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

HXQ.TO vs. IXN

Last updated Jun 14, 2026

HXQ.TO (Horizons NASDAQ-100 Index ETF) and IXN (iShares Global Tech ETF) are both exchange-traded funds - HXQ.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while IXN is a Technology Equities fund tracking the S&P Global Information Technology Sector Index. Both are passively managed. Over the past 10 years, HXQ.TO returned 22.27%/yr vs 26.11%/yr for IXN. A 0.76 correlation means they provide meaningful diversification when combined. HXQ.TO charges 0.25%/yr vs 0.46%/yr for IXN.

Performance

HXQ.TO vs. IXN - Performance Comparison

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

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Different Trading Currencies

HXQ.TO is traded in CAD, while IXN is traded in USD. To make them comparable, the IXN 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 19.67% return, which is significantly lower than IXN's 35.77% return. Over the past 10 years, HXQ.TO has underperformed IXN with an annualized return of 22.27%, while IXN has yielded a comparatively higher 26.11% annualized return.

HXQ.TO

1D
0.78%
1M
3.46%
YTD
19.67%
6M
19.59%
1Y
41.51%
3Y*
28.29%
5Y*
19.92%
10Y*
22.27%

IXN

1D
0.61%
1M
5.39%
YTD
35.77%
6M
37.10%
1Y
67.44%
3Y*
34.36%
5Y*
25.08%
10Y*
26.11%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HXQ.TO vs. IXN - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HXQ.TO
Horizons NASDAQ-100 Index ETF		19.67%15.05%35.98%51.16%-27.84%26.20%45.58%32.26%6.71%23.12%
IXN
iShares Global Tech ETF		35.77%19.53%35.41%49.34%-25.42%29.52%40.22%41.79%2.51%31.67%

Correlation

The correlation between HXQ.TO and IXN is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.81

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

0.82

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

0.84

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

0.76

Correlation (All Time)
Calculated using the full available price history since Apr 21, 2016

0.76

The correlation between HXQ.TO and IXN has been stable across timeframes, ranging from 0.76 to 0.84 - a consistent structural relationship.

HXQ.TO vs. IXN - Sectors Allocation Comparison

Sectors
HXQ.TO
IXN

Technology

55.9%
99.2%

Communication Services

15.8%

-

Consumer Cyclical

13.2%

-

Healthcare

4.4%
0.1%

Consumer Defensive

4.4%

-

Industrials

3.1%
0.2%

Utilities

1.4%

-

Basic Materials

1.0%

-

Energy

0.5%
0.1%

Financial Services

0.3%

-

Real Estate

0.2%
0.0%

Technology

HXQ.TO
55.9%
IXN
99.2%

Communication Services

HXQ.TO
15.8%
IXN

-

Consumer Cyclical

HXQ.TO
13.2%
IXN

-

Healthcare

HXQ.TO
4.4%
IXN
0.1%

Consumer Defensive

HXQ.TO
4.4%
IXN

-

Industrials

HXQ.TO
3.1%
IXN
0.2%

Utilities

HXQ.TO
1.4%
IXN

-

Basic Materials

HXQ.TO
1.0%
IXN

-

Energy

HXQ.TO
0.5%
IXN
0.1%

Financial Services

HXQ.TO
0.3%
IXN

-

Real Estate

HXQ.TO
0.2%
IXN
0.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Horizons NASDAQ-100 Index ETF

iShares Global Tech ETF

Often compared with HXQ.TO:
HXQ.TO vs. QQC.TOHXQ.TO vs. XQQ.TOHXQ.TO vs. VFV.TOHXQ.TO vs. QQQHXQ.TO vs. HXS.TOHXQ.TO vs. ZNQ.TOHXQ.TO vs. QQC-F.TO
Often compared with IXN:
IXN vs. VGTIXN vs. QQQIXN vs. IGMIXN vs. XLKIXN vs. FTECIXN vs. VOOIXN vs. IETC

Return for Risk

HXQ.TO vs. IXN — 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: 7777
Overall Rank
HXQ.TO Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
HXQ.TO Sortino Ratio Rank: 8080
Sortino Ratio Rank
HXQ.TO Omega Ratio Rank: 8282
Omega Ratio Rank
HXQ.TO Calmar Ratio Rank: 7272
Calmar Ratio Rank
HXQ.TO Martin Ratio Rank: 6464
Martin Ratio Rank
IXN
IXN Risk / Return Rank: 8484
Overall Rank
IXN Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
IXN Sortino Ratio Rank: 8080
Sortino Ratio Rank
IXN Omega Ratio Rank: 8181
Omega Ratio Rank
IXN Calmar Ratio Rank: 8888
Calmar Ratio Rank
IXN Martin Ratio Rank: 8383
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. IXN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizons NASDAQ-100 Index ETF (HXQ.TO) and iShares Global Tech ETF (IXN). 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.TOIXNDifference
Sharpe ratioReturn per unit of total volatility
2.37
2.66

-0.29

Sortino ratioReturn per unit of downside risk
3.07
3.26

-0.19

Omega ratioGain probability vs. loss probability

1.42

1.44

-0.01

Calmar ratioReturn relative to maximum drawdown

3.19

4.57

-1.38

Martin ratioReturn relative to average drawdown

10.12

13.73

-3.62

HXQ.TO vs. IXN - Sharpe Ratio Comparison

The current HXQ.TO Sharpe Ratio is 2.37, which is comparable to the IXN Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of HXQ.TO and IXN, 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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Drawdowns

HXQ.TO vs. IXN - Drawdown Comparison

The maximum HXQ.TO drawdown since its inception was -31.60%, smaller than the maximum IXN drawdown of -43.16%. Use the drawdown chart below to compare losses from any high point for HXQ.TO and IXN.

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Drawdown Indicators

HXQ.TOIXNDifference

Max Drawdown

Largest peak-to-trough decline

-31.60%

-43.16%

+11.56%

Max Drawdown (1Y)

Largest decline over 1 year

-12.43%

-14.04%

+1.61%

Max Drawdown (3Y)

Largest decline over 3 years

-22.58%

-25.94%

+3.36%

Max Drawdown (5Y)

Largest decline over 5 years

-31.60%

-31.53%

-0.07%

Max Drawdown (10Y)

Largest decline over 10 years

-31.60%

-31.53%

-0.07%

Current Drawdown

Current decline from peak

-2.58%

-5.79%

+3.21%

Average Drawdown

Average peak-to-trough decline

-5.74%

-9.05%

+3.31%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.91%

4.67%

-0.76%

Volatility

HXQ.TO vs. IXN - Volatility Comparison

The current volatility for Horizons NASDAQ-100 Index ETF (HXQ.TO) is 7.27%, while iShares Global Tech ETF (IXN) has a volatility of 11.99%. This indicates that HXQ.TO experiences smaller price fluctuations and is considered to be less risky than IXN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HXQ.TOIXNDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.27%

11.99%

-4.72%

Volatility (6M)

Calculated over the trailing 6-month period

13.32%

20.59%

-7.27%

Volatility (1Y)

Calculated over the trailing 1-year period

16.70%

24.12%

-7.42%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.92%

25.91%

-4.99%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.92%

25.50%

-4.58%

HXQ.TO vs. IXN - Expense Ratio Comparison

HXQ.TO has a 0.25% expense ratio, which is lower than IXN's 0.46% expense ratio.

Dividends

HXQ.TO vs. IXN - Dividend Comparison

HXQ.TO has not paid dividends to shareholders, while IXN's dividend yield for the trailing twelve months is around 0.78%.

PositionTTM20252024202320222021202020192018201720162015
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%
IXN
iShares Global Tech ETF		0.78%1.04%0.43%0.55%0.81%0.58%0.63%1.06%0.94%0.93%1.03%1.12%

Frequently Asked Questions

HXQ.TO and IXN have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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.

HXQ.TO is cheaper with a 0.25% expense ratio, compared with 0.46% for IXN.

HXQ.TO is categorized as Nasdaq-100, while IXN is Technology Equities. HXQ.TO tracks NASDAQ-100 Index, while IXN tracks S&P Global Information Technology Sector Index. They also come from different issuers: Horizons and iShares. Their fees differ too: 0.25% for HXQ.TO and 0.46% for IXN.

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