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QQCE.TO vs. PZW.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QQCE.TO vs. PZW.TO

Last updated Jun 24, 2026

QQCE.TO (Invesco ESG NASDAQ 100 Index ETF) and PZW.TO (Invesco FTSE RAFI Global Small-Mid ETF) are both exchange-traded funds - QQCE.TO is a Nasdaq-100 fund tracking the NASDAQ-100 ESG Index, while PZW.TO is a Global Equities fund tracking the 50% FTSE RAFI Developed ex US Mid-Small 1500 Index / 50% FTSE RAFI US 1500 Mid-Small Index. Both are passively managed. Over the past 3 years, QQCE.TO returned 30.10%/yr vs 20.29%/yr for PZW.TO. At a 0.23 correlation, their price movements are largely independent.

Performance

QQCE.TO vs. PZW.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Invesco ESG NASDAQ 100 Index ETF (QQCE.TO) and Invesco FTSE RAFI Global Small-Mid ETF (PZW.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, QQCE.TO achieves a 21.09% return, which is significantly higher than PZW.TO's 16.48% return.

QQCE.TO

1D
-2.85%
1M
2.63%
YTD
21.09%
6M
19.96%
1Y
41.59%
3Y*
30.10%
5Y*
—
10Y*
—

PZW.TO

1D
1.10%
1M
4.21%
YTD
16.48%
6M
15.19%
1Y
34.57%
3Y*
20.29%
5Y*
10.96%
10Y*
11.63%
*Multi-year figures are annualized to reflect compound growth (CAGR)

QQCE.TO vs. PZW.TO - Yearly Performance Comparison

2026 (YTD)20252024202320222021
QQCE.TO
Invesco ESG NASDAQ 100 Index ETF		21.09%16.43%36.67%44.13%-25.37%5.14%
PZW.TO
Invesco FTSE RAFI Global Small-Mid ETF		16.48%18.48%16.03%12.88%-10.53%1.15%

Correlation

The correlation between QQCE.TO and PZW.TO is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.23

Correlation (3Y)
Calculated over the trailing 3-year period

0.27

Correlation (All Time)
Calculated using the full available price history since Nov 1, 2021

0.23

Compare stocks, funds, or ETFs

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Invesco ESG NASDAQ 100 Index ETF

Invesco FTSE RAFI Global Small-Mid ETF

Often compared with QQCE.TO:
QQCE.TO vs. QQC-F.TOQQCE.TO vs. QQCI.TOQQCE.TO vs. TLV.TOQQCE.TO vs. XIU.TOQQCE.TO vs. QQC.TOQQCE.TO vs. EQLI.TOQQCE.TO vs. ESG.TO
Often compared with PZW.TO:
PZW.TO vs. EQL.TOPZW.TO vs. TEQT.TOPZW.TO vs. INAI.TOPZW.TO vs. QQC.TOPZW.TO vs. VDU.TOPZW.TO vs. XWD.TOPZW.TO vs. QQC-F.TO

Return for Risk

QQCE.TO vs. PZW.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QQCE.TO
QQCE.TO Risk / Return Rank: 7171
Overall Rank
QQCE.TO Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
QQCE.TO Sortino Ratio Rank: 7272
Sortino Ratio Rank
QQCE.TO Omega Ratio Rank: 7676
Omega Ratio Rank
QQCE.TO Calmar Ratio Rank: 6868
Calmar Ratio Rank
QQCE.TO Martin Ratio Rank: 5959
Martin Ratio Rank
PZW.TO
PZW.TO Risk / Return Rank: 8585
Overall Rank
PZW.TO Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
PZW.TO Sortino Ratio Rank: 8888
Sortino Ratio Rank
PZW.TO Omega Ratio Rank: 8686
Omega Ratio Rank
PZW.TO Calmar Ratio Rank: 8484
Calmar Ratio Rank
PZW.TO Martin Ratio Rank: 8181
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.

QQCE.TO vs. PZW.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco ESG NASDAQ 100 Index ETF (QQCE.TO) and Invesco FTSE RAFI Global Small-Mid ETF (PZW.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.

QQCE.TOPZW.TODifference
Sharpe ratioReturn per unit of total volatility
2.30
2.44

-0.14

Sortino ratioReturn per unit of downside risk
2.95
3.57

-0.61

Omega ratioGain probability vs. loss probability

1.41

1.48

-0.06

Calmar ratioReturn relative to maximum drawdown

3.19

4.07

-0.88

Martin ratioReturn relative to average drawdown

9.62

14.54

-4.92

QQCE.TO vs. PZW.TO - Sharpe Ratio Comparison

The current QQCE.TO Sharpe Ratio is 2.30, which is comparable to the PZW.TO Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of QQCE.TO and PZW.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

QQCE.TO vs. PZW.TO - Drawdown Comparison

The maximum QQCE.TO drawdown since its inception was -30.86%, roughly equal to the maximum PZW.TO drawdown of -32.45%. Use the drawdown chart below to compare losses from any high point for QQCE.TO and PZW.TO.

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Drawdown Indicators

QQCE.TOPZW.TODifference

Max Drawdown

Largest peak-to-trough decline

-30.86%

-32.45%

+1.59%

Max Drawdown (1Y)

Largest decline over 1 year

-13.16%

-8.50%

-4.66%

Max Drawdown (3Y)

Largest decline over 3 years

-23.05%

-16.88%

-6.17%

Max Drawdown (5Y)

Largest decline over 5 years

—

-22.13%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-32.45%

—

Current Drawdown

Current decline from peak

-3.01%

0.00%

-3.01%

Average Drawdown

Average peak-to-trough decline

-8.63%

-5.73%

-2.90%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.35%

2.38%

+1.97%

Volatility

QQCE.TO vs. PZW.TO - Volatility Comparison

Invesco ESG NASDAQ 100 Index ETF (QQCE.TO) has a higher volatility of 8.70% compared to Invesco FTSE RAFI Global Small-Mid ETF (PZW.TO) at 3.07%. This indicates that QQCE.TO's price experiences larger fluctuations and is considered to be riskier than PZW.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

QQCE.TOPZW.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

8.70%

3.07%

+5.63%

Volatility (6M)

Calculated over the trailing 6-month period

14.68%

10.46%

+4.22%

Volatility (1Y)

Calculated over the trailing 1-year period

18.27%

14.19%

+4.08%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.94%

14.66%

+6.28%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.94%

15.94%

+5.00%

Dividends

QQCE.TO vs. PZW.TO - Dividend Comparison

QQCE.TO's dividend yield for the trailing twelve months is around 0.26%, less than PZW.TO's 1.67% yield.

PositionTTM20252024202320222021202020192018201720162015
PZW.TO
Invesco FTSE RAFI Global Small-Mid ETF		1.67%1.97%2.12%3.23%1.90%1.93%1.52%2.26%1.78%1.57%1.09%0.96%
QQCE.TO
Invesco ESG NASDAQ 100 Index ETF		0.26%0.32%0.38%0.44%0.79%0.14%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

QQCE.TO and PZW.TO have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

QQCE.TO is categorized as Nasdaq-100, while PZW.TO is Global Equities. QQCE.TO tracks NASDAQ-100 ESG Index, while PZW.TO tracks 50% FTSE RAFI Developed ex US Mid-Small 1500 Index / 50% FTSE RAFI US 1500 Mid-Small Index.

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