HXQ.TO vs. FNDF
HXQ.TO (Horizons NASDAQ-100 Index ETF) and FNDF (Schwab Fundamental International Equity ETF) are both exchange-traded funds - HXQ.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while FNDF is a Foreign Large Cap Equities fund tracking the RAFI Fundamental High Liquidity Developed ex US Large Index (Net). Both are passively managed. Over the past 10 years, HXQ.TO returned 22.16%/yr vs 12.81%/yr for FNDF. At a 0.38 correlation, their price movements are largely independent. Both charge a 0.25% expense ratio.
Performance
HXQ.TO vs. FNDF - Performance Comparison
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Different Trading Currencies
HXQ.TO is traded in CAD, while FNDF is traded in USD. To make them comparable, the FNDF 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 lower than FNDF's 19.48% return. Over the past 10 years, HXQ.TO has outperformed FNDF with an annualized return of 22.16%, while FNDF has yielded a comparatively lower 12.81% annualized 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%
FNDF
- 1D
- 1.13%
- 1M
- 1.62%
- YTD
- 19.48%
- 6M
- 21.43%
- 1Y
- 42.00%
- 3Y*
- 24.17%
- 5Y*
- 15.97%
- 10Y*
- 12.81%
HXQ.TO vs. FNDF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HXQ.TO Horizons NASDAQ-100 Index ETF | 18.52% | 15.05% | 35.98% | 51.16% | -27.84% | 26.20% | 45.58% | 32.26% | 6.71% | 23.12% |
FNDF Schwab Fundamental International Equity ETF | 19.48% | 34.56% | 10.95% | 17.36% | -1.93% | 14.92% | 1.16% | 13.58% | -7.00% | 15.59% |
Correlation
The correlation between HXQ.TO and FNDF is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Apr 22, 2016 | 0.38 |
HXQ.TO vs. FNDF - Sectors Allocation Comparison
Sectors
HXQ.TO
FNDF
Technology
Communication Services
Consumer Cyclical
Healthcare
Consumer Defensive
Industrials
Utilities
Basic Materials
Energy
Financial Services
Real Estate
Technology
HXQ.TO
FNDF
Communication Services
HXQ.TO
FNDF
Consumer Cyclical
HXQ.TO
FNDF
Healthcare
HXQ.TO
FNDF
Consumer Defensive
HXQ.TO
FNDF
Industrials
HXQ.TO
FNDF
Utilities
HXQ.TO
FNDF
Basic Materials
HXQ.TO
FNDF
Energy
HXQ.TO
FNDF
Financial Services
HXQ.TO
FNDF
Real Estate
HXQ.TO
FNDF
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Return for Risk
HXQ.TO vs. FNDF — Risk / Return Rank
HXQ.TO
FNDF
HXQ.TO vs. FNDF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Horizons NASDAQ-100 Index ETF (HXQ.TO) and Schwab Fundamental International Equity ETF (FNDF). 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 | FNDF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.46 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.08 | 4.14 | -1.06 |
| Martin ratioReturn relative to average drawdown | 9.84 | 15.95 | -6.11 |
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
| HXQ.TO | FNDF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.35 | 2.64 | -0.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.97 | 0.93 | +0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.07 | 0.69 | +0.38 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.06 | 0.63 | +0.43 |
Drawdowns
HXQ.TO vs. FNDF - Drawdown Comparison
The maximum HXQ.TO drawdown since its inception was -31.60%, roughly equal to the maximum FNDF drawdown of -32.91%. Use the drawdown chart below to compare losses from any high point for HXQ.TO and FNDF.
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Drawdown Indicators
| HXQ.TO | FNDF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.60% | -32.91% | +1.31% |
Max Drawdown (1Y)Largest decline over 1 year | -12.43% | -10.20% | -2.23% |
Max Drawdown (3Y)Largest decline over 3 years | -22.58% | -14.33% | -8.25% |
Max Drawdown (5Y)Largest decline over 5 years | -31.60% | -20.02% | -11.58% |
Max Drawdown (10Y)Largest decline over 10 years | -31.60% | -32.91% | +1.31% |
Current DrawdownCurrent decline from peak | -3.52% | -3.11% | -0.41% |
Average DrawdownAverage peak-to-trough decline | -5.75% | -4.58% | -1.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.88% | 2.64% | +1.24% |
Volatility
HXQ.TO vs. FNDF - Volatility Comparison
Horizons NASDAQ-100 Index ETF (HXQ.TO) has a higher volatility of 6.67% compared to Schwab Fundamental International Equity ETF (FNDF) at 6.15%. This indicates that HXQ.TO's price experiences larger fluctuations and is considered to be riskier than FNDF 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 | FNDF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.67% | 6.15% | +0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 12.75% | 13.61% | -0.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.27% | 16.03% | +0.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.85% | 17.32% | +3.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.89% | 18.71% | +2.18% |
HXQ.TO vs. FNDF - Expense Ratio Comparison
Both HXQ.TO and FNDF have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
HXQ.TO vs. FNDF - Dividend Comparison
HXQ.TO has not paid dividends to shareholders, while FNDF's dividend yield for the trailing twelve months is around 2.93%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNDF Schwab Fundamental International Equity ETF | 2.93% | 3.44% | 4.01% | 3.41% | 3.10% | 3.54% | 2.17% | 3.20% | 3.47% | 2.32% | 2.42% | 2.08% |
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 FNDF have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
HXQ.TO and FNDF have the same expense ratio: 0.25% per year.
HXQ.TO is categorized as Nasdaq-100, while FNDF is Foreign Large Cap Equities. HXQ.TO tracks NASDAQ-100 Index, while FNDF tracks RAFI Fundamental High Liquidity Developed ex US Large Index (Net). They also come from different issuers: Horizons and Charles Schwab.
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