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QQQ vs. ZLB.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QQQ vs. ZLB.TO

Last updated Jun 9, 2026

QQQ (Invesco QQQ ETF) and ZLB.TO (BMO Low Volatility Canadian Equity ETF) are both exchange-traded funds - QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while ZLB.TO is a Canada Equities fund actively managed by BMO. QQQ is passively managed, while ZLB.TO is actively managed. Over the past 10 years, QQQ returned 21.59%/yr vs 9.42%/yr for ZLB.TO. At a 0.37 correlation, their price movements are largely independent. QQQ charges 0.18%/yr vs 0.39%/yr for ZLB.TO.

Performance

QQQ vs. ZLB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ ETF (QQQ) and BMO Low Volatility Canadian Equity ETF (ZLB.TO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

QQQ is traded in USD, while ZLB.TO is traded in CAD. To make them comparable, the ZLB.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, QQQ achieves a 16.71% return, which is significantly higher than ZLB.TO's 2.14% return. Over the past 10 years, QQQ has outperformed ZLB.TO with an annualized return of 21.59%, while ZLB.TO has yielded a comparatively lower 9.42% annualized return.

QQQ

1D
1.56%
1M
0.68%
YTD
16.71%
6M
15.00%
1Y
35.78%
3Y*
27.15%
5Y*
16.98%
10Y*
21.59%

ZLB.TO

1D
-0.93%
1M
-0.55%
YTD
2.14%
6M
0.70%
1Y
10.48%
3Y*
13.02%
5Y*
7.91%
10Y*
9.42%
*Multi-year figures are annualized to reflect compound growth (CAGR)

QQQ vs. ZLB.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
QQQ
Invesco QQQ ETF		16.71%20.77%25.58%54.86%-32.58%27.42%48.62%38.96%-0.13%32.66%
ZLB.TO
BMO Low Volatility Canadian Equity ETF		2.14%26.16%6.31%12.07%-6.29%22.99%3.98%27.16%-10.30%19.18%

Correlation

The correlation between QQQ and ZLB.TO is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.16

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

0.31

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

0.37

Correlation (10Y)
Calculated over the trailing 10-year period

0.37

Correlation (All Time)
Calculated using the full available price history since Oct 28, 2011

0.37

Over the past year, the correlation between QQQ and ZLB.TO has dropped to 0.16 - well below their long-term average of 0.37, suggesting their price drivers have been diverging.

QQQ vs. ZLB.TO - Sectors Allocation Comparison

Sectors
QQQ
ZLB.TO

Technology

53.8%
1.9%

Communication Services

15.8%
9.3%

Consumer Cyclical

12.3%
8.5%

Consumer Defensive

7.7%
18.3%

Healthcare

4.2%

-

Industrials

2.8%
10.0%

Utilities

1.4%
17.6%

Basic Materials

1.1%
6.2%

Energy

0.6%

-

Financial Services

0.2%
23.9%

Real Estate

0.1%
4.3%

Technology

QQQ
53.8%
ZLB.TO
1.9%

Communication Services

QQQ
15.8%
ZLB.TO
9.3%

Consumer Cyclical

QQQ
12.3%
ZLB.TO
8.5%

Consumer Defensive

QQQ
7.7%
ZLB.TO
18.3%

Healthcare

QQQ
4.2%
ZLB.TO

-

Industrials

QQQ
2.8%
ZLB.TO
10.0%

Utilities

QQQ
1.4%
ZLB.TO
17.6%

Basic Materials

QQQ
1.1%
ZLB.TO
6.2%

Energy

QQQ
0.6%
ZLB.TO

-

Financial Services

QQQ
0.2%
ZLB.TO
23.9%

Real Estate

QQQ
0.1%
ZLB.TO
4.3%

Compare stocks, funds, or ETFs

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

Invesco QQQ ETF

BMO Low Volatility Canadian Equity ETF

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Return for Risk

QQQ vs. ZLB.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QQQ
QQQ Risk / Return Rank: 6969
Overall Rank
QQQ Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 6767
Sortino Ratio Rank
QQQ Omega Ratio Rank: 7070
Omega Ratio Rank
QQQ Calmar Ratio Rank: 6666
Calmar Ratio Rank
QQQ Martin Ratio Rank: 6868
Martin Ratio Rank
ZLB.TO
ZLB.TO Risk / Return Rank: 4545
Overall Rank
ZLB.TO Sharpe Ratio Rank: 4343
Sharpe Ratio Rank
ZLB.TO Sortino Ratio Rank: 4040
Sortino Ratio Rank
ZLB.TO Omega Ratio Rank: 4545
Omega Ratio Rank
ZLB.TO Calmar Ratio Rank: 5050
Calmar Ratio Rank
ZLB.TO Martin Ratio Rank: 4545
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.

