PXS.TO vs. QQC-F.TO

Last updated Jun 17, 2026

PXS.TO (Invesco RAFI U.S. Index ETF II CAD) and QQC-F.TO (Invesco NASDAQ 100 Index ETF CAD Hedged) are both exchange-traded funds - PXS.TO is a Large Cap Value Equities fund tracking the RAFI Fundamental Select US 1000 Index, while QQC-F.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, PXS.TO returned 14.57%/yr vs 20.48%/yr for QQC-F.TO. At a 0.31 correlation, their price movements are largely independent. PXS.TO charges 0.46%/yr vs 0.20%/yr for QQC-F.TO.

Performance

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

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Invesco RAFI U.S. Index ETF II CAD (PXS.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 investments are quite close, with PXS.TO having a 17.13% return and QQC-F.TO slightly higher at 17.54%. Over the past 10 years, PXS.TO has underperformed QQC-F.TO with an annualized return of 14.57%, while QQC-F.TO has yielded a comparatively higher 20.48% annualized return.

PXS.TO

• 1D: 0.02%
• 1M: 5.04%
• YTD: 17.13%
• 6M: 18.30%
• 1Y: 36.32%
• 3Y*: 22.47%
• 5Y*: 15.63%
• 10Y*: 14.57%

QQC-F.TO

• 1D: -1.79%
• 1M: 2.97%
• YTD: 17.54%
• 6M: 18.09%
• 1Y: 34.68%
• 3Y*: 24.44%
• 5Y*: 15.28%
• 10Y*: 20.48%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PXS.TO Invesco RAFI U.S. Index ETF II CAD	17.13%	13.64%	26.23%	12.41%	-2.47%	32.84%	4.71%	21.47%	-1.23%	8.36%
QQC-F.TO Invesco NASDAQ 100 Index ETF CAD Hedged	17.54%	18.79%	24.19%	52.81%	-33.42%	27.15%	45.04%	37.63%	-2.23%	31.94%

Correlation

The correlation between PXS.TO and QQC-F.TO is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (10Y) Calculated over the trailing 10-year period	0.32
Correlation (All Time) Calculated using the full available price history since Apr 20, 2015	0.31

The correlation between PXS.TO and QQC-F.TO shifts across timeframes, from 0.21 (1 year) to 0.34 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

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

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

PXS.TO

PXS.TO Risk / Return Rank: 95
PXS.TO Sharpe Ratio Rank: 95
PXS.TO Sortino Ratio Rank: 95
PXS.TO Omega Ratio Rank: 94
PXS.TO Calmar Ratio Rank: 95
PXS.TO Martin Ratio Rank: 95

QQC-F.TO

QQC-F.TO Risk / Return Rank: 59
QQC-F.TO Sharpe Ratio Rank: 63
QQC-F.TO Sortino Ratio Rank: 59
QQC-F.TO Omega Ratio Rank: 61
QQC-F.TO Calmar Ratio Rank: 55
QQC-F.TO Martin Ratio Rank: 57

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.

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

This table presents a comparison of risk-adjusted performance metrics for Invesco RAFI U.S. Index ETF II CAD (PXS.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.

	PXS.TO	QQC-F.TO	Difference
Sharpe ratio: Return per unit of total volatility	3.36	2.02	+1.34
Sortino ratio: Return per unit of downside risk	4.93	2.68	+2.25
Omega ratio: Gain probability vs. loss probability	1.66	1.35	+0.30
Calmar ratio: Return relative to maximum drawdown	7.58	2.68	+4.89
Martin ratio: Return relative to average drawdown	27.00	9.75	+17.25

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

The current PXS.TO Sharpe Ratio is 3.36, which is higher than the QQC-F.TO Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of PXS.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

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

The maximum PXS.TO drawdown since its inception was -31.87%, smaller than the maximum QQC-F.TO drawdown of -36.03%. Use the drawdown chart below to compare losses from any high point for PXS.TO and QQC-F.TO.

Drawdown Indicators

	PXS.TO	QQC-F.TO	Difference
Max Drawdown Largest peak-to-trough decline	-31.87%	-36.03%	+4.16%
Max Drawdown (1Y) Largest decline over 1 year	-4.88%	-12.98%	+8.10%
Max Drawdown (3Y) Largest decline over 3 years	-16.36%	-22.76%	+6.40%
Max Drawdown (5Y) Largest decline over 5 years	-16.36%	-36.03%	+19.67%
Max Drawdown (10Y) Largest decline over 10 years	-31.87%	-36.03%	+4.16%
Current Drawdown Current decline from peak	0.00%	-2.20%	+2.20%
Average Drawdown Average peak-to-trough decline	-3.36%	-5.49%	+2.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.37%	3.57%	-2.20%

Volatility

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

The current volatility for Invesco RAFI U.S. Index ETF II CAD (PXS.TO) is 3.93%, while Invesco NASDAQ 100 Index ETF CAD Hedged (QQC-F.TO) has a volatility of 7.78%. This indicates that PXS.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

	PXS.TO	QQC-F.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.93%	7.78%	-3.85%
Volatility (6M) Calculated over the trailing 6-month period	8.40%	13.88%	-5.48%
Volatility (1Y) Calculated over the trailing 1-year period	11.04%	17.32%	-6.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.28%	22.66%	-9.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.28%	22.65%	-7.37%

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

PXS.TO has a 0.46% expense ratio, which is higher than QQC-F.TO's 0.20% expense ratio.

Dividends

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

PXS.TO's dividend yield for the trailing twelve months is around 1.23%, more than QQC-F.TO's 0.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PXS.TO Invesco RAFI U.S. Index ETF II CAD	1.23%	1.49%	1.53%	1.53%	1.80%	1.51%	2.51%	1.91%	1.84%	1.50%	1.62%	1.40%
QQC-F.TO Invesco NASDAQ 100 Index ETF CAD Hedged	0.34%	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 PXS.TO and QQC-F.TO in my portfolio?

PXS.TO and QQC-F.TO have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

QQC-F.TO is cheaper with a 0.20% expense ratio, compared with 0.46% for PXS.TO.

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

PXS.TO is categorized as Large Cap Value Equities, while QQC-F.TO is Nasdaq-100. PXS.TO tracks RAFI Fundamental Select US 1000 Index, while QQC-F.TO tracks NASDAQ-100 Index. Their fees differ too: 0.46% for PXS.TO and 0.20% for QQC-F.TO.