TQQQ.TO vs. XQQ.TO
TQQQ.TO (BetaPro 3x Nasdaq-100 Daily Leveraged Bull Alternative ETF) and XQQ.TO (iShares NASDAQ 100 Index ETF (CAD-Hedged)) are both Nasdaq-100 funds - TQQQ.TO tracks the Nasdaq-100 Index while XQQ.TO tracks the Morningstar US Market TR CAD. Both are passively managed. Over the past year, TQQQ.TO returned 93.21% vs 28.76% for XQQ.TO. With a 0.99 correlation, they move nearly in lockstep.
Performance
TQQQ.TO vs. XQQ.TO - Performance Comparison
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Returns By Period
In the year-to-date period, TQQQ.TO achieves a 38.31% return, which is significantly higher than XQQ.TO's 14.79% return.
TQQQ.TO
- 1D
- -10.09%
- 1M
- -4.73%
- YTD
- 38.31%
- 6M
- 32.51%
- 1Y
- 93.21%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XQQ.TO
- 1D
- -3.37%
- 1M
- -0.63%
- YTD
- 14.79%
- 6M
- 10.88%
- 1Y
- 28.76%
- 3Y*
- 23.27%
- 5Y*
- 13.29%
- 10Y*
- 20.33%
TQQQ.TO vs. XQQ.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TQQQ.TO BetaPro 3x Nasdaq-100 Daily Leveraged Bull Alternative ETF | 38.31% | 38.56% |
XQQ.TO iShares NASDAQ 100 Index ETF (CAD-Hedged) | 14.79% | 11.77% |
Correlation
The correlation between TQQQ.TO and XQQ.TO is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2025 | 0.99 |
The correlation between TQQQ.TO and XQQ.TO has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.
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Return for Risk
TQQQ.TO vs. XQQ.TO — Risk / Return Rank
TQQQ.TO
XQQ.TO
TQQQ.TO vs. XQQ.TO - 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 iShares NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.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.
| TQQQ.TO | XQQ.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.29 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.46 | 1.97 | +0.49 |
| Martin ratioReturn relative to average drawdown | 7.67 | 6.51 | +1.16 |
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Drawdowns
TQQQ.TO vs. XQQ.TO - Drawdown Comparison
The maximum TQQQ.TO drawdown since its inception was -38.15%, roughly equal to the maximum XQQ.TO drawdown of -38.25%. Use the drawdown chart below to compare losses from any high point for TQQQ.TO and XQQ.TO.
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Drawdown Indicators
| TQQQ.TO | XQQ.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.15% | -38.25% | +0.10% |
Max Drawdown (1Y)Largest decline over 1 year | -38.15% | -14.68% | -23.47% |
Max Drawdown (3Y)Largest decline over 3 years | — | -22.72% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -38.25% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.25% | — |
Current DrawdownCurrent decline from peak | -14.99% | -4.45% | -10.54% |
Average DrawdownAverage peak-to-trough decline | -8.56% | -5.95% | -2.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.20% | 4.43% | +7.77% |
Volatility
TQQQ.TO vs. XQQ.TO - Volatility Comparison
BetaPro 3x Nasdaq-100 Daily Leveraged Bull Alternative ETF (TQQQ.TO) has a higher volatility of 27.08% compared to iShares NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.TO) at 8.86%. This indicates that TQQQ.TO's price experiences larger fluctuations and is considered to be riskier than XQQ.TO 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 | XQQ.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 27.08% | 8.86% | +18.22% |
Volatility (6M)Calculated over the trailing 6-month period | 43.38% | 14.61% | +28.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 53.25% | 17.95% | +35.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.03% | 22.86% | +30.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 53.03% | 22.50% | +30.53% |
Dividends
TQQQ.TO vs. XQQ.TO - Dividend Comparison
TQQQ.TO has not paid dividends to shareholders, while XQQ.TO's dividend yield for the trailing twelve months is around 0.22%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TQQQ.TO BetaPro 3x Nasdaq-100 Daily Leveraged Bull Alternative ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XQQ.TO iShares NASDAQ 100 Index ETF (CAD-Hedged) | 0.22% | 0.25% | 0.67% | 0.93% | 1.27% | 0.52% | 0.80% | 1.44% | 1.61% | 1.64% | 2.35% | 1.93% |
Frequently Asked Questions
With a correlation of 0.99, TQQQ.TO and XQQ.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.
TQQQ.TO tracks Nasdaq-100 Index, while XQQ.TO tracks Morningstar US Market TR CAD. They also come from different issuers: Global X and iShares.
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