PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
FEZ vs. XQQ.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FEZ vs. XQQ.TO

Last updated Jun 9, 2026

FEZ (SPDR EURO STOXX 50 ETF) and XQQ.TO (iShares NASDAQ 100 Index ETF (CAD-Hedged)) are both exchange-traded funds - FEZ is a Europe Equities fund tracking the EURO STOXX 50 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, FEZ returned 10.66%/yr vs 18.92%/yr for XQQ.TO. A 0.53 correlation means they provide meaningful diversification when combined. FEZ charges 0.29%/yr vs 0.39%/yr for XQQ.TO.

Performance

FEZ vs. XQQ.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR EURO STOXX 50 ETF (FEZ) and iShares NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Different Trading Currencies

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

Returns By Period

In the year-to-date period, FEZ achieves a 4.68% return, which is significantly lower than XQQ.TO's 13.12% return. Over the past 10 years, FEZ has underperformed XQQ.TO with an annualized return of 10.66%, while XQQ.TO has yielded a comparatively higher 18.92% annualized return.

FEZ

1D
0.63%
1M
0.33%
YTD
4.68%
6M
6.49%
1Y
15.20%
3Y*
17.76%
5Y*
9.78%
10Y*
10.66%

XQQ.TO

1D
1.15%
1M
-1.40%
YTD
13.12%
6M
10.11%
1Y
27.06%
3Y*
22.58%
5Y*
11.15%
10Y*
18.92%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FEZ vs. XQQ.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FEZ
SPDR EURO STOXX 50 ETF		4.68%37.81%3.57%27.16%-14.27%14.84%4.84%26.04%-15.85%24.80%
XQQ.TO
iShares NASDAQ 100 Index ETF (CAD-Hedged)		13.12%21.31%14.96%56.99%-37.11%22.83%49.67%44.89%-8.97%43.10%

Correlation

The correlation between FEZ and XQQ.TO is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.62

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

0.57

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

0.62

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

0.58

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

0.53

The correlation between FEZ and XQQ.TO has been stable across timeframes, ranging from 0.53 to 0.62 - a consistent structural relationship.

FEZ vs. XQQ.TO - Sectors Allocation Comparison

Sectors
FEZ
XQQ.TO

Financial Services

25.1%
0.2%

Industrials

22.1%
3.1%

Technology

16.1%
53.7%

Consumer Cyclical

9.8%
12.2%

Consumer Defensive

5.5%
7.7%

Healthcare

5.4%
4.2%

Energy

5.2%
0.6%

Utilities

4.8%
1.4%

Basic Materials

3.7%
1.1%

Communication Services

2.3%
15.8%

Real Estate

-

0.1%

Financial Services

FEZ
25.1%
XQQ.TO
0.2%

Industrials

FEZ
22.1%
XQQ.TO
3.1%

Technology

FEZ
16.1%
XQQ.TO
53.7%

Consumer Cyclical

FEZ
9.8%
XQQ.TO
12.2%

Consumer Defensive

FEZ
5.5%
XQQ.TO
7.7%

Healthcare

FEZ
5.4%
XQQ.TO
4.2%

Energy

FEZ
5.2%
XQQ.TO
0.6%

Utilities

FEZ
4.8%
XQQ.TO
1.4%

Basic Materials

FEZ
3.7%
XQQ.TO
1.1%

Communication Services

FEZ
2.3%
XQQ.TO
15.8%

Real Estate

FEZ

-

XQQ.TO
0.1%

Compare stocks, funds, or ETFs

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

SPDR EURO STOXX 50 ETF

iShares NASDAQ 100 Index ETF (CAD-Hedged)

Often compared with FEZ:
FEZ vs. VGKFEZ vs. IEURFEZ vs. EZUFEZ vs. IEVFEZ vs. VOOFEZ vs. EWQFEZ vs. EWN
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

FEZ vs. XQQ.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FEZ
FEZ Risk / Return Rank: 2626
Overall Rank
FEZ Sharpe Ratio Rank: 2626
Sharpe Ratio Rank
FEZ Sortino Ratio Rank: 2525
Sortino Ratio Rank
FEZ Omega Ratio Rank: 2525
Omega Ratio Rank
FEZ Calmar Ratio Rank: 2626
Calmar Ratio Rank
FEZ Martin Ratio Rank: 2929
Martin Ratio Rank
XQQ.TO
XQQ.TO Risk / Return Rank: 5151
Overall Rank
XQQ.TO Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
XQQ.TO Sortino Ratio Rank: 5353
Sortino Ratio Rank
XQQ.TO Omega Ratio Rank: 5656
Omega Ratio Rank
XQQ.TO Calmar Ratio Rank: 4545
Calmar Ratio Rank
XQQ.TO Martin Ratio Rank: 4545
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.

