QQQQ.TO vs. QLDY

Last updated Apr 1, 2026

Compare and contrast key facts about Mackenzie NASDAQ 100 Index ETF (QQQQ.TO) and Defiance Nasdaq 100 LightningSpread Income ETF (QLDY).

QQQQ.TO and QLDY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. QLDY is an actively managed fund by Defiance. It was launched on Sep 17, 2025.

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.

QQQQ.TO vs. QLDY - Yearly Performance Comparison

	2026 (YTD)	2025
QQQQ.TO Mackenzie NASDAQ 100 Index ETF	-6.15%	4.84%
QLDY Defiance Nasdaq 100 LightningSpread Income ETF	-9.65%	0.94%

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

In the year-to-date period, QQQQ.TO achieves a -6.15% return, which is significantly higher than QLDY's -9.65% return.

QQQQ.TO

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

QLDY

• 1D: 3.29%
• 1M: -5.23%
• YTD: -9.65%
• 6M: -10.48%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

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.

QLDY

Defiance Nasdaq 100 LightningSpread Income ETF

QQQQ.TO

Mackenzie NASDAQ 100 Index ETF

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	0.12	-0.83	+0.95

Correlation

The correlation between QQQQ.TO and QLDY is 0.61, 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. QLDY - Dividend Comparison

QQQQ.TO's dividend yield for the trailing twelve months is around 0.12%, less than QLDY's 19.61% yield.

	TTM	2025
QQQQ.TO Mackenzie NASDAQ 100 Index ETF	0.12%	0.11%
QLDY Defiance Nasdaq 100 LightningSpread Income ETF	19.61%	9.34%

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%	-17.44%	+5.49%
Current Drawdown Current decline from peak	-10.17%	-14.63%	+4.46%
Average Drawdown Average peak-to-trough decline	-3.94%	-4.74%	+0.80%

Volatility

Volatility by Period

	QQQQ.TO	QLDY	Difference
Volatility (1Y) Calculated over the trailing 1-year period	16.52%	19.34%	-2.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.52%	19.34%	-2.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.52%	19.34%	-2.82%