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VEE.TO vs. ZQQ.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VEE.TO vs. ZQQ.TO

Last updated Jun 4, 2026

VEE.TO (Vanguard FTSE Emerging Markets All Cap Index ETF) and ZQQ.TO (BMO NASDAQ 100 Equity (CAD Hedged)) are both exchange-traded funds - VEE.TO is a Emerging Markets Equities fund tracking the FTSE Emerging Markets All Cap China A Inclusion Index, while ZQQ.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, VEE.TO returned 9.01%/yr vs 20.08%/yr for ZQQ.TO. A 0.59 correlation means they provide meaningful diversification when combined. VEE.TO charges 0.25%/yr vs 0.39%/yr for ZQQ.TO.

Performance

VEE.TO vs. ZQQ.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.TO) and BMO NASDAQ 100 Equity (CAD Hedged) (ZQQ.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VEE.TO achieves a 13.54% return, which is significantly lower than ZQQ.TO's 19.82% return. Over the past 10 years, VEE.TO has underperformed ZQQ.TO with an annualized return of 9.01%, while ZQQ.TO has yielded a comparatively higher 20.08% annualized return.

VEE.TO

1D
-0.90%
1M
4.93%
YTD
13.54%
6M
12.96%
1Y
31.71%
3Y*
18.62%
5Y*
7.50%
10Y*
9.01%

ZQQ.TO

1D
-0.28%
1M
10.63%
YTD
19.82%
6M
18.08%
1Y
38.53%
3Y*
26.42%
5Y*
16.12%
10Y*
20.08%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VEE.TO vs. ZQQ.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VEE.TO
Vanguard FTSE Emerging Markets All Cap Index ETF		13.54%19.32%19.06%6.24%-12.78%0.05%12.32%14.33%-7.95%22.55%
ZQQ.TO
BMO NASDAQ 100 Equity (CAD Hedged)		19.82%18.38%24.00%52.52%-33.75%26.68%45.33%37.08%-2.29%31.51%

Correlation

The correlation between VEE.TO and ZQQ.TO is 0.67, 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

0.67

Correlation (3Y)
Calculated over the trailing 3-year period

0.58

Correlation (5Y)
Calculated over the trailing 5-year period

0.54

Correlation (10Y)
Calculated over the trailing 10-year period

0.59

Correlation (All Time)
Calculated using the full available price history since Dec 7, 2011

0.59

The correlation between VEE.TO and ZQQ.TO shifts across timeframes, from 0.54 (5 years) to 0.67 (1 year), reflecting how their relationship changes across market environments.

VEE.TO vs. ZQQ.TO - Sectors Allocation Comparison

Sectors
VEE.TO
ZQQ.TO

Technology

26.3%
54.1%

Financial Services

20.5%
0.2%

Consumer Cyclical

11.2%
12.2%

Basic Materials

8.4%
1.2%

Industrials

7.9%
3.1%

Communication Services

7.8%
15.5%

Energy

4.7%
0.6%

Healthcare

4.1%
4.2%

Consumer Defensive

3.9%
7.6%

Utilities

3.0%
1.4%

Real Estate

2.3%
0.1%

Technology

VEE.TO
26.3%
ZQQ.TO
54.1%

Financial Services

VEE.TO
20.5%
ZQQ.TO
0.2%

Consumer Cyclical

VEE.TO
11.2%
ZQQ.TO
12.2%

Basic Materials

VEE.TO
8.4%
ZQQ.TO
1.2%

Industrials

VEE.TO
7.9%
ZQQ.TO
3.1%

Communication Services

VEE.TO
7.8%
ZQQ.TO
15.5%

Energy

VEE.TO
4.7%
ZQQ.TO
0.6%

Healthcare

VEE.TO
4.1%
ZQQ.TO
4.2%

Consumer Defensive

VEE.TO
3.9%
ZQQ.TO
7.6%

Utilities

VEE.TO
3.0%
ZQQ.TO
1.4%

Real Estate

VEE.TO
2.3%
ZQQ.TO
0.1%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard FTSE Emerging Markets All Cap Index ETF

BMO NASDAQ 100 Equity (CAD Hedged)

Often compared with VEE.TO:
VEE.TO vs. XEC.TOVEE.TO vs. ZEM.TOVEE.TO vs. VFV.TOVEE.TO vs. XEQT.TOVEE.TO vs. VIDY.TOVEE.TO vs. VOOVEE.TO vs. VXUS
Often compared with ZQQ.TO:
ZQQ.TO vs. ZNQ.TOZQQ.TO vs. XQQ.TOZQQ.TO vs. QQC.TOZQQ.TO vs. QQQZQQ.TO vs. VFV.TOZQQ.TO vs. TEC.TOZQQ.TO vs. ZSP.TO

