ICAE.TO vs. QQC-F.TO

Last updated Jul 4, 2026

ICAE.TO (Invesco S&P/TSX Canadian Dividend Aristocrats ESG Index ETF) and QQC-F.TO (Invesco NASDAQ 100 Index ETF CAD Hedged) are both exchange-traded funds - ICAE.TO is a Dividend fund tracking the S&P/TSX Canadian Dividend Aristocrats ESG Index, while QQC-F.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 3 years, ICAE.TO returned 16.01%/yr vs 23.60%/yr for QQC-F.TO. At a 0.17 correlation, their price movements are largely independent. ICAE.TO charges 0.23%/yr vs 0.20%/yr for QQC-F.TO.

Performance

ICAE.TO vs. QQC-F.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Invesco S&P/TSX Canadian Dividend Aristocrats ESG Index ETF (ICAE.TO) and Invesco NASDAQ 100 Index ETF CAD Hedged (QQC-F.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with ICAE.TO having a 16.94% return and QQC-F.TO slightly lower at 16.21%.

ICAE.TO

• 1D: 0.77%
• 1M: 4.66%
• 6M: 16.72%
• YTD: 16.94%
• 1Y: 16.60%
• 3Y*: 16.01%
• 5Y*: —
• 10Y*: —

QQC-F.TO

• 1D: 1.18%
• 1M: -3.08%
• 6M: 16.50%
• YTD: 16.21%
• 1Y: 27.75%
• 3Y*: 23.60%
• 5Y*: 14.12%
• 10Y*: 20.25%

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

ICAE.TO vs. QQC-F.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ICAE.TO Invesco S&P/TSX Canadian Dividend Aristocrats ESG Index ETF	16.94%	10.02%	17.62%	5.84%
QQC-F.TO Invesco NASDAQ 100 Index ETF CAD Hedged	16.21%	18.79%	24.19%	41.40%

Correlation

The correlation between ICAE.TO and QQC-F.TO is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (All Time) Calculated using the full available price history since Mar 13, 2023	0.17

Return for Risk

ICAE.TO vs. QQC-F.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ICAE.TO

ICAE.TO Risk / Return Rank: 29
ICAE.TO Sharpe Ratio Rank: 26
ICAE.TO Sortino Ratio Rank: 22
ICAE.TO Omega Ratio Rank: 52
ICAE.TO Calmar Ratio Rank: 24
ICAE.TO Martin Ratio Rank: 20

QQC-F.TO

QQC-F.TO Risk / Return Rank: 52
QQC-F.TO Sharpe Ratio Rank: 54
QQC-F.TO Sortino Ratio Rank: 51
QQC-F.TO Omega Ratio Rank: 52
QQC-F.TO Calmar Ratio Rank: 52
QQC-F.TO Martin Ratio Rank: 54

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.

ICAE.TO vs. QQC-F.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P/TSX Canadian Dividend Aristocrats ESG Index ETF (ICAE.TO) and Invesco NASDAQ 100 Index ETF CAD Hedged (QQC-F.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.

	ICAE.TO	QQC-F.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.85	1.53	-0.69
Sortino ratio: Return per unit of downside risk	1.11	2.09	-0.98
Omega ratio: Gain probability vs. loss probability	1.27	1.27	0.00
Calmar ratio: Return relative to maximum drawdown	1.01	2.15	-1.14
Martin ratio: Return relative to average drawdown	2.02	7.63	-5.61

ICAE.TO vs. QQC-F.TO - Sharpe Ratio Comparison

The current ICAE.TO Sharpe Ratio is 0.85, which is lower than the QQC-F.TO Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of ICAE.TO and QQC-F.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.

Drawdowns

ICAE.TO vs. QQC-F.TO - Drawdown Comparison

The maximum ICAE.TO drawdown since its inception was -16.49%, smaller than the maximum QQC-F.TO drawdown of -36.03%. Use the drawdown chart below to compare losses from any high point for ICAE.TO and QQC-F.TO.

Drawdown Indicators

	ICAE.TO	QQC-F.TO	Difference
Max Drawdown Largest peak-to-trough decline	-16.49%	-36.03%	+19.54%
Max Drawdown (1Y) Largest decline over 1 year	-16.49%	-12.98%	-3.51%
Max Drawdown (3Y) Largest decline over 3 years	-16.49%	-22.76%	+6.27%
Max Drawdown (5Y) Largest decline over 5 years	—	-36.03%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-36.03%	—
Current Drawdown Current decline from peak	-2.23%	-3.30%	+1.07%
Average Drawdown Average peak-to-trough decline	-3.54%	-5.48%	+1.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.22%	3.65%	+4.57%

Volatility

ICAE.TO vs. QQC-F.TO - Volatility Comparison

The current volatility for Invesco S&P/TSX Canadian Dividend Aristocrats ESG Index ETF (ICAE.TO) is 2.22%, while Invesco NASDAQ 100 Index ETF CAD Hedged (QQC-F.TO) has a volatility of 9.72%. This indicates that ICAE.TO experiences smaller price fluctuations and is considered to be less risky than QQC-F.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ICAE.TO	QQC-F.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.22%	9.72%	-7.50%
Volatility (6M) Calculated over the trailing 6-month period	7.91%	14.94%	-7.03%
Volatility (1Y) Calculated over the trailing 1-year period	19.70%	18.22%	+1.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.03%	22.79%	-6.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.03%	22.66%	-6.63%

ICAE.TO vs. QQC-F.TO - Expense Ratio Comparison

ICAE.TO has a 0.23% expense ratio, which is higher than QQC-F.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

ICAE.TO vs. QQC-F.TO - Dividend Comparison

ICAE.TO's dividend yield for the trailing twelve months is around 2.74%, more than QQC-F.TO's 0.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ICAE.TO Invesco S&P/TSX Canadian Dividend Aristocrats ESG Index ETF	2.74%	3.29%	3.33%	2.87%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QQC-F.TO Invesco NASDAQ 100 Index ETF CAD Hedged	0.33%	0.39%	0.50%	0.57%	0.89%	0.66%	0.49%	0.64%	0.77%	0.66%	0.81%	0.76%

Frequently Asked Questions

Can I hold both ICAE.TO and QQC-F.TO in my portfolio?

ICAE.TO and QQC-F.TO have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ICAE.TO or QQC-F.TO?

On fees, QQC-F.TO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ICAE.TO or QQC-F.TO?

QQC-F.TO is cheaper with a 0.20% expense ratio, compared with 0.23% for ICAE.TO.

What is the main difference between ICAE.TO and QQC-F.TO?

ICAE.TO is categorized as Dividend, while QQC-F.TO is Nasdaq-100. ICAE.TO tracks S&P/TSX Canadian Dividend Aristocrats ESG Index, while QQC-F.TO tracks NASDAQ-100 Index. Their fees differ too: 0.23% for ICAE.TO and 0.20% for QQC-F.TO.