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AIRR vs. HXQ.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

AIRR vs. HXQ.TO

Last updated Jun 13, 2026

AIRR (First Trust RBA American Industrial Renaissance ETF) and HXQ.TO (Horizons NASDAQ-100 Index ETF) are both exchange-traded funds - AIRR is a Building & Construction fund tracking the Richard Bernstein Advisors American Industrial Renaissance Index, while HXQ.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, AIRR returned 22.05%/yr vs 21.23%/yr for HXQ.TO. At a 0.41 correlation, their price movements are largely independent. AIRR charges 0.69%/yr vs 0.25%/yr for HXQ.TO.

Performance

AIRR vs. HXQ.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust RBA American Industrial Renaissance ETF (AIRR) and Horizons NASDAQ-100 Index ETF (HXQ.TO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

AIRR is traded in USD, while HXQ.TO is traded in CAD. To make them comparable, the HXQ.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, AIRR achieves a 31.74% return, which is significantly higher than HXQ.TO's 17.23% return. Both investments have delivered pretty close results over the past 10 years, with AIRR having a 22.05% annualized return and HXQ.TO not far behind at 21.23%.

AIRR

1D
0.83%
1M
-0.02%
YTD
31.74%
6M
28.77%
1Y
65.25%
3Y*
35.29%
5Y*
25.46%
10Y*
22.05%

HXQ.TO

1D
0.55%
1M
0.92%
YTD
17.23%
6M
17.86%
1Y
36.33%
3Y*
26.37%
5Y*
16.50%
10Y*
21.23%
*Multi-year figures are annualized to reflect compound growth (CAGR)

AIRR vs. HXQ.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
AIRR
First Trust RBA American Industrial Renaissance ETF		31.74%27.92%33.45%31.43%-2.08%33.01%17.17%33.97%-20.57%16.28%
HXQ.TO
Horizons NASDAQ-100 Index ETF		17.17%20.55%25.37%54.85%-32.14%26.26%49.12%37.94%-1.57%32.06%

Correlation

The correlation between AIRR and HXQ.TO is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.50

Correlation (3Y)
Calculated over the trailing 3-year period

0.48

Correlation (5Y)
Calculated over the trailing 5-year period

0.50

Correlation (10Y)
Calculated over the trailing 10-year period

0.41

Correlation (All Time)
Calculated using the full available price history since Apr 21, 2016

0.41

The correlation between AIRR and HXQ.TO has been stable across timeframes, ranging from 0.41 to 0.50 - a consistent structural relationship.

AIRR vs. HXQ.TO - Sectors Allocation Comparison

Sectors
AIRR
HXQ.TO

Industrials

84.6%
3.1%

Financial Services

9.6%
0.3%

Energy

3.8%
0.5%

Technology

0.5%
55.9%

Basic Materials

-

1.0%

Communication Services

-

15.8%

Consumer Cyclical

-

13.2%

Consumer Defensive

-

4.4%

Healthcare

-

4.4%

Real Estate

-

0.2%

Utilities

-

1.4%

Industrials

AIRR
84.6%
HXQ.TO
3.1%

Financial Services

AIRR
9.6%
HXQ.TO
0.3%

Energy

AIRR
3.8%
HXQ.TO
0.5%

Technology

AIRR
0.5%
HXQ.TO
55.9%

Basic Materials

AIRR

-

HXQ.TO
1.0%

Communication Services

AIRR

-

HXQ.TO
15.8%

Consumer Cyclical

AIRR

-

HXQ.TO
13.2%

Consumer Defensive

AIRR

-

HXQ.TO
4.4%

Healthcare

AIRR

-

HXQ.TO
4.4%

Real Estate

AIRR

-

HXQ.TO
0.2%

Utilities

AIRR

-

HXQ.TO
1.4%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

First Trust RBA American Industrial Renaissance ETF

Horizons NASDAQ-100 Index ETF

Often compared with AIRR:
AIRR vs. PAVEAIRR vs. XLIAIRR vs. RSHOAIRR vs. XHBAIRR vs. QQQAIRR vs. PSCIAIRR vs. GRID
Often compared with HXQ.TO:
HXQ.TO vs. QQC.TOHXQ.TO vs. XQQ.TOHXQ.TO vs. VFV.TOHXQ.TO vs. QQQHXQ.TO vs. HXS.TOHXQ.TO vs. ZNQ.TOHXQ.TO vs. QQC-F.TO

Return for Risk

AIRR vs. HXQ.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
AIRR
AIRR Risk / Return Rank: 8686
Overall Rank
AIRR Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
AIRR Sortino Ratio Rank: 8383
Sortino Ratio Rank
AIRR Omega Ratio Rank: 7878
Omega Ratio Rank
AIRR Calmar Ratio Rank: 9191
Calmar Ratio Rank
AIRR Martin Ratio Rank: 9090
Martin Ratio Rank
HXQ.TO
HXQ.TO Risk / Return Rank: 7777
Overall Rank
HXQ.TO Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
HXQ.TO Sortino Ratio Rank: 8080
Sortino Ratio Rank
HXQ.TO Omega Ratio Rank: 8282
Omega Ratio Rank
HXQ.TO Calmar Ratio Rank: 7272
Calmar Ratio Rank
HXQ.TO Martin Ratio Rank: 6464
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AIRR vs. HXQ.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust RBA American Industrial Renaissance ETF (AIRR) and Horizons NASDAQ-100 Index ETF (HXQ.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

AIRRHXQ.TODifference
Sharpe ratioReturn per unit of total volatility
2.50
2.09

+0.41

Sortino ratioReturn per unit of downside risk
3.22
2.73

+0.49

Omega ratioGain probability vs. loss probability

1.40

1.38

+0.02

Calmar ratioReturn relative to maximum drawdown

5.01

3.05

+1.97

Martin ratioReturn relative to average drawdown

18.33

11.18

+7.15

AIRR vs. HXQ.TO - Sharpe Ratio Comparison

The current AIRR Sharpe Ratio is 2.50, which is comparable to the HXQ.TO Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of AIRR and HXQ.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

AIRR vs. HXQ.TO - Drawdown Comparison

The maximum AIRR drawdown since its inception was -42.37%, which is greater than HXQ.TO's maximum drawdown of -35.78%. Use the drawdown chart below to compare losses from any high point for AIRR and HXQ.TO.

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Drawdown Indicators

AIRRHXQ.TODifference

Max Drawdown

Largest peak-to-trough decline

-42.37%

-35.78%

-6.59%

Max Drawdown (1Y)

Largest decline over 1 year

-13.09%

-11.98%

-1.11%

Max Drawdown (3Y)

Largest decline over 3 years

-27.95%

-22.85%

-5.10%

Max Drawdown (5Y)

Largest decline over 5 years

-27.95%

-35.78%

+7.83%

Max Drawdown (10Y)

Largest decline over 10 years

-42.37%

-35.78%

-6.59%

Current Drawdown

Current decline from peak

-1.89%

-3.52%

+1.63%

Average Drawdown

Average peak-to-trough decline

-7.48%

-6.35%

-1.13%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.57%

3.26%

+0.31%

Volatility

AIRR vs. HXQ.TO - Volatility Comparison

First Trust RBA American Industrial Renaissance ETF (AIRR) has a higher volatility of 9.32% compared to Horizons NASDAQ-100 Index ETF (HXQ.TO) at 7.30%. This indicates that AIRR's price experiences larger fluctuations and is considered to be riskier than HXQ.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

AIRRHXQ.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

9.32%

7.30%

+2.02%

Volatility (6M)

Calculated over the trailing 6-month period

20.81%

13.67%

+7.14%

Volatility (1Y)

Calculated over the trailing 1-year period

26.19%

17.43%

+8.76%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

25.45%

21.64%

+3.81%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

26.36%

21.58%

+4.78%

AIRR vs. HXQ.TO - Expense Ratio Comparison

AIRR has a 0.69% expense ratio, which is higher than HXQ.TO's 0.25% expense ratio.

Dividends

AIRR vs. HXQ.TO - Dividend Comparison

AIRR's dividend yield for the trailing twelve months is around 0.13%, while HXQ.TO has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
AIRR
First Trust RBA American Industrial Renaissance ETF		0.13%0.19%0.18%0.23%0.12%0.05%0.10%0.20%0.43%0.30%0.08%0.47%
HXQ.TO
Horizons NASDAQ-100 Index ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

AIRR and HXQ.TO have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, HXQ.TO is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

HXQ.TO is cheaper with a 0.25% expense ratio, compared with 0.69% for AIRR.

AIRR is categorized as Building & Construction, while HXQ.TO is Nasdaq-100. AIRR tracks Richard Bernstein Advisors American Industrial Renaissance Index, while HXQ.TO tracks NASDAQ-100 Index. They also come from different issuers: First Trust and Horizons. Their fees differ too: 0.69% for AIRR and 0.25% for HXQ.TO.

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