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

HXQ.TO vs. SCHG

Last updated Jun 24, 2026

HXQ.TO (Horizons NASDAQ-100 Index ETF) and SCHG (Schwab U.S. Large-Cap Growth ETF) are both exchange-traded funds - HXQ.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while SCHG is a Large Cap Growth Equities fund tracking the Dow Jones U.S. Large-Cap Growth Total Stock Market Index. Both are passively managed. Over the past 10 years, HXQ.TO returned 22.49%/yr vs 19.82%/yr for SCHG. A 0.76 correlation means they provide meaningful diversification when combined. HXQ.TO charges 0.25%/yr vs 0.04%/yr for SCHG.

Performance

HXQ.TO vs. SCHG - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Horizons NASDAQ-100 Index ETF (HXQ.TO) and Schwab U.S. Large-Cap Growth ETF (SCHG). 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 SCHG is traded in USD. To make them comparable, the SCHG 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 20.53% return, which is significantly higher than SCHG's 4.78% return. Over the past 10 years, HXQ.TO has outperformed SCHG with an annualized return of 22.49%, while SCHG has yielded a comparatively lower 19.82% 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%

SCHG

1D
-1.48%
1M
-1.26%
YTD
4.78%
6M
3.08%
1Y
21.51%
3Y*
25.19%
5Y*
16.50%
10Y*
19.82%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HXQ.TO vs. SCHG - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
SCHG
Schwab U.S. Large-Cap Growth ETF		4.78%12.14%46.38%46.53%-27.48%28.05%35.84%30.41%6.94%19.38%

Correlation

The correlation between HXQ.TO and SCHG is 0.80, 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

0.80

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

0.83

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

0.85

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

0.77

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

0.76

The correlation between HXQ.TO and SCHG has been stable across timeframes, ranging from 0.76 to 0.85 - a consistent structural relationship.

HXQ.TO vs. SCHG - Sectors Allocation Comparison

Sectors
HXQ.TO
SCHG

Technology

55.9%
46.7%

Communication Services

15.8%
15.3%

Consumer Cyclical

13.2%
12.4%

Healthcare

4.4%
8.4%

Consumer Defensive

4.4%
1.6%

Industrials

3.1%
6.0%

Utilities

1.4%
0.4%

Basic Materials

1.0%
1.3%

Energy

0.5%
0.7%

Financial Services

0.3%
6.6%

Real Estate

0.2%
0.5%

Technology

HXQ.TO
55.9%
SCHG
46.7%

Communication Services

HXQ.TO
15.8%
SCHG
15.3%

Consumer Cyclical

HXQ.TO
13.2%
SCHG
12.4%

Healthcare

HXQ.TO
4.4%
SCHG
8.4%

Consumer Defensive

HXQ.TO
4.4%
SCHG
1.6%

Industrials

HXQ.TO
3.1%
SCHG
6.0%

Utilities

HXQ.TO
1.4%
SCHG
0.4%

Basic Materials

HXQ.TO
1.0%
SCHG
1.3%

Energy

HXQ.TO
0.5%
SCHG
0.7%

Financial Services

HXQ.TO
0.3%
SCHG
6.6%

Real Estate

HXQ.TO
0.2%
SCHG
0.5%

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

Schwab U.S. Large-Cap Growth 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 SCHG:
SCHG vs. SCHDSCHG vs. QQQMSCHG vs. VOOSCHG vs. VUGSCHG vs. QQQSCHG vs. SPMOSCHG vs. SPYG

