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

XCV.TO vs. XQQ.TO

Last updated Jun 4, 2026

XCV.TO (iShares Canadian Value Index ETF) and XQQ.TO (iShares NASDAQ 100 Index ETF (CAD-Hedged)) are both exchange-traded funds - XCV.TO is a Canada Equities fund tracking the Morningstar Canada GR CAD, while XQQ.TO is a Nasdaq-100 fund tracking the Morningstar US Market TR CAD. Both are passively managed. Over the past 10 years, XCV.TO returned 13.20%/yr vs 19.70%/yr for XQQ.TO. At a 0.41 correlation, their price movements are largely independent. XCV.TO charges 0.55%/yr vs 0.39%/yr for XQQ.TO.

Performance

XCV.TO vs. XQQ.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Canadian Value Index ETF (XCV.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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Returns By Period

The year-to-date returns for both investments are quite close, with XCV.TO having a 19.17% return and XQQ.TO slightly higher at 19.81%. Over the past 10 years, XCV.TO has underperformed XQQ.TO with an annualized return of 13.20%, while XQQ.TO has yielded a comparatively higher 19.70% annualized return.

XCV.TO

1D
-0.02%
1M
4.70%
YTD
19.17%
6M
19.26%
1Y
44.26%
3Y*
27.30%
5Y*
17.83%
10Y*
13.20%

XQQ.TO

1D
-0.27%
1M
10.58%
YTD
19.81%
6M
18.06%
1Y
38.49%
3Y*
26.43%
5Y*
15.31%
10Y*
19.70%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
XCV.TO
iShares Canadian Value Index ETF		19.17%32.17%21.26%9.47%1.87%32.71%-2.56%18.02%-11.15%8.75%
XQQ.TO
iShares NASDAQ 100 Index ETF (CAD-Hedged)		19.81%18.38%24.23%52.23%-33.67%22.29%45.23%37.48%-2.33%31.83%

Correlation

The correlation between XCV.TO and XQQ.TO is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.29

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

0.34

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

0.40

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

0.38

Correlation (All Time)
Calculated using the full available price history since May 11, 2011

0.41

The correlation between XCV.TO and XQQ.TO shifts across timeframes, from 0.29 (1 year) to 0.41 (all time), reflecting how their relationship changes across market environments.

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 Value Index ETF

iShares NASDAQ 100 Index ETF (CAD-Hedged)

Often compared with XCV.TO:
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Often compared with XQQ.TO:
XQQ.TO vs. QQC.TOXQQ.TO vs. VFV.TOXQQ.TO vs. HXQ.TOXQQ.TO vs. XQQU.TOXQQ.TO vs. QQQXQQ.TO vs. ZQQ.TOXQQ.TO vs. TEC.TO

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XCV.TO
XCV.TO Risk / Return Rank: 9797
Overall Rank
XCV.TO Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
XCV.TO Sortino Ratio Rank: 9797
Sortino Ratio Rank
XCV.TO Omega Ratio Rank: 9898
Omega Ratio Rank
XCV.TO Calmar Ratio Rank: 9797
Calmar Ratio Rank
XCV.TO Martin Ratio Rank: 9797
Martin Ratio Rank
XQQ.TO
XQQ.TO Risk / Return Rank: 6666
Overall Rank
XQQ.TO Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
XQQ.TO Sortino Ratio Rank: 6969
Sortino Ratio Rank
XQQ.TO Omega Ratio Rank: 6868
Omega Ratio Rank
XQQ.TO Calmar Ratio Rank: 6060
Calmar Ratio Rank
XQQ.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.

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

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

XCV.TOXQQ.TODifference
Sharpe ratioReturn per unit of total volatility
4.97
2.45

+2.52

Sortino ratioReturn per unit of downside risk
6.62
3.20

+3.42

Omega ratioGain probability vs. loss probability

2.03

1.42

+0.61

Calmar ratioReturn relative to maximum drawdown

11.53

3.03

+8.50

Martin ratioReturn relative to average drawdown

43.47

11.31

+32.15

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

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

The current XCV.TO Sharpe Ratio is 4.97, which is higher than the XQQ.TO Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of XCV.TO and XQQ.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

XCV.TOXQQ.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

4.97

2.45

+2.52

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.39

0.68

+0.71

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.85

0.89

-0.03

Sharpe Ratio (All Time)

Calculated using the full available price history

0.54

0.86

-0.32

Drawdowns

XCV.TO vs. XQQ.TO - Drawdown Comparison

The maximum XCV.TO drawdown since its inception was -52.49%, which is greater than XQQ.TO's maximum drawdown of -38.55%. Use the drawdown chart below to compare losses from any high point for XCV.TO and XQQ.TO.

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Drawdown Indicators

XCV.TOXQQ.TODifference

Max Drawdown

Largest peak-to-trough decline

-52.49%

-38.55%

-13.94%

Max Drawdown (1Y)

Largest decline over 1 year

-3.86%

-12.76%

+8.90%

Max Drawdown (3Y)

Largest decline over 3 years

-9.71%

-22.72%

+13.01%

Max Drawdown (5Y)

Largest decline over 5 years

-18.08%

-38.55%

+20.47%

Max Drawdown (10Y)

Largest decline over 10 years

-41.18%

-38.55%

-2.63%

Current Drawdown

Current decline from peak

-0.89%

-0.27%

-0.62%

Average Drawdown

Average peak-to-trough decline

-6.67%

-5.92%

-0.75%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.02%

3.41%

-2.39%

Volatility

XCV.TO vs. XQQ.TO - Volatility