Question 1

What is TQSM?

Accepted Answer

TQSM — TD Q U.S. Small-Mid-Cap Equity ETF — is a Canadian-listed ETF trading on the TSX. NA

Question 2

What is the TQSM ETF price today?

Accepted Answer

TQSM last traded at $29.93 CAD on the TSX. See the price chart above for recent performance.

Question 3

What is the TQSM MER (management expense ratio)?

Accepted Answer

TQSM has a management expense ratio (MER) of 0% per year. This fee is automatically deducted from the fund's assets, so you never pay it directly — but it does reduce your net returns over time. At 0%, TQSM is considered a low-cost ETF.

Question 4

What are TQSM annualised returns?

Accepted Answer

TQSM historical returns: YTD: +18.16%, 1-year: +16.59%, 3-year annualised: +17.03%, 5-year annualised: +13.57%. Past performance is not a guarantee of future results. The 3-year Sharpe ratio is 0.82, which measures risk-adjusted return.

Question 5

Does TQSM pay dividends or distributions?

Accepted Answer

Yes, TQSM distributes income to unitholders. The current distribution yield is approximately 0.73%. Distributions may include dividends, interest, capital gains, or return of capital depending on the fund's holdings. In a TFSA or RRSP, distributions are sheltered from tax.

Question 6

What does TQSM invest in?

Accepted Answer

TQSM's top holdings include HF Sinclair Corp (DINO, 1.6%), Reinsurance Group of America (RGA, 1.4%), Dynatrace Holdings LLC (DT, 1.4%), Ovintiv Inc (OVV, 1.3%), Exelixis Inc (EXEL, 1.3%) — and 5 more positions. See the full Top 10 Holdings table above for a complete breakdown. The fund tracks the Morningstar US SMID Mkt TR CAD.

Question 7

What sectors does TQSM invest in?

Accepted Answer

TQSM's largest sector exposures are Industrials (19.7%), Financial Services (19.6%), Technology (15.2%). The full sector breakdown is shown in the Sector Weights table on this page.

Question 8

How large is TQSM? (Assets under management)

Accepted Answer

TQSM has approximately $1.08B in assets under management (AUM). Larger AUM generally means better liquidity, tighter bid-ask spreads, and a lower risk of the fund being wound down.

Question 9

When was TQSM launched?

Accepted Answer

TQSM was launched on November 20, 2019, giving it a 7-year track record. A longer history makes it easier to evaluate how the ETF performs across different market cycles.

Question 10

How do I buy TQSM in Canada?

Accepted Answer

TQSM trades on the TSX under the ticker TQSM. You can buy it through any Canadian brokerage, including Wealthsimple Trade (commission-free), Questrade, TD Direct Investing, RBC Direct, and CIBC Investor's Edge. It can be held in a TFSA, RRSP, FHSA, or taxable account.

Question 11

How risky is TQSM?

Accepted Answer

TQSM has a 1-year volatility of 11.65% and a beta of 1.00 (roughly in line with the broad market). Its 3-year Sharpe ratio of 0.82 indicates moderate risk-adjusted returns. As with all market-linked investments, past volatility does not predict future risk.

Date	Open	High	Low	Close	Adj Close	Volume
2026-10-01	$29.51	$29.98	$29.44	$29.93	$29.93	11,478
2026-09-30	$29.70	$29.70	$29.60	$29.60	$29.60	1,847
2026-09-29	$29.80	$29.80	$29.47	$29.64	$29.64	3,500
2026-09-28	$29.73	$29.73	$29.51	$29.67	$29.67	10,526
2026-09-25	$29.48	$29.79	$29.48	$29.79	$29.79	8,196
2026-09-24	$29.59	$29.70	$29.53	$29.63	$29.63	12,132
2026-09-23	$29.60	$29.68	$29.56	$29.56	$29.56	6,585
2026-09-22	$29.77	$29.77	$29.66	$29.66	$29.66	2,718
2026-09-21	$29.47	$29.64	$29.47	$29.60	$29.60	4,235
2026-09-18	$29.62	$29.62	$29.31	$29.42	$29.42	6,205

#	Ticker	Name	Weight
1	DINO	HF Sinclair Corp	1.65%
2	RGA	Reinsurance Group of America	1.39%
3	DT	Dynatrace Holdings LLC	1.36%
4	OVV	Ovintiv Inc	1.31%
5	EXEL	Exelixis Inc	1.25%
6	USFD	US Foods Holding Corp	1.25%
7	SNEX	Stonex Group Inc	1.24%
8	EQH	Axa Equitable Holdings Inc	1.22%
9	MEDP	Medpace Holdings Inc	1.18%
10	ATI	Allegheny Technologies Incorporated	1.18%

Sector	Weight
Industrials	19.68%
Financial Services	19.60%
Technology	15.15%
Consumer Cyclicals	11.78%
Healthcare	8.19%
Energy	7.73%
Consumer Defensive	6.76%
Basic Materials	4.48%
Real Estate	4.07%
Communication Services	1.91%
Utilities	0.64%

Ticker	Name	Price	1D
MSTU		$43.77	+9.62%
OILU		$59.51	+6.19%
HOU	BetaPro Crude Oil Daily Bull ETF	$26.42	+5.98%
MUU		$19.42	+5.72%
RDDY	Harvest Reddit Enhanced High Income Shares ETF	$4.63	+5.71%
MSTE	Harvest MicroStrategy Enhanced High Income Shares ETF - Class A Units	$2.85	+4.40%
CSHI	Ninepoint Constellation Software HighShares ETF	$12.40	+4.11%
HND	BetaPro Natural Gas 2x Daily Bear	$24.40	+4.01%

CIBC Investor's Edge

TD Q U.S. Small-Mid-Cap Equity ETF (TQSM : TSX)

Price Chart (30 Days)

Key Statistics

Recent Price History

Annualised Returns

Top 10 Holdings

Sector Weights

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

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Frequently Asked Questions — TQSM