HQU.TO vs. QQQM

Last updated Jun 4, 2026

HQU.TO (BetaPro NASDAQ-100 2x Daily Bull ETF) and QQQM (Invesco NASDAQ 100 ETF) are both Nasdaq-100 funds. Over the past 5 years, HQU.TO returned 23.89%/yr vs 21.44%/yr for QQQM. Their correlation of 0.90 suggests significant overlap in exposure.

Performance

HQU.TO vs. QQQM - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BetaPro NASDAQ-100 2x Daily Bull ETF (HQU.TO) and Invesco NASDAQ 100 ETF (QQQM). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, HQU.TO achieves a 41.30% return, which is significantly higher than QQQM's 22.94% return.

HQU.TO

• 1D: 0.95%
• 1M: 22.05%
• YTD: 41.30%
• 6M: 36.32%
• 1Y: 81.34%
• 3Y*: 46.99%
• 5Y*: 23.89%
• 10Y*: 33.31%

QQQM

• 1D: 0.21%
• 1M: 12.88%
• YTD: 22.94%
• 6M: 19.29%
• 1Y: 43.81%
• 3Y*: 30.39%
• 5Y*: 21.44%
• 10Y*: —

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

HQU.TO vs. QQQM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
HQU.TO BetaPro NASDAQ-100 2x Daily Bull ETF	41.30%	26.77%	40.01%	114.00%	-61.73%	52.20%	12.20%
QQQM Invesco NASDAQ 100 ETF	22.94%	15.31%	36.48%	51.60%	-27.71%	26.30%	3.58%

Correlation

The correlation between HQU.TO and QQQM is 0.85, 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	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Oct 14, 2020	0.90

The correlation between HQU.TO and QQQM has been stable across timeframes, ranging from 0.85 to 0.90 - a consistent structural relationship.

HQU.TO vs. QQQM - Sectors Allocation Comparison

Sectors	HQU.TO	QQQM
Technology	52.7%	53.8%
Communication Services	15.2%	15.8%
Consumer Cyclical	14.3%	12.3%
Consumer Defensive	5.5%	7.7%
Healthcare	5.0%	4.2%
Industrials	3.5%	2.8%
Basic Materials	1.3%	1.1%
Utilities	1.2%	1.4%
Energy	0.6%	0.6%
Financial Services	0.5%	0.2%
Real Estate	0.2%	0.1%

Return for Risk

HQU.TO vs. QQQM — Risk / Return Rank

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

HQU.TO

HQU.TO Risk / Return Rank: 70
HQU.TO Sharpe Ratio Rank: 82
HQU.TO Sortino Ratio Rank: 70
HQU.TO Omega Ratio Rank: 69
HQU.TO Calmar Ratio Rank: 67
HQU.TO Martin Ratio Rank: 63

QQQM

QQQM Risk / Return Rank: 74
QQQM Sharpe Ratio Rank: 80
QQQM Sortino Ratio Rank: 75
QQQM Omega Ratio Rank: 75
QQQM Calmar Ratio Rank: 69
QQQM Martin Ratio Rank: 71

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.

HQU.TO vs. QQQM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BetaPro NASDAQ-100 2x Daily Bull ETF (HQU.TO) 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.

	HQU.TO	QQQM	Difference
Sharpe ratio: Return per unit of total volatility	2.66	2.82	-0.16
Sortino ratio: Return per unit of downside risk	3.15	3.66	-0.51
Omega ratio: Gain probability vs. loss probability	1.41	1.50	-0.09
Calmar ratio: Return relative to maximum drawdown	3.27	3.59	-0.31
Martin ratio: Return relative to average drawdown	11.20	11.44	-0.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HQU.TO vs. QQQM - Sharpe Ratio Comparison

The current HQU.TO Sharpe Ratio is 2.66, which is comparable to the QQQM Sharpe Ratio of 2.82. The chart below compares the historical Sharpe Ratios of HQU.TO and QQQM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HQU.TO	QQQM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.66	2.82	-0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	1.05	-0.51
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.75	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.06	0.97	-0.91

Drawdowns

HQU.TO vs. QQQM - Drawdown Comparison

The maximum HQU.TO drawdown since its inception was -95.76%, which is greater than QQQM's maximum drawdown of -31.71%. Use the drawdown chart below to compare losses from any high point for HQU.TO and QQQM.

Drawdown Indicators

	HQU.TO	QQQM	Difference
Max Drawdown Largest peak-to-trough decline	-95.76%	-31.71%	-64.05%
Max Drawdown (1Y) Largest decline over 1 year	-25.85%	-12.27%	-13.58%
Max Drawdown (3Y) Largest decline over 3 years	-43.00%	-22.52%	-20.48%
Max Drawdown (5Y) Largest decline over 5 years	-64.83%	-31.71%	-33.12%
Max Drawdown (10Y) Largest decline over 10 years	-64.83%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-55.29%	-7.58%	-47.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.54%	3.84%	+3.70%

Volatility

HQU.TO vs. QQQM - Volatility Comparison

BetaPro NASDAQ-100 2x Daily Bull ETF (HQU.TO) has a higher volatility of 9.22% compared to Invesco NASDAQ 100 ETF (QQQM) at 4.41%. This indicates that HQU.TO's price experiences larger fluctuations and is considered to be riskier than QQQM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HQU.TO	QQQM	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.22%	4.41%	+4.81%
Volatility (6M) Calculated over the trailing 6-month period	24.33%	11.79%	+12.54%
Volatility (1Y) Calculated over the trailing 1-year period	31.85%	15.61%	+16.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.90%	20.58%	+24.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.87%	20.48%	+24.39%

Dividends

HQU.TO vs. QQQM - Dividend Comparison

HQU.TO has not paid dividends to shareholders, while QQQM's dividend yield for the trailing twelve months is around 0.41%.

Position	TTM	2025	2024	2023	2022	2021	2020
HQU.TO BetaPro NASDAQ-100 2x Daily Bull ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QQQM Invesco NASDAQ 100 ETF	0.41%	0.50%	0.61%	0.65%	0.83%	0.40%	0.16%

Frequently Asked Questions

Can I hold both HQU.TO and QQQM in my portfolio?

HQU.TO and QQQM have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between HQU.TO and QQQM?

They also come from different issuers: Global X and Invesco.