QQC-F.TO vs. PFL.TO

Last updated Jul 18, 2026

QQC-F.TO (Invesco NASDAQ 100 Index ETF CAD Hedged) and PFL.TO (Invesco Canadian Government Floating Rate Index ETF) are both exchange-traded funds - QQC-F.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while PFL.TO is a Canadian Government Bonds fund tracking the FTSE Canada Government Floating Rate Note Index. Both are passively managed. Over the past 10 years, QQC-F.TO returned 19.30%/yr vs 2.16%/yr for PFL.TO. At a 0.00 correlation, their price movements are largely independent.

Performance

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

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Invesco NASDAQ 100 Index ETF CAD Hedged (QQC-F.TO) and Invesco Canadian Government Floating Rate Index ETF (PFL.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQC-F.TO achieves a 12.04% return, which is significantly higher than PFL.TO's 1.31% return. Over the past 10 years, QQC-F.TO has outperformed PFL.TO with an annualized return of 19.30%, while PFL.TO has yielded a comparatively lower 2.16% annualized return.

QQC-F.TO

• 1D: -1.32%
• 1M: -3.53%
• 6M: 10.95%
• YTD: 12.04%
• 1Y: 22.02%
• 3Y*: 20.50%
• 5Y*: 13.33%
• 10Y*: 19.30%

PFL.TO

• 1D: 0.00%
• 1M: 0.20%
• 6M: 1.26%
• YTD: 1.31%
• 1Y: 2.72%
• 3Y*: 3.74%
• 5Y*: 3.15%
• 10Y*: 2.16%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QQC-F.TO Invesco NASDAQ 100 Index ETF CAD Hedged	12.04%	18.79%	24.19%	52.81%	-33.42%	27.15%	45.04%	37.63%	-2.23%	31.94%
PFL.TO Invesco Canadian Government Floating Rate Index ETF	1.31%	3.00%	4.53%	5.09%	1.78%	0.25%	0.91%	1.80%	1.09%	1.46%

Correlation

The correlation between QQC-F.TO and PFL.TO is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.06
Correlation (3Y) Calculated over the trailing 3-year period	-0.02
Correlation (5Y) Calculated over the trailing 5-year period	0.01
Correlation (10Y) Calculated over the trailing 10-year period	0.01
Correlation (All Time) Calculated using the full available price history since Aug 18, 2014	0.00

Return for Risk

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

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

QQC-F.TO

QQC-F.TO Risk / Return Rank: 41
QQC-F.TO Sharpe Ratio Rank: 41
QQC-F.TO Sortino Ratio Rank: 38
QQC-F.TO Omega Ratio Rank: 39
QQC-F.TO Calmar Ratio Rank: 40
QQC-F.TO Martin Ratio Rank: 45

PFL.TO

PFL.TO Risk / Return Rank: 98
PFL.TO Sharpe Ratio Rank: 97
PFL.TO Sortino Ratio Rank: 98
PFL.TO Omega Ratio Rank: 97
PFL.TO Calmar Ratio Rank: 99
PFL.TO Martin Ratio Rank: 98

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.

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

This table presents a comparison of risk-adjusted performance metrics for Invesco NASDAQ 100 Index ETF CAD Hedged (QQC-F.TO) and Invesco Canadian Government Floating Rate Index ETF (PFL.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.

	QQC-F.TO	PFL.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.19	3.36	-2.17
Sortino ratio: Return per unit of downside risk	1.67	5.90	-4.23
Omega ratio: Gain probability vs. loss probability	1.21	1.81	-0.59
Calmar ratio: Return relative to maximum drawdown	1.70	17.78	-16.07
Martin ratio: Return relative to average drawdown	5.88	58.11	-52.23

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

The current QQC-F.TO Sharpe Ratio is 1.19, which is lower than the PFL.TO Sharpe Ratio of 3.36. The chart below compares the historical Sharpe Ratios of QQC-F.TO and PFL.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

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

The maximum QQC-F.TO drawdown since its inception was -36.03%, which is greater than PFL.TO's maximum drawdown of -2.07%. Use the drawdown chart below to compare losses from any high point for QQC-F.TO and PFL.TO.

Drawdown Indicators

	QQC-F.TO	PFL.TO	Difference
Max Drawdown Largest peak-to-trough decline	-36.03%	-2.07%	-33.96%
Max Drawdown (1Y) Largest decline over 1 year	-12.98%	-0.15%	-12.83%
Max Drawdown (3Y) Largest decline over 3 years	-22.76%	-0.22%	-22.54%
Max Drawdown (5Y) Largest decline over 5 years	-36.03%	-0.30%	-35.73%
Max Drawdown (10Y) Largest decline over 10 years	-36.03%	-2.07%	-33.96%
Current Drawdown Current decline from peak	-6.77%	0.00%	-6.77%
Average Drawdown Average peak-to-trough decline	-5.48%	-0.08%	-5.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.76%	0.05%	+3.71%

Volatility

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

Invesco NASDAQ 100 Index ETF CAD Hedged (QQC-F.TO) has a higher volatility of 7.42% compared to Invesco Canadian Government Floating Rate Index ETF (PFL.TO) at 0.22%. This indicates that QQC-F.TO's price experiences larger fluctuations and is considered to be riskier than PFL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQC-F.TO	PFL.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.42%	0.22%	+7.20%
Volatility (6M) Calculated over the trailing 6-month period	15.34%	0.55%	+14.79%
Volatility (1Y) Calculated over the trailing 1-year period	18.61%	0.82%	+17.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.85%	0.97%	+21.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.69%	1.33%	+21.36%

Dividends

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

QQC-F.TO's dividend yield for the trailing twelve months is around 0.34%, less than PFL.TO's 2.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PFL.TO Invesco Canadian Government Floating Rate Index ETF	2.63%	2.95%	5.23%	5.13%	2.22%	0.36%	1.21%	2.10%	1.59%	0.95%	0.81%	0.95%
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 QQC-F.TO and PFL.TO in my portfolio?

QQC-F.TO and PFL.TO have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

QQC-F.TO is categorized as Nasdaq-100, while PFL.TO is Canadian Government Bonds. QQC-F.TO tracks NASDAQ-100 Index, while PFL.TO tracks FTSE Canada Government Floating Rate Note Index.