QQQ vs. ZLB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ ETF (QQQ) and BMO Low Volatility Canadian Equity ETF (ZLB.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.

QQQZLB.TODifference
Sharpe ratioReturn per unit of total volatility
2.15
1.05

+1.10

Sortino ratioReturn per unit of downside risk
2.77
1.46

+1.32

Omega ratioGain probability vs. loss probability

1.38

1.20

+0.18

Calmar ratioReturn relative to maximum drawdown

3.00

1.72

+1.29

Martin ratioReturn relative to average drawdown

11.43

4.69

+6.74

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QQQ vs. ZLB.TO - Sharpe Ratio Comparison

The current QQQ Sharpe Ratio is 2.15, which is higher than the ZLB.TO Sharpe Ratio of 1.05. The chart below compares the historical Sharpe Ratios of QQQ and ZLB.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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Sharpe Ratios by Period

QQQZLB.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.15

1.05

+1.10

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.76

0.68

+0.08

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.97

0.68

+0.29

Sharpe Ratio (All Time)

Calculated using the full available price history

0.40

0.75

-0.35

Drawdowns

QQQ vs. ZLB.TO - Drawdown Comparison

The maximum QQQ drawdown since its inception was -82.97%, which is greater than ZLB.TO's maximum drawdown of -39.55%. Use the drawdown chart below to compare losses from any high point for QQQ and ZLB.TO.

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Drawdown Indicators

QQQZLB.TODifference

Max Drawdown

Largest peak-to-trough decline

-82.97%

-39.55%

-43.42%

Max Drawdown (1Y)

Largest decline over 1 year

-11.96%

-6.13%

-5.83%

Max Drawdown (3Y)

Largest decline over 3 years

-22.77%

-12.27%

-10.50%

Max Drawdown (5Y)

Largest decline over 5 years

-35.12%

-20.63%

-14.49%

Max Drawdown (10Y)

Largest decline over 10 years

-35.12%

-39.55%

+4.43%

Current Drawdown

Current decline from peak

-4.03%

-2.58%

-1.45%

Average Drawdown

Average peak-to-trough decline

-32.77%

-4.09%

-28.68%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.14%

2.24%

+0.90%

Volatility

QQQ vs. ZLB.TO - Volatility Comparison

Invesco QQQ ETF (QQQ) has a higher volatility of 6.84% compared to BMO Low Volatility Canadian Equity ETF (ZLB.TO) at 2.82%. This indicates that QQQ's price experiences larger fluctuations and is considered to be riskier than ZLB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

QQQZLB.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.84%

2.82%

+4.02%

Volatility (6M)

Calculated over the trailing 6-month period

13.20%

8.11%

+5.09%

Volatility (1Y)

Calculated over the trailing 1-year period

16.74%

10.02%

+6.72%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.49%

11.65%

+10.84%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.36%

13.91%

+8.45%

QQQ vs. ZLB.TO - Expense Ratio Comparison

QQQ has a 0.18% expense ratio, which is lower than ZLB.TO's 0.39% expense ratio.

Dividends

QQQ vs. ZLB.TO - Dividend Comparison

QQQ's dividend yield for the trailing twelve months is around 0.39%, less than ZLB.TO's 1.91% yield.

PositionTTM20252024202320222021202020192018201720162015
QQQ
Invesco QQQ ETF		0.39%0.45%0.56%0.62%0.80%0.43%0.55%0.74%0.91%0.84%1.06%0.99%
ZLB.TO
BMO Low Volatility Canadian Equity ETF		1.91%1.99%2.37%2.67%2.66%2.39%2.83%2.44%2.76%2.55%2.94%2.34%

Frequently Asked Questions

QQQ and ZLB.TO have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, QQQ is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

QQQ is cheaper with a 0.18% expense ratio, compared with 0.39% for ZLB.TO.

QQQ is categorized as Nasdaq-100, while ZLB.TO is Canada Equities. They also come from different issuers: Invesco and BMO. Their fees differ too: 0.18% for QQQ and 0.39% for ZLB.TO.

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