Return for Risk

VEE.TO vs. ZQQ.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VEE.TO
VEE.TO Risk / Return Rank: 6060
Overall Rank
VEE.TO Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
VEE.TO Sortino Ratio Rank: 6060
Sortino Ratio Rank
VEE.TO Omega Ratio Rank: 6363
Omega Ratio Rank
VEE.TO Calmar Ratio Rank: 5959
Calmar Ratio Rank
VEE.TO Martin Ratio Rank: 5959
Martin Ratio Rank
ZQQ.TO
ZQQ.TO Risk / Return Rank: 6767
Overall Rank
ZQQ.TO Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
ZQQ.TO Sortino Ratio Rank: 6969
Sortino Ratio Rank
ZQQ.TO Omega Ratio Rank: 6969
Omega Ratio Rank
ZQQ.TO Calmar Ratio Rank: 6060
Calmar Ratio Rank
ZQQ.TO Martin Ratio Rank: 6161
Martin Ratio Rank
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.

VEE.TO vs. ZQQ.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.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.

VEE.TOZQQ.TODifference
Sharpe ratioReturn per unit of total volatility
2.08
2.46

-0.38

Sortino ratioReturn per unit of downside risk
2.90
3.25

-0.34

Omega ratioGain probability vs. loss probability

1.39

1.43

-0.04

Calmar ratioReturn relative to maximum drawdown

2.97

3.01

-0.04

Martin ratioReturn relative to average drawdown

10.74

11.25

-0.50

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VEE.TO vs. ZQQ.TO - Sharpe Ratio Comparison

The current VEE.TO Sharpe Ratio is 2.08, which is comparable to the ZQQ.TO Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of VEE.TO and ZQQ.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

VEE.TOZQQ.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.08

2.46

-0.38

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.49

0.72

-0.23

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.53

0.90

-0.37

Sharpe Ratio (All Time)

Calculated using the full available price history

0.44

0.91

-0.47

Drawdowns

VEE.TO vs. ZQQ.TO - Drawdown Comparison

The maximum VEE.TO drawdown since its inception was -29.84%, smaller than the maximum ZQQ.TO drawdown of -36.39%. Use the drawdown chart below to compare losses from any high point for VEE.TO and ZQQ.TO.

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Drawdown Indicators

VEE.TOZQQ.TODifference

Max Drawdown

Largest peak-to-trough decline

-29.84%

-36.39%

+6.55%

Max Drawdown (1Y)

Largest decline over 1 year

-10.74%

-12.86%

+2.12%

Max Drawdown (3Y)

Largest decline over 3 years

-14.97%

-22.79%

+7.82%

Max Drawdown (5Y)

Largest decline over 5 years

-26.10%

-36.39%

+10.29%

Max Drawdown (10Y)

Largest decline over 10 years

-29.84%

-36.39%

+6.55%

Current Drawdown

Current decline from peak

-0.90%

-0.28%

-0.62%

Average Drawdown

Average peak-to-trough decline

-8.73%

-5.37%

-3.36%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.96%

3.43%

-0.47%

Volatility

VEE.TO vs. ZQQ.TO - Volatility Comparison

Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.TO) has a higher volatility of 6.04% compared to BMO NASDAQ 100 Equity (CAD Hedged) (ZQQ.TO) at 4.54%. This indicates that VEE.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.

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Volatility by Period

VEE.TOZQQ.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.04%

4.54%

+1.50%

Volatility (6M)

Calculated over the trailing 6-month period

12.86%

12.02%

+0.84%

Volatility (1Y)

Calculated over the trailing 1-year period

15.31%

15.73%

-0.42%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.29%

22.57%

-7.28%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.97%

22.41%

-5.44%

VEE.TO vs. ZQQ.TO - Expense Ratio Comparison

VEE.TO has a 0.25% expense ratio, which is lower than ZQQ.TO's 0.39% expense ratio.

Dividends

VEE.TO vs. ZQQ.TO - Dividend Comparison

VEE.TO's dividend yield for the trailing twelve months is around 1.91%, more than ZQQ.TO's 0.22% yield.

PositionTTM20252024202320222021202020192018201720162015
VEE.TO
Vanguard FTSE Emerging Markets All Cap Index ETF		1.91%2.26%2.45%2.83%3.35%2.18%1.61%2.71%2.21%1.89%1.99%2.53%
ZQQ.TO
BMO NASDAQ 100 Equity (CAD Hedged)		0.22%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

VEE.TO and ZQQ.TO have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VEE.TO is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VEE.TO is cheaper with a 0.25% expense ratio, compared with 0.39% for ZQQ.TO.

VEE.TO is categorized as Emerging Markets Equities, while ZQQ.TO is Nasdaq-100. VEE.TO tracks FTSE Emerging Markets All Cap China A Inclusion Index, while ZQQ.TO tracks NASDAQ-100 Index. They also come from different issuers: Vanguard and BMO. Their fees differ too: 0.25% for VEE.TO and 0.39% for ZQQ.TO.

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