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

IVLU vs. HXQ.TO

Last updated Jun 13, 2026

IVLU (iShares MSCI International Value Factor ETF) and HXQ.TO (Horizons NASDAQ-100 Index ETF) are both exchange-traded funds - IVLU is a Foreign Large Cap Equities fund tracking the MSCI World ex USA Enhanced Value Index, while HXQ.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, IVLU returned 11.63%/yr vs 21.23%/yr for HXQ.TO. At a 0.37 correlation, their price movements are largely independent. IVLU charges 0.30%/yr vs 0.25%/yr for HXQ.TO.

Performance

IVLU vs. HXQ.TO - Performance Comparison

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

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Different Trading Currencies

IVLU is traded in USD, while HXQ.TO is traded in CAD. To make them comparable, the HXQ.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, IVLU achieves a 12.96% return, which is significantly lower than HXQ.TO's 17.23% return. Over the past 10 years, IVLU has underperformed HXQ.TO with an annualized return of 11.63%, while HXQ.TO has yielded a comparatively higher 21.23% annualized return.

IVLU

1D
0.56%
1M
0.70%
YTD
12.96%
6M
14.33%
1Y
33.78%
3Y*
23.53%
5Y*
14.06%
10Y*
11.63%

HXQ.TO

1D
0.55%
1M
0.92%
YTD
17.23%
6M
17.86%
1Y
36.33%
3Y*
26.37%
5Y*
16.50%
10Y*
21.23%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IVLU vs. HXQ.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IVLU
iShares MSCI International Value Factor ETF		12.96%46.09%6.76%20.07%-5.73%15.60%-4.50%15.60%-15.10%23.10%
HXQ.TO
Horizons NASDAQ-100 Index ETF		17.17%20.55%25.37%54.85%-32.14%26.26%49.12%37.94%-1.57%32.06%

Correlation

The correlation between IVLU and HXQ.TO is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.42

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

0.37

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

0.40

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

0.37

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

0.37

IVLU vs. HXQ.TO - Sectors Allocation Comparison

Sectors
IVLU
HXQ.TO

Financial Services

25.3%
0.3%

Industrials

17.2%
3.1%

Technology

11.3%
55.9%

Healthcare

9.7%
4.4%

Basic Materials

7.5%
1.0%

Consumer Cyclical

7.4%
13.2%

Consumer Defensive

6.3%
4.4%

Energy

5.1%
0.5%

Communication Services

4.0%
15.8%

Utilities

3.3%
1.4%

Real Estate

1.5%
0.2%

Financial Services

IVLU
25.3%
HXQ.TO
0.3%

Industrials

IVLU
17.2%
HXQ.TO
3.1%

Technology

IVLU
11.3%
HXQ.TO
55.9%

Healthcare

IVLU
9.7%
HXQ.TO
4.4%

Basic Materials

IVLU
7.5%
HXQ.TO
1.0%

Consumer Cyclical

IVLU
7.4%
HXQ.TO
13.2%

Consumer Defensive

IVLU
6.3%
HXQ.TO
4.4%

Energy

IVLU
5.1%
HXQ.TO
0.5%

Communication Services

IVLU
4.0%
HXQ.TO
15.8%

Utilities

IVLU
3.3%
HXQ.TO
1.4%

Real Estate

IVLU
1.5%
HXQ.TO
0.2%

Compare stocks, funds, or ETFs

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

iShares MSCI International Value Factor ETF

Horizons NASDAQ-100 Index ETF

Often compared with IVLU:
IVLU vs. DFIVIVLU vs. FIVAIVLU vs. VXUSIVLU vs. IDMOIVLU vs. IEFAIVLU vs. DISVIVLU vs. SFNNX
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

Return for Risk

IVLU vs. HXQ.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IVLU
IVLU Risk / Return Rank: 7373
Overall Rank
IVLU Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
IVLU Sortino Ratio Rank: 7777
Sortino Ratio Rank
IVLU Omega Ratio Rank: 7676
Omega Ratio Rank
IVLU Calmar Ratio Rank: 6767
Calmar Ratio Rank
IVLU Martin Ratio Rank: 6969
Martin Ratio Rank
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
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.

