TQQQ.TO vs. HEQQ
TQQQ.TO (BetaPro 3x Nasdaq-100 Daily Leveraged Bull Alternative ETF) and HEQQ (JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF) are both Nasdaq-100 funds. Over the past year, TQQQ.TO returned 93.21% vs 18.49% for HEQQ. A 0.74 correlation means they provide meaningful diversification when combined.
Performance
TQQQ.TO vs. HEQQ - Performance Comparison
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Different Trading Currencies
TQQQ.TO is traded in CAD, while HEQQ is traded in USD. To make them comparable, the HEQQ values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, TQQQ.TO achieves a 38.31% return, which is significantly higher than HEQQ's 7.66% return.
TQQQ.TO
- 1D
- -10.09%
- 1M
- -4.73%
- YTD
- 38.31%
- 6M
- 32.51%
- 1Y
- 93.21%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HEQQ
- 1D
- -0.83%
- 1M
- 2.88%
- YTD
- 7.66%
- 6M
- 6.35%
- 1Y
- 18.49%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TQQQ.TO vs. HEQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TQQQ.TO BetaPro 3x Nasdaq-100 Daily Leveraged Bull Alternative ETF | 38.31% | 38.56% |
HEQQ JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF | 7.66% | 11.69% |
Correlation
The correlation between TQQQ.TO and HEQQ is 0.74, 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 | 0.74 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2025 | 0.74 |
The correlation between TQQQ.TO and HEQQ has been stable across timeframes, ranging from 0.74 to 0.74 - a consistent structural relationship.
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Return for Risk
TQQQ.TO vs. HEQQ — Risk / Return Rank
TQQQ.TO
HEQQ
TQQQ.TO vs. HEQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BetaPro 3x Nasdaq-100 Daily Leveraged Bull Alternative ETF (TQQQ.TO) and JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF (HEQQ). 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.
| TQQQ.TO | HEQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.37 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.46 | 2.72 | -0.26 |
| Martin ratioReturn relative to average drawdown | 7.67 | 8.56 | -0.89 |
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Drawdowns
TQQQ.TO vs. HEQQ - Drawdown Comparison
The maximum TQQQ.TO drawdown since its inception was -38.15%, which is greater than HEQQ's maximum drawdown of -7.56%. Use the drawdown chart below to compare losses from any high point for TQQQ.TO and HEQQ.
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Drawdown Indicators
| TQQQ.TO | HEQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.15% | -7.56% | -30.59% |
Max Drawdown (1Y)Largest decline over 1 year | -38.15% | -6.83% | -31.32% |
Current DrawdownCurrent decline from peak | -14.99% | -0.83% | -14.16% |
Average DrawdownAverage peak-to-trough decline | -8.56% | -1.55% | -7.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.20% | 2.16% | +10.04% |
Volatility
TQQQ.TO vs. HEQQ - Volatility Comparison
BetaPro 3x Nasdaq-100 Daily Leveraged Bull Alternative ETF (TQQQ.TO) has a higher volatility of 27.08% compared to JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF (HEQQ) at 2.99%. This indicates that TQQQ.TO's price experiences larger fluctuations and is considered to be riskier than HEQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TQQQ.TO | HEQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 27.08% | 2.99% | +24.09% |
Volatility (6M)Calculated over the trailing 6-month period | 43.38% | 7.28% | +36.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 53.25% | 9.20% | +44.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.03% | 12.05% | +40.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 53.03% | 12.05% | +40.98% |
Dividends
TQQQ.TO vs. HEQQ - Dividend Comparison
TQQQ.TO has not paid dividends to shareholders, while HEQQ's dividend yield for the trailing twelve months is around 0.19%.
| Position | TTM | 2025 |
|---|---|---|
HEQQ JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF | 0.19% | 0.19% |
TQQQ.TO BetaPro 3x Nasdaq-100 Daily Leveraged Bull Alternative ETF | 0.00% | 0.00% |
Frequently Asked Questions
TQQQ.TO and HEQQ have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Global X and JPMorgan.
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