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XDIV.TO vs. TQCD.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XDIV.TO vs. TQCD.TO

Last updated Jun 4, 2026

XDIV.TO (iShares Core MSCI Canadian Quality Dividend Index ETF) and TQCD.TO (TD Q Canadian Dividend ETF) are both exchange-traded funds - XDIV.TO is a Dividend fund tracking the MSCI Canada High Dividend Yield 10% Security Capped Index, while TQCD.TO is a Canada Equities fund actively managed by TD. XDIV.TO is passively managed, while TQCD.TO is actively managed. Over the past 5 years, XDIV.TO returned 16.42%/yr vs 17.84%/yr for TQCD.TO. A 0.76 correlation means they provide meaningful diversification when combined. XDIV.TO charges 0.11%/yr vs 0.39%/yr for TQCD.TO.

Performance

XDIV.TO vs. TQCD.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.TO) and TD Q Canadian Dividend ETF (TQCD.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, XDIV.TO achieves a 19.17% return, which is significantly higher than TQCD.TO's 14.98% return.

XDIV.TO

1D
0.19%
1M
3.65%
YTD
19.17%
6M
18.94%
1Y
38.61%
3Y*
22.97%
5Y*
16.42%
10Y*
—

TQCD.TO

1D
-0.42%
1M
3.98%
YTD
14.98%
6M
17.36%
1Y
37.82%
3Y*
26.50%
5Y*
17.84%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XDIV.TO vs. TQCD.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
XDIV.TO
iShares Core MSCI Canadian Quality Dividend Index ETF		19.17%24.92%19.56%11.71%0.29%32.25%-7.81%-0.34%
TQCD.TO
TD Q Canadian Dividend ETF		14.98%33.11%22.27%12.29%1.68%26.29%-13.24%3.12%

Correlation

The correlation between XDIV.TO and TQCD.TO is 0.66, 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

0.66

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

0.77

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

0.76

Correlation (All Time)
Calculated using the full available price history since Nov 28, 2019

0.76

The correlation between XDIV.TO and TQCD.TO shifts across timeframes, from 0.66 (1 year) to 0.77 (3 years), reflecting how their relationship changes across market environments.

XDIV.TO vs. TQCD.TO - Sectors Allocation Comparison

Sectors
XDIV.TO
TQCD.TO

Financial Services

46.7%
35.4%

Energy

28.8%
21.1%

Consumer Cyclical

11.5%
2.6%

Utilities

11.3%
5.1%

Technology

1.3%
1.1%

Communication Services

0.4%
3.4%

Basic Materials

-

15.1%

Consumer Defensive

-

2.0%

Healthcare

-

0.3%

Industrials

-

10.2%

Real Estate

-

3.8%

Financial Services

XDIV.TO
46.7%
TQCD.TO
35.4%

Energy

XDIV.TO
28.8%
TQCD.TO
21.1%

Consumer Cyclical

XDIV.TO
11.5%
TQCD.TO
2.6%

Utilities

XDIV.TO
11.3%
TQCD.TO
5.1%

Technology

XDIV.TO
1.3%
TQCD.TO
1.1%

Communication Services

XDIV.TO
0.4%
TQCD.TO
3.4%

Basic Materials

XDIV.TO

-

TQCD.TO
15.1%

Consumer Defensive

XDIV.TO

-

TQCD.TO
2.0%

Healthcare

XDIV.TO

-

TQCD.TO
0.3%

Industrials

XDIV.TO

-

TQCD.TO
10.2%

Real Estate

XDIV.TO

-

TQCD.TO
3.8%

Compare stocks, funds, or ETFs

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iShares Core MSCI Canadian Quality Dividend Index ETF

TD Q Canadian Dividend ETF

Often compared with XDIV.TO:
XDIV.TO vs. VDY.TOXDIV.TO vs. XEI.TOXDIV.TO vs. XDV.TOXDIV.TO vs. XEQT.TOXDIV.TO vs. HDIV.TOXDIV.TO vs. XIU.TOXDIV.TO vs. CDZ.TO
Often compared with TQCD.TO:
TQCD.TO vs. VDY.TOTQCD.TO vs. TTP.TOTQCD.TO vs. TQGD.TOTQCD.TO vs. TEC.TOTQCD.TO vs. TBNK.TOTQCD.TO vs. XEI.TOTQCD.TO vs. XIC.TO

Return for Risk

XDIV.TO vs. TQCD.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XDIV.TO
XDIV.TO Risk / Return Rank: 9898
Overall Rank
XDIV.TO Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
XDIV.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
XDIV.TO Omega Ratio Rank: 9898
Omega Ratio Rank
XDIV.TO Calmar Ratio Rank: 9898
Calmar Ratio Rank
XDIV.TO Martin Ratio Rank: 9898
Martin Ratio Rank
TQCD.TO
TQCD.TO Risk / Return Rank: 9393
Overall Rank
TQCD.TO Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
TQCD.TO Sortino Ratio Rank: 9494
Sortino Ratio Rank
TQCD.TO Omega Ratio Rank: 9494
Omega Ratio Rank
TQCD.TO Calmar Ratio Rank: 8888
Calmar Ratio Rank
TQCD.TO Martin Ratio Rank: 9393
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.

