TQQQ.TO vs. ZQQ.TO
TQQQ.TO (BetaPro 3x Nasdaq-100 Daily Leveraged Bull Alternative ETF) and ZQQ.TO (BMO NASDAQ 100 Equity (CAD Hedged)) are both Nasdaq-100 funds - TQQQ.TO tracks the Nasdaq-100 Index while ZQQ.TO tracks the NASDAQ-100 Index. Both are passively managed. Over the past year, TQQQ.TO returned 93.21% vs 27.21% for ZQQ.TO. With a 0.99 correlation, they move nearly in lockstep.
Performance
TQQQ.TO vs. ZQQ.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TQQQ.TO achieves a 38.31% return, which is significantly higher than ZQQ.TO's 14.60% return.
TQQQ.TO
- 1D
- -10.09%
- 1M
- -4.73%
- YTD
- 38.31%
- 6M
- 32.51%
- 1Y
- 93.21%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZQQ.TO
- 1D
- -3.53%
- 1M
- -0.90%
- YTD
- 14.60%
- 6M
- 9.55%
- 1Y
- 27.21%
- 3Y*
- 22.33%
- 5Y*
- 13.35%
- 10Y*
- 19.75%
TQQQ.TO vs. ZQQ.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TQQQ.TO BetaPro 3x Nasdaq-100 Daily Leveraged Bull Alternative ETF | 38.31% | 38.56% |
ZQQ.TO BMO NASDAQ 100 Equity (CAD Hedged) | 14.60% | 10.78% |
Correlation
The correlation between TQQQ.TO and ZQQ.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 ZQQ.TO has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TQQQ.TO vs. ZQQ.TO — Risk / Return Rank
TQQQ.TO
ZQQ.TO
TQQQ.TO vs. ZQQ.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 (CAD Hedged) (ZQQ.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 | ZQQ.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.27 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.46 | 1.75 | +0.71 |
| Martin ratioReturn relative to average drawdown | 7.67 | 5.56 | +2.11 |
Loading charts...
Drawdowns
TQQQ.TO vs. ZQQ.TO - Drawdown Comparison
The maximum TQQQ.TO drawdown since its inception was -38.15%, roughly equal to the maximum ZQQ.TO drawdown of -36.39%. Use the drawdown chart below to compare losses from any high point for TQQQ.TO and ZQQ.TO.
Loading charts...
Drawdown Indicators
| TQQQ.TO | ZQQ.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.15% | -36.39% | -1.76% |
Max Drawdown (1Y)Largest decline over 1 year | -38.15% | -15.65% | -22.50% |
Max Drawdown (3Y)Largest decline over 3 years | — | -22.79% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -36.39% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.39% | — |
Current DrawdownCurrent decline from peak | -14.99% | -4.62% | -10.37% |
Average DrawdownAverage peak-to-trough decline | -8.56% | -5.47% | -3.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.20% | 4.91% | +7.29% |
Volatility
TQQQ.TO vs. ZQQ.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 (CAD Hedged) (ZQQ.TO) at 8.93%. This indicates that TQQQ.TO's price experiences larger fluctuations and is considered to be riskier than ZQQ.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TQQQ.TO | ZQQ.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 27.08% | 8.93% | +18.15% |
Volatility (6M)Calculated over the trailing 6-month period | 43.38% | 14.89% | +28.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 53.25% | 18.10% | +35.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.03% | 22.90% | +30.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 53.03% | 22.55% | +30.48% |
Dividends
TQQQ.TO vs. ZQQ.TO - Dividend Comparison
TQQQ.TO has not paid dividends to shareholders, while ZQQ.TO's dividend yield for the trailing twelve months is around 0.23%.
| 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% |
ZQQ.TO BMO NASDAQ 100 Equity (CAD Hedged) | 0.23% | 0.27% | 0.37% | 0.32% | 0.45% | 0.14% | 0.41% | 0.51% | 0.64% | 0.57% | 1.60% | 0.81% |
Frequently Asked Questions
With a correlation of 0.99, TQQQ.TO and ZQQ.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 ZQQ.TO tracks NASDAQ-100 Index. They also come from different issuers: Global X and BMO.
Find the right allocation for TQQQ.TO and ZQQ.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer