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CPD.TO vs. XQQ.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CPD.TO vs. XQQ.TO

Last updated Jun 4, 2026

CPD.TO (iShares S&P/TSX Canadian Preferred Share Index ETF) and XQQ.TO (iShares NASDAQ 100 Index ETF (CAD-Hedged)) are both exchange-traded funds - CPD.TO is a Preferred Stock/Convertible Bonds fund tracking the S&P/TSX Preferred Share TR, while XQQ.TO is a Nasdaq-100 fund tracking the Morningstar US Market TR CAD. Both are passively managed. Over the past 10 years, CPD.TO returned 6.38%/yr vs 19.70%/yr for XQQ.TO. At a 0.23 correlation, their price movements are largely independent. CPD.TO charges 0.50%/yr vs 0.39%/yr for XQQ.TO.

Performance

CPD.TO vs. XQQ.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P/TSX Canadian Preferred Share Index ETF (CPD.TO) 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

In the year-to-date period, CPD.TO achieves a 3.57% return, which is significantly lower than XQQ.TO's 19.81% return. Over the past 10 years, CPD.TO has underperformed XQQ.TO with an annualized return of 6.38%, while XQQ.TO has yielded a comparatively higher 19.70% annualized return.

CPD.TO

1D
-0.07%
1M
0.79%
YTD
3.57%
6M
4.38%
1Y
14.16%
3Y*
15.84%
5Y*
5.55%
10Y*
6.38%

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)

CPD.TO vs. XQQ.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CPD.TO
iShares S&P/TSX Canadian Preferred Share Index ETF		3.57%16.10%23.31%6.23%-19.19%18.85%5.35%3.35%-9.05%13.44%
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 CPD.TO and XQQ.TO is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.28

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

0.27

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

0.28

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

0.27

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

0.23

CPD.TO vs. XQQ.TO - Sectors Allocation Comparison

Sectors
CPD.TO
XQQ.TO

Financial Services

6.3%
0.2%

Consumer Defensive

0.5%
7.7%

Basic Materials

-

1.1%

Communication Services

-

15.8%

Consumer Cyclical

-

12.2%

Energy

-

0.6%

Healthcare

-

4.2%

Industrials

-

3.1%

Real Estate

-

0.1%

Technology

-

53.7%

Utilities

-

1.4%

Financial Services

CPD.TO
6.3%
XQQ.TO
0.2%

Consumer Defensive

CPD.TO
0.5%
XQQ.TO
7.7%

Basic Materials

CPD.TO

-

XQQ.TO
1.1%

Communication Services

CPD.TO

-

XQQ.TO
15.8%

Consumer Cyclical

CPD.TO

-

XQQ.TO
12.2%

Energy

CPD.TO

-

XQQ.TO
0.6%

Healthcare

CPD.TO

-

XQQ.TO
4.2%

Industrials

CPD.TO

-

XQQ.TO
3.1%

Real Estate

CPD.TO

-

XQQ.TO
0.1%

Technology

CPD.TO

-

XQQ.TO
53.7%

Utilities

CPD.TO

-

XQQ.TO
1.4%

Compare stocks, funds, or ETFs

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iShares S&P/TSX Canadian Preferred Share Index ETF

iShares NASDAQ 100 Index ETF (CAD-Hedged)

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CPD.TO vs. XEI.TOCPD.TO vs. VDY.TOCPD.TO vs. XDIV.TOCPD.TO vs. fie.TOCPD.TO vs. VFV.TOCPD.TO vs. XAW.TOCPD.TO vs. ^GSPC
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

CPD.TO vs. XQQ.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CPD.TO
CPD.TO Risk / Return Rank: 9393
Overall Rank
CPD.TO Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
CPD.TO Sortino Ratio Rank: 9393
Sortino Ratio Rank
CPD.TO Omega Ratio Rank: 9595
Omega Ratio Rank
CPD.TO Calmar Ratio Rank: 8989
Calmar Ratio Rank
CPD.TO Martin Ratio Rank: 9494
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.

