QQQL.TO vs. QQQM

Last updated Aug 1, 2026

QQQL.TO (Global X Enhanced Nasdaq-100 Index ETF) and QQQM (Invesco NASDAQ 100 ETF) are both Nasdaq-100 funds tracking the NASDAQ-100 Index, from Global X and Invesco respectively. Both are passively managed. Over the past year, QQQL.TO returned 32.85% vs 26.25% for QQQM. Their 0.62 correlation means they have sometimes moved together and sometimes differently. QQQL.TO charges 0.49%/yr vs 0.15%/yr for QQQM.

Performance

QQQL.TO vs. QQQM - Performance Comparison

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

Different Trading Currencies

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

Returns By Period

In the year-to-date period, QQQL.TO achieves a 17.78% return, which is significantly higher than QQQM's 14.89% return.

QQQL.TO

• 1D: 1.29%
• 1M: -6.36%
• 6M: 17.49%
• YTD: 17.78%
• 1Y: 32.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 26.51%

QQQM

• 1D: 0.51%
• 1M: -4.85%
• 6M: 15.19%
• YTD: 14.89%
• 1Y: 26.25%
• 3Y*: 24.85%
• 5Y*: 17.04%
• 10Y*: —
• ALL TIME*: 17.85%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
QQQL.TO Global X Enhanced Nasdaq-100 Index ETF	CA$54.65K	CA$68.99K	CA$73.06K
QQQM Invesco NASDAQ 100 ETF	CA$1.35B	CA$1.28B	CA$1.66B

QQQL.TO vs. QQQM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QQQL.TO Global X Enhanced Nasdaq-100 Index ETF	17.78%	16.12%	21.98%
QQQM Invesco NASDAQ 100 ETF	14.89%	15.33%	17.22%

Correlation

The correlation between QQQL.TO and QQQM is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.66
Correlation (All Time) Calculated using the full available price history since May 27, 2024	0.62

The correlation between QQQL.TO and QQQM has been stable across timeframes, ranging from 0.62 to 0.66 - a consistent structural relationship.

Return for Risk

QQQL.TO vs. QQQM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

QQQL.TO

QQQL.TO Risk / Return Rank: 56
QQQL.TO Sharpe Ratio Rank: 53
QQQL.TO Sortino Ratio Rank: 52
QQQL.TO Omega Ratio Rank: 63
QQQL.TO Calmar Ratio Rank: 64
QQQL.TO Martin Ratio Rank: 48

QQQM

QQQM Risk / Return Rank: 49
QQQM Sharpe Ratio Rank: 48
QQQM Sortino Ratio Rank: 46
QQQM Omega Ratio Rank: 45
QQQM Calmar Ratio Rank: 54
QQQM Martin Ratio Rank: 52

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

QQQL.TO vs. QQQM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Enhanced Nasdaq-100 Index ETF (QQQL.TO) and Invesco NASDAQ 100 ETF (QQQM). 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.

	QQQL.TO	QQQM	Difference
Sharpe ratio: Return per unit of total volatility	1.30	1.25	+0.05
Sortino ratio: Return per unit of downside risk	1.85	1.78	+0.07
Omega ratio: Gain probability vs. loss probability	1.27	1.22	+0.05
Calmar ratio: Return relative to maximum drawdown	2.26	1.98	+0.28
Martin ratio: Return relative to average drawdown	5.56	5.81	-0.24

QQQL.TO vs. QQQM - Sharpe Ratio Comparison

The current QQQL.TO Sharpe Ratio is 1.30, which is comparable to the QQQM Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of QQQL.TO and QQQM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

QQQL.TO vs. QQQM - Drawdown Comparison

The maximum QQQL.TO drawdown since its inception was -27.82%, smaller than the maximum QQQM drawdown of -32.26%. Use the drawdown chart below to compare losses from any high point for QQQL.TO and QQQM.

Drawdown Indicators

	QQQL.TO	QQQM	Difference
Max Drawdown Largest peak-to-trough decline	-27.82%	-32.26%	+4.44%
Max Drawdown (1Y) Largest decline over 1 year	-13.02%	-12.21%	-0.81%
Max Drawdown (3Y) Largest decline over 3 years	—	-22.57%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-32.26%	—
Current Drawdown Current decline from peak	-9.52%	-7.85%	-1.67%
Average Drawdown Average peak-to-trough decline	-4.88%	-7.49%	+2.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.26%	4.16%	+1.10%

Volatility

QQQL.TO vs. QQQM - Volatility Comparison

Global X Enhanced Nasdaq-100 Index ETF (QQQL.TO) has a higher volatility of 7.01% compared to Invesco NASDAQ 100 ETF (QQQM) at 6.63%. This indicates that QQQL.TO's price experiences larger fluctuations and is considered to be riskier than QQQM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQL.TO	QQQM	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.01%	6.63%	+0.38%
Volatility (6M) Calculated over the trailing 6-month period	17.95%	16.13%	+1.82%
Volatility (1Y) Calculated over the trailing 1-year period	22.60%	19.38%	+3.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.25%	23.51%	+2.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.25%	23.26%	+2.99%

QQQL.TO vs. QQQM - Expense Ratio Comparison

QQQL.TO has a 0.49% expense ratio, which is higher than QQQM's 0.15% expense ratio.

Dividends

QQQL.TO vs. QQQM - Dividend Comparison

QQQL.TO has not paid dividends to shareholders, while QQQM's dividend yield for the trailing twelve months is around 0.46%.

Position	TTM	2025	2024	2023	2022	2021	2020
QQQL.TO Global X Enhanced Nasdaq-100 Index ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QQQM Invesco NASDAQ 100 ETF	0.46%	0.50%	0.61%	0.65%	0.83%	0.40%	0.16%

Frequently Asked Questions

Can I hold both QQQL.TO and QQQM in my portfolio?

QQQL.TO and QQQM have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QQQL.TO or QQQM?

On fees, QQQM is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QQQL.TO or QQQM?

QQQM is cheaper with a 0.15% expense ratio, compared with 0.49% for QQQL.TO.

What is the main difference between QQQL.TO and QQQM?

Both ETFs track NASDAQ-100 Index. They also come from different issuers: Global X and Invesco. Their fees differ too: 0.49% for QQQL.TO and 0.15% for QQQM.