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CJP.NEO vs. XQQ.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CJP.NEO vs. XQQ.TO

Last updated Jun 4, 2026

CJP.NEO (iShares Japan Fundamental Index ETF (CAD-Hedged)) and XQQ.TO (iShares NASDAQ 100 Index ETF (CAD-Hedged)) are both exchange-traded funds - CJP.NEO is a Japan Equities fund tracking the FTSE RAFI Japan Canadian Dollar Hedged Index, while XQQ.TO is a Nasdaq-100 fund tracking the Morningstar US Market TR CAD. Both are passively managed. Over the past 10 years, CJP.NEO returned 16.15%/yr vs 19.70%/yr for XQQ.TO. At a 0.44 correlation, their price movements are largely independent. CJP.NEO charges 0.71%/yr vs 0.39%/yr for XQQ.TO.

Performance

CJP.NEO vs. XQQ.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Japan Fundamental Index ETF (CAD-Hedged) (CJP.NEO) and iShares NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both investments are quite close, with CJP.NEO having a 19.29% return and XQQ.TO slightly higher at 19.81%. Over the past 10 years, CJP.NEO has underperformed XQQ.TO with an annualized return of 16.15%, while XQQ.TO has yielded a comparatively higher 19.70% annualized return.

CJP.NEO

1D
0.46%
1M
9.32%
YTD
19.29%
6M
23.23%
1Y
51.21%
3Y*
30.24%
5Y*
22.91%
10Y*
16.15%

XQQ.TO

1D
-0.27%
1M
10.58%
YTD
19.81%
6M
18.06%
1Y
38.49%
3Y*
26.43%
5Y*
15.31%
10Y*
19.70%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CJP.NEO vs. XQQ.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CJP.NEO
iShares Japan Fundamental Index ETF (CAD-Hedged)		19.29%30.67%26.74%35.03%3.67%18.19%0.18%13.12%-17.35%21.33%
XQQ.TO
iShares NASDAQ 100 Index ETF (CAD-Hedged)		19.81%18.38%24.23%52.23%-33.67%22.29%45.23%37.48%-2.33%31.83%

Correlation

The correlation between CJP.NEO and XQQ.TO is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.44

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

0.46

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

0.45

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

0.47

Correlation (All Time)
Calculated using the full available price history since May 11, 2011

0.44

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iShares Japan Fundamental Index ETF (CAD-Hedged)

iShares NASDAQ 100 Index ETF (CAD-Hedged)

Often compared with CJP.NEO:
CJP.NEO vs. ZJPN.TOCJP.NEO vs. JAPN.TOCJP.NEO vs. EWJCJP.NEO vs. VCE.TOCJP.NEO vs. XEQT.TOCJP.NEO vs. AGF-B.TOCJP.NEO vs. FLJP
Often compared with XQQ.TO:
XQQ.TO vs. QQC.TOXQQ.TO vs. VFV.TOXQQ.TO vs. HXQ.TOXQQ.TO vs. XQQU.TOXQQ.TO vs. QQQXQQ.TO vs. ZQQ.TOXQQ.TO vs. TEC.TO

Return for Risk

CJP.NEO vs. XQQ.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CJP.NEO
CJP.NEO Risk / Return Rank: 8686
Overall Rank
CJP.NEO Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
CJP.NEO Sortino Ratio Rank: 8585
Sortino Ratio Rank
CJP.NEO Omega Ratio Rank: 8686
Omega Ratio Rank
CJP.NEO Calmar Ratio Rank: 8585
Calmar Ratio Rank
CJP.NEO Martin Ratio Rank: 8585
Martin Ratio Rank
XQQ.TO
XQQ.TO Risk / Return Rank: 6666
Overall Rank
XQQ.TO Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
XQQ.TO Sortino Ratio Rank: 6969
Sortino Ratio Rank
XQQ.TO Omega Ratio Rank: 6868
Omega Ratio Rank
XQQ.TO Calmar Ratio Rank: 6060
Calmar Ratio Rank
XQQ.TO Martin Ratio Rank: 6262
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.

CJP.NEO vs. XQQ.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Japan Fundamental Index ETF (CAD-Hedged) (CJP.NEO) and iShares NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.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.

