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 $29.89 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: +18.00%, 1-year: +21.42%, 3-year annualised: +15.90%, 5-year annualised: +13.60%. Past performance is not a guarantee of future results. The 3-year Sharpe ratio is 0.99, 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 0.71%. 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 US Foods Holding Corp (USFD, 1.5%), Stonex Group Inc (SNEX, 1.5%), HF Sinclair Corp (DINO, 1.3%), Reinsurance Group of America (RGA, 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 (20.8%), Financial Services (20.2%), Technology (14.3%). 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 $984M 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 11.36% and a beta of 1.00 (roughly in line with the broad market). Its 3-year Sharpe ratio of 0.99 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
2026-07-31	$30.19	$30.19	$29.74	$29.89	$29.89	3,706
2026-07-30	$29.76	$29.94	$29.72	$29.94	$29.94	7,159
2026-07-29	$29.90	$29.90	$29.72	$29.73	$29.73	7,403
2026-07-28	$30.01	$30.17	$29.97	$30.16	$30.16	5,987
2026-07-27	$30.05	$30.22	$30.03	$30.21	$30.21	12,895
2026-07-24	$30.04	$30.20	$30.02	$30.04	$30.04	9,388
2026-07-23	$30.05	$30.05	$29.79	$29.90	$29.90	10,906
2026-07-22	$29.79	$30.12	$29.79	$30.05	$30.05	4,401
2026-07-21	$30.17	$30.20	$29.95	$30.20	$30.20	9,561
2026-07-20	$29.87	$30.00	$29.79	$29.79	$29.79	9,111

#	Ticker	Name	Weight
1	USFD	US Foods Holding Corp	1.50%
2	SNEX	Stonex Group Inc	1.48%
3	DINO	HF Sinclair Corp	1.30%
4	RGA	Reinsurance Group of America	1.27%
5	EXEL	Exelixis Inc	1.27%
6	FBP	First BanCorp.	1.27%
7	EQH	Axa Equitable Holdings Inc	1.20%
8	OVV	Ovintiv Inc	1.20%
9	MLI	Mueller Industries Inc	1.19%
10	ATI	Allegheny Technologies Incorporated	1.18%

Sector	Weight
Industrials	20.75%
Financial Services	20.19%
Technology	14.32%
Consumer Cyclicals	13.23%
Healthcare	8.06%
Consumer Defensive	7.09%
Energy	5.89%
Basic Materials	4.35%
Real Estate	3.89%
Communication Services	1.60%
Utilities	0.62%

Ticker	Name	Price	1D
AMZU		$28.46	+30.19%
AMHE-U	Harvest Amazon Enhanced High Income Shares ETF	$14.27	+16.68%
COID		$8.24	+16.38%
AMHE	Harvest Amazon Enhanced High Income Shares ETF - Class A Units	$14.70	+14.84%
ALPU		$19.24	+13.51%
AMZH-U	Harvest Amazon High Income Shares ETF	$13.87	+13.13%
MSFH-U	Harvest Microsoft Enhanced High Income Shares ETF	$9.48	+12.46%
PINV	Purpose Global Innovators Fund ETF	$31.26	+12.08%

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

CIBC Investor's Edge

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