HXQ.TO vs. CMR.TO
HXQ.TO (Horizons NASDAQ-100 Index ETF) and CMR.TO (iShares Premium Money Market ETF) are both exchange-traded funds - HXQ.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while CMR.TO is a Money Market fund actively managed by iShares. HXQ.TO is passively managed, while CMR.TO is actively managed. Over the past 10 years, HXQ.TO returned 22.49%/yr vs 1.92%/yr for CMR.TO. At a 0.03 correlation, their price movements are largely independent. HXQ.TO charges 0.25%/yr vs 0.13%/yr for CMR.TO.
Performance
HXQ.TO vs. CMR.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HXQ.TO achieves a 20.53% return, which is significantly higher than CMR.TO's 1.11% return. Over the past 10 years, HXQ.TO has outperformed CMR.TO with an annualized return of 22.49%, while CMR.TO has yielded a comparatively lower 1.92% annualized return.
HXQ.TO
- 1D
- -2.86%
- 1M
- 2.47%
- YTD
- 20.53%
- 6M
- 19.26%
- 1Y
- 39.36%
- 3Y*
- 29.01%
- 5Y*
- 19.15%
- 10Y*
- 22.49%
CMR.TO
- 1D
- 0.00%
- 1M
- 0.18%
- YTD
- 1.11%
- 6M
- 1.17%
- 1Y
- 2.49%
- 3Y*
- 3.74%
- 5Y*
- 2.99%
- 10Y*
- 1.92%
HXQ.TO vs. CMR.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HXQ.TO Horizons NASDAQ-100 Index ETF | 20.53% | 15.05% | 35.98% | 51.16% | -27.84% | 26.20% | 45.58% | 32.26% | 6.71% | 23.12% |
CMR.TO iShares Premium Money Market ETF | 1.11% | 2.78% | 4.70% | 4.70% | 1.72% | 0.00% | 0.47% | 1.63% | 1.29% | 0.63% |
Correlation
The correlation between HXQ.TO and CMR.TO is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Apr 21, 2016 | 0.03 |
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Return for Risk
HXQ.TO vs. CMR.TO — Risk / Return Rank
HXQ.TO
CMR.TO
HXQ.TO vs. CMR.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Horizons NASDAQ-100 Index ETF (HXQ.TO) and iShares Premium Money Market ETF (CMR.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| HXQ.TO | CMR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -10.05 | ||
| Sortino ratioReturn per unit of downside risk | -36.05 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 13.32 | -11.91 |
| Calmar ratioReturn relative to maximum drawdown | 3.18 | 125.12 | -121.93 |
| Martin ratioReturn relative to average drawdown | 10.07 | 572.45 | -562.39 |
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Drawdowns
HXQ.TO vs. CMR.TO - Drawdown Comparison
The maximum HXQ.TO drawdown since its inception was -31.60%, which is greater than CMR.TO's maximum drawdown of -0.52%. Use the drawdown chart below to compare losses from any high point for HXQ.TO and CMR.TO.
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Drawdown Indicators
| HXQ.TO | CMR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.60% | -0.52% | -31.08% |
Max Drawdown (1Y)Largest decline over 1 year | -12.43% | -0.02% | -12.41% |
Max Drawdown (3Y)Largest decline over 3 years | -22.58% | -0.04% | -22.54% |
Max Drawdown (5Y)Largest decline over 5 years | -31.60% | -0.04% | -31.56% |
Max Drawdown (10Y)Largest decline over 10 years | -31.60% | -0.14% | -31.46% |
Current DrawdownCurrent decline from peak | -3.00% | 0.00% | -3.00% |
Average DrawdownAverage peak-to-trough decline | -5.73% | -0.01% | -5.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.92% | 0.00% | +3.92% |
Volatility
HXQ.TO vs. CMR.TO - Volatility Comparison
Horizons NASDAQ-100 Index ETF (HXQ.TO) has a higher volatility of 8.43% compared to iShares Premium Money Market ETF (CMR.TO) at 0.07%. This indicates that HXQ.TO's price experiences larger fluctuations and is considered to be riskier than CMR.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.TO | CMR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.43% | 0.07% | +8.36% |
Volatility (6M)Calculated over the trailing 6-month period | 13.93% | 0.15% | +13.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.40% | 0.20% | +17.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.03% | 0.27% | +20.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.99% | 0.27% | +20.72% |
HXQ.TO vs. CMR.TO - Expense Ratio Comparison
HXQ.TO has a 0.25% expense ratio, which is higher than CMR.TO's 0.13% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
HXQ.TO vs. CMR.TO - Dividend Comparison
HXQ.TO has not paid dividends to shareholders, while CMR.TO's dividend yield for the trailing twelve months is around 2.48%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMR.TO iShares Premium Money Market ETF | 2.48% | 2.81% | 4.56% | 4.64% | 1.63% | 0.00% | 0.47% | 1.60% | 1.33% | 0.61% | 0.43% | 0.48% |
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 CMR.TO have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CMR.TO is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CMR.TO is cheaper with a 0.13% expense ratio, compared with 0.25% for HXQ.TO.
HXQ.TO is categorized as Nasdaq-100, while CMR.TO is Money Market. They also come from different issuers: Horizons and iShares. Their fees differ too: 0.25% for HXQ.TO and 0.13% for CMR.TO.
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