QQQX.TO vs. QQQL.TO
QQQX.TO (Global X Nasdaq-100 Index ETF) and QQQL.TO (Global X Enhanced Nasdaq-100 Index ETF) are both Nasdaq-100 funds from Global X - QQQX.TO tracks the Nasdaq-100 Index while QQQL.TO tracks the NASDAQ-100 Index. Both are passively managed. Over the past year, QQQX.TO returned 43.61% vs 57.03% for QQQL.TO. A 0.59 correlation means they provide meaningful diversification when combined. QQQX.TO charges 0.15%/yr vs 0.49%/yr for QQQL.TO.
Performance
QQQX.TO vs. QQQL.TO - Performance Comparison
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Returns By Period
In the year-to-date period, QQQX.TO achieves a 22.91% return, which is significantly lower than QQQL.TO's 28.52% return.
QQQX.TO
- 1D
- 0.24%
- 1M
- 13.05%
- YTD
- 22.91%
- 6M
- 19.10%
- 1Y
- 43.61%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QQQL.TO
- 1D
- 0.49%
- 1M
- 16.49%
- YTD
- 28.52%
- 6M
- 24.33%
- 1Y
- 57.03%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QQQX.TO vs. QQQL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
QQQX.TO Global X Nasdaq-100 Index ETF | 22.91% | 14.55% | 18.85% |
QQQL.TO Global X Enhanced Nasdaq-100 Index ETF | 28.52% | 16.16% | 24.06% |
Correlation
The correlation between QQQX.TO and QQQL.TO is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since May 23, 2024 | 0.59 |
The correlation between QQQX.TO and QQQL.TO has been stable across timeframes, ranging from 0.57 to 0.59 - a consistent structural relationship.
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Return for Risk
QQQX.TO vs. QQQL.TO — Risk / Return Rank
QQQX.TO
QQQL.TO
QQQX.TO vs. QQQL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Nasdaq-100 Index ETF (QQQX.TO) and Global X Enhanced Nasdaq-100 Index ETF (QQQL.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.
| QQQX.TO | QQQL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.69 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 3.60 | 4.52 | -0.92 |
| Martin ratioReturn relative to average drawdown | 11.56 | 11.91 | -0.35 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| QQQX.TO | QQQL.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.74 | 3.04 | -0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.44 | 1.39 | +0.06 |
Drawdowns
QQQX.TO vs. QQQL.TO - Drawdown Comparison
The maximum QQQX.TO drawdown since its inception was -22.62%, smaller than the maximum QQQL.TO drawdown of -27.82%. Use the drawdown chart below to compare losses from any high point for QQQX.TO and QQQL.TO.
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Drawdown Indicators
| QQQX.TO | QQQL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.62% | -27.82% | +5.20% |
Max Drawdown (1Y)Largest decline over 1 year | -12.18% | -12.69% | +0.51% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -3.96% | -4.88% | +0.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.78% | 4.80% | -1.02% |
Volatility
QQQX.TO vs. QQQL.TO - Volatility Comparison
The current volatility for Global X Nasdaq-100 Index ETF (QQQX.TO) is 4.73%, while Global X Enhanced Nasdaq-100 Index ETF (QQQL.TO) has a volatility of 5.60%. This indicates that QQQX.TO experiences smaller price fluctuations and is considered to be less risky than QQQL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QQQX.TO | QQQL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.73% | 5.60% | -0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 11.94% | 13.85% | -1.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.02% | 18.89% | -2.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.74% | 25.71% | -4.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.74% | 25.71% | -4.97% |
QQQX.TO vs. QQQL.TO - Expense Ratio Comparison
QQQX.TO has a 0.15% expense ratio, which is lower than QQQL.TO's 0.49% expense ratio.
Dividends
QQQX.TO vs. QQQL.TO - Dividend Comparison
QQQX.TO's dividend yield for the trailing twelve months is around 0.29%, while QQQL.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
QQQL.TO Global X Enhanced Nasdaq-100 Index ETF | 0.00% | 0.00% | 0.00% |
QQQX.TO Global X Nasdaq-100 Index ETF | 0.29% | 0.35% | 0.14% |
Frequently Asked Questions
QQQX.TO and QQQL.TO have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, QQQX.TO is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
QQQX.TO is cheaper with a 0.15% expense ratio, compared with 0.49% for QQQL.TO.
QQQX.TO tracks Nasdaq-100 Index, while QQQL.TO tracks NASDAQ-100 Index. Their fees differ too: 0.15% for QQQX.TO and 0.49% for QQQL.TO.
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