QQC-F.TO vs. TLV.TO

Last updated Jun 4, 2026

QQC-F.TO (Invesco NASDAQ 100 Index ETF CAD Hedged) and TLV.TO (Invesco S&P/TSX Composite Low Volatility Index ETF) are both exchange-traded funds - QQC-F.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while TLV.TO is a Canada Equities fund tracking the S&P/TSX Composite Low Volatility Index. Both are passively managed. Over the past 10 years, QQC-F.TO returned 20.30%/yr vs 8.58%/yr for TLV.TO. At a 0.39 correlation, their price movements are largely independent. QQC-F.TO charges 0.20%/yr vs 0.33%/yr for TLV.TO.

Performance

QQC-F.TO vs. TLV.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 S&P/TSX Composite Low Volatility Index ETF (TLV.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 19.79% return, which is significantly higher than TLV.TO's 9.97% return. Over the past 10 years, QQC-F.TO has outperformed TLV.TO with an annualized return of 20.30%, while TLV.TO has yielded a comparatively lower 8.58% annualized return.

QQC-F.TO

• 1D: -0.22%
• 1M: 10.71%
• YTD: 19.79%
• 6M: 17.83%
• 1Y: 38.43%
• 3Y*: 26.56%
• 5Y*: 16.33%
• 10Y*: 20.30%

TLV.TO

• 1D: 0.00%
• 1M: 1.61%
• YTD: 9.97%
• 6M: 12.07%
• 1Y: 23.37%
• 3Y*: 18.28%
• 5Y*: 10.64%
• 10Y*: 8.58%

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

QQC-F.TO vs. TLV.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	19.79%	18.41%	24.19%	52.81%	-33.42%	27.15%	45.04%	37.63%	-2.23%	31.94%
TLV.TO Invesco S&P/TSX Composite Low Volatility Index ETF	9.97%	22.51%	20.36%	4.75%	-10.22%	21.67%	-6.10%	22.29%	-6.62%	10.15%

Correlation

The correlation between QQC-F.TO and TLV.TO is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (10Y) Calculated over the trailing 10-year period	0.39
Correlation (All Time) Calculated using the full available price history since May 4, 2012	0.39

Over the past year, the correlation between QQC-F.TO and TLV.TO has dropped to 0.15 - well below their long-term average of 0.39, suggesting their price drivers have been diverging.

QQC-F.TO vs. TLV.TO - Sectors Allocation Comparison

Sectors	QQC-F.TO	TLV.TO
Technology	53.8%	-
Communication Services	15.8%	6.4%
Consumer Cyclical	12.3%	3.1%
Consumer Defensive	7.7%	9.5%
Healthcare	4.2%	1.7%
Industrials	2.8%	3.2%
Utilities	1.4%	14.3%
Basic Materials	1.1%	1.5%
Energy	0.6%	7.8%
Financial Services	0.2%	24.5%
Real Estate	0.1%	27.8%

Return for Risk

QQC-F.TO vs. TLV.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: 66
QQC-F.TO Sharpe Ratio Rank: 73
QQC-F.TO Sortino Ratio Rank: 69
QQC-F.TO Omega Ratio Rank: 68
QQC-F.TO Calmar Ratio Rank: 58
QQC-F.TO Martin Ratio Rank: 60

TLV.TO

TLV.TO Risk / Return Rank: 92
TLV.TO Sharpe Ratio Rank: 90
TLV.TO Sortino Ratio Rank: 93
TLV.TO Omega Ratio Rank: 93
TLV.TO Calmar Ratio Rank: 91
TLV.TO Martin Ratio Rank: 94

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. TLV.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 S&P/TSX Composite Low Volatility Index ETF (TLV.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.

	QQC-F.TO	TLV.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.43	3.13	-0.70
Sortino ratio: Return per unit of downside risk	3.23	4.73	-1.50
Omega ratio: Gain probability vs. loss probability	1.42	1.63	-0.21
Calmar ratio: Return relative to maximum drawdown	2.93	5.68	-2.75
Martin ratio: Return relative to average drawdown	10.91	26.06	-15.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current QQC-F.TO Sharpe Ratio is 2.43, which is comparable to the TLV.TO Sharpe Ratio of 3.13. The chart below compares the historical Sharpe Ratios of QQC-F.TO and TLV.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.

Sharpe Ratios by Period

	QQC-F.TO	TLV.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.43	3.13	-0.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	1.08	-0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.91	0.68	+0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	0.80	+0.13

Drawdowns

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

The maximum QQC-F.TO drawdown since its inception was -36.03%, roughly equal to the maximum TLV.TO drawdown of -37.68%. Use the drawdown chart below to compare losses from any high point for QQC-F.TO and TLV.TO.

Drawdown Indicators

	QQC-F.TO	TLV.TO	Difference
Max Drawdown Largest peak-to-trough decline	-36.03%	-37.68%	+1.65%
Max Drawdown (1Y) Largest decline over 1 year	-13.16%	-4.07%	-9.09%
Max Drawdown (3Y) Largest decline over 3 years	-22.76%	-9.83%	-12.93%
Max Drawdown (5Y) Largest decline over 5 years	-36.03%	-19.36%	-16.67%
Max Drawdown (10Y) Largest decline over 10 years	-36.03%	-37.68%	+1.65%
Current Drawdown Current decline from peak	-0.22%	-1.52%	+1.30%
Average Drawdown Average peak-to-trough decline	-5.50%	-4.07%	-1.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.53%	0.89%	+2.64%

Volatility

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

Invesco NASDAQ 100 Index ETF CAD Hedged (QQC-F.TO) has a higher volatility of 4.49% compared to Invesco S&P/TSX Composite Low Volatility Index ETF (TLV.TO) at 2.82%. This indicates that QQC-F.TO's price experiences larger fluctuations and is considered to be riskier than TLV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQC-F.TO	TLV.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.49%	2.82%	+1.67%
Volatility (6M) Calculated over the trailing 6-month period	12.08%	5.78%	+6.30%
Volatility (1Y) Calculated over the trailing 1-year period	15.89%	7.38%	+8.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.45%	9.94%	+12.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.54%	12.68%	+9.86%

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

QQC-F.TO has a 0.20% expense ratio, which is lower than TLV.TO's 0.33% expense ratio.

Dividends

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

QQC-F.TO has not paid dividends to shareholders, while TLV.TO's dividend yield for the trailing twelve months is around 3.05%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQC-F.TO Invesco NASDAQ 100 Index ETF CAD Hedged	0.00%	0.09%	0.50%	0.57%	0.89%	0.66%	0.49%	0.64%	0.77%	0.66%	0.81%	0.76%
TLV.TO Invesco S&P/TSX Composite Low Volatility Index ETF	3.05%	3.25%	3.40%	4.12%	4.01%	2.49%	2.75%	3.74%	4.28%	3.58%	3.46%	4.08%

Frequently Asked Questions

Can I hold both QQC-F.TO and TLV.TO in my portfolio?

QQC-F.TO and TLV.TO have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

QQC-F.TO is cheaper with a 0.20% expense ratio, compared with 0.33% for TLV.TO.

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

QQC-F.TO is categorized as Nasdaq-100, while TLV.TO is Canada Equities. QQC-F.TO tracks NASDAQ-100 Index, while TLV.TO tracks S&P/TSX Composite Low Volatility Index. Their fees differ too: 0.20% for QQC-F.TO and 0.33% for TLV.TO.