QQC-F.TO vs. ZMMK.TO

Last updated Jun 26, 2026

QQC-F.TO (Invesco NASDAQ 100 Index ETF CAD Hedged) and ZMMK.TO (BMO Money Market Fund ETF Series) are both exchange-traded funds - QQC-F.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while ZMMK.TO is a Money Market fund actively managed by BMO. QQC-F.TO is passively managed, while ZMMK.TO is actively managed. Over the past 3 years, QQC-F.TO returned 24.62%/yr vs 3.82%/yr for ZMMK.TO. At a 0.03 correlation, their price movements are largely independent. QQC-F.TO charges 0.20%/yr vs 0.13%/yr for ZMMK.TO.

Performance

QQC-F.TO vs. ZMMK.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 BMO Money Market Fund ETF Series (ZMMK.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 15.07% return, which is significantly higher than ZMMK.TO's 1.11% return.

QQC-F.TO

• 1D: 0.45%
• 1M: -2.15%
• YTD: 15.07%
• 6M: 13.35%
• 1Y: 30.02%
• 3Y*: 24.62%
• 5Y*: 14.51%
• 10Y*: 20.71%

ZMMK.TO

• 1D: 0.00%
• 1M: 0.19%
• YTD: 1.11%
• 6M: 1.15%
• 1Y: 2.48%
• 3Y*: 3.82%
• 5Y*: —
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021
QQC-F.TO Invesco NASDAQ 100 Index ETF CAD Hedged	15.07%	18.79%	24.19%	52.81%	-33.42%	2.76%
ZMMK.TO BMO Money Market Fund ETF Series	1.11%	2.77%	4.94%	4.86%	1.99%	0.04%

Correlation

The correlation between QQC-F.TO and ZMMK.TO is 0.07, 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	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.06
Correlation (All Time) Calculated using the full available price history since Dec 2, 2021	0.03

Return for Risk

QQC-F.TO vs. ZMMK.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: 56
QQC-F.TO Sharpe Ratio Rank: 59
QQC-F.TO Sortino Ratio Rank: 55
QQC-F.TO Omega Ratio Rank: 56
QQC-F.TO Calmar Ratio Rank: 54
QQC-F.TO Martin Ratio Rank: 55

ZMMK.TO

ZMMK.TO Risk / Return Rank: 99
ZMMK.TO Sharpe Ratio Rank: 99
ZMMK.TO Sortino Ratio Rank: 99
ZMMK.TO Omega Ratio Rank: 99
ZMMK.TO Calmar Ratio Rank: 100
ZMMK.TO Martin Ratio Rank: 100

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. ZMMK.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 BMO Money Market Fund ETF Series (ZMMK.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	ZMMK.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.71	9.14	-7.43
Sortino ratio: Return per unit of downside risk	2.30	22.01	-19.71
Omega ratio: Gain probability vs. loss probability	1.30	5.22	-3.92
Calmar ratio: Return relative to maximum drawdown	2.32	62.17	-59.85
Martin ratio: Return relative to average drawdown	8.34	348.18	-339.84

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

The current QQC-F.TO Sharpe Ratio is 1.71, which is lower than the ZMMK.TO Sharpe Ratio of 9.14. The chart below compares the historical Sharpe Ratios of QQC-F.TO and ZMMK.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. ZMMK.TO - Drawdown Comparison

The maximum QQC-F.TO drawdown since its inception was -36.03%, which is greater than ZMMK.TO's maximum drawdown of -0.16%. Use the drawdown chart below to compare losses from any high point for QQC-F.TO and ZMMK.TO.

Drawdown Indicators

	QQC-F.TO	ZMMK.TO	Difference
Max Drawdown Largest peak-to-trough decline	-36.03%	-0.16%	-35.87%
Max Drawdown (1Y) Largest decline over 1 year	-12.98%	-0.04%	-12.94%
Max Drawdown (3Y) Largest decline over 3 years	-22.76%	-0.08%	-22.68%
Max Drawdown (5Y) Largest decline over 5 years	-36.03%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-36.03%	—	—
Current Drawdown Current decline from peak	-4.25%	0.00%	-4.25%
Average Drawdown Average peak-to-trough decline	-5.48%	-0.00%	-5.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.61%	0.01%	+3.60%

Volatility

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

Invesco NASDAQ 100 Index ETF CAD Hedged (QQC-F.TO) has a higher volatility of 8.59% compared to BMO Money Market Fund ETF Series (ZMMK.TO) at 0.07%. This indicates that QQC-F.TO's price experiences larger fluctuations and is considered to be riskier than ZMMK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQC-F.TO	ZMMK.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.59%	0.07%	+8.52%
Volatility (6M) Calculated over the trailing 6-month period	14.26%	0.19%	+14.07%
Volatility (1Y) Calculated over the trailing 1-year period	17.66%	0.27%	+17.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.72%	0.34%	+22.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.64%	0.34%	+22.30%

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

QQC-F.TO has a 0.20% expense ratio, which is higher than ZMMK.TO's 0.13% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

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

QQC-F.TO's dividend yield for the trailing twelve months is around 0.34%, less than ZMMK.TO's 2.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
ZMMK.TO BMO Money Market Fund ETF Series	2.53%	3.02%	4.66%	4.98%	1.95%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

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

QQC-F.TO and ZMMK.TO have a correlation of 0.07, 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 ZMMK.TO?

On fees, ZMMK.TO is cheaper at 0.13% 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 ZMMK.TO?

ZMMK.TO is cheaper with a 0.13% expense ratio, compared with 0.20% for QQC-F.TO.

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

QQC-F.TO is categorized as Nasdaq-100, while ZMMK.TO is Money Market. They also come from different issuers: Invesco and BMO. Their fees differ too: 0.20% for QQC-F.TO and 0.13% for ZMMK.TO.