country World ex Canada Index ETF (XAW.TO) and TD All-Equity ETF Portfolio (TEQT.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.
| XAW.TO | TEQT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.51 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.76 | 3.93 | -0.17 |
| Martin ratioReturn relative to average drawdown | 15.15 | 16.17 | -1.02 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XAW.TO | TEQT.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.50 | 2.70 | -0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.04 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.88 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.78 | 2.99 | -2.20 |
Drawdowns
XAW.TO vs. TEQT.TO - Drawdown Comparison
The maximum XAW.TO drawdown since its inception was -27.32%, which is greater than TEQT.TO's maximum drawdown of -7.62%. Use the drawdown chart below to compare losses from any high point for XAW.TO and TEQT.TO.
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Drawdown Indicators
| XAW.TO | TEQT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.32% | -7.62% | -19.70% |
Max Drawdown (1Y)Largest decline over 1 year | -8.16% | -7.62% | -0.54% |
Max Drawdown (3Y)Largest decline over 3 years | -16.66% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -21.02% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -27.32% | — | — |
Current DrawdownCurrent decline from peak | -0.37% | -0.45% | +0.08% |
Average DrawdownAverage peak-to-trough decline | -3.91% | -1.00% | -2.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.02% | 1.85% | +0.17% |
Volatility
XAW.TO vs. TEQT.TO - Volatility Comparison
iShares Core MSCI All Country World ex Canada Index ETF (XAW.TO) has a higher volatility of 4.21% compared to TD All-Equity ETF Portfolio (TEQT.TO) at 3.03%. This indicates that XAW.TO's price experiences larger fluctuations and is considered to be riskier than TEQT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XAW.TO | TEQT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.21% | 3.03% | +1.18% |
Volatility (6M)Calculated over the trailing 6-month period | 9.85% | 8.80% | +1.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.25% | 11.10% | +1.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.56% | 12.18% | +1.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.12% | 12.18% | +2.94% |
XAW.TO vs. TEQT.TO - Expense Ratio Comparison
XAW.TO has a 0.22% expense ratio, which is higher than TEQT.TO's 0.17% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
XAW.TO vs. TEQT.TO - Dividend Comparison
XAW.TO's dividend yield for the trailing twelve months is around 1.17%, less than TEQT.TO's 1.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TEQT.TO TD All-Equity ETF Portfolio | 1.31% | 1.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XAW.TO iShares Core MSCI All Country World ex Canada Index ETF | 1.17% | 1.33% | 1.61% | 1.71% | 1.79% | 1.77% | 1.49% | 2.02% | 2.29% | 1.92% | 1.80% | 1.83% |
Frequently Asked Questions
With a correlation of 0.93, XAW.TO and TEQT.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, TEQT.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TEQT.TO is cheaper with a 0.17% expense ratio, compared with 0.22% for XAW.TO.
XAW.TO tracks Morningstar Gbl GR CAD, while TEQT.TO tracks 25% Solactive Canada Broad Market Index (C$, Net Total Return); 55% Solactive US Large Cap CAD Index (C$, Net Total Return); 20% Solactive GBS Developed Markets ex. North America Large & Mid Cap CAD Index (C$, Net Total Return). They also come from different issuers: iShares and TD. Their fees differ too: 0.22% for XAW.TO and 0.17% for TEQT.TO.
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