TQQQ.TO vs. ZNQ.TO
TQQQ.TO (BetaPro 3x Nasdaq-100 Daily Leveraged Bull Alternative ETF) and ZNQ.TO (BMO NASDAQ 100 Equity Index ETF) are both Nasdaq-100 funds - TQQQ.TO tracks the Nasdaq-100 Index while ZNQ.TO tracks the NASDAQ-100 Index. Both are passively managed. Over the past year, TQQQ.TO returned 93.21% vs 39.10% for ZNQ.TO. Their correlation of 0.92 suggests significant overlap in exposure.
Performance
TQQQ.TO vs. ZNQ.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 ZNQ.TO's 20.44% return.
TQQQ.TO
- 1D
- -10.09%
- 1M
- -4.73%
- YTD
- 38.31%
- 6M
- 32.51%
- 1Y
- 93.21%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZNQ.TO
- 1D
- -3.01%
- 1M
- 2.35%
- YTD
- 20.44%
- 6M
- 19.12%
- 1Y
- 39.10%
- 3Y*
- 28.82%
- 5Y*
- 19.03%
- 10Y*
- —
TQQQ.TO vs. ZNQ.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TQQQ.TO BetaPro 3x Nasdaq-100 Daily Leveraged Bull Alternative ETF | 38.31% | 38.56% |
ZNQ.TO BMO NASDAQ 100 Equity Index ETF | 20.44% | 16.62% |
Correlation
The correlation between TQQQ.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 (All Time) Calculated using the full available price history since Jun 17, 2025 | 0.92 |
The correlation between TQQQ.TO and ZNQ.TO has been stable across timeframes, ranging from 0.92 to 0.92 - a consistent structural relationship.
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Return for Risk
TQQQ.TO vs. ZNQ.TO — Risk / Return Rank
TQQQ.TO
ZNQ.TO
TQQQ.TO vs. ZNQ.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 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.
| TQQQ.TO | ZNQ.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.41 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.46 | 3.21 | -0.75 |
| Martin ratioReturn relative to average drawdown | 7.67 | 10.06 | -2.40 |
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Drawdowns
TQQQ.TO vs. ZNQ.TO - Drawdown Comparison
The maximum TQQQ.TO drawdown since its inception was -38.15%, 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 TQQQ.TO and ZNQ.TO.
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Drawdown Indicators
| TQQQ.TO | ZNQ.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.15% | -32.09% | -6.06% |
Max Drawdown (1Y)Largest decline over 1 year | -38.15% | -12.24% | -25.91% |
Max Drawdown (3Y)Largest decline over 3 years | — | -22.67% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -32.09% | — |
Current DrawdownCurrent decline from peak | -14.99% | -3.15% | -11.84% |
Average DrawdownAverage peak-to-trough decline | -8.56% | -6.60% | -1.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.20% | 3.90% | +8.30% |
Volatility
TQQQ.TO vs. ZNQ.TO - Volatility Comparison
BetaPro 3x Nasdaq-100 Daily Leveraged Bull Alternative ETF (TQQQ.TO) has a higher volatility of 27.08% compared to BMO NASDAQ 100 Equity Index ETF (ZNQ.TO) at 8.77%. This indicates that TQQQ.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.
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Volatility by Period
| TQQQ.TO | ZNQ.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 27.08% | 8.77% | +18.31% |
Volatility (6M)Calculated over the trailing 6-month period | 43.38% | 14.20% | +29.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 53.25% | 17.52% | +35.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.03% | 21.11% | +31.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 53.03% | 22.45% | +30.58% |
Dividends
TQQQ.TO vs. ZNQ.TO - Dividend Comparison
TQQQ.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 |
|---|---|---|---|---|---|---|---|---|
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% |
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
With a correlation of 0.92, TQQQ.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.
TQQQ.TO tracks Nasdaq-100 Index, while ZNQ.TO tracks NASDAQ-100 Index. They also come from different issuers: Global X and BMO.
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