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

This table presents a comparison of risk-adjusted performance metrics for SPDR EURO STOXX 50 ETF (FEZ) 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.

FEZXQQ.TODifference
Sharpe ratioReturn per unit of total volatility
0.84
1.54

-0.70

Sortino ratioReturn per unit of downside risk
1.29
2.04

-0.75

Omega ratioGain probability vs. loss probability

1.16

1.28

-0.12

Calmar ratioReturn relative to maximum drawdown

1.12

1.88

-0.76

Martin ratioReturn relative to average drawdown

3.81

7.01

-3.20

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

FEZ vs. XQQ.TO - Sharpe Ratio Comparison

The current FEZ Sharpe Ratio is 0.84, which is lower than the XQQ.TO Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of FEZ 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.

Loading charts...

Sharpe Ratios by Period

FEZXQQ.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.84

1.54

-0.70

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.48

0.48

0.00

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.51

0.81

-0.31

Sharpe Ratio (All Time)

Calculated using the full available price history

0.30

0.67

-0.37

Drawdowns

FEZ vs. XQQ.TO - Drawdown Comparison

The maximum FEZ drawdown since its inception was -64.21%, which is greater than XQQ.TO's maximum drawdown of -43.53%. Use the drawdown chart below to compare losses from any high point for FEZ and XQQ.TO.

Loading charts...

Drawdown Indicators

FEZXQQ.TODifference

Max Drawdown

Largest peak-to-trough decline

-64.21%

-43.53%

-20.68%

Max Drawdown (1Y)

Largest decline over 1 year

-13.63%

-14.43%

+0.80%

Max Drawdown (3Y)

Largest decline over 3 years

-15.85%

-22.99%

+7.14%

Max Drawdown (5Y)

Largest decline over 5 years

-35.05%

-43.53%

+8.48%

Max Drawdown (10Y)

Largest decline over 10 years

-39.69%

-43.53%

+3.84%

Current Drawdown

Current decline from peak

-2.79%

-4.84%

+2.05%

Average Drawdown

Average peak-to-trough decline

-17.07%

-7.80%

-9.27%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.00%

3.87%

+0.13%

Volatility

FEZ vs. XQQ.TO - Volatility Comparison

The current volatility for SPDR EURO STOXX 50 ETF (FEZ) is 5.64%, while iShares NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.TO) has a volatility of 6.70%. This indicates that FEZ 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.

Loading charts...

Volatility by Period

FEZXQQ.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.64%

6.70%

-1.06%

Volatility (6M)

Calculated over the trailing 6-month period

15.06%

13.80%

+1.26%

Volatility (1Y)

Calculated over the trailing 1-year period

18.11%

17.63%

+0.48%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.64%

23.44%

-2.80%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.12%

23.38%

-2.26%

FEZ vs. XQQ.TO - Expense Ratio Comparison

FEZ has a 0.29% expense ratio, which is lower than XQQ.TO's 0.39% expense ratio.

Dividends

FEZ vs. XQQ.TO - Dividend Comparison

FEZ's dividend yield for the trailing twelve months is around 2.58%, more than XQQ.TO's 0.22% yield.

PositionTTM20252024202320222021202020192018201720162015
FEZ
SPDR EURO STOXX 50 ETF		2.58%2.78%2.94%2.75%3.06%2.61%2.13%2.61%3.45%2.44%3.35%3.03%
XQQ.TO
iShares NASDAQ 100 Index ETF (CAD-Hedged)		0.22%0.25%0.67%0.93%1.27%0.52%0.80%1.44%1.61%1.64%2.35%1.93%

Frequently Asked Questions

FEZ and XQQ.TO have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, FEZ is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

FEZ is cheaper with a 0.29% expense ratio, compared with 0.39% for XQQ.TO.

FEZ is categorized as Europe Equities, while XQQ.TO is Nasdaq-100. FEZ tracks EURO STOXX 50 Index, while XQQ.TO tracks Morningstar US Market TR CAD. They also come from different issuers: State Street and iShares. Their fees differ too: 0.29% for FEZ and 0.39% for XQQ.TO.

Portfolio Optimizer

Find the right allocation for FEZ and XQQ.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