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HXQ.TO vs. BDT.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HXQ.TO vs. BDT.TO

Last updated Jun 4, 2026

HXQ.TO (Horizons NASDAQ-100 Index ETF) is Nasdaq-100 fund tracking the NASDAQ-100 Index, while BDT.TO (Bird Construction Inc.) is a stock. Over the past 10 years, HXQ.TO returned 22.59%/yr vs 22.17%/yr for BDT.TO. At a 0.26 correlation, their price movements are largely independent.

Performance

HXQ.TO vs. BDT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Horizons NASDAQ-100 Index ETF (HXQ.TO) and Bird Construction Inc. (BDT.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, HXQ.TO achieves a 22.84% return, which is significantly lower than BDT.TO's 121.77% return. Both investments have delivered pretty close results over the past 10 years, with HXQ.TO having a 22.59% annualized return and BDT.TO not far behind at 22.17%.

HXQ.TO

1D
0.25%
1M
13.01%
YTD
22.84%
6M
19.20%
1Y
43.40%
3Y*
30.08%
5Y*
21.13%
10Y*
22.59%

BDT.TO

1D
1.85%
1M
15.10%
YTD
121.77%
6M
139.26%
1Y
136.10%
3Y*
101.02%
5Y*
50.93%
10Y*
22.17%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HXQ.TO vs. BDT.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HXQ.TO
Horizons NASDAQ-100 Index ETF		22.84%15.05%35.98%51.16%-27.84%26.20%45.58%32.26%6.71%23.12%
BDT.TO
Bird Construction Inc.		121.77%13.11%85.70%85.30%-12.91%28.13%19.30%24.68%-36.48%16.80%

Correlation

The correlation between HXQ.TO and BDT.TO is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.27

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

0.32

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

0.34

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

0.27

Correlation (All Time)
Calculated using the full available price history since Apr 22, 2016

0.26

Compare stocks, funds, or ETFs

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Horizons NASDAQ-100 Index ETF

Bird Construction Inc.

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Often compared with BDT.TO:
BDT.TO vs. ARE.TOBDT.TO vs. BDGI.TOBDT.TO vs. KBHBDT.TO vs. CEU.TOBDT.TO vs. ITBBDT.TO vs. QSR.TOBDT.TO vs. XOM

Return for Risk

HXQ.TO vs. BDT.TO — 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: 7575
Overall Rank
HXQ.TO Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
HXQ.TO Sortino Ratio Rank: 8080
Sortino Ratio Rank
HXQ.TO Omega Ratio Rank: 8080
Omega Ratio Rank
HXQ.TO Calmar Ratio Rank: 6969
Calmar Ratio Rank
HXQ.TO Martin Ratio Rank: 6262
Martin Ratio Rank
BDT.TO
BDT.TO Risk / Return Rank: 9494
Overall Rank
BDT.TO Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
BDT.TO Sortino Ratio Rank: 9393
Sortino Ratio Rank
BDT.TO Omega Ratio Rank: 9595
Omega Ratio Rank
BDT.TO Calmar Ratio Rank: 9292
Calmar Ratio Rank
BDT.TO Martin Ratio Rank: 9494
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.

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

This table presents a comparison of risk-adjusted performance metrics for Horizons NASDAQ-100 Index ETF (HXQ.TO) and Bird Construction Inc. (BDT.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.

HXQ.TOBDT.TODifference
Sharpe ratioReturn per unit of total volatility
2.80
3.39

-0.59

Sortino ratioReturn per unit of downside risk
3.65
3.67

-0.02

Omega ratioGain probability vs. loss probability

1.49

1.58

-0.09

Calmar ratioReturn relative to maximum drawdown

3.51

5.43

-1.92

Martin ratioReturn relative to average drawdown

11.28

16.82

-5.53

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. BDT.TO - Sharpe Ratio Comparison

The current HXQ.TO Sharpe Ratio is 2.80, which is comparable to the BDT.TO Sharpe Ratio of 3.39. The chart below compares the historical Sharpe Ratios of HXQ.TO and BDT.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.

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Sharpe Ratios by Period

HXQ.TOBDT.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.80

3.39

-0.59

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.02

1.48

-0.45

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

1.09

0.66

+0.43

Sharpe Ratio (All Time)

Calculated using the full available price history

1.08

0.43

+0.65

Drawdowns

HXQ.TO vs. BDT.TO - Drawdown Comparison

The maximum HXQ.TO drawdown since its inception was -31.60%, smaller than the maximum BDT.TO drawdown of -75.33%. Use the drawdown chart below to compare losses from any high point for HXQ.TO and BDT.TO.

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Drawdown Indicators

HXQ.TOBDT.TODifference

Max Drawdown

Largest peak-to-trough decline

-31.60%

-75.33%

+43.73%

Max Drawdown (1Y)

Largest decline over 1 year

-12.43%

-25.20%

+12.77%

Max Drawdown (3Y)

Largest decline over 3 years

-22.58%

-42.63%

+20.05%

Max Drawdown (5Y)

Largest decline over 5 years

-31.60%

-42.79%

+11.19%

Max Drawdown (10Y)

Largest decline over 10 years

-31.60%

-64.15%

+32.55%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-5.75%

-24.95%

+19.20%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.86%

8.12%

-4.26%

Volatility

HXQ.TO vs. BDT.TO - Volatility Comparison

The current volatility for Horizons NASDAQ-100 Index ETF (HXQ.TO) is 4.63%, while Bird Construction Inc. (BDT.TO) has a volatility of 17.72%. This indicates that HXQ.TO experiences smaller price fluctuations and is considered to be less risky than BDT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HXQ.TOBDT.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.63%

17.72%

-13.09%

Volatility (6M)

Calculated over the trailing 6-month period

11.81%

27.00%

-15.19%

Volatility (1Y)

Calculated over the trailing 1-year period

15.62%

40.42%

-24.80%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.76%

34.67%

-13.91%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.83%

33.91%

-13.08%

Dividends

HXQ.TO vs. BDT.TO - Dividend Comparison

HXQ.TO has not paid dividends to shareholders, while BDT.TO's dividend yield for the trailing twelve months is around 1.34%.

PositionTTM20252024202320222021202020192018201720162015
BDT.TO
Bird Construction Inc.		1.34%2.95%2.26%2.96%4.88%4.03%4.95%5.54%6.48%3.91%8.34%5.82%
HXQ.TO
Horizons NASDAQ-100 Index ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

HXQ.TO and BDT.TO have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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