Return for Risk

HXQ.TO vs. SCHG — 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: 6868
Overall Rank
HXQ.TO Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
HXQ.TO Sortino Ratio Rank: 6868
Sortino Ratio Rank
HXQ.TO Omega Ratio Rank: 7272
Omega Ratio Rank
HXQ.TO Calmar Ratio Rank: 6666
Calmar Ratio Rank
HXQ.TO Martin Ratio Rank: 5959
Martin Ratio Rank
SCHG
SCHG Risk / Return Rank: 2828
Overall Rank
SCHG Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
SCHG Sortino Ratio Rank: 3030
Sortino Ratio Rank
SCHG Omega Ratio Rank: 3030
Omega Ratio Rank
SCHG Calmar Ratio Rank: 2323
Calmar Ratio Rank
SCHG Martin Ratio Rank: 2727
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. SCHG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizons NASDAQ-100 Index ETF (HXQ.TO) and Schwab U.S. Large-Cap Growth ETF (SCHG). 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.TOSCHGDifference
Sharpe ratioReturn per unit of total volatility
2.28
1.33

+0.95

Sortino ratioReturn per unit of downside risk
2.97
1.86

+1.12

Omega ratioGain probability vs. loss probability

1.41

1.23

+0.18

Calmar ratioReturn relative to maximum drawdown

3.18

1.29

+1.89

Martin ratioReturn relative to average drawdown

10.07

3.80

+6.27

HXQ.TO vs. SCHG - Sharpe Ratio Comparison

The current HXQ.TO Sharpe Ratio is 2.28, which is higher than the SCHG Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of HXQ.TO and SCHG, 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. SCHG - Drawdown Comparison

The maximum HXQ.TO drawdown since its inception was -31.60%, roughly equal to the maximum SCHG drawdown of -32.68%. Use the drawdown chart below to compare losses from any high point for HXQ.TO and SCHG.

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Drawdown Indicators

HXQ.TOSCHGDifference

Max Drawdown

Largest peak-to-trough decline

-31.60%

-32.68%

+1.08%

Max Drawdown (1Y)

Largest decline over 1 year

-12.43%

-16.70%

+4.27%

Max Drawdown (3Y)

Largest decline over 3 years

-22.58%

-24.01%

+1.43%

Max Drawdown (5Y)

Largest decline over 5 years

-31.60%

-32.68%

+1.08%

Max Drawdown (10Y)

Largest decline over 10 years

-31.60%

-32.68%

+1.08%

Current Drawdown

Current decline from peak

-3.00%

-4.00%

+1.00%

Average Drawdown

Average peak-to-trough decline

-5.73%

-4.79%

-0.94%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.92%

5.68%

-1.76%

Volatility

HXQ.TO vs. SCHG - Volatility Comparison

Horizons NASDAQ-100 Index ETF (HXQ.TO) has a higher volatility of 8.43% compared to Schwab U.S. Large-Cap Growth ETF (SCHG) at 6.11%. This indicates that HXQ.TO's price experiences larger fluctuations and is considered to be riskier than SCHG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HXQ.TOSCHGDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.43%

6.11%

+2.32%

Volatility (6M)

Calculated over the trailing 6-month period

13.93%

12.67%

+1.26%

Volatility (1Y)

Calculated over the trailing 1-year period

17.40%

16.34%

+1.06%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.03%

23.11%

-2.08%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.99%

22.53%

-1.54%

HXQ.TO vs. SCHG - Expense Ratio Comparison

HXQ.TO has a 0.25% expense ratio, which is higher than SCHG's 0.04% 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. SCHG - Dividend Comparison

HXQ.TO has not paid dividends to shareholders, while SCHG's dividend yield for the trailing twelve months is around 0.38%.

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%
SCHG
Schwab U.S. Large-Cap Growth ETF		0.38%0.36%0.39%0.46%0.55%0.42%0.52%0.82%1.27%1.01%1.04%1.22%

Frequently Asked Questions

HXQ.TO and SCHG have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SCHG is cheaper at 0.04% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SCHG is cheaper with a 0.04% expense ratio, compared with 0.25% for HXQ.TO.

HXQ.TO is categorized as Nasdaq-100, while SCHG is Large Cap Growth Equities. HXQ.TO tracks NASDAQ-100 Index, while SCHG tracks Dow Jones U.S. Large-Cap Growth Total Stock Market Index. They also come from different issuers: Horizons and Charles Schwab. Their fees differ too: 0.25% for HXQ.TO and 0.04% for SCHG.

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