IVLU vs. HXQ.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI International Value Factor ETF (IVLU) and Horizons NASDAQ-100 Index ETF (HXQ.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.

IVLUHXQ.TODifference
Sharpe ratioReturn per unit of total volatility
2.17
2.09

+0.08

Sortino ratioReturn per unit of downside risk
2.98
2.73

+0.25

Omega ratioGain probability vs. loss probability

1.39

1.38

+0.01

Calmar ratioReturn relative to maximum drawdown

2.90

3.05

-0.14

Martin ratioReturn relative to average drawdown

11.01

11.18

-0.18

IVLU vs. HXQ.TO - Sharpe Ratio Comparison

The current IVLU Sharpe Ratio is 2.17, which is comparable to the HXQ.TO Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of IVLU and HXQ.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

IVLU vs. HXQ.TO - Drawdown Comparison

The maximum IVLU drawdown since its inception was -41.85%, which is greater than HXQ.TO's maximum drawdown of -35.78%. Use the drawdown chart below to compare losses from any high point for IVLU and HXQ.TO.

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Drawdown Indicators

IVLUHXQ.TODifference

Max Drawdown

Largest peak-to-trough decline

-41.85%

-35.78%

-6.07%

Max Drawdown (1Y)

Largest decline over 1 year

-11.69%

-11.98%

+0.29%

Max Drawdown (3Y)

Largest decline over 3 years

-15.48%

-22.85%

+7.37%

Max Drawdown (5Y)

Largest decline over 5 years

-26.04%

-35.78%

+9.74%

Max Drawdown (10Y)

Largest decline over 10 years

-41.85%

-35.78%

-6.07%

Current Drawdown

Current decline from peak

-0.53%

-3.52%

+2.99%

Average Drawdown

Average peak-to-trough decline

-8.57%

-6.35%

-2.22%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.09%

3.26%

-0.17%

Volatility

IVLU vs. HXQ.TO - Volatility Comparison

The current volatility for iShares MSCI International Value Factor ETF (IVLU) is 5.44%, while Horizons NASDAQ-100 Index ETF (HXQ.TO) has a volatility of 7.30%. This indicates that IVLU experiences smaller price fluctuations and is considered to be less risky than HXQ.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IVLUHXQ.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.44%

7.30%

-1.86%

Volatility (6M)

Calculated over the trailing 6-month period

12.85%

13.67%

-0.82%

Volatility (1Y)

Calculated over the trailing 1-year period

15.65%

17.43%

-1.78%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.58%

21.64%

-5.06%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.66%

21.58%

-3.92%

IVLU vs. HXQ.TO - Expense Ratio Comparison

IVLU has a 0.30% expense ratio, which is higher than HXQ.TO's 0.25% expense ratio.

Dividends

IVLU vs. HXQ.TO - Dividend Comparison

IVLU's dividend yield for the trailing twelve months is around 3.28%, while HXQ.TO has not paid dividends to shareholders.

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%
IVLU
iShares MSCI International Value Factor ETF		3.28%3.71%4.46%4.69%3.59%3.47%2.05%3.53%2.82%2.87%2.53%0.93%

Frequently Asked Questions

IVLU and HXQ.TO have a correlation of 0.42, 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 0.30% for IVLU.

IVLU is categorized as Foreign Large Cap Equities, while HXQ.TO is Nasdaq-100. IVLU tracks MSCI World ex USA Enhanced Value Index, while HXQ.TO tracks NASDAQ-100 Index. They also come from different issuers: iShares and Horizons. Their fees differ too: 0.30% for IVLU and 0.25% for HXQ.TO.

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