CJP.NEOXQQ.TODifference
Sharpe ratioReturn per unit of total volatility
2.89
2.45

+0.44

Sortino ratioReturn per unit of downside risk
3.85
3.20

+0.64

Omega ratioGain probability vs. loss probability

1.53

1.42

+0.11

Calmar ratioReturn relative to maximum drawdown

4.68

3.03

+1.65

Martin ratioReturn relative to average drawdown

17.78

11.31

+6.47

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CJP.NEO vs. XQQ.TO - Sharpe Ratio Comparison

The current CJP.NEO Sharpe Ratio is 2.89, which is comparable to the XQQ.TO Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of CJP.NEO and XQQ.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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Sharpe Ratios by Period

CJP.NEOXQQ.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.89

2.45

+0.44

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.26

0.68

+0.58

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.83

0.89

-0.06

Sharpe Ratio (All Time)

Calculated using the full available price history

0.45

0.86

-0.41

Drawdowns

CJP.NEO vs. XQQ.TO - Drawdown Comparison

The maximum CJP.NEO drawdown since its inception was -38.36%, roughly equal to the maximum XQQ.TO drawdown of -38.55%. Use the drawdown chart below to compare losses from any high point for CJP.NEO and XQQ.TO.

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Drawdown Indicators

CJP.NEOXQQ.TODifference

Max Drawdown

Largest peak-to-trough decline

-38.36%

-38.55%

+0.19%

Max Drawdown (1Y)

Largest decline over 1 year

-10.99%

-12.76%

+1.77%

Max Drawdown (3Y)

Largest decline over 3 years

-20.86%

-22.72%

+1.86%

Max Drawdown (5Y)

Largest decline over 5 years

-20.86%

-38.55%

+17.69%

Max Drawdown (10Y)

Largest decline over 10 years

-37.75%

-38.55%

+0.80%

Current Drawdown

Current decline from peak

0.00%

-0.27%

+0.27%

Average Drawdown

Average peak-to-trough decline

-11.17%

-5.92%

-5.25%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.90%

3.41%

-0.51%

Volatility

CJP.NEO vs. XQQ.TO - Volatility Comparison

The current volatility for iShares Japan Fundamental Index ETF (CAD-Hedged) (CJP.NEO) is 3.09%, while iShares NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.TO) has a volatility of 4.48%. This indicates that CJP.NEO experiences smaller price fluctuations and is considered to be less risky than XQQ.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CJP.NEOXQQ.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.09%

4.48%

-1.39%

Volatility (6M)

Calculated over the trailing 6-month period

12.95%

12.00%

+0.95%

Volatility (1Y)

Calculated over the trailing 1-year period

17.80%

15.82%

+1.98%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.27%

22.52%

-4.25%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.61%

22.34%

-2.73%

CJP.NEO vs. XQQ.TO - Expense Ratio Comparison

CJP.NEO has a 0.71% expense ratio, which is higher than XQQ.TO's 0.39% expense ratio.

Dividends

CJP.NEO vs. XQQ.TO - Dividend Comparison

CJP.NEO's dividend yield for the trailing twelve months is around 1.24%, more than XQQ.TO's 0.21% yield.

PositionTTM20252024202320222021202020192018201720162015
CJP.NEO
iShares Japan Fundamental Index ETF (CAD-Hedged)		1.24%1.48%1.71%1.24%1.96%1.56%1.97%2.42%2.38%1.48%0.97%0.84%
XQQ.TO
iShares NASDAQ 100 Index ETF (CAD-Hedged)		0.21%0.25%0.32%0.31%0.43%0.17%0.26%0.46%0.52%0.53%0.76%0.62%

Frequently Asked Questions

CJP.NEO and XQQ.TO have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XQQ.TO is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XQQ.TO is cheaper with a 0.39% expense ratio, compared with 0.71% for CJP.NEO.

CJP.NEO is categorized as Japan Equities, while XQQ.TO is Nasdaq-100. CJP.NEO tracks FTSE RAFI Japan Canadian Dollar Hedged Index, while XQQ.TO tracks Morningstar US Market TR CAD. Their fees differ too: 0.71% for CJP.NEO and 0.39% for XQQ.TO.

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