QQQQ.TO vs. QLDY

Last updated Jun 4, 2026

QQQQ.TO (Mackenzie NASDAQ 100 Index ETF) and QLDY (Defiance Nasdaq 100 LightningSpread Income ETF) are both Nasdaq-100 funds. QQQQ.TO is passively managed, while QLDY is actively managed. A 0.55 correlation means they provide meaningful diversification when combined. QQQQ.TO charges 0.25%/yr vs 1.04%/yr for QLDY.

Performance

QQQQ.TO vs. QLDY - Performance Comparison

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

Different Trading Currencies

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

Returns By Period

The year-to-date returns for both stocks are quite close, with QQQQ.TO having a 21.51% return and QLDY slightly lower at 20.80%.

QQQQ.TO

• 1D: 0.62%
• 1M: 13.62%
• YTD: 21.51%
• 6M: 18.69%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QLDY

• 1D: 0.44%
• 1M: 13.86%
• YTD: 20.80%
• 6M: 16.10%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQQQ.TO vs. QLDY - Yearly Performance Comparison

	2026 (YTD)	2025
QQQQ.TO Mackenzie NASDAQ 100 Index ETF	21.51%	4.84%
QLDY Defiance Nasdaq 100 LightningSpread Income ETF	20.80%	0.94%

Correlation

The correlation between QQQQ.TO and QLDY is 0.55, 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 Sep 19, 2025	0.55

Return for Risk

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

This table presents a comparison of risk-adjusted performance metrics for Mackenzie NASDAQ 100 Index ETF (QQQQ.TO) and Defiance Nasdaq 100 LightningSpread Income ETF (QLDY). 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	QLDY	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	2.87	1.71	+1.16

Drawdowns

QQQQ.TO vs. QLDY - Drawdown Comparison

The maximum QQQQ.TO drawdown since its inception was -11.95%, smaller than the maximum QLDY drawdown of -17.78%. Use the drawdown chart below to compare losses from any high point for QQQQ.TO and QLDY.

Drawdown Indicators

	QQQQ.TO	QLDY	Difference
Max Drawdown Largest peak-to-trough decline	-11.95%	-17.78%	+5.83%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.38%	-5.10%	+1.72%

Volatility

Volatility by Period

	QQQQ.TO	QLDY	Difference
Volatility (1Y) Calculated over the trailing 1-year period	17.07%	19.14%	-2.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.07%	19.14%	-2.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.07%	19.14%	-2.07%

QQQQ.TO vs. QLDY - Expense Ratio Comparison

QQQQ.TO has a 0.25% expense ratio, which is lower than QLDY's 1.04% expense ratio.

Dividends

QQQQ.TO vs. QLDY - Dividend Comparison

QQQQ.TO's dividend yield for the trailing twelve months is around 0.09%, less than QLDY's 21.47% yield.

Position	TTM	2025
QLDY Defiance Nasdaq 100 LightningSpread Income ETF	21.47%	9.34%
QQQQ.TO Mackenzie NASDAQ 100 Index ETF	0.09%	0.11%

Frequently Asked Questions

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

QQQQ.TO and QLDY have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QQQQ.TO or QLDY?

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, QQQQ.TO or QLDY?

QQQQ.TO is cheaper with a 0.25% expense ratio, compared with 1.04% for QLDY.

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

They also come from different issuers: Mackenzie and Defiance. Their fees differ too: 0.25% for QQQQ.TO and 1.04% for QLDY.