QQQQ.TO vs. FXAIX

Last updated Apr 1, 2026

Compare and contrast key facts about Mackenzie NASDAQ 100 Index ETF (QQQQ.TO) and Fidelity 500 Index Fund (FXAIX).

QQQQ.TO is a passively managed fund by Mackenzie that tracks the performance of the NASDAQ-100 Index. It was launched on Aug 19, 2025. FXAIX is a passively managed fund by Fidelity that tracks the performance of the S&P 500 Index. It was launched on Feb 17, 1988. Both QQQQ.TO and FXAIX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

QQQQ.TO vs. FXAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Mackenzie NASDAQ 100 Index ETF (QQQQ.TO) and Fidelity 500 Index Fund (FXAIX). The values are adjusted to include any dividend payments, if applicable.

QQQQ.TO vs. FXAIX - Yearly Performance Comparison

	2026 (YTD)	2025
QQQQ.TO Mackenzie NASDAQ 100 Index ETF	-6.15%	7.64%
FXAIX Fidelity 500 Index Fund	-5.69%	5.55%

Different Trading Currencies

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

Returns By Period

In the year-to-date period, QQQQ.TO achieves a -6.15% return, which is significantly lower than FXAIX's -5.69% return.

QQQQ.TO

• 1D: 2.02%
• 1M: -3.86%
• YTD: -6.15%
• 6M: -4.26%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FXAIX

• 1D: -0.16%
• 1M: -5.75%
• YTD: -5.69%
• 6M: -4.57%
• 1Y: 10.73%
• 3Y*: 18.34%
• 5Y*: 13.72%
• 10Y*: 14.52%

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

QQQQ.TO vs. FXAIX - Expense Ratio Comparison

QQQQ.TO has a 0.25% expense ratio, which is higher than FXAIX's 0.02% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

QQQQ.TO

Mackenzie NASDAQ 100 Index ETF

FXAIX

Fidelity 500 Index Fund

Return for Risk

QQQQ.TO vs. FXAIX — Risk / Return Rank

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

FXAIX

FXAIX Risk / Return Rank: 46
FXAIX Sharpe Ratio Rank: 41
FXAIX Sortino Ratio Rank: 45
FXAIX Omega Ratio Rank: 50
FXAIX Calmar Ratio Rank: 41
FXAIX Martin Ratio Rank: 53

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.

QQQQ.TO vs. FXAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mackenzie NASDAQ 100 Index ETF (QQQQ.TO) and Fidelity 500 Index Fund (FXAIX). 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.

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

Sharpe Ratios by Period

	QQQQ.TO	FXAIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.67	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.92	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.89	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	1.04	-0.91

Correlation

The correlation between QQQQ.TO and FXAIX is 0.51, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

QQQQ.TO vs. FXAIX - Dividend Comparison

QQQQ.TO's dividend yield for the trailing twelve months is around 0.12%, less than FXAIX's 1.20% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQQ.TO Mackenzie NASDAQ 100 Index ETF	0.12%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FXAIX Fidelity 500 Index Fund	1.20%	1.11%	1.25%	1.45%	1.69%	1.22%	1.60%	2.06%	2.72%	1.97%	2.52%	2.83%

Drawdowns

QQQQ.TO vs. FXAIX - Drawdown Comparison

The maximum QQQQ.TO drawdown since its inception was -11.95%, smaller than the maximum FXAIX drawdown of -27.44%. Use the drawdown chart below to compare losses from any high point for QQQQ.TO and FXAIX.

Drawdown Indicators

	QQQQ.TO	FXAIX	Difference
Max Drawdown Largest peak-to-trough decline	-11.95%	-33.79%	+21.84%
Max Drawdown (1Y) Largest decline over 1 year	—	-12.13%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.79%	—
Current Drawdown Current decline from peak	-10.17%	-8.89%	-1.28%
Average Drawdown Average peak-to-trough decline	-3.94%	-3.83%	-0.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.50%	—

Volatility

Volatility by Period

	QQQQ.TO	FXAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.33%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.19%	—
Volatility (1Y) Calculated over the trailing 1-year period	16.52%	17.95%	-1.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.52%	14.97%	+1.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.52%	16.32%	+0.20%