CPD.TO vs. XQQ.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Canadian Preferred Share Index ETF (CPD.TO) 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.

CPD.TOXQQ.TODifference
Sharpe ratioReturn per unit of total volatility
3.45
2.45

+1.00

Sortino ratioReturn per unit of downside risk
4.73
3.20

+1.52

Omega ratioGain probability vs. loss probability

1.76

1.42

+0.34

Calmar ratioReturn relative to maximum drawdown

5.27

3.03

+2.24

Martin ratioReturn relative to average drawdown

26.40

11.31

+15.09

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

CPD.TO vs. XQQ.TO - Sharpe Ratio Comparison

The current CPD.TO Sharpe Ratio is 3.45, which is higher than the XQQ.TO Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of CPD.TO 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

CPD.TOXQQ.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.45

2.45

+1.00

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.72

0.68

+0.04

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.60

0.89

-0.28

Sharpe Ratio (All Time)

Calculated using the full available price history

0.32

0.86

-0.54

Drawdowns

CPD.TO vs. XQQ.TO - Drawdown Comparison

The maximum CPD.TO drawdown since its inception was -40.92%, which is greater than XQQ.TO's maximum drawdown of -38.55%. Use the drawdown chart below to compare losses from any high point for CPD.TO and XQQ.TO.

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Drawdown Indicators

CPD.TOXQQ.TODifference

Max Drawdown

Largest peak-to-trough decline

-40.92%

-38.55%

-2.37%

Max Drawdown (1Y)

Largest decline over 1 year

-2.70%

-12.76%

+10.06%

Max Drawdown (3Y)

Largest decline over 3 years

-7.65%

-22.72%

+15.07%

Max Drawdown (5Y)

Largest decline over 5 years

-24.12%

-38.55%

+14.43%

Max Drawdown (10Y)

Largest decline over 10 years

-40.92%

-38.55%

-2.37%

Current Drawdown

Current decline from peak

-0.36%

-0.27%

-0.09%

Average Drawdown

Average peak-to-trough decline

-6.70%

-5.92%

-0.78%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.54%

3.41%

-2.87%

Volatility

CPD.TO vs. XQQ.TO - Volatility Comparison

The current volatility for iShares S&P/TSX Canadian Preferred Share Index ETF (CPD.TO) is 0.87%, while iShares NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.TO) has a volatility of 4.48%. This indicates that CPD.TO 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

CPD.TOXQQ.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.87%

4.48%

-3.61%

Volatility (6M)

Calculated over the trailing 6-month period

2.79%

12.00%

-9.21%

Volatility (1Y)

Calculated over the trailing 1-year period

4.12%

15.82%

-11.70%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.71%

22.52%

-14.81%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

10.62%

22.34%

-11.72%

CPD.TO vs. XQQ.TO - Expense Ratio Comparison

CPD.TO has a 0.50% expense ratio, which is higher than XQQ.TO's 0.39% expense ratio.

Dividends

CPD.TO vs. XQQ.TO - Dividend Comparison

CPD.TO's dividend yield for the trailing twelve months is around 5.02%, more than XQQ.TO's 0.21% yield.

PositionTTM20252024202320222021202020192018201720162015
CPD.TO
iShares S&P/TSX Canadian Preferred Share Index ETF		5.02%4.96%5.11%5.88%5.53%4.17%4.96%5.02%4.74%4.33%4.85%5.44%
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

CPD.TO and XQQ.TO have a correlation of 0.28, 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 0.50% for CPD.TO.

CPD.TO is categorized as Preferred Stock/Convertible Bonds, while XQQ.TO is Nasdaq-100. CPD.TO tracks S&P/TSX Preferred Share TR, while XQQ.TO tracks Morningstar US Market TR CAD. Their fees differ too: 0.50% for CPD.TO and 0.39% for XQQ.TO.

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