XDIV.TO vs. TQCD.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.TO) and TD Q Canadian Dividend ETF (TQCD.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.

XDIV.TOTQCD.TODifference
Sharpe ratioReturn per unit of total volatility
4.94
3.83

+1.11

Sortino ratioReturn per unit of downside risk
7.29
5.01

+2.28

Omega ratioGain probability vs. loss probability

2.03

1.71

+0.32

Calmar ratioReturn relative to maximum drawdown

16.64

5.22

+11.41

Martin ratioReturn relative to average drawdown

56.55

25.92

+30.62

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XDIV.TO vs. TQCD.TO - Sharpe Ratio Comparison

The current XDIV.TO Sharpe Ratio is 4.94, which is comparable to the TQCD.TO Sharpe Ratio of 3.83. The chart below compares the historical Sharpe Ratios of XDIV.TO and TQCD.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

XDIV.TOTQCD.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

4.94

3.83

+1.11

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.57

1.46

+0.11

Sharpe Ratio (All Time)

Calculated using the full available price history

0.81

0.75

+0.06

Drawdowns

XDIV.TO vs. TQCD.TO - Drawdown Comparison

The maximum XDIV.TO drawdown since its inception was -41.30%, smaller than the maximum TQCD.TO drawdown of -46.47%. Use the drawdown chart below to compare losses from any high point for XDIV.TO and TQCD.TO.

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Drawdown Indicators

XDIV.TOTQCD.TODifference

Max Drawdown

Largest peak-to-trough decline

-41.30%

-46.47%

+5.17%

Max Drawdown (1Y)

Largest decline over 1 year

-2.33%

-7.27%

+4.94%

Max Drawdown (3Y)

Largest decline over 3 years

-10.53%

-12.42%

+1.89%

Max Drawdown (5Y)

Largest decline over 5 years

-17.60%

-15.65%

-1.95%

Current Drawdown

Current decline from peak

-0.09%

-0.42%

+0.33%

Average Drawdown

Average peak-to-trough decline

-4.25%

-5.99%

+1.74%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.69%

1.46%

-0.77%

Volatility

XDIV.TO vs. TQCD.TO - Volatility Comparison

iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.TO) and TD Q Canadian Dividend ETF (TQCD.TO) have volatilities of 2.81% and 2.86%, 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.

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Volatility by Period

XDIV.TOTQCD.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.81%

2.86%

-0.05%

Volatility (6M)

Calculated over the trailing 6-month period

6.36%

7.99%

-1.63%

Volatility (1Y)

Calculated over the trailing 1-year period

7.85%

9.92%

-2.07%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.53%

12.33%

-1.80%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.01%

19.43%

-3.42%

XDIV.TO vs. TQCD.TO - Expense Ratio Comparison

XDIV.TO has a 0.11% expense ratio, which is lower than TQCD.TO's 0.39% expense ratio.

Dividends

XDIV.TO vs. TQCD.TO - Dividend Comparison

XDIV.TO's dividend yield for the trailing twelve months is around 3.28%, more than TQCD.TO's 2.77% yield.

PositionTTM202520242023202220212020201920182017
TQCD.TO
TD Q Canadian Dividend ETF		2.77%2.95%3.47%3.73%4.03%4.09%6.20%0.39%0.00%0.00%
XDIV.TO
iShares Core MSCI Canadian Quality Dividend Index ETF		3.28%3.81%4.29%4.20%3.95%3.58%4.58%4.02%4.85%1.82%

Frequently Asked Questions

XDIV.TO and TQCD.TO have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XDIV.TO is cheaper at 0.11% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XDIV.TO is cheaper with a 0.11% expense ratio, compared with 0.39% for TQCD.TO.

XDIV.TO is categorized as Dividend, while TQCD.TO is Canada Equities. They also come from different issuers: iShares and TD. Their fees differ too: 0.11% for XDIV.TO and 0.39% for TQCD.TO.

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