HXQ.TO vs. AVDV

Last updated Jun 9, 2026

HXQ.TO (Horizons NASDAQ-100 Index ETF) and AVDV (Avantis International Small Cap Value ETF) are both exchange-traded funds - HXQ.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while AVDV is a Foreign Small & Mid Cap Equities fund actively managed by Avantis. HXQ.TO is passively managed, while AVDV is actively managed. Over the past 5 years, HXQ.TO returned 20.09%/yr vs 16.56%/yr for AVDV. At a 0.40 correlation, their price movements are largely independent. HXQ.TO charges 0.25%/yr vs 0.36%/yr for AVDV.

Performance

HXQ.TO vs. AVDV - Performance Comparison

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

Different Trading Currencies

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

Returns By Period

In the year-to-date period, HXQ.TO achieves a 18.52% return, which is significantly higher than AVDV's 15.25% return.

HXQ.TO

• 1D: 1.44%
• 1M: 2.69%
• YTD: 18.52%
• 6M: 15.98%
• 1Y: 38.04%
• 3Y*: 28.80%
• 5Y*: 20.09%
• 10Y*: 22.16%

AVDV

• 1D: 0.50%
• 1M: -0.95%
• YTD: 15.25%
• 6M: 17.17%
• 1Y: 42.96%
• 3Y*: 28.41%
• 5Y*: 16.56%
• 10Y*: —

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

HXQ.TO vs. AVDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
HXQ.TO Horizons NASDAQ-100 Index ETF	18.52%	15.05%	35.98%	51.16%	-27.84%	26.20%	45.58%	10.11%
AVDV Avantis International Small Cap Value ETF	15.29%	42.55%	17.87%	14.07%	-5.86%	15.74%	2.51%	10.39%

Correlation

The correlation between HXQ.TO and AVDV is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (All Time) Calculated using the full available price history since Sep 27, 2019	0.40

HXQ.TO vs. AVDV - Sectors Allocation Comparison

Sectors	HXQ.TO	AVDV
Technology	55.9%	6.4%
Communication Services	15.8%	2.0%
Consumer Cyclical	13.2%	14.4%
Healthcare	4.4%	2.1%
Consumer Defensive	4.4%	3.4%
Industrials	3.1%	21.3%
Utilities	1.4%	1.7%
Basic Materials	1.0%	22.5%
Energy	0.5%	10.8%
Financial Services	0.3%	13.7%
Real Estate	0.2%	1.1%

Return for Risk

HXQ.TO vs. AVDV — Risk / Return Rank

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

HXQ.TO

HXQ.TO Risk / Return Rank: 73
HXQ.TO Sharpe Ratio Rank: 81
HXQ.TO Sortino Ratio Rank: 75
HXQ.TO Omega Ratio Rank: 79
HXQ.TO Calmar Ratio Rank: 68
HXQ.TO Martin Ratio Rank: 61

AVDV

AVDV Risk / Return Rank: 79
AVDV Sharpe Ratio Rank: 86
AVDV Sortino Ratio Rank: 83
AVDV Omega Ratio Rank: 84
AVDV Calmar Ratio Rank: 67
AVDV 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.

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

This table presents a comparison of risk-adjusted performance metrics for Horizons NASDAQ-100 Index ETF (HXQ.TO) and Avantis International Small Cap Value ETF (AVDV). 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.

	HXQ.TO	AVDV	Difference
Sharpe ratio: Return per unit of total volatility	2.35	2.68	-0.32
Sortino ratio: Return per unit of downside risk	3.03	3.50	-0.48
Omega ratio: Gain probability vs. loss probability	1.42	1.47	-0.05
Calmar ratio: Return relative to maximum drawdown	3.08	3.37	-0.29
Martin ratio: Return relative to average drawdown	9.84	13.91	-4.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HXQ.TO vs. AVDV - Sharpe Ratio Comparison

The current HXQ.TO Sharpe Ratio is 2.35, which is comparable to the AVDV Sharpe Ratio of 2.68. The chart below compares the historical Sharpe Ratios of HXQ.TO and AVDV, 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

	HXQ.TO	AVDV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.35	2.68	-0.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.97	0.92	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.07	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.06	0.79	+0.26

Drawdowns

HXQ.TO vs. AVDV - Drawdown Comparison

The maximum HXQ.TO drawdown since its inception was -31.60%, smaller than the maximum AVDV drawdown of -37.43%. Use the drawdown chart below to compare losses from any high point for HXQ.TO and AVDV.

Drawdown Indicators

	HXQ.TO	AVDV	Difference
Max Drawdown Largest peak-to-trough decline	-31.60%	-37.43%	+5.83%
Max Drawdown (1Y) Largest decline over 1 year	-12.43%	-12.81%	+0.38%
Max Drawdown (3Y) Largest decline over 3 years	-22.58%	-14.53%	-8.05%
Max Drawdown (5Y) Largest decline over 5 years	-31.60%	-22.53%	-9.07%
Max Drawdown (10Y) Largest decline over 10 years	-31.60%	—	—
Current Drawdown Current decline from peak	-3.52%	-2.80%	-0.72%
Average Drawdown Average peak-to-trough decline	-5.75%	-5.02%	-0.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.88%	3.10%	+0.78%

Volatility

HXQ.TO vs. AVDV - Volatility Comparison

Horizons NASDAQ-100 Index ETF (HXQ.TO) has a higher volatility of 6.67% compared to Avantis International Small Cap Value ETF (AVDV) at 5.70%. This indicates that HXQ.TO's price experiences larger fluctuations and is considered to be riskier than AVDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HXQ.TO	AVDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.67%	5.70%	+0.97%
Volatility (6M) Calculated over the trailing 6-month period	12.75%	13.84%	-1.09%
Volatility (1Y) Calculated over the trailing 1-year period	16.27%	16.16%	+0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.85%	18.19%	+2.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.89%	20.44%	+0.45%

HXQ.TO vs. AVDV - Expense Ratio Comparison

HXQ.TO has a 0.25% expense ratio, which is lower than AVDV's 0.36% expense ratio.

Dividends

HXQ.TO vs. AVDV - Dividend Comparison

HXQ.TO has not paid dividends to shareholders, while AVDV's dividend yield for the trailing twelve months is around 2.81%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AVDV Avantis International Small Cap Value ETF	2.81%	3.05%	4.31%	3.29%	3.17%	2.39%	1.67%	0.36%
HXQ.TO Horizons NASDAQ-100 Index ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HXQ.TO and AVDV in my portfolio?

HXQ.TO and AVDV have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HXQ.TO or AVDV?

On fees, HXQ.TO is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HXQ.TO or AVDV?

HXQ.TO is cheaper with a 0.25% expense ratio, compared with 0.36% for AVDV.

What is the main difference between HXQ.TO and AVDV?

HXQ.TO is categorized as Nasdaq-100, while AVDV is Foreign Small & Mid Cap Equities. They also come from different issuers: Horizons and Avantis. Their fees differ too: 0.25% for HXQ.TO and 0.36% for AVDV.