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

XCG.TO vs. ZQQ.TO

Last updated Jun 5, 2026

XCG.TO (iShares Canadian Growth Index ETF) and ZQQ.TO (BMO NASDAQ 100 Equity (CAD Hedged)) are both exchange-traded funds - XCG.TO is a Canada Equities fund tracking the Morningstar Canada GR CAD, while ZQQ.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, XCG.TO returned 9.54%/yr vs 19.97%/yr for ZQQ.TO. A 0.52 correlation means they provide meaningful diversification when combined. XCG.TO charges 0.55%/yr vs 0.39%/yr for ZQQ.TO.

Performance

XCG.TO vs. ZQQ.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Canadian Growth Index ETF (XCG.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, XCG.TO achieves a 2.86% return, which is significantly lower than ZQQ.TO's 19.23% return. Over the past 10 years, XCG.TO has underperformed ZQQ.TO with an annualized return of 9.54%, while ZQQ.TO has yielded a comparatively higher 19.97% annualized return.

XCG.TO

1D
0.92%
1M
3.98%
YTD
2.86%
6M
-4.93%
1Y
5.89%
3Y*
13.77%
5Y*
8.36%
10Y*
9.54%

ZQQ.TO

1D
-0.49%
1M
8.68%
YTD
19.23%
6M
17.57%
1Y
37.46%
3Y*
26.20%
5Y*
16.01%
10Y*
19.97%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
XCG.TO
iShares Canadian Growth Index ETF		2.86%9.37%21.40%17.43%-11.67%15.98%11.25%28.29%-6.14%7.03%
ZQQ.TO
BMO NASDAQ 100 Equity (CAD Hedged)		19.23%18.38%24.00%52.52%-33.75%26.68%45.33%37.08%-2.29%31.51%

Correlation

The correlation between XCG.TO and ZQQ.TO is 0.59, 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

0.59

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

0.60

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

0.63

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

0.55

Correlation (All Time)
Calculated using the full available price history since Jan 26, 2010

0.52

The correlation between XCG.TO and ZQQ.TO shifts across timeframes, from 0.52 (all time) to 0.63 (5 years), reflecting how their relationship changes across market environments.

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

Sectors
XCG.TO
ZQQ.TO

Basic Materials

27.2%
1.2%

Industrials

22.4%
3.1%

Technology

17.0%
54.1%

Financial Services

10.0%
0.2%

Energy

9.7%
0.6%

Consumer Cyclical

7.2%
12.2%

Consumer Defensive

4.6%
7.6%

Communication Services

1.5%
15.5%

Real Estate

0.4%
0.1%

Healthcare

-

4.2%

Utilities

-

1.4%

Basic Materials

XCG.TO
27.2%
ZQQ.TO
1.2%

Industrials

XCG.TO
22.4%
ZQQ.TO
3.1%

Technology

XCG.TO
17.0%
ZQQ.TO
54.1%

Financial Services

XCG.TO
10.0%
ZQQ.TO
0.2%

Energy

XCG.TO
9.7%
ZQQ.TO
0.6%

Consumer Cyclical

XCG.TO
7.2%
ZQQ.TO
12.2%

Consumer Defensive

XCG.TO
4.6%
ZQQ.TO
7.6%

Communication Services

XCG.TO
1.5%
ZQQ.TO
15.5%

Real Estate

XCG.TO
0.4%
ZQQ.TO
0.1%

Healthcare

XCG.TO

-

ZQQ.TO
4.2%

Utilities

XCG.TO

-

ZQQ.TO
1.4%

Compare stocks, funds, or ETFs

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

iShares Canadian Growth Index ETF

BMO NASDAQ 100 Equity (CAD Hedged)

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Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XCG.TO
XCG.TO Risk / Return Rank: 1414
Overall Rank
XCG.TO Sharpe Ratio Rank: 1414
Sharpe Ratio Rank
XCG.TO Sortino Ratio Rank: 1313
Sortino Ratio Rank
XCG.TO Omega Ratio Rank: 1414
Omega Ratio Rank
XCG.TO Calmar Ratio Rank: 1414
Calmar Ratio Rank
XCG.TO Martin Ratio Rank: 1515
Martin Ratio Rank
ZQQ.TO
ZQQ.TO Risk / Return Rank: 6868
Overall Rank
ZQQ.TO Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
ZQQ.TO Sortino Ratio Rank: 7171
Sortino Ratio Rank
ZQQ.TO Omega Ratio Rank: 7070
Omega Ratio Rank
ZQQ.TO Calmar Ratio Rank: 6060
Calmar Ratio Rank
ZQQ.TO Martin Ratio Rank: 6262
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.

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

This table presents a comparison of risk-adjusted performance metrics for iShares Canadian Growth Index ETF (XCG.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.

XCG.TOZQQ.TODifference
Sharpe ratioReturn per unit of total volatility
0.30
2.39

-2.10

Sortino ratioReturn per unit of downside risk
0.52
3.17

-2.65

Omega ratioGain probability vs. loss probability

1.07

1.41

-0.34

Calmar ratioReturn relative to maximum drawdown

0.39

2.93

-2.54

Martin ratioReturn relative to average drawdown

1.12

10.93

-9.81

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

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

The current XCG.TO Sharpe Ratio is 0.30, which is lower than the ZQQ.TO Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of XCG.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

XCG.TOZQQ.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.30

2.39

-2.10

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.53

0.71

-0.18

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.58

0.90

-0.31

Sharpe Ratio (All Time)

Calculated using the full available price history

0.37

0.91

-0.54

Drawdowns

XCG.TO vs. ZQQ.TO - Drawdown Comparison

The maximum XCG.TO drawdown since its inception was -52.64%, which is greater than ZQQ.TO's maximum drawdown of -36.39%. Use the drawdown chart below to compare losses from any high point for XCG.TO and ZQQ.TO.

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Drawdown Indicators

XCG.TOZQQ.TODifference

Max Drawdown

Largest peak-to-trough decline

-52.64%

-36.39%

-16.25%

Max Drawdown (1Y)

Largest decline over 1 year

-15.27%

-12.86%

-2.41%

Max Drawdown (3Y)

Largest decline over 3 years

-15.27%

-22.79%

+7.52%

Max Drawdown (5Y)

Largest decline over 5 years

-21.61%

-36.39%

+14.78%

Max Drawdown (10Y)

Largest decline over 10 years

-32.14%

-36.39%

+4.25%

Current Drawdown

Current decline from peak

-6.45%

-0.77%

-5.68%

Average Drawdown

Average peak-to-trough decline

-10.87%

-5.37%

-5.50%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.26%

3.44%

+1.82%

Volatility

XCG.TO vs. ZQQ.TO - Volatility Comparison

iShares Canadian Growth Index ETF (XCG.TO) has a higher volatility of 5.11% compared to BMO NASDAQ 100 Equity (CAD Hedged) (ZQQ.TO) at 4.56%. This indicates that XCG.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

XCG.TOZQQ.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.11%

4.56%

+0.55%

Volatility (6M)

Calculated over the trailing 6-month period

17.02%

12.02%

+5.00%

Volatility (1Y)

Calculated over the trailing 1-year period

20.07%

15.73%

+4.34%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.88%

22.56%

-6.68%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.48%

22.41%

-5.93%

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

XCG.TO has a 0.55% expense ratio, which is higher than ZQQ.TO's 0.39% expense ratio.

Dividends

XCG.TO vs. ZQQ.TO - Dividend Comparison

XCG.TO's dividend yield for the trailing twelve months is around 0.49%, more than ZQQ.TO's 0.22% yield.

PositionTTM20252024202320222021202020192018201720162015
XCG.TO
iShares Canadian Growth Index ETF		0.49%0.45%0.60%1.33%1.59%1.46%1.69%1.53%1.65%1.03%0.97%0.72%
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

XCG.TO and ZQQ.TO have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ZQQ.TO is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ZQQ.TO is cheaper with a 0.39% expense ratio, compared with 0.55% for XCG.TO.

XCG.TO is categorized as Canada Equities, while ZQQ.TO is Nasdaq-100. XCG.TO tracks Morningstar Canada GR CAD, while ZQQ.TO tracks NASDAQ-100 Index. They also come from different issuers: iShares and BMO. Their fees differ too: 0.55% for XCG.TO and 0.39% for ZQQ.TO.

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