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

DLR.TO vs. QQC-F.TO

Last updated Jul 14, 2026
Documentation

DLR.TO (Global X U.S. Dollar Currency ETF) and QQC-F.TO (Invesco NASDAQ 100 Index ETF CAD Hedged) are both exchange-traded funds - DLR.TO is a Currency fund actively managed by Global X, while QQC-F.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index. DLR.TO is actively managed, while QQC-F.TO is passively managed. Over the past 10 years, DLR.TO returned 2.47%/yr vs 19.59%/yr for QQC-F.TO. At a correlation of -0.28, they often move in opposite directions.

Performance

DLR.TO vs. QQC-F.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X U.S. Dollar Currency ETF (DLR.TO) 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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Returns By Period

In the year-to-date period, DLR.TO achieves a 4.60% return, which is significantly lower than QQC-F.TO's 14.50% return. Over the past 10 years, DLR.TO has underperformed QQC-F.TO with an annualized return of 2.47%, while QQC-F.TO has yielded a comparatively higher 19.59% annualized return.

DLR.TO

1D
0.07%
1M
1.45%
6M
3.41%
YTD
4.60%
1Y
6.59%
3Y*
5.96%
5Y*
5.33%
10Y*
2.47%

QQC-F.TO

1D
-1.79%
1M
-1.33%
6M
12.14%
YTD
14.50%
1Y
26.25%
3Y*
22.12%
5Y*
13.47%
10Y*
19.59%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
DLR.TO
Global X U.S. Dollar Currency ETF		4.60%-1.34%12.85%1.81%8.33%-0.93%-2.21%-3.68%9.77%-6.51%
QQC-F.TO
Invesco NASDAQ 100 Index ETF CAD Hedged		14.50%18.79%24.19%52.81%-33.42%27.15%45.04%37.63%-2.23%31.94%

Correlation

The correlation between DLR.TO and QQC-F.TO is -0.22, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

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

-0.22

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

-0.25

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

-0.37

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

-0.32

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

-0.28

The correlation between DLR.TO and QQC-F.TO shifts across timeframes, from -0.37 (5 years) to -0.22 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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Global X U.S. Dollar Currency ETF

Invesco NASDAQ 100 Index ETF CAD Hedged

Often compared with DLR.TO:
DLR.TO vs. HXT.TODLR.TO vs. CASH.TODLR.TO vs. CBIL.TODLR.TO vs. HXS.TODLR.TO vs. CHPS.TODLR.TO vs. HBNK.TODLR.TO vs. QQCL.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. XQQ.TOQQC-F.TO vs. QQQMQQC-F.TO vs. VFV.TO

Return for Risk

DLR.TO vs. QQC-F.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DLR.TO
DLR.TO Risk / Return Rank: 5151
Overall Rank
DLR.TO Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
DLR.TO Sortino Ratio Rank: 5858
Sortino Ratio Rank
DLR.TO Omega Ratio Rank: 6060
Omega Ratio Rank
DLR.TO Calmar Ratio Rank: 4141
Calmar Ratio Rank
DLR.TO Martin Ratio Rank: 3636
Martin Ratio Rank
QQC-F.TO
QQC-F.TO Risk / Return Rank: 5151
Overall Rank
QQC-F.TO Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
QQC-F.TO Sortino Ratio Rank: 4949
Sortino Ratio Rank
QQC-F.TO Omega Ratio Rank: 5050
Omega Ratio Rank
QQC-F.TO Calmar Ratio Rank: 5151
Calmar Ratio Rank
QQC-F.TO Martin Ratio Rank: 5252
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.

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

This table presents a comparison of risk-adjusted performance metrics for Global X U.S. Dollar Currency ETF (DLR.TO) 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.

DLR.TOQQC-F.TODifference
Sharpe ratioReturn per unit of total volatility
1.56
1.43

+0.13

Sortino ratioReturn per unit of downside risk
2.22
1.96

+0.25

Omega ratioGain probability vs. loss probability

1.29

1.25

+0.04

Calmar ratioReturn relative to maximum drawdown

1.68

2.03

-0.35

Martin ratioReturn relative to average drawdown

4.44

7.11

-2.68

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

The current DLR.TO Sharpe Ratio is 1.56, which is comparable to the QQC-F.TO Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of DLR.TO 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

DLR.TO vs. QQC-F.TO - Drawdown Comparison

The maximum DLR.TO drawdown since its inception was -17.60%, smaller than the maximum QQC-F.TO drawdown of -36.03%. Use the drawdown chart below to compare losses from any high point for DLR.TO and QQC-F.TO.

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Drawdown Indicators

DLR.TOQQC-F.TODifference

Max Drawdown

Largest peak-to-trough decline

-17.60%

-36.03%

+18.43%

Max Drawdown (1Y)

Largest decline over 1 year

-3.94%

-12.98%

+9.04%

Max Drawdown (3Y)

Largest decline over 3 years

-5.77%

-22.76%

+16.99%

Max Drawdown (5Y)

Largest decline over 5 years

-5.77%

-36.03%

+30.26%

Max Drawdown (10Y)

Largest decline over 10 years

-17.60%

-36.03%

+18.43%

Current Drawdown

Current decline from peak

-0.37%

-4.73%

+4.36%

Average Drawdown

Average peak-to-trough decline

-6.41%

-5.48%

-0.93%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.49%

3.70%

-2.21%

Volatility

DLR.TO vs. QQC-F.TO - Volatility Comparison

The current volatility for Global X U.S. Dollar Currency ETF (DLR.TO) is 1.05%, while Invesco NASDAQ 100 Index ETF CAD Hedged (QQC-F.TO) has a volatility of 8.01%. This indicates that DLR.TO 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

DLR.TOQQC-F.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

1.05%

8.01%

-6.96%

Volatility (6M)

Calculated over the trailing 6-month period

3.11%

15.16%

-12.05%

Volatility (1Y)

Calculated over the trailing 1-year period

4.24%

18.46%

-14.22%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.22%

22.84%

-16.62%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.57%

22.68%

-16.11%

Dividends

DLR.TO vs. QQC-F.TO - Dividend Comparison

DLR.TO's dividend yield for the trailing twelve months is around 3.88%, more than QQC-F.TO's 0.34% yield.

PositionTTM20252024202320222021202020192018201720162015
DLR.TO
Global X U.S. Dollar Currency ETF		3.88%3.33%3.23%4.98%0.00%0.00%0.00%0.57%0.00%0.00%0.00%0.00%
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

DLR.TO and QQC-F.TO have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DLR.TO is categorized as Currency, while QQC-F.TO is Nasdaq-100. They also come from different issuers: Global X and Invesco.

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