All the schools are the same because they're all publicly funded and must adhere to the same standards.
In terms of undergrad education they're the same for reasons listed above.
In terms of graduate education, they're similar but different. For example, if you want to study applied math, U of T, McMaster, McGill are good choices. If you want CS, there are many computer scientists at Waterloo. If you want to study logic, U of T has many set theorists but McMaster has more model theorists than any other school.
In terms of international reputation? McGill and to some extent U of T are well known in the USA.
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