QLDY vs. QQQQ.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Defiance Nasdaq 100 LightningSpread Income ETF (QLDY) and Mackenzie NASDAQ 100 Index ETF (QQQQ.TO).

QLDY and QQQQ.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QLDY is an actively managed fund by Defiance. It was launched on Sep 17, 2025. QQQQ.TO is a passively managed fund by Mackenzie that tracks the performance of the NASDAQ-100 Index. It was launched on Aug 19, 2025.

Performance

QLDY vs. QQQQ.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Nasdaq 100 LightningSpread Income ETF (QLDY) and Mackenzie NASDAQ 100 Index ETF (QQQQ.TO). The values are adjusted to include any dividend payments, if applicable.

QLDY vs. QQQQ.TO - Yearly Performance Comparison

	2026 (YTD)	2025
QLDY Defiance Nasdaq 100 LightningSpread Income ETF	-10.86%	1.50%
QQQQ.TO Mackenzie NASDAQ 100 Index ETF	-7.35%	5.22%

Different Trading Currencies

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

Returns By Period

In the year-to-date period, QLDY achieves a -10.86% return, which is significantly lower than QQQQ.TO's -7.35% return.

QLDY

• 1D: 3.40%
• 1M: -7.06%
• YTD: -10.86%
• 6M: -10.39%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQQQ.TO

• 1D: 2.13%
• 1M: -5.65%
• YTD: -7.35%
• 6M: -4.14%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QLDY vs. QQQQ.TO - Expense Ratio Comparison

QLDY has a 1.04% expense ratio, which is higher than QQQQ.TO's 0.25% expense ratio.

QLDY

Defiance Nasdaq 100 LightningSpread Income ETF

QQQQ.TO

Mackenzie NASDAQ 100 Index ETF

Return for Risk

QLDY vs. QQQQ.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Nasdaq 100 LightningSpread Income ETF (QLDY) and Mackenzie NASDAQ 100 Index ETF (QQQQ.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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	QLDY	QQQQ.TO	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.88	0.06	-0.94

Correlation

The correlation between QLDY and QQQQ.TO is 0.65, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

QLDY vs. QQQQ.TO - Dividend Comparison

QLDY's dividend yield for the trailing twelve months is around 19.61%, more than QQQQ.TO's 0.12% yield.

	TTM	2025
QLDY Defiance Nasdaq 100 LightningSpread Income ETF	19.61%	9.34%
QQQQ.TO Mackenzie NASDAQ 100 Index ETF	0.12%	0.11%

Drawdowns

QLDY vs. QQQQ.TO - Drawdown Comparison

The maximum QLDY drawdown since its inception was -17.44%, which is greater than QQQQ.TO's maximum drawdown of -11.59%. Use the drawdown chart below to compare losses from any high point for QLDY and QQQQ.TO.

Drawdown Indicators

	QLDY	QQQQ.TO	Difference
Max Drawdown Largest peak-to-trough decline	-17.44%	-11.95%	-5.49%
Current Drawdown Current decline from peak	-14.63%	-10.17%	-4.46%
Average Drawdown Average peak-to-trough decline	-4.74%	-3.94%	-0.80%

Volatility

Volatility by Period

	QLDY	QQQQ.TO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	19.64%	17.07%	+2.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.64%	17.07%	+2.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.64%	17.07%	+2.57%