MDA.TO vs. HXQ.TO
MDA.TO (MDA Space Ltd.) is a stock, while HXQ.TO (Horizons NASDAQ-100 Index ETF) is Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 5 years, MDA.TO returned 30.38%/yr vs 20.99%/yr for HXQ.TO. At a 0.30 correlation, their price movements are largely independent.
Performance
MDA.TO vs. HXQ.TO - Performance Comparison
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Returns By Period
In the year-to-date period, MDA.TO achieves a 114.15% return, which is significantly higher than HXQ.TO's 22.16% return.
MDA.TO
- 1D
- 2.17%
- 1M
- 37.07%
- YTD
- 114.15%
- 6M
- 125.14%
- 1Y
- 100.04%
- 3Y*
- 91.37%
- 5Y*
- 30.38%
- 10Y*
- —
HXQ.TO
- 1D
- -0.56%
- 1M
- 10.93%
- YTD
- 22.16%
- 6M
- 18.60%
- 1Y
- 42.76%
- 3Y*
- 29.73%
- 5Y*
- 20.99%
- 10Y*
- 22.52%
MDA.TO vs. HXQ.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MDA.TO MDA Space Ltd. | 114.15% | -9.79% | 156.34% | 80.00% | -32.63% | -34.71% |
HXQ.TO Horizons NASDAQ-100 Index ETF | 22.16% | 15.05% | 35.98% | 51.16% | -27.84% | 20.35% |
Correlation
The correlation between MDA.TO and HXQ.TO is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2021 | 0.30 |
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Return for Risk
MDA.TO vs. HXQ.TO — Risk / Return Rank
MDA.TO
HXQ.TO
MDA.TO vs. HXQ.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MDA Space Ltd. (MDA.TO) 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.
| MDA.TO | HXQ.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.17 | ||
| Sortino ratioReturn per unit of downside risk | -1.57 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.48 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.87 | 3.46 | -1.59 |
| Martin ratioReturn relative to average drawdown | 4.03 | 11.12 | -7.09 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MDA.TO | HXQ.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.58 | 2.75 | -1.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.62 | 1.02 | -0.39 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.09 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.62 | 1.08 | -0.46 |
Drawdowns
MDA.TO vs. HXQ.TO - Drawdown Comparison
The maximum MDA.TO drawdown since its inception was -68.33%, which is greater than HXQ.TO's maximum drawdown of -31.60%. Use the drawdown chart below to compare losses from any high point for MDA.TO and HXQ.TO.
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Drawdown Indicators
| MDA.TO | HXQ.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.33% | -31.60% | -36.73% |
Max Drawdown (1Y)Largest decline over 1 year | -53.77% | -12.43% | -41.34% |
Max Drawdown (3Y)Largest decline over 3 years | -53.77% | -22.58% | -31.19% |
Max Drawdown (5Y)Largest decline over 5 years | -65.68% | -31.60% | -34.08% |
Max Drawdown (10Y)Largest decline over 10 years | — | -31.60% | — |
Current DrawdownCurrent decline from peak | -15.02% | -0.56% | -14.46% |
Average DrawdownAverage peak-to-trough decline | -30.71% | -5.75% | -24.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.89% | 3.86% | +21.03% |
Volatility
MDA.TO vs. HXQ.TO - Volatility Comparison
MDA Space Ltd. (MDA.TO) has a higher volatility of 19.28% compared to Horizons NASDAQ-100 Index ETF (HXQ.TO) at 4.70%. This indicates that MDA.TO's price experiences larger fluctuations and is considered to be riskier 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
| MDA.TO | HXQ.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.28% | 4.70% | +14.58% |
Volatility (6M)Calculated over the trailing 6-month period | 44.43% | 11.82% | +32.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 63.70% | 15.61% | +48.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.08% | 20.75% | +28.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.21% | 20.83% | +28.38% |
Dividends
MDA.TO vs. HXQ.TO - Dividend Comparison
Neither MDA.TO nor HXQ.TO has paid dividends to shareholders.
Frequently Asked Questions
MDA.TO and HXQ.TO have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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