QQCL.TO vs. HEQT.TO
QQCL.TO (Global X Enhanced NASDAQ-100 Covered Call ETF) and HEQT.TO (Global X All-Equity Asset Allocation ETF) are both exchange-traded funds - QQCL.TO is a Nasdaq-100 fund actively managed by Global X, while HEQT.TO is a Global Equities fund actively managed by Global X. Both are actively managed. Over the past year, QQCL.TO returned 28.37% vs 27.88% for HEQT.TO. Their 0.77 correlation means they have sometimes moved together and sometimes differently. QQCL.TO charges 0.85%/yr vs 0.24%/yr for HEQT.TO.
Performance
QQCL.TO vs. HEQT.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with QQCL.TO having a 14.15% return and HEQT.TO slightly lower at 14.01%.
QQCL.TO
- 1D
- 1.28%
- 1M
- -5.74%
- 6M
- 13.14%
- YTD
- 14.15%
- 1Y
- 28.37%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 26.10%
HEQT.TO
- 1D
- 0.08%
- 1M
- -1.89%
- 6M
- 11.56%
- YTD
- 14.01%
- 1Y
- 27.88%
- 3Y*
- 20.21%
- 5Y*
- 12.25%
- 10Y*
- —
- ALL TIME*
- 14.72%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$118.97K | CA$166.70K | CA$187.80K | |
| CA$1.23M | CA$1.27M | CA$1.40M |
QQCL.TO vs. HEQT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
QQCL.TO Global X Enhanced NASDAQ-100 Covered Call ETF | 14.15% | 13.10% | 41.38% | 4.96% |
HEQT.TO Global X All-Equity Asset Allocation ETF | 14.01% | 19.82% | 23.83% | 7.50% |
Correlation
The correlation between QQCL.TO and HEQT.TO is 0.81, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.81 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2023 | 0.77 |
The correlation between QQCL.TO and HEQT.TO has been stable across timeframes, ranging from 0.77 to 0.81 - a consistent structural relationship.
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Return for Risk
QQCL.TO vs. HEQT.TO — Risk / Return Rank
QQCL.TO
HEQT.TO
QQCL.TO vs. HEQT.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Enhanced NASDAQ-100 Covered Call ETF (QQCL.TO) and Global X All-Equity Asset Allocation ETF (HEQT.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.
| QQCL.TO | HEQT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.71 | ||
| Sortino ratioReturn per unit of downside risk | -1.00 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.37 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.08 | 3.10 | -1.02 |
| Martin ratioReturn relative to average drawdown | 7.36 | 12.95 | -5.59 |
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Drawdowns
QQCL.TO vs. HEQT.TO - Drawdown Comparison
The maximum QQCL.TO drawdown since its inception was -25.63%, smaller than the maximum HEQT.TO drawdown of -31.82%. Use the drawdown chart below to compare losses from any high point for QQCL.TO and HEQT.TO.
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Drawdown Indicators
| QQCL.TO | HEQT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.63% | -31.82% | +6.19% |
Max Drawdown (1Y)Largest decline over 1 year | -12.29% | -8.49% | -3.80% |
Max Drawdown (3Y)Largest decline over 3 years | — | -15.33% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.89% | — |
Current DrawdownCurrent decline from peak | -8.07% | -2.05% | -6.02% |
Average DrawdownAverage peak-to-trough decline | -3.35% | -5.10% | +1.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.47% | 2.03% | +1.44% |
Volatility
QQCL.TO vs. HEQT.TO - Volatility Comparison
Global X Enhanced NASDAQ-100 Covered Call ETF (QQCL.TO) has a higher volatility of 7.67% compared to Global X All-Equity Asset Allocation ETF (HEQT.TO) at 3.85%. This indicates that QQCL.TO's price experiences larger fluctuations and is considered to be riskier than HEQT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QQCL.TO | HEQT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.67% | 3.85% | +3.82% |
Volatility (6M)Calculated over the trailing 6-month period | 16.69% | 10.92% | +5.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.59% | 13.07% | +6.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.05% | 15.03% | +6.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.05% | 16.83% | +4.22% |
QQCL.TO vs. HEQT.TO - Expense Ratio Comparison
QQCL.TO has a 0.85% expense ratio, which is higher than HEQT.TO's 0.24% expense ratio.
Dividends
QQCL.TO vs. HEQT.TO - Dividend Comparison
QQCL.TO's dividend yield for the trailing twelve months is around 14.39%, more than HEQT.TO's 1.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
HEQT.TO Global X All-Equity Asset Allocation ETF | 1.51% | 1.70% | 1.67% | 0.84% | 0.03% | 0.02% | 1.40% | 0.22% |
QQCL.TO Global X Enhanced NASDAQ-100 Covered Call ETF | 14.39% | 14.54% | 11.87% | 3.68% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
QQCL.TO and HEQT.TO have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HEQT.TO is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HEQT.TO is cheaper with a 0.24% expense ratio, compared with 0.85% for QQCL.TO.
QQCL.TO is categorized as Nasdaq-100, while HEQT.TO is Global Equities. Their fees differ too: 0.85% for QQCL.TO and 0.24% for HEQT.TO.
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