LIFE.TO vs. IBBQ

Last updated Jul 25, 2026

LIFE.TO (Evolve Global Healthcare Enhanced Yield Fund) and IBBQ (Invesco Nasdaq Biotechnology ETF) are both Health & Biotech Equities funds - LIFE.TO tracks the Solactive Global Healthcare 20 Index Canadian Dollar Hedged while IBBQ tracks the Nasdaq Biotechnology Index. Both are passively managed. Over the past 5 years, LIFE.TO returned 4.41%/yr vs 7.75%/yr for IBBQ. A 0.57 correlation means they provide meaningful diversification when combined. LIFE.TO charges 0.65%/yr vs 0.19%/yr for IBBQ.

Performance

LIFE.TO vs. IBBQ - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Evolve Global Healthcare Enhanced Yield Fund (LIFE.TO) and Invesco Nasdaq Biotechnology ETF (IBBQ). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, LIFE.TO achieves a -1.74% return, which is significantly lower than IBBQ's 17.26% return.

LIFE.TO

• 1D: 0.68%
• 1M: 3.88%
• 6M: -3.69%
• YTD: -1.74%
• 1Y: 6.84%
• 3Y*: 4.92%
• 5Y*: 4.41%
• 10Y*: —
• ALL TIME*: 7.58%

IBBQ

• 1D: -0.50%
• 1M: 2.57%
• 6M: 12.00%
• YTD: 17.26%
• 1Y: 48.64%
• 3Y*: 19.96%
• 5Y*: 7.75%
• 10Y*: —
• ALL TIME*: 8.91%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IBBQ Invesco Nasdaq Biotechnology ETF	CA$825.59K	CA$1.60M	CA$1.01M
LIFE.TO Evolve Global Healthcare Enhanced Yield Fund	CA$360.47K	CA$315.51K	CA$445.64K

LIFE.TO vs. IBBQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
LIFE.TO Evolve Global Healthcare Enhanced Yield Fund	-1.74%	12.76%	2.20%	4.15%	0.41%	9.43%
IBBQ Invesco Nasdaq Biotechnology ETF	17.26%	27.24%	7.79%	2.24%	-4.73%	-1.19%

Correlation

The correlation between LIFE.TO and IBBQ is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (All Time) Calculated using the full available price history since Jun 11, 2021	0.57

The correlation between LIFE.TO and IBBQ has been stable across timeframes, ranging from 0.57 to 0.63 - a consistent structural relationship.

Return for Risk

LIFE.TO vs. IBBQ — Risk / Return Rank

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

LIFE.TO

LIFE.TO Risk / Return Rank: 21
LIFE.TO Sharpe Ratio Rank: 22
LIFE.TO Sortino Ratio Rank: 22
LIFE.TO Omega Ratio Rank: 21
LIFE.TO Calmar Ratio Rank: 20
LIFE.TO Martin Ratio Rank: 20

IBBQ

IBBQ Risk / Return Rank: 90
IBBQ Sharpe Ratio Rank: 90
IBBQ Sortino Ratio Rank: 89
IBBQ Omega Ratio Rank: 84
IBBQ Calmar Ratio Rank: 94
IBBQ Martin Ratio Rank: 92

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.

LIFE.TO vs. IBBQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Evolve Global Healthcare Enhanced Yield Fund (LIFE.TO) and Invesco Nasdaq Biotechnology ETF (IBBQ). 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.

	LIFE.TO	IBBQ	Difference
Sharpe ratio: Return per unit of total volatility	0.47	2.37	-1.90
Sortino ratio: Return per unit of downside risk	0.80	3.28	-2.48
Omega ratio: Gain probability vs. loss probability	1.09	1.38	-0.29
Calmar ratio: Return relative to maximum drawdown	0.52	6.05	-5.53
Martin ratio: Return relative to average drawdown	1.20	15.76	-14.56

LIFE.TO vs. IBBQ - Sharpe Ratio Comparison

The current LIFE.TO Sharpe Ratio is 0.47, which is lower than the IBBQ Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of LIFE.TO and IBBQ, 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

LIFE.TO vs. IBBQ - Drawdown Comparison

The maximum LIFE.TO drawdown since its inception was -20.04%, smaller than the maximum IBBQ drawdown of -37.16%. Use the drawdown chart below to compare losses from any high point for LIFE.TO and IBBQ.

Drawdown Indicators

	LIFE.TO	IBBQ	Difference
Max Drawdown Largest peak-to-trough decline	-20.04%	-37.16%	+17.12%
Max Drawdown (1Y) Largest decline over 1 year	-13.29%	-8.08%	-5.21%
Max Drawdown (3Y) Largest decline over 3 years	-16.33%	-21.39%	+5.06%
Max Drawdown (5Y) Largest decline over 5 years	-16.33%	-37.16%	+20.83%
Current Drawdown Current decline from peak	-4.67%	-6.38%	+1.71%
Average Drawdown Average peak-to-trough decline	-4.35%	-12.44%	+8.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.73%	3.10%	+2.63%

Volatility

LIFE.TO vs. IBBQ - Volatility Comparison

The current volatility for Evolve Global Healthcare Enhanced Yield Fund (LIFE.TO) is 5.46%, while Invesco Nasdaq Biotechnology ETF (IBBQ) has a volatility of 6.46%. This indicates that LIFE.TO experiences smaller price fluctuations and is considered to be less risky than IBBQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LIFE.TO	IBBQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.46%	6.46%	-1.00%
Volatility (6M) Calculated over the trailing 6-month period	11.16%	16.21%	-5.05%
Volatility (1Y) Calculated over the trailing 1-year period	14.75%	20.66%	-5.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.62%	22.91%	-9.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.01%	22.77%	-7.76%

LIFE.TO vs. IBBQ - Expense Ratio Comparison

LIFE.TO has a 0.65% expense ratio, which is higher than IBBQ's 0.19% expense ratio.

Dividends

LIFE.TO vs. IBBQ - Dividend Comparison

LIFE.TO's dividend yield for the trailing twelve months is around 12.82%, more than IBBQ's 0.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
IBBQ Invesco Nasdaq Biotechnology ETF	0.80%	0.90%	1.14%	0.81%	0.76%	0.63%	0.00%	0.00%	0.00%
LIFE.TO Evolve Global Healthcare Enhanced Yield Fund	12.82%	11.83%	10.90%	9.24%	8.20%	6.46%	7.09%	6.33%	4.84%

Frequently Asked Questions

Can I hold both LIFE.TO and IBBQ in my portfolio?

LIFE.TO and IBBQ have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LIFE.TO or IBBQ?

On fees, IBBQ is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LIFE.TO or IBBQ?

IBBQ is cheaper with a 0.19% expense ratio, compared with 0.65% for LIFE.TO.

What is the main difference between LIFE.TO and IBBQ?

LIFE.TO tracks Solactive Global Healthcare 20 Index Canadian Dollar Hedged, while IBBQ tracks Nasdaq Biotechnology Index. They also come from different issuers: Evolve Funds Group Inc. and Invesco. Their fees differ too: 0.65% for LIFE.TO and 0.19% for IBBQ.