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 $29.79 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: +17.61%, 1-year: +22.67%, 3-year annualised: +17.13%, 5-year annualised: +13.61%. 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 $977M 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
2026-07-20	$29.87	$30.00	$29.79	$29.79	$29.79	9,111
2026-07-17	$29.78	$29.88	$29.70	$29.77	$29.77	8,201
2026-07-16	$30.04	$30.10	$29.91	$29.99	$29.99	7,960
2026-07-15	$29.80	$29.99	$29.79	$29.88	$29.88	10,885
2026-07-14	$29.91	$29.92	$29.84	$29.92	$29.92	10,554
2026-07-13	$30.18	$30.18	$29.90	$29.96	$29.96	7,563
2026-07-10	$30.48	$30.48	$30.00	$30.06	$30.06	23,369
2026-07-09	$29.94	$30.16	$29.94	$30.12	$30.12	10,118
2026-07-08	$29.88	$29.88	$29.70	$29.70	$29.70	3,383
2026-07-07	$30.30	$30.35	$29.98	$30.09	$30.09	75,907

#	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%

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

ETF Details

7 stocks to buy and hold forever

Compare TQSM

Explore More

Compare TQSM vs Similar ETFs

Frequently Asked Questions — TQSM