QQU.TO vs. ZNQ.TO

Last updated Jun 26, 2026

QQU.TO (BetaPro NASDAQ-100 2x Daily Bull ETF) and ZNQ.TO (BMO NASDAQ 100 Equity Index ETF) are both Nasdaq-100 funds tracking the NASDAQ-100 Index, from Global X and BMO respectively. Both are passively managed. Over the past 5 years, QQU.TO returned 18.80%/yr vs 19.16%/yr for ZNQ.TO. Their correlation of 0.88 suggests significant overlap in exposure. QQU.TO charges 1.46%/yr vs 0.39%/yr for ZNQ.TO.

Performance

QQU.TO vs. ZNQ.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BetaPro NASDAQ-100 2x Daily Bull ETF (QQU.TO) and BMO NASDAQ 100 Equity Index ETF (ZNQ.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQU.TO achieves a 28.55% return, which is significantly higher than ZNQ.TO's 20.69% return.

QQU.TO

• 1D: 1.33%
• 1M: -5.10%
• YTD: 28.55%
• 6M: 24.38%
• 1Y: 57.40%
• 3Y*: 41.80%
• 5Y*: 18.80%
• 10Y*: 34.03%

ZNQ.TO

• 1D: 0.53%
• 1M: 0.80%
• YTD: 20.69%
• 6M: 19.25%
• 1Y: 37.24%
• 3Y*: 29.67%
• 5Y*: 19.16%
• 10Y*: —

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

QQU.TO vs. ZNQ.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
QQU.TO BetaPro NASDAQ-100 2x Daily Bull ETF	28.55%	26.77%	40.01%	114.00%	-61.73%	52.24%	83.67%	52.16%
ZNQ.TO BMO NASDAQ 100 Equity Index ETF	20.69%	14.95%	35.84%	51.32%	-28.06%	26.59%	44.65%	22.53%

Correlation

The correlation between QQU.TO and ZNQ.TO is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since Feb 12, 2019	0.88

The correlation between QQU.TO and ZNQ.TO has been stable across timeframes, ranging from 0.88 to 0.93 - a consistent structural relationship.

QQU.TO vs. ZNQ.TO - Sectors Allocation Comparison

Sectors	QQU.TO	ZNQ.TO
Technology	58.5%	56.4%
Communication Services	14.3%	14.9%
Consumer Cyclical	11.4%	11.8%
Consumer Defensive	6.4%	7.2%
Healthcare	3.7%	3.9%
Industrials	2.8%	2.8%
Utilities	1.2%	1.2%
Basic Materials	1.0%	1.1%
Energy	0.5%	0.6%
Financial Services	0.2%	0.2%
Real Estate	0.1%	0.1%

Return for Risk

QQU.TO vs. ZNQ.TO — Risk / Return Rank

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

QQU.TO

QQU.TO Risk / Return Rank: 51
QQU.TO Sharpe Ratio Rank: 55
QQU.TO Sortino Ratio Rank: 48
QQU.TO Omega Ratio Rank: 50
QQU.TO Calmar Ratio Rank: 52
QQU.TO Martin Ratio Rank: 49

ZNQ.TO

ZNQ.TO Risk / Return Rank: 72
ZNQ.TO Sharpe Ratio Rank: 78
ZNQ.TO Sortino Ratio Rank: 72
ZNQ.TO Omega Ratio Rank: 76
ZNQ.TO Calmar Ratio Rank: 70
ZNQ.TO Martin Ratio Rank: 62

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.

QQU.TO vs. ZNQ.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BetaPro NASDAQ-100 2x Daily Bull ETF (QQU.TO) and BMO NASDAQ 100 Equity Index ETF (ZNQ.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.

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.

	QQU.TO	ZNQ.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.63	2.14	-0.52
Sortino ratio: Return per unit of downside risk	2.10	2.80	-0.70
Omega ratio: Gain probability vs. loss probability	1.28	1.39	-0.11
Calmar ratio: Return relative to maximum drawdown	2.23	3.06	-0.83
Martin ratio: Return relative to average drawdown	7.40	9.56	-2.16

QQU.TO vs. ZNQ.TO - Sharpe Ratio Comparison

The current QQU.TO Sharpe Ratio is 1.63, which is comparable to the ZNQ.TO Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of QQU.TO and ZNQ.TO, 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

QQU.TO vs. ZNQ.TO - Drawdown Comparison

The maximum QQU.TO drawdown since its inception was -64.81%, which is greater than ZNQ.TO's maximum drawdown of -32.09%. Use the drawdown chart below to compare losses from any high point for QQU.TO and ZNQ.TO.

Drawdown Indicators

	QQU.TO	ZNQ.TO	Difference
Max Drawdown Largest peak-to-trough decline	-64.81%	-32.09%	-32.72%
Max Drawdown (1Y) Largest decline over 1 year	-25.85%	-12.24%	-13.61%
Max Drawdown (3Y) Largest decline over 3 years	-43.00%	-22.67%	-20.33%
Max Drawdown (5Y) Largest decline over 5 years	-64.81%	-32.09%	-32.72%
Max Drawdown (10Y) Largest decline over 10 years	-64.81%	—	—
Current Drawdown Current decline from peak	-9.02%	-2.95%	-6.07%
Average Drawdown Average peak-to-trough decline	-11.82%	-6.59%	-5.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.78%	3.91%	+3.87%

Volatility

QQU.TO vs. ZNQ.TO - Volatility Comparison

BetaPro NASDAQ-100 2x Daily Bull ETF (QQU.TO) has a higher volatility of 17.94% compared to BMO NASDAQ 100 Equity Index ETF (ZNQ.TO) at 8.65%. This indicates that QQU.TO's price experiences larger fluctuations and is considered to be riskier than ZNQ.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQU.TO	ZNQ.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.94%	8.65%	+9.29%
Volatility (6M) Calculated over the trailing 6-month period	29.11%	14.21%	+14.90%
Volatility (1Y) Calculated over the trailing 1-year period	35.49%	17.45%	+18.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.45%	21.11%	+24.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.09%	22.44%	+22.65%

QQU.TO vs. ZNQ.TO - Expense Ratio Comparison

QQU.TO has a 1.46% expense ratio, which is higher than ZNQ.TO's 0.39% expense ratio.

Dividends

QQU.TO vs. ZNQ.TO - Dividend Comparison

QQU.TO has not paid dividends to shareholders, while ZNQ.TO's dividend yield for the trailing twelve months is around 0.21%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
QQU.TO BetaPro NASDAQ-100 2x Daily Bull ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ZNQ.TO BMO NASDAQ 100 Equity Index ETF	0.21%	0.25%	0.30%	0.35%	0.23%	0.12%	0.47%	0.52%

Frequently Asked Questions

Can I hold both QQU.TO and ZNQ.TO in my portfolio?

With a correlation of 0.92, QQU.TO and ZNQ.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, QQU.TO or ZNQ.TO?

On fees, ZNQ.TO is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QQU.TO or ZNQ.TO?

ZNQ.TO is cheaper with a 0.39% expense ratio, compared with 1.46% for QQU.TO.

What is the main difference between QQU.TO and ZNQ.TO?

Both ETFs track NASDAQ-100 Index. They also come from different issuers: Global X and BMO. Their fees differ too: 1.46% for QQU.TO and 0.39% for ZNQ.TO.