CQQQ vs. TEC.TO

Last updated Jun 14, 2026

CQQQ (Invesco China Technology ETF) and TEC.TO (TD Global Technology Leaders Index ETF) are both exchange-traded funds - CQQQ is a China Equities fund tracking the FTSE China Incl A 25% Technology Capped Index, while TEC.TO is a Technology Equities fund tracking the Solactive Global Technology Leaders Index (CA NTR). Both are passively managed. Over the past 5 years, CQQQ returned -8.12%/yr vs 15.37%/yr for TEC.TO. At a 0.39 correlation, their price movements are largely independent. CQQQ charges 0.70%/yr vs 0.39%/yr for TEC.TO.

Performance

CQQQ vs. TEC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco China Technology ETF (CQQQ) and TD Global Technology Leaders Index ETF (TEC.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, CQQQ achieves a -1.35% return, which is significantly lower than TEC.TO's 10.53% return.

CQQQ

• 1D: -1.27%
• 1M: -4.26%
• YTD: -1.35%
• 6M: -0.24%
• 1Y: 23.87%
• 3Y*: 8.01%
• 5Y*: -8.12%
• 10Y*: 5.36%

TEC.TO

• 1D: 0.20%
• 1M: -2.32%
• YTD: 10.53%
• 6M: 11.61%
• 1Y: 31.73%
• 3Y*: 26.66%
• 5Y*: 15.37%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CQQQ vs. TEC.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
CQQQ Invesco China Technology ETF	-1.35%	34.96%	9.84%	-16.71%	-30.09%	-24.54%	57.33%	9.44%
TEC.TO TD Global Technology Leaders Index ETF	10.53%	20.97%	34.24%	57.02%	-36.24%	25.52%	51.13%	16.34%

Correlation

The correlation between CQQQ and TEC.TO is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.31
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (All Time) Calculated using the full available price history since May 9, 2019	0.39

The correlation between CQQQ and TEC.TO shifts across timeframes, from 0.31 (3 years) to 0.41 (1 year), reflecting how their relationship changes across market environments.

CQQQ vs. TEC.TO - Sectors Allocation Comparison

Sectors	CQQQ	TEC.TO
Technology	57.4%	64.4%
Communication Services	22.9%	17.7%
Consumer Cyclical	14.7%	11.8%
Industrials	1.2%	1.2%
Financial Services	0.2%	3.6%
Basic Materials	0.1%	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	0.7%
Real Estate	-	0.5%
Utilities	-	-

Return for Risk

CQQQ vs. TEC.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CQQQ

CQQQ Risk / Return Rank: 22
CQQQ Sharpe Ratio Rank: 23
CQQQ Sortino Ratio Rank: 24
CQQQ Omega Ratio Rank: 23
CQQQ Calmar Ratio Rank: 22
CQQQ Martin Ratio Rank: 20

TEC.TO

TEC.TO Risk / Return Rank: 54
TEC.TO Sharpe Ratio Rank: 66
TEC.TO Sortino Ratio Rank: 59
TEC.TO Omega Ratio Rank: 62
TEC.TO Calmar Ratio Rank: 43
TEC.TO Martin Ratio Rank: 40

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.

CQQQ vs. TEC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco China Technology ETF (CQQQ) and TD Global Technology Leaders Index ETF (TEC.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.

	CQQQ	TEC.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.71	1.64	-0.93
Sortino ratio: Return per unit of downside risk	1.18	2.16	-0.98
Omega ratio: Gain probability vs. loss probability	1.14	1.29	-0.15
Calmar ratio: Return relative to maximum drawdown	0.87	1.77	-0.90
Martin ratio: Return relative to average drawdown	2.01	5.75	-3.74

CQQQ vs. TEC.TO - Sharpe Ratio Comparison

The current CQQQ Sharpe Ratio is 0.71, which is lower than the TEC.TO Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of CQQQ and TEC.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.

Drawdowns

CQQQ vs. TEC.TO - Drawdown Comparison

The maximum CQQQ drawdown since its inception was -73.99%, which is greater than TEC.TO's maximum drawdown of -40.52%. Use the drawdown chart below to compare losses from any high point for CQQQ and TEC.TO.

Drawdown Indicators

	CQQQ	TEC.TO	Difference
Max Drawdown Largest peak-to-trough decline	-73.99%	-40.52%	-33.47%
Max Drawdown (1Y) Largest decline over 1 year	-24.41%	-17.18%	-7.23%
Max Drawdown (3Y) Largest decline over 3 years	-35.93%	-24.68%	-11.25%
Max Drawdown (5Y) Largest decline over 5 years	-66.96%	-40.52%	-26.44%
Max Drawdown (10Y) Largest decline over 10 years	-73.99%	—	—
Current Drawdown Current decline from peak	-51.07%	-6.11%	-44.96%
Average Drawdown Average peak-to-trough decline	-28.32%	-9.14%	-19.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.60%	5.28%	+5.32%

Volatility

CQQQ vs. TEC.TO - Volatility Comparison

Invesco China Technology ETF (CQQQ) has a higher volatility of 10.63% compared to TD Global Technology Leaders Index ETF (TEC.TO) at 7.22%. This indicates that CQQQ's price experiences larger fluctuations and is considered to be riskier than TEC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CQQQ	TEC.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.63%	7.22%	+3.41%
Volatility (6M) Calculated over the trailing 6-month period	22.55%	14.58%	+7.97%
Volatility (1Y) Calculated over the trailing 1-year period	30.20%	18.55%	+11.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.09%	23.19%	+14.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.33%	24.42%	+8.91%

CQQQ vs. TEC.TO - Expense Ratio Comparison

CQQQ has a 0.70% expense ratio, which is higher than TEC.TO's 0.39% expense ratio.

Dividends

CQQQ vs. TEC.TO - Dividend Comparison

CQQQ's dividend yield for the trailing twelve months is around 2.20%, more than TEC.TO's 0.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CQQQ Invesco China Technology ETF	2.20%	2.17%	0.28%	0.55%	0.08%	0.00%	0.47%	0.01%	0.43%	1.41%	1.69%	1.77%
TEC.TO TD Global Technology Leaders Index ETF	0.10%	0.13%	0.12%	0.21%	0.31%	0.22%	0.33%	0.28%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CQQQ and TEC.TO in my portfolio?

CQQQ and TEC.TO have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CQQQ or TEC.TO?

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

Which ETF is cheaper, CQQQ or TEC.TO?

TEC.TO is cheaper with a 0.39% expense ratio, compared with 0.70% for CQQQ.

What is the main difference between CQQQ and TEC.TO?

CQQQ is categorized as China Equities, while TEC.TO is Technology Equities. CQQQ tracks FTSE China Incl A 25% Technology Capped Index, while TEC.TO tracks Solactive Global Technology Leaders Index (CA NTR). They also come from different issuers: Invesco and TD. Their fees differ too: 0.70% for CQQQ and 0.39% for TEC.TO.