HEQQ vs. QQQX.TO
HEQQ (JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF) and QQQX.TO (Global X Nasdaq-100 Index ETF) are both Nasdaq-100 funds. Over the past year, HEQQ returned 16.57% vs 40.73% for QQQX.TO. Their correlation of 0.83 suggests significant overlap in exposure. HEQQ charges 0.50%/yr vs 0.15%/yr for QQQX.TO.
Performance
HEQQ vs. QQQX.TO - Performance Comparison
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Different Trading Currencies
HEQQ is traded in USD, while QQQX.TO is traded in CAD. To make them comparable, the QQQX.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, HEQQ achieves a 4.36% return, which is significantly lower than QQQX.TO's 21.05% return.
HEQQ
- 1D
- -0.29%
- 1M
- 0.32%
- YTD
- 4.36%
- 6M
- 4.07%
- 1Y
- 16.57%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QQQX.TO
- 1D
- -0.32%
- 1M
- 8.94%
- YTD
- 21.05%
- 6M
- 19.48%
- 1Y
- 40.73%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HEQQ vs. QQQX.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HEQQ JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF | 4.36% | 17.20% |
QQQX.TO Global X Nasdaq-100 Index ETF | 21.05% | 27.78% |
Correlation
The correlation between HEQQ and QQQX.TO is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2025 | 0.83 |
The correlation between HEQQ and QQQX.TO has been stable across timeframes, ranging from 0.82 to 0.83 - a consistent structural relationship.
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Return for Risk
HEQQ vs. QQQX.TO — Risk / Return Rank
HEQQ
QQQX.TO
HEQQ vs. QQQX.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF (HEQQ) and Global X Nasdaq-100 Index ETF (QQQX.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.
| HEQQ | QQQX.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.43 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | 3.43 | -1.25 |
| Martin ratioReturn relative to average drawdown | 8.59 | 13.05 | -4.46 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HEQQ | QQQX.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.04 | 2.49 | -0.44 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.71 | 1.33 | +0.38 |
Drawdowns
HEQQ vs. QQQX.TO - Drawdown Comparison
The maximum HEQQ drawdown since its inception was -7.64%, smaller than the maximum QQQX.TO drawdown of -22.77%. Use the drawdown chart below to compare losses from any high point for HEQQ and QQQX.TO.
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Drawdown Indicators
| HEQQ | QQQX.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.64% | -22.77% | +15.13% |
Max Drawdown (1Y)Largest decline over 1 year | -7.64% | -11.94% | +4.30% |
Current DrawdownCurrent decline from peak | -0.84% | -0.44% | -0.40% |
Average DrawdownAverage peak-to-trough decline | -1.11% | -3.57% | +2.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.93% | 3.13% | -1.20% |
Volatility
HEQQ vs. QQQX.TO - Volatility Comparison
The current volatility for JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF (HEQQ) is 1.33%, while Global X Nasdaq-100 Index ETF (QQQX.TO) has a volatility of 4.88%. This indicates that HEQQ experiences smaller price fluctuations and is considered to be less risky than QQQX.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HEQQ | QQQX.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.33% | 4.88% | -3.55% |
Volatility (6M)Calculated over the trailing 6-month period | 6.63% | 12.39% | -5.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.14% | 16.47% | -8.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.87% | 21.26% | -10.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.87% | 21.26% | -10.39% |
HEQQ vs. QQQX.TO - Expense Ratio Comparison
HEQQ has a 0.50% expense ratio, which is higher than QQQX.TO's 0.15% expense ratio.
Dividends
HEQQ vs. QQQX.TO - Dividend Comparison
HEQQ's dividend yield for the trailing twelve months is around 0.19%, less than QQQX.TO's 0.29% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
HEQQ JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF | 0.19% | 0.19% | 0.00% |
QQQX.TO Global X Nasdaq-100 Index ETF | 0.29% | 0.35% | 0.14% |
Frequently Asked Questions
HEQQ and QQQX.TO have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, QQQX.TO is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
QQQX.TO is cheaper with a 0.15% expense ratio, compared with 0.50% for HEQQ.
They also come from different issuers: JPMorgan and Global X. Their fees differ too: 0.50% for HEQQ and 0.15% for QQQX.TO.
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