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 $28.32 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: +11.80%, 1-year: +20.91%, 3-year annualised: +17.47%, 5-year annualised: +12.59%. Past performance is not a guarantee of future results.

Question 5

Does TQSM pay dividends or distributions?

Accepted Answer

Yes, TQSM distributes income to unitholders. The current distribution yield is approximately 0.81%. 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 Stonex Group Inc (SNEX, 1.6%), US Foods Holding Corp (USFD, 1.5%), Ovintiv Inc (OVV, 1.4%), Mueller Industries Inc (MLI, 1.4%), HF Sinclair Corp (DINO, 1.4%) — and 5 more positions. See the full Top 10 Holdings table above for a complete breakdown. The fund tracks the Morningstar US SMID TR CAD.

Question 7

What sectors does TQSM invest in?

Accepted Answer

TQSM's largest sector exposures are Financial Services (21.5%), Industrials (20.1%), Consumer Cyclicals (14.0%). 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 $870M 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 8.92% and a beta of 0.99 (roughly in line with the broad market). As with all market-linked investments, past volatility does not predict future risk.

Date	Open	High	Low	Close	Adj Close	Volume
2026-06-02	$28.10	$28.37	$28.10	$28.32	$28.32	15,848
2026-06-01	$27.71	$28.22	$27.71	$28.18	$28.18	6,110
2026-05-29	$27.70	$28.05	$27.70	$27.90	$27.90	15,584
2026-05-28	$28.09	$28.09	$27.91	$27.92	$27.92	3,681
2026-05-27	$28.36	$28.36	$28.06	$28.09	$28.09	4,547
2026-05-26	$27.71	$28.09	$27.71	$28.09	$28.09	2,741
2026-05-25	$27.90	$28.28	$27.90	$28.28	$28.28	1,532
2026-05-22	$27.73	$27.74	$27.57	$27.73	$27.73	6,116
2026-05-21	$27.34	$27.53	$27.26	$27.46	$27.46	5,920
2026-05-20	$26.91	$27.39	$26.91	$27.39	$27.39	3,755

#	Ticker	Name	Weight
1	SNEX	Stonex Group Inc	1.62%
2	USFD	US Foods Holding Corp	1.46%
3	OVV	Ovintiv Inc	1.44%
4	MLI	Mueller Industries Inc	1.39%
5	DINO	HF Sinclair Corp	1.39%
6	FBP	First BanCorp.	1.36%
7	FLEX	Flex Ltd	1.26%
8	SANM	Sanmina Corporation	1.24%
9	EQH	Axa Equitable Holdings Inc	1.23%
10	EXEL	Exelixis Inc	1.10%

Sector	Weight
Financial Services	21.47%
Industrials	20.12%
Consumer Cyclicals	13.99%
Technology	13.96%
Healthcare	7.28%
Consumer Defensive	7.13%
Energy	6.28%
Basic Materials	4.50%
Real Estate	3.09%
Communication Services	1.76%
Utilities	0.42%

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