FXC vs. QQQM

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco CurrencyShares® Canadian Dollar Trust (FXC) and Invesco NASDAQ 100 ETF (QQQM).

FXC and QQQM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FXC is a passively managed fund by Invesco that tracks the performance of the Canadian Dollar. It was launched on Jun 26, 2006. QQQM is a passively managed fund by Invesco that tracks the performance of the NASDAQ-100 Index. It was launched on Oct 13, 2020. Both FXC and QQQM are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

FXC vs. QQQM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco CurrencyShares® Canadian Dollar Trust (FXC) and Invesco NASDAQ 100 ETF (QQQM). The values are adjusted to include any dividend payments, if applicable.

FXC vs. QQQM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FXC Invesco CurrencyShares® Canadian Dollar Trust	-1.29%	5.24%	-5.96%	4.35%	-6.44%	0.22%	3.19%
QQQM Invesco NASDAQ 100 ETF	-5.92%	20.85%	25.68%	55.01%	-32.52%	27.45%	6.67%

Returns By Period

In the year-to-date period, FXC achieves a -1.29% return, which is significantly higher than QQQM's -5.92% return.

FXC

• 1D: 0.04%
• 1M: -1.92%
• YTD: -1.29%
• 6M: 0.06%
• 1Y: 3.69%
• 3Y*: 0.42%
• 5Y*: -1.15%
• 10Y*: -0.16%

QQQM

• 1D: 3.37%
• 1M: -4.84%
• YTD: -5.92%
• 6M: -3.59%
• 1Y: 23.76%
• 3Y*: 22.41%
• 5Y*: 12.96%
• 10Y*: —

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

FXC vs. QQQM - Expense Ratio Comparison

FXC has a 0.40% expense ratio, which is higher than QQQM's 0.15% expense ratio.

FXC

Invesco CurrencyShares® Canadian Dollar Trust

QQQM

Invesco NASDAQ 100 ETF

Return for Risk

FXC vs. QQQM — Risk / Return Rank

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

FXC

FXC Risk / Return Rank: 33
FXC Sharpe Ratio Rank: 37
FXC Sortino Ratio Rank: 40
FXC Omega Ratio Rank: 32
FXC Calmar Ratio Rank: 34
FXC Martin Ratio Rank: 24

QQQM

QQQM Risk / Return Rank: 70
QQQM Sharpe Ratio Rank: 64
QQQM Sortino Ratio Rank: 69
QQQM Omega Ratio Rank: 68
QQQM Calmar Ratio Rank: 76
QQQM Martin Ratio Rank: 73

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.

FXC vs. QQQM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® Canadian Dollar Trust (FXC) and Invesco NASDAQ 100 ETF (QQQM). 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.

	FXC	QQQM	Difference
Sharpe ratio Return per unit of total volatility	0.68	1.06	-0.38
Sortino ratio Return per unit of downside risk	1.12	1.65	-0.53
Omega ratio Gain probability vs. loss probability	1.13	1.24	-0.11
Calmar ratio Return relative to maximum drawdown	0.84	1.89	-1.05
Martin ratio Return relative to average drawdown	1.72	6.96	-5.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FXC vs. QQQM - Sharpe Ratio Comparison

The current FXC Sharpe Ratio is 0.68, which is lower than the QQQM Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of FXC and QQQM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FXC	QQQM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.68	1.06	-0.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.18	0.59	-0.77
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.02	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.05	0.63	-0.68

Correlation

The correlation between FXC and QQQM is 0.36, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

FXC vs. QQQM - Dividend Comparison

FXC's dividend yield for the trailing twelve months is around 0.37%, less than QQQM's 0.53% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXC Invesco CurrencyShares® Canadian Dollar Trust	0.37%	0.55%	2.23%	2.01%	0.31%	0.00%	0.19%	0.75%	0.42%	0.02%	0.00%	0.02%
QQQM Invesco NASDAQ 100 ETF	0.53%	0.50%	0.61%	0.65%	0.83%	0.40%	0.16%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

FXC vs. QQQM - Drawdown Comparison

The maximum FXC drawdown since its inception was -35.39%, roughly equal to the maximum QQQM drawdown of -35.04%. Use the drawdown chart below to compare losses from any high point for FXC and QQQM.

Drawdown Indicators

	FXC	QQQM	Difference
Max Drawdown Largest peak-to-trough decline	-35.39%	-35.04%	-0.35%
Max Drawdown (1Y) Largest decline over 1 year	-3.78%	-12.55%	+8.77%
Max Drawdown (5Y) Largest decline over 5 years	-13.86%	-35.04%	+21.18%
Max Drawdown (10Y) Largest decline over 10 years	-15.46%	—	—
Current Drawdown Current decline from peak	-28.96%	-8.99%	-19.97%
Average Drawdown Average peak-to-trough decline	-19.84%	-8.47%	-11.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.83%	3.41%	-1.58%

Volatility

FXC vs. QQQM - Volatility Comparison

The current volatility for Invesco CurrencyShares® Canadian Dollar Trust (FXC) is 1.29%, while Invesco NASDAQ 100 ETF (QQQM) has a volatility of 6.48%. This indicates that FXC experiences smaller price fluctuations and is considered to be less risky than QQQM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FXC	QQQM	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.29%	6.48%	-5.19%
Volatility (6M) Calculated over the trailing 6-month period	3.31%	12.73%	-9.42%
Volatility (1Y) Calculated over the trailing 1-year period	5.47%	22.42%	-16.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.43%	22.25%	-15.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.76%	22.27%	-15.51%