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

HXQ.TO vs. XEQT.TO

Last updated Jun 24, 2026

HXQ.TO (Horizons NASDAQ-100 Index ETF) and XEQT.TO (iShares Core Equity ETF Portfolio) are both exchange-traded funds - HXQ.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while XEQT.TO is a Global Equities fund actively managed by iShares. HXQ.TO is passively managed, while XEQT.TO is actively managed. Over the past 5 years, HXQ.TO returned 19.15%/yr vs 13.61%/yr for XEQT.TO. A 0.79 correlation means they provide meaningful diversification when combined. HXQ.TO charges 0.25%/yr vs 0.20%/yr for XEQT.TO.

Performance

HXQ.TO vs. XEQT.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 iShares Core Equity ETF Portfolio (XEQT.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, HXQ.TO achieves a 20.53% return, which is significantly higher than XEQT.TO's 12.92% 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%

XEQT.TO

1D
-1.14%
1M
2.18%
YTD
12.92%
6M
12.31%
1Y
30.22%
3Y*
23.00%
5Y*
13.61%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)2025202420232022202120202019
HXQ.TO
Horizons NASDAQ-100 Index ETF		20.53%15.05%35.98%51.16%-27.84%26.20%45.58%10.76%
XEQT.TO
iShares Core Equity ETF Portfolio		12.92%20.57%24.38%17.27%-10.99%18.98%11.85%8.56%

Correlation

The correlation between HXQ.TO and XEQT.TO 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

0.79

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

0.82

Correlation (All Time)
Calculated using the full available price history since Aug 14, 2019

0.79

The correlation between HXQ.TO and XEQT.TO has been stable across timeframes, ranging from 0.79 to 0.82 - a consistent structural relationship.

HXQ.TO vs. XEQT.TO - Sectors Allocation Comparison

Sectors
HXQ.TO
XEQT.TO

Technology

55.9%
19.2%

Communication Services

15.8%
5.0%

Consumer Cyclical

13.2%
6.2%

Healthcare

4.4%
3.8%

Consumer Defensive

4.4%
3.6%

Industrials

3.1%
9.9%

Utilities

1.4%
2.8%

Basic Materials

1.0%
10.4%

Energy

0.5%
11.9%

Financial Services

0.3%
25.5%

Real Estate

0.2%
1.9%

Technology

HXQ.TO
55.9%
XEQT.TO
19.2%

Communication Services

HXQ.TO
15.8%
XEQT.TO
5.0%

Consumer Cyclical

HXQ.TO
13.2%
XEQT.TO
6.2%

Healthcare

HXQ.TO
4.4%
XEQT.TO
3.8%

Consumer Defensive

HXQ.TO
4.4%
XEQT.TO
3.6%

Industrials

HXQ.TO
3.1%
XEQT.TO
9.9%

Utilities

HXQ.TO
1.4%
XEQT.TO
2.8%

Basic Materials

HXQ.TO
1.0%
XEQT.TO
10.4%

Energy

HXQ.TO
0.5%
XEQT.TO
11.9%

Financial Services

HXQ.TO
0.3%
XEQT.TO
25.5%

Real Estate

HXQ.TO
0.2%
XEQT.TO
1.9%

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 Core Equity ETF Portfolio

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 XEQT.TO:
XEQT.TO vs. VFV.TOXEQT.TO vs. VEQT.TOXEQT.TO vs. XGRO.TOXEQT.TO vs. ZEQT.TOXEQT.TO vs. VGRO.TOXEQT.TO vs. XEI.TOXEQT.TO vs. VOO

Return for Risk

HXQ.TO vs. XEQT.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: 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
XEQT.TO
XEQT.TO Risk / Return Rank: 8080
Overall Rank
XEQT.TO Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
XEQT.TO Sortino Ratio Rank: 8080
Sortino Ratio Rank
XEQT.TO Omega Ratio Rank: 8181
Omega Ratio Rank
XEQT.TO Calmar Ratio Rank: 7575
Calmar Ratio Rank
XEQT.TO Martin Ratio Rank: 8181
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. XEQT.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizons NASDAQ-100 Index ETF (HXQ.TO) and iShares Core Equity ETF Portfolio (XEQT.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.

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.TOXEQT.TODifference
Sharpe ratioReturn per unit of total volatility
2.28
2.48

-0.21

Sortino ratioReturn per unit of downside risk
2.97
3.39

-0.42

Omega ratioGain probability vs. loss probability

1.41

1.46

-0.05

Calmar ratioReturn relative to maximum drawdown

3.18

3.68

-0.50

Martin ratioReturn relative to average drawdown

10.07

15.80

-5.73

HXQ.TO vs. XEQT.TO - Sharpe Ratio Comparison

The current HXQ.TO Sharpe Ratio is 2.28, which is comparable to the XEQT.TO Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of HXQ.TO and XEQT.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.

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Drawdowns

HXQ.TO vs. XEQT.TO - Drawdown Comparison

The maximum HXQ.TO drawdown since its inception was -31.60%, which is greater than XEQT.TO's maximum drawdown of -29.74%. Use the drawdown chart below to compare losses from any high point for HXQ.TO and XEQT.TO.

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Drawdown Indicators

HXQ.TOXEQT.TODifference

Max Drawdown

Largest peak-to-trough decline

-31.60%

-29.74%

-1.86%

Max Drawdown (1Y)

Largest decline over 1 year

-12.43%

-8.25%

-4.18%

Max Drawdown (3Y)

Largest decline over 3 years

-22.58%

-15.08%

-7.50%

Max Drawdown (5Y)

Largest decline over 5 years

-31.60%

-19.55%

-12.05%

Max Drawdown (10Y)

Largest decline over 10 years

-31.60%

—

—

Current Drawdown

Current decline from peak

-3.00%

-1.19%

-1.81%

Average Drawdown

Average peak-to-trough decline

-5.73%

-4.08%

-1.65%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.92%

1.92%

+2.00%

Volatility

HXQ.TO vs. XEQT.TO - Volatility Comparison

Horizons NASDAQ-100 Index ETF (HXQ.TO) has a higher volatility of 8.43% compared to iShares Core Equity ETF Portfolio (XEQT.TO) at 4.65%. This indicates that HXQ.TO's price experiences larger fluctuations and is considered to be riskier than XEQT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HXQ.TOXEQT.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

8.43%

4.65%

+3.78%

Volatility (6M)

Calculated over the trailing 6-month period

13.93%

10.12%

+3.81%

Volatility (1Y)

Calculated over the trailing 1-year period

17.40%

12.24%

+5.16%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.03%

13.24%

+7.79%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.99%

15.57%

+5.42%

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

HXQ.TO has a 0.25% expense ratio, which is higher than XEQT.TO's 0.20% 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. XEQT.TO - Dividend Comparison

HXQ.TO has not paid dividends to shareholders, while XEQT.TO's dividend yield for the trailing twelve months is around 1.48%.

PositionTTM2025202420232022202120202019
HXQ.TO
Horizons NASDAQ-100 Index ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
XEQT.TO
iShares Core Equity ETF Portfolio		1.48%1.66%2.03%2.09%2.14%1.66%1.69%1.21%

Frequently Asked Questions

HXQ.TO and XEQT.TO 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, XEQT.TO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XEQT.TO is cheaper with a 0.20% expense ratio, compared with 0.25% for HXQ.TO.

HXQ.TO is categorized as Nasdaq-100, while XEQT.TO is Global Equities. They also come from different issuers: Horizons and iShares. Their fees differ too: 0.25% for HXQ.TO and 0.20% for XEQT.TO.

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