HXQ.TO vs. QQCE.TO

Last updated Jun 4, 2026

HXQ.TO (Horizons NASDAQ-100 Index ETF) and QQCE.TO (Invesco ESG NASDAQ 100 Index ETF) are both Nasdaq-100 funds - HXQ.TO tracks the NASDAQ-100 Index while QQCE.TO tracks the NASDAQ-100 ESG Index. Both are passively managed. Over the past 3 years, HXQ.TO returned 30.08%/yr vs 30.82%/yr for QQCE.TO. A 0.63 correlation means they provide meaningful diversification when combined. HXQ.TO charges 0.25%/yr vs 0.21%/yr for QQCE.TO.

Performance

HXQ.TO vs. QQCE.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 Invesco ESG NASDAQ 100 Index ETF (QQCE.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with HXQ.TO having a 22.84% return and QQCE.TO slightly higher at 23.30%.

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%

QQCE.TO

• 1D: 0.16%
• 1M: 14.10%
• YTD: 23.30%
• 6M: 19.99%
• 1Y: 45.87%
• 3Y*: 30.82%
• 5Y*: —
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021
HXQ.TO Horizons NASDAQ-100 Index ETF	22.84%	15.05%	35.98%	51.16%	-27.84%	5.04%
QQCE.TO Invesco ESG NASDAQ 100 Index ETF	23.30%	16.43%	36.67%	44.13%	-25.37%	5.14%

Correlation

The correlation between HXQ.TO and QQCE.TO is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (All Time) Calculated using the full available price history since Nov 2, 2021	0.63

Over the past year, HXQ.TO and QQCE.TO have become more correlated (0.93) than their long-term average of 0.63, meaning their price movements have been converging.

Return for Risk

HXQ.TO vs. QQCE.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

QQCE.TO

QQCE.TO Risk / Return Rank: 76
QQCE.TO Sharpe Ratio Rank: 85
QQCE.TO Sortino Ratio Rank: 81
QQCE.TO Omega Ratio Rank: 82
QQCE.TO Calmar Ratio Rank: 71
QQCE.TO Martin Ratio Rank: 61

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. QQCE.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizons NASDAQ-100 Index ETF (HXQ.TO) and Invesco ESG NASDAQ 100 Index ETF (QQCE.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	QQCE.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.80	2.80	-0.01
Sortino ratio: Return per unit of downside risk	3.65	3.60	+0.05
Omega ratio: Gain probability vs. loss probability	1.49	1.50	-0.01
Calmar ratio: Return relative to maximum drawdown	3.51	3.50	+0.01
Martin ratio: Return relative to average drawdown	11.28	10.72	+0.57
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. QQCE.TO - Sharpe Ratio Comparison

The current HXQ.TO Sharpe Ratio is 2.80, which is comparable to the QQCE.TO Sharpe Ratio of 2.80. The chart below compares the historical Sharpe Ratios of HXQ.TO and QQCE.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	QQCE.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.80	2.80	-0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.02	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.09	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.08	0.92	+0.16

Drawdowns

HXQ.TO vs. QQCE.TO - Drawdown Comparison

The maximum HXQ.TO drawdown since its inception was -31.60%, roughly equal to the maximum QQCE.TO drawdown of -30.86%. Use the drawdown chart below to compare losses from any high point for HXQ.TO and QQCE.TO.

Drawdown Indicators

	HXQ.TO	QQCE.TO	Difference
Max Drawdown Largest peak-to-trough decline	-31.60%	-30.86%	-0.74%
Max Drawdown (1Y) Largest decline over 1 year	-12.43%	-13.16%	+0.73%
Max Drawdown (3Y) Largest decline over 3 years	-22.58%	-23.05%	+0.47%
Max Drawdown (5Y) Largest decline over 5 years	-31.60%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-31.60%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.75%	-8.70%	+2.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.86%	4.29%	-0.43%

Volatility

HXQ.TO vs. QQCE.TO - Volatility Comparison

Horizons NASDAQ-100 Index ETF (HXQ.TO) and Invesco ESG NASDAQ 100 Index ETF (QQCE.TO) have volatilities of 4.63% and 4.78%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HXQ.TO	QQCE.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.63%	4.78%	-0.15%
Volatility (6M) Calculated over the trailing 6-month period	11.81%	12.65%	-0.84%
Volatility (1Y) Calculated over the trailing 1-year period	15.62%	16.47%	-0.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.76%	20.71%	+0.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.83%	20.71%	+0.12%

HXQ.TO vs. QQCE.TO - Expense Ratio Comparison

HXQ.TO has a 0.25% expense ratio, which is higher than QQCE.TO's 0.21% 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. QQCE.TO - Dividend Comparison

HXQ.TO has not paid dividends to shareholders, while QQCE.TO's dividend yield for the trailing twelve months is around 0.26%.

Position	TTM	2025	2024	2023	2022	2021
HXQ.TO Horizons NASDAQ-100 Index ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QQCE.TO Invesco ESG NASDAQ 100 Index ETF	0.26%	0.32%	0.38%	0.44%	0.79%	0.14%

Frequently Asked Questions

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

With a correlation of 0.93, HXQ.TO and QQCE.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, HXQ.TO or QQCE.TO?

On fees, QQCE.TO is cheaper at 0.21% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HXQ.TO or QQCE.TO?

QQCE.TO is cheaper with a 0.21% expense ratio, compared with 0.25% for HXQ.TO.

What is the main difference between HXQ.TO and QQCE.TO?

HXQ.TO tracks NASDAQ-100 Index, while QQCE.TO tracks NASDAQ-100 ESG Index. They also come from different issuers: Horizons and Invesco. Their fees differ too: 0.25% for HXQ.TO and 0.21% for QQCE.TO.