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QQC.TO vs. PFL.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QQC.TO vs. PFL.TO

Last updated Jul 14, 2026
Documentation

QQC.TO (Invesco NASDAQ 100 Index ETF CAD Hedged) and PFL.TO (Invesco Canadian Government Floating Rate Index ETF) are both exchange-traded funds - QQC.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 5 years, QQC.TO returned 17.79%/yr vs 3.13%/yr for PFL.TO. At a 0.01 correlation, their price movements are largely independent.

Performance

QQC.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.TO) and Invesco Canadian Government Floating Rate Index ETF (PFL.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, QQC.TO achieves a 19.71% return, which is significantly higher than PFL.TO's 1.26% return.

QQC.TO

1D
-1.85%
1M
0.00%
6M
15.94%
YTD
19.71%
1Y
33.26%
3Y*
26.76%
5Y*
17.79%
10Y*
—

PFL.TO

1D
0.00%
1M
0.30%
6M
1.15%
YTD
1.26%
1Y
2.67%
3Y*
3.72%
5Y*
3.13%
10Y*
2.15%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)20252024202320222021
QQC.TO
Invesco NASDAQ 100 Index ETF CAD Hedged		19.71%15.38%35.74%51.68%-28.05%25.39%
PFL.TO
Invesco Canadian Government Floating Rate Index ETF		1.26%3.00%4.53%5.09%1.78%0.18%

Correlation

The correlation between QQC.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

-0.03

Correlation (5Y)
Calculated over the trailing 5-year period

0.01

Correlation (All Time)
Calculated using the full available price history since May 27, 2021

0.01

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco NASDAQ 100 Index ETF CAD Hedged

Invesco Canadian Government Floating Rate Index ETF

Often compared with QQC.TO:
QQC.TO vs. VFV.TOQQC.TO vs. XQQ.TOQQC.TO vs. QQQQQC.TO vs. TEC.TOQQC.TO vs. HXQ.TOQQC.TO vs. QQC-F.TOQQC.TO vs. QQQM
Often compared with PFL.TO:
PFL.TO vs. ESG.TOPFL.TO vs. XLB.TOPFL.TO vs. ZSB.TOPFL.TO vs. XSTB.TOPFL.TO vs. XFR.TOPFL.TO vs. ESGC.TOPFL.TO vs. QQC-F.TO

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QQC.TO
QQC.TO Risk / Return Rank: 6868
Overall Rank
QQC.TO Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
QQC.TO Sortino Ratio Rank: 6767
Sortino Ratio Rank
QQC.TO Omega Ratio Rank: 7070
Omega Ratio Rank
QQC.TO Calmar Ratio Rank: 6969
Calmar Ratio Rank
QQC.TO Martin Ratio Rank: 6060
Martin Ratio Rank
PFL.TO
PFL.TO Risk / Return Rank: 9797
Overall Rank
PFL.TO Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
PFL.TO Sortino Ratio Rank: 9797
Sortino Ratio Rank
PFL.TO Omega Ratio Rank: 9797
Omega Ratio Rank
PFL.TO Calmar Ratio Rank: 9999
Calmar Ratio Rank
PFL.TO Martin Ratio Rank: 9898
Martin Ratio Rank
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.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.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.TOPFL.TODifference
Sharpe ratioReturn per unit of total volatility
1.85
3.26

-1.40

Sortino ratioReturn per unit of downside risk
2.45
5.65

-3.20

Omega ratioGain probability vs. loss probability

1.33

1.77

-0.44

Calmar ratioReturn relative to maximum drawdown

2.75

17.43

-14.68

Martin ratioReturn relative to average drawdown

8.46

56.45

-47.99

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

The current QQC.TO Sharpe Ratio is 1.85, which is lower than the PFL.TO Sharpe Ratio of 3.26. The chart below compares the historical Sharpe Ratios of QQC.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.

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Drawdowns

QQC.TO vs. PFL.TO - Drawdown Comparison

The maximum QQC.TO drawdown since its inception was -31.81%, 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.TO and PFL.TO.

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Drawdown Indicators

QQC.TOPFL.TODifference

Max Drawdown

Largest peak-to-trough decline

-31.81%

-2.07%

-29.74%

Max Drawdown (1Y)

Largest decline over 1 year

-12.14%

-0.15%

-11.99%

Max Drawdown (3Y)

Largest decline over 3 years

-22.58%

-0.22%

-22.36%

Max Drawdown (5Y)

Largest decline over 5 years

-31.81%

-0.30%

-31.51%

Max Drawdown (10Y)

Largest decline over 10 years

—

-2.07%

—

Current Drawdown

Current decline from peak

-3.81%

0.00%

-3.81%

Average Drawdown

Average peak-to-trough decline

-7.93%

-0.08%

-7.85%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.94%

0.05%

+3.89%

Volatility

QQC.TO vs. PFL.TO - Volatility Comparison

Invesco NASDAQ 100 Index ETF CAD Hedged (QQC.TO) has a higher volatility of 8.05% compared to Invesco Canadian Government Floating Rate Index ETF (PFL.TO) at 0.27%. This indicates that QQC.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.

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Volatility by Period

QQC.TOPFL.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

8.05%

0.27%

+7.78%

Volatility (6M)

Calculated over the trailing 6-month period

14.79%

0.56%

+14.23%

Volatility (1Y)

Calculated over the trailing 1-year period

18.05%

0.82%

+17.23%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.26%

0.97%

+20.29%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.06%

1.33%

+19.73%

Dividends

QQC.TO vs. PFL.TO - Dividend Comparison

QQC.TO's dividend yield for the trailing twelve months is around 0.32%, less than PFL.TO's 2.63% yield.

PositionTTM20252024202320222021202020192018201720162015
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.TO
Invesco NASDAQ 100 Index ETF CAD Hedged		0.32%0.39%0.45%0.54%0.91%0.56%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

QQC.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.

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

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