PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
ENB.TO vs. HXQ.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ENB.TO vs. HXQ.TO

Last updated Jul 22, 2026
Documentation

ENB.TO (Enbridge Inc.) is a stock, while HXQ.TO (Horizons NASDAQ-100 Index ETF) is Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 10 years, ENB.TO returned 10.61%/yr vs 21.58%/yr for HXQ.TO. At a 0.13 correlation, their price movements are largely independent.

Performance

ENB.TO vs. HXQ.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Enbridge Inc. (ENB.TO) and Horizons NASDAQ-100 Index ETF (HXQ.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, ENB.TO achieves a 22.32% return, which is significantly higher than HXQ.TO's 18.79% return. Over the past 10 years, ENB.TO has underperformed HXQ.TO with an annualized return of 10.61%, while HXQ.TO has yielded a comparatively higher 21.58% annualized return.

ENB.TO

1D
-0.10%
1M
1.05%
6M
23.26%
YTD
22.32%
1Y
35.46%
3Y*
24.24%
5Y*
17.25%
10Y*
10.61%
ALL TIME*
13.76%

HXQ.TO

1D
2.19%
1M
-4.39%
6M
19.18%
YTD
18.79%
1Y
29.97%
3Y*
26.75%
5Y*
17.42%
10Y*
21.58%
ALL TIME*
21.60%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ENB.TO vs. HXQ.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ENB.TO
Enbridge Inc.		22.32%14.09%37.18%-3.28%13.96%29.98%-15.30%29.43%-8.30%-8.84%
HXQ.TO
Horizons NASDAQ-100 Index ETF		18.79%15.05%35.98%51.16%-27.84%26.20%45.58%32.26%6.71%23.12%

Correlation

The correlation between ENB.TO and HXQ.TO is -0.26, 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

-0.26

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

-0.06

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

0.05

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

0.13

Correlation (All Time)
Calculated using the full available price history since Apr 21, 2016

0.13

The correlation between ENB.TO and HXQ.TO shifts across timeframes, from -0.26 (1 year) to 0.13 (10 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Enbridge Inc.

Horizons NASDAQ-100 Index ETF

Often compared with ENB.TO:
ENB.TO vs. CNQ.TOENB.TO vs. PPL.TOENB.TO vs. SU.TOENB.TO vs. WCP.TOENB.TO vs. TRP.TOENB.TO vs. TD.TOENB.TO vs. BCE.TO
Often compared with HXQ.TO:
HXQ.TO vs. QQC.TOHXQ.TO vs. XQQ.TOHXQ.TO vs. VFV.TOHXQ.TO vs. QQQHXQ.TO vs. HXS.TOHXQ.TO vs. ZNQ.TOHXQ.TO vs. QQC-F.TO

Return for Risk

ENB.TO vs. HXQ.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ENB.TO
ENB.TO Risk / Return Rank: 9292
Overall Rank
ENB.TO Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
ENB.TO Sortino Ratio Rank: 9494
Sortino Ratio Rank
ENB.TO Omega Ratio Rank: 9191
Omega Ratio Rank
ENB.TO Calmar Ratio Rank: 9191
Calmar Ratio Rank
ENB.TO Martin Ratio Rank: 9191
Martin Ratio Rank
HXQ.TO
HXQ.TO Risk / Return Rank: 6464
Overall Rank
HXQ.TO Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
HXQ.TO Sortino Ratio Rank: 6363
Sortino Ratio Rank
HXQ.TO Omega Ratio Rank: 6565
Omega Ratio Rank
HXQ.TO Calmar Ratio Rank: 6565
Calmar Ratio Rank
HXQ.TO Martin Ratio Rank: 5858
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.

ENB.TO vs. HXQ.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Enbridge Inc. (ENB.TO) and Horizons NASDAQ-100 Index ETF (HXQ.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.

ENB.TOHXQ.TODifference
Sharpe ratioReturn per unit of total volatility
2.25
1.63

+0.62

Sortino ratioReturn per unit of downside risk
3.18
2.21

+0.98

Omega ratioGain probability vs. loss probability

1.38

1.29

+0.09

Calmar ratioReturn relative to maximum drawdown

3.78

2.42

+1.36

Martin ratioReturn relative to average drawdown

10.01

7.42

+2.60

ENB.TO vs. HXQ.TO - Sharpe Ratio Comparison

The current ENB.TO Sharpe Ratio is 2.25, which is higher than the HXQ.TO Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of ENB.TO and HXQ.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.

Loading charts...

Drawdowns

ENB.TO vs. HXQ.TO - Drawdown Comparison

The maximum ENB.TO drawdown since its inception was -39.47%, which is greater than HXQ.TO's maximum drawdown of -31.60%. Use the drawdown chart below to compare losses from any high point for ENB.TO and HXQ.TO.

Loading charts...

Drawdown Indicators

ENB.TOHXQ.TODifference

Max Drawdown

Largest peak-to-trough decline

-39.47%

-31.60%

-7.87%

Max Drawdown (1Y)

Largest decline over 1 year

-9.42%

-12.43%

+3.01%

Max Drawdown (3Y)

Largest decline over 3 years

-11.56%

-22.58%

+11.02%

Max Drawdown (5Y)

Largest decline over 5 years

-21.38%

-31.60%

+10.22%

Max Drawdown (10Y)

Largest decline over 10 years

-39.47%

-31.60%

-7.87%

Current Drawdown

Current decline from peak

-2.38%

-4.40%

+2.02%

Average Drawdown

Average peak-to-trough decline

-8.35%

-5.71%

-2.64%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.55%

4.05%

-0.50%

Volatility

ENB.TO vs. HXQ.TO - Volatility Comparison

The current volatility for Enbridge Inc. (ENB.TO) is 5.27%, while Horizons NASDAQ-100 Index ETF (HXQ.TO) has a volatility of 7.33%. This indicates that ENB.TO experiences smaller price fluctuations and is considered to be less risky than HXQ.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

ENB.TOHXQ.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.27%

7.33%

-2.06%

Volatility (6M)

Calculated over the trailing 6-month period

12.73%

15.05%

-2.32%

Volatility (1Y)

Calculated over the trailing 1-year period

15.92%

18.45%

-2.53%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.78%

21.21%

-5.43%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.43%

21.03%

+1.40%

Dividends

ENB.TO vs. HXQ.TO - Dividend Comparison

ENB.TO's dividend yield for the trailing twelve months is around 4.89%, while HXQ.TO has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
ENB.TO
Enbridge Inc.		4.89%5.74%6.00%7.44%6.50%6.76%7.96%5.72%6.33%4.91%3.75%4.04%
HXQ.TO
Horizons NASDAQ-100 Index ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

ENB.TO and HXQ.TO have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Portfolio Optimizer

Find the right allocation for ENB.TO and HXQ.TO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer