QQCL.TO vs. QQQQ.TO

Last updated Jun 25, 2026

QQCL.TO (Global X Enhanced NASDAQ-100 Covered Call ETF) and QQQQ.TO (Mackenzie NASDAQ 100 Index ETF) are both Nasdaq-100 funds. QQCL.TO is actively managed, while QQQQ.TO is passively managed. A 0.57 correlation means they provide meaningful diversification when combined. QQCL.TO charges 0.85%/yr vs 0.25%/yr for QQQQ.TO.

Performance

QQCL.TO vs. QQQQ.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Enhanced NASDAQ-100 Covered Call ETF (QQCL.TO) and Mackenzie NASDAQ 100 Index ETF (QQQQ.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQCL.TO achieves a 19.56% return, which is significantly lower than QQQQ.TO's 20.92% return.

QQCL.TO

• 1D: -0.54%
• 1M: 0.05%
• YTD: 19.56%
• 6M: 18.43%
• 1Y: 38.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQQQ.TO

• 1D: 0.31%
• 1M: 2.89%
• YTD: 20.92%
• 6M: 19.56%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQCL.TO vs. QQQQ.TO - Yearly Performance Comparison

	2026 (YTD)	2025
QQCL.TO Global X Enhanced NASDAQ-100 Covered Call ETF	19.56%	7.56%
QQQQ.TO Mackenzie NASDAQ 100 Index ETF	20.92%	7.09%

Correlation

The correlation between QQCL.TO and QQQQ.TO is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 19, 2025	0.57

Return for Risk

QQCL.TO vs. QQQQ.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QQCL.TO

QQCL.TO Risk / Return Rank: 76
QQCL.TO Sharpe Ratio Rank: 77
QQCL.TO Sortino Ratio Rank: 72
QQCL.TO Omega Ratio Rank: 76
QQCL.TO Calmar Ratio Rank: 78
QQCL.TO Martin Ratio Rank: 77

QQQQ.TO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

QQCL.TO vs. QQQQ.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 Mackenzie NASDAQ 100 Index ETF (QQQQ.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	QQQQ.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.20	—	—
Sortino ratio: Return per unit of downside risk	2.88	—	—
Omega ratio: Gain probability vs. loss probability	1.40	—	—
Calmar ratio: Return relative to maximum drawdown	3.63	—	—
Martin ratio: Return relative to average drawdown	13.19	—	—

Drawdowns

QQCL.TO vs. QQQQ.TO - Drawdown Comparison

The maximum QQCL.TO drawdown since its inception was -25.63%, which is greater than QQQQ.TO's maximum drawdown of -12.27%. Use the drawdown chart below to compare losses from any high point for QQCL.TO and QQQQ.TO.

Drawdown Indicators

	QQCL.TO	QQQQ.TO	Difference
Max Drawdown Largest peak-to-trough decline	-25.63%	-12.27%	-13.36%
Max Drawdown (1Y) Largest decline over 1 year	-10.70%	—	—
Current Drawdown Current decline from peak	-3.49%	-2.50%	-0.99%
Average Drawdown Average peak-to-trough decline	-3.29%	-3.15%	-0.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.94%	—	—

Volatility

Volatility by Period

	QQCL.TO	QQQQ.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.58%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.69%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.70%	19.19%	-1.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.76%	19.19%	+1.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.76%	19.19%	+1.57%

QQCL.TO vs. QQQQ.TO - Expense Ratio Comparison

QQCL.TO has a 0.85% expense ratio, which is higher than QQQQ.TO's 0.25% expense ratio.

Dividends

QQCL.TO vs. QQQQ.TO - Dividend Comparison

QQCL.TO's dividend yield for the trailing twelve months is around 13.29%, more than QQQQ.TO's 0.09% yield.

Position	TTM	2025	2024	2023
QQCL.TO Global X Enhanced NASDAQ-100 Covered Call ETF	13.29%	14.54%	11.87%	3.68%
QQQQ.TO Mackenzie NASDAQ 100 Index ETF	0.09%	0.11%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QQCL.TO and QQQQ.TO in my portfolio?

QQCL.TO and QQQQ.TO have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QQCL.TO or QQQQ.TO?

On fees, QQQQ.TO is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QQCL.TO or QQQQ.TO?

QQQQ.TO is cheaper with a 0.25% expense ratio, compared with 0.85% for QQCL.TO.

What is the main difference between QQCL.TO and QQQQ.TO?

They also come from different issuers: Global X and Mackenzie. Their fees differ too: 0.85% for QQCL.TO and 0.25% for QQQQ.TO.