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XAD.TO vs. XQQ.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

XAD.TO vs. XQQ.TO

Last updated Apr 1, 2026

Compare and contrast key facts about iShares U.S. Aerospace & Defense Index ETF (XAD.TO) and iShares NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.TO).

XAD.TO and XQQ.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XAD.TO is a passively managed fund by iShares that tracks the performance of the Dow Jones U.S. Select Aerospace & Defense Index. It was launched on Sep 6, 2023. XQQ.TO is a passively managed fund by iShares that tracks the performance of the Morningstar US Market TR CAD. It was launched on May 3, 2011. Both XAD.TO and XQQ.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

XAD.TO vs. XQQ.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares U.S. Aerospace & Defense Index ETF (XAD.TO) and iShares NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.TO). The values are adjusted to include any dividend payments, if applicable.

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XAD.TO vs. XQQ.TO - Yearly Performance Comparison

2026 (YTD)202520242023
XAD.TO
iShares U.S. Aerospace & Defense Index ETF		3.22%41.77%25.00%14.33%
XQQ.TO
iShares NASDAQ 100 Index ETF (CAD-Hedged)		-6.47%18.38%24.23%10.20%

Returns By Period

In the year-to-date period, XAD.TO achieves a 3.22% return, which is significantly higher than XQQ.TO's -6.47% return.

XAD.TO

1D
3.75%
1M
-8.51%
YTD
3.22%
6M
4.33%
1Y
38.25%
3Y*
—
5Y*
—
10Y*
—

XQQ.TO

1D
3.44%
1M
-5.05%
YTD
-6.47%
6M
-4.62%
1Y
21.12%
3Y*
20.32%
5Y*
10.45%
10Y*
16.78%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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iShares U.S. Aerospace & Defense Index ETF

iShares NASDAQ 100 Index ETF (CAD-Hedged)

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XAD.TO vs. XQQ.TO - Expense Ratio Comparison

XAD.TO has a 0.44% expense ratio, which is higher than XQQ.TO's 0.39% expense ratio.

XAD.TO
iShares U.S. Aerospace & Defense Index ETF
XQQ.TO
iShares NASDAQ 100 Index ETF (CAD-Hedged)

Return for Risk

XAD.TO vs. XQQ.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XAD.TO
XAD.TO Risk / Return Rank: 8181
Overall Rank
XAD.TO Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
XAD.TO Sortino Ratio Rank: 8585
Sortino Ratio Rank
XAD.TO Omega Ratio Rank: 8080
Omega Ratio Rank
XAD.TO Calmar Ratio Rank: 8484
Calmar Ratio Rank
XAD.TO Martin Ratio Rank: 7474
Martin Ratio Rank
XQQ.TO
XQQ.TO Risk / Return Rank: 6363
Overall Rank
XQQ.TO Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
XQQ.TO Sortino Ratio Rank: 6262
Sortino Ratio Rank
XQQ.TO Omega Ratio Rank: 6262
Omega Ratio Rank
XQQ.TO Calmar Ratio Rank: 6969
Calmar Ratio Rank
XQQ.TO Martin Ratio Rank: 6363
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.

XAD.TO vs. XQQ.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Aerospace & Defense Index ETF (XAD.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.

XAD.TOXQQ.TODifference

Sharpe ratio

Return per unit of total volatility

1.61

0.95

+0.66

Sortino ratio

Return per unit of downside risk

2.22

1.50

+0.72

Omega ratio

Gain probability vs. loss probability

1.30

1.21

+0.08

Calmar ratio

Return relative to maximum drawdown

2.31

1.65

+0.66

Martin ratio

Return relative to average drawdown

7.38

5.80

+1.58

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

XAD.TO vs. XQQ.TO - Sharpe Ratio Comparison

The current XAD.TO Sharpe Ratio is 1.61, which is higher than the XQQ.TO Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of XAD.TO and XQQ.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

XAD.TOXQQ.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.61

0.95

+0.66

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.47

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.76

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.95

-1.32

+3.27

Correlation

The correlation between XAD.TO and XQQ.TO is 0.31, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

XAD.TO vs. XQQ.TO - Dividend Comparison

XAD.TO's dividend yield for the trailing twelve months is around 0.34%, more than XQQ.TO's 0.27% yield.

TTM20252024202320222021202020192018201720162015
XAD.TO
iShares U.S. Aerospace & Defense Index ETF		0.34%0.35%0.44%0.24%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)		0.27%0.25%0.32%0.31%0.43%0.17%0.26%0.46%0.52%0.53%0.76%0.62%

Drawdowns

XAD.TO vs. XQQ.TO - Drawdown Comparison

The maximum XAD.TO drawdown since its inception was -16.06%, smaller than the maximum XQQ.TO drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for XAD.TO and XQQ.TO.

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Drawdown Indicators

XAD.TOXQQ.TODifference

Max Drawdown

Largest peak-to-trough decline

-16.06%

-100.00%

+83.94%

Max Drawdown (1Y)

Largest decline over 1 year

-14.36%

-12.76%

-1.60%

Max Drawdown (5Y)

Largest decline over 5 years

—

-38.55%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-38.55%

—

Current Drawdown

Current decline from peak

-11.14%

-99.98%

+88.84%

Average Drawdown

Average peak-to-trough decline

-2.49%

-99.99%

+97.50%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.58%

3.63%

+0.95%

Volatility

XAD.TO vs. XQQ.TO - Volatility Comparison

iShares U.S. Aerospace & Defense Index ETF (XAD.TO) has a higher volatility of 7.49% compared to iShares NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.TO) at 6.56%. This indicates that XAD.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

XAD.TOXQQ.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

7.49%

6.56%

+0.93%

Volatility (6M)

Calculated over the trailing 6-month period

15.90%

12.66%

+3.24%

Volatility (1Y)

Calculated over the trailing 1-year period

24.15%

22.22%

+1.93%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.91%

22.54%

-1.63%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.91%

22.29%

-1.38%