HXQ.TO vs. IMO.TO

Last updated Jun 4, 2026

HXQ.TO (Horizons NASDAQ-100 Index ETF) is Nasdaq-100 fund tracking the NASDAQ-100 Index, while IMO.TO (Imperial Oil Limited) is a stock. Over the past 10 years, HXQ.TO returned 22.59%/yr vs 18.33%/yr for IMO.TO. At a 0.10 correlation, their price movements are largely independent.

Performance

HXQ.TO vs. IMO.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 Imperial Oil Limited (IMO.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HXQ.TO achieves a 22.84% return, which is significantly lower than IMO.TO's 48.95% return. Over the past 10 years, HXQ.TO has outperformed IMO.TO with an annualized return of 22.59%, while IMO.TO has yielded a comparatively lower 18.33% annualized return.

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%

IMO.TO

• 1D: 2.03%
• 1M: -1.11%
• YTD: 48.95%
• 6M: 31.48%
• 1Y: 78.21%
• 3Y*: 42.98%
• 5Y*: 37.00%
• 10Y*: 18.33%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
IMO.TO Imperial Oil Limited	48.95%	37.40%	20.37%	17.64%	47.77%	94.39%	-26.99%	1.80%	-10.19%	-14.64%

Correlation

The correlation between HXQ.TO and IMO.TO is -0.08, 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	-0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (5Y) Calculated over the trailing 5-year period	0.03
Correlation (10Y) Calculated over the trailing 10-year period	0.10
Correlation (All Time) Calculated using the full available price history since Apr 22, 2016	0.10

The correlation between HXQ.TO and IMO.TO shifts across timeframes, from -0.08 (1 year) to 0.10 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

HXQ.TO vs. IMO.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: 75
HXQ.TO Sharpe Ratio Rank: 84
HXQ.TO Sortino Ratio Rank: 80
HXQ.TO Omega Ratio Rank: 80
HXQ.TO Calmar Ratio Rank: 69
HXQ.TO Martin Ratio Rank: 62

IMO.TO

IMO.TO Risk / Return Rank: 91
IMO.TO Sharpe Ratio Rank: 94
IMO.TO Sortino Ratio Rank: 92
IMO.TO Omega Ratio Rank: 90
IMO.TO Calmar Ratio Rank: 89
IMO.TO Martin Ratio Rank: 92

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. IMO.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizons NASDAQ-100 Index ETF (HXQ.TO) and Imperial Oil Limited (IMO.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.TO	IMO.TO	Difference
Sharpe ratio Return per unit of total volatility	2.80	2.97	-0.17
Sortino ratio Return per unit of downside risk	3.65	3.55	+0.10
Omega ratio Gain probability vs. loss probability	1.49	1.44	+0.05
Calmar ratio Return relative to maximum drawdown	3.51	4.44	-0.93
Martin ratio Return relative to average drawdown	11.28	14.55	-3.26
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. IMO.TO - Sharpe Ratio Comparison

The current HXQ.TO Sharpe Ratio is 2.80, which is comparable to the IMO.TO Sharpe Ratio of 2.97. The chart below compares the historical Sharpe Ratios of HXQ.TO and IMO.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.

Sharpe Ratios by Period

	HXQ.TO	IMO.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.80	2.97	-0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.02	1.22	-0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.09	0.55	+0.54
Sharpe Ratio (All Time) Calculated using the full available price history	1.08	0.40	+0.68

Drawdowns

HXQ.TO vs. IMO.TO - Drawdown Comparison

The maximum HXQ.TO drawdown since its inception was -31.60%, smaller than the maximum IMO.TO drawdown of -78.70%. Use the drawdown chart below to compare losses from any high point for HXQ.TO and IMO.TO.

Drawdown Indicators

	HXQ.TO	IMO.TO	Difference
Max Drawdown Largest peak-to-trough decline	-31.60%	-78.70%	+47.10%
Max Drawdown (1Y) Largest decline over 1 year	-12.43%	-17.70%	+5.27%
Max Drawdown (3Y) Largest decline over 3 years	-22.58%	-20.83%	-1.75%
Max Drawdown (5Y) Largest decline over 5 years	-31.60%	-26.59%	-5.01%
Max Drawdown (10Y) Largest decline over 10 years	-31.60%	-75.21%	+43.61%
Current Drawdown Current decline from peak	0.00%	-7.25%	+7.25%
Average Drawdown Average peak-to-trough decline	-5.75%	-18.07%	+12.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.86%	5.39%	-1.53%

Volatility

HXQ.TO vs. IMO.TO - Volatility Comparison

The current volatility for Horizons NASDAQ-100 Index ETF (HXQ.TO) is 4.63%, while Imperial Oil Limited (IMO.TO) has a volatility of 10.46%. This indicates that HXQ.TO experiences smaller price fluctuations and is considered to be less risky than IMO.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HXQ.TO	IMO.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.63%	10.46%	-5.83%
Volatility (6M) Calculated over the trailing 6-month period	11.81%	22.17%	-10.36%
Volatility (1Y) Calculated over the trailing 1-year period	15.62%	26.52%	-10.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.76%	30.46%	-9.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.83%	33.41%	-12.58%

Dividends

HXQ.TO vs. IMO.TO - Dividend Comparison

HXQ.TO has not paid dividends to shareholders, while IMO.TO's dividend yield for the trailing twelve months is around 1.72%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
IMO.TO Imperial Oil Limited	1.72%	2.43%	2.71%	2.57%	2.21%	2.26%	3.64%	2.47%	2.11%	1.61%	1.26%	1.20%

Frequently Asked Questions

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

HXQ.TO and IMO.TO have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.