TDAX vs. QQCL.TO

Last updated Jun 4, 2026

TDAX (TDAQ Lift ETF) and QQCL.TO (Global X Enhanced NASDAQ-100 Covered Call ETF) are both exchange-traded funds - TDAX is a Leveraged Equities fund actively managed by TappAlpha, while QQCL.TO is a Nasdaq-100 fund actively managed by Global X. Both are actively managed. Their correlation of 0.86 suggests significant overlap in exposure. TDAX charges 0.98%/yr vs 0.85%/yr for QQCL.TO.

Performance

TDAX vs. QQCL.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TDAQ Lift ETF (TDAX) and Global X Enhanced NASDAQ-100 Covered Call ETF (QQCL.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

TDAX

• 1D: -0.07%
• 1M: 13.80%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQCL.TO

• 1D: 0.06%
• 1M: 10.16%
• YTD: 19.36%
• 6M: 18.40%
• 1Y: 42.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TDAX vs. QQCL.TO - Yearly Performance Comparison

	2026 (YTD)
TDAX TDAQ Lift ETF	21.51%
QQCL.TO Global X Enhanced NASDAQ-100 Covered Call ETF	17.23%

Correlation

The correlation between TDAX and QQCL.TO is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 8, 2026	0.86

Return for Risk

TDAX vs. QQCL.TO — Risk / Return Rank

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

QQCL.TO

QQCL.TO Risk / Return Rank: 81
QQCL.TO Sharpe Ratio Rank: 84
QQCL.TO Sortino Ratio Rank: 80
QQCL.TO Omega Ratio Rank: 82
QQCL.TO Calmar Ratio Rank: 79
QQCL.TO Martin Ratio Rank: 78

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.

TDAX vs. QQCL.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TDAQ Lift ETF (TDAX) and Global X Enhanced NASDAQ-100 Covered Call ETF (QQCL.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.

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

Sharpe Ratios by Period

	TDAX	QQCL.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.66	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.65	1.44	+1.22

Drawdowns

TDAX vs. QQCL.TO - Drawdown Comparison

The maximum TDAX drawdown since its inception was -14.69%, smaller than the maximum QQCL.TO drawdown of -25.79%. Use the drawdown chart below to compare losses from any high point for TDAX and QQCL.TO.

Drawdown Indicators

	TDAX	QQCL.TO	Difference
Max Drawdown Largest peak-to-trough decline	-14.69%	-25.79%	+11.10%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.29%	—
Current Drawdown Current decline from peak	-0.07%	0.00%	-0.07%
Average Drawdown Average peak-to-trough decline	-3.71%	-2.88%	-0.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.46%	—

Volatility

Volatility by Period

	TDAX	QQCL.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.47%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.86%	—
Volatility (1Y) Calculated over the trailing 1-year period	23.71%	15.90%	+7.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.71%	20.85%	+2.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.71%	20.85%	+2.86%

TDAX vs. QQCL.TO - Expense Ratio Comparison

TDAX has a 0.98% expense ratio, which is higher than QQCL.TO's 0.85% expense ratio.

Dividends

TDAX vs. QQCL.TO - Dividend Comparison

TDAX's dividend yield for the trailing twelve months is around 7.40%, less than QQCL.TO's 13.15% yield.

Position	TTM	2025	2024	2023
QQCL.TO Global X Enhanced NASDAQ-100 Covered Call ETF	13.15%	14.54%	11.87%	3.68%
TDAX TDAQ Lift ETF	7.40%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TDAX and QQCL.TO in my portfolio?

TDAX and QQCL.TO have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TDAX or QQCL.TO?

On fees, QQCL.TO is cheaper at 0.85% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TDAX or QQCL.TO?

QQCL.TO is cheaper with a 0.85% expense ratio, compared with 0.98% for TDAX.

What is the main difference between TDAX and QQCL.TO?

TDAX is categorized as Leveraged Equities, while QQCL.TO is Nasdaq-100. They also come from different issuers: TappAlpha and Global X. Their fees differ too: 0.98% for TDAX and 0.85% for QQCL.TO.