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BNS vs. QQC-F.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BNS vs. QQC-F.TO

Last updated Jun 13, 2026

BNS (The Bank of Nova Scotia) is a stock, while QQC-F.TO (Invesco NASDAQ 100 Index ETF CAD Hedged) is Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 10 years, BNS returned 11.61%/yr vs 19.14%/yr for QQC-F.TO. At a 0.39 correlation, their price movements are largely independent.

Performance

BNS vs. QQC-F.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in The Bank of Nova Scotia (BNS) and Invesco NASDAQ 100 Index ETF CAD Hedged (QQC-F.TO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, BNS achieves a 16.52% return, which is significantly higher than QQC-F.TO's 13.74% return. Over the past 10 years, BNS has underperformed QQC-F.TO with an annualized return of 11.61%, while QQC-F.TO has yielded a comparatively higher 19.14% annualized return.

BNS

1D
1.57%
1M
8.96%
YTD
16.52%
6M
17.99%
1Y
62.38%
3Y*
27.10%
5Y*
11.56%
10Y*
11.61%

QQC-F.TO

1D
0.47%
1M
-0.15%
YTD
13.74%
6M
14.59%
1Y
31.16%
3Y*
22.71%
5Y*
12.02%
10Y*
19.14%
*Multi-year figures are annualized to reflect compound growth (CAGR)

BNS vs. QQC-F.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
BNS
The Bank of Nova Scotia		16.52%45.11%17.55%8.53%-28.05%40.62%1.70%17.49%-18.28%21.83%
QQC-F.TO
Invesco NASDAQ 100 Index ETF CAD Hedged		13.74%24.47%14.49%56.53%-37.39%27.21%48.57%43.54%-9.81%41.52%

Correlation

The correlation between BNS and QQC-F.TO is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.36

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

0.36

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

0.45

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

0.41

Correlation (All Time)
Calculated using the full available price history since Jan 24, 2012

0.39

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The Bank of Nova Scotia

Invesco NASDAQ 100 Index ETF CAD Hedged

Often compared with BNS:
BNS vs. TDBNS vs. RYBNS vs. BNS.TOBNS vs. BMOBNS vs. XEQT.TOBNS vs. VDY.TOBNS vs. VFV.TO
Often compared with QQC-F.TO:
QQC-F.TO vs. QQC.TOQQC-F.TO vs. XEQT.TOQQC-F.TO vs. QQQQQC-F.TO vs. HXQ.TOQQC-F.TO vs. QQQMQQC-F.TO vs. XQQ.TOQQC-F.TO vs. VFV.TO

Return for Risk

BNS vs. QQC-F.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BNS
BNS Risk / Return Rank: 9696
Overall Rank
BNS Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
BNS Sortino Ratio Rank: 9898
Sortino Ratio Rank
BNS Omega Ratio Rank: 9797
Omega Ratio Rank
BNS Calmar Ratio Rank: 9292
Calmar Ratio Rank
BNS Martin Ratio Rank: 9595
Martin Ratio Rank
QQC-F.TO
QQC-F.TO Risk / Return Rank: 6464
Overall Rank
QQC-F.TO Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
QQC-F.TO Sortino Ratio Rank: 6565
Sortino Ratio Rank
QQC-F.TO Omega Ratio Rank: 6666
Omega Ratio Rank
QQC-F.TO Calmar Ratio Rank: 5858
Calmar Ratio Rank
QQC-F.TO Martin Ratio Rank: 5959
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.

BNS vs. QQC-F.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The Bank of Nova Scotia (BNS) and Invesco NASDAQ 100 Index ETF CAD Hedged (QQC-F.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.

BNSQQC-F.TODifference
Sharpe ratioReturn per unit of total volatility
3.73
1.69

+2.04

Sortino ratioReturn per unit of downside risk
5.22
2.26

+2.95

Omega ratioGain probability vs. loss probability

1.68

1.30

+0.38

Calmar ratioReturn relative to maximum drawdown

4.69

2.14

+2.55

Martin ratioReturn relative to average drawdown

18.38

8.21

+10.18

BNS vs. QQC-F.TO - Sharpe Ratio Comparison

The current BNS Sharpe Ratio is 3.73, which is higher than the QQC-F.TO Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of BNS and QQC-F.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

BNS vs. QQC-F.TO - Drawdown Comparison

The maximum BNS drawdown since its inception was -63.65%, which is greater than QQC-F.TO's maximum drawdown of -41.52%. Use the drawdown chart below to compare losses from any high point for BNS and QQC-F.TO.

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Drawdown Indicators

BNSQQC-F.TODifference

Max Drawdown

Largest peak-to-trough decline

-63.65%

-41.52%

-22.13%

Max Drawdown (1Y)

Largest decline over 1 year

-13.36%

-14.10%

+0.74%

Max Drawdown (3Y)

Largest decline over 3 years

-19.51%

-22.89%

+3.38%

Max Drawdown (5Y)

Largest decline over 5 years

-39.12%

-41.52%

+2.40%

Max Drawdown (10Y)

Largest decline over 10 years

-46.29%

-41.52%

-4.77%

Current Drawdown

Current decline from peak

0.00%

-4.36%

+4.36%

Average Drawdown

Average peak-to-trough decline

-11.01%

-7.44%

-3.57%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.40%

3.67%

-0.27%

Volatility

BNS vs. QQC-F.TO - Volatility Comparison

The current volatility for The Bank of Nova Scotia (BNS) is 4.91%, while Invesco NASDAQ 100 Index ETF CAD Hedged (QQC-F.TO) has a volatility of 7.22%. This indicates that BNS experiences smaller price fluctuations and is considered to be less risky than QQC-F.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BNSQQC-F.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.91%

7.22%

-2.31%

Volatility (6M)

Calculated over the trailing 6-month period

12.97%

14.09%

-1.12%

Volatility (1Y)

Calculated over the trailing 1-year period

16.80%

17.86%

-1.06%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.57%

23.35%

-3.78%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.92%

23.49%

-1.57%

Dividends

BNS vs. QQC-F.TO - Dividend Comparison

BNS's dividend yield for the trailing twelve months is around 3.79%, more than QQC-F.TO's 0.34% yield.

PositionTTM20252024202320222021202020192018201720162015
BNS
The Bank of Nova Scotia		3.79%4.17%5.85%8.56%6.39%5.09%4.93%3.53%6.34%4.80%5.24%8.13%
QQC-F.TO
Invesco NASDAQ 100 Index ETF CAD Hedged		0.34%0.39%0.50%0.57%0.89%0.66%0.49%0.64%0.77%0.66%0.81%0.76%

Frequently Asked Questions

BNS and QQC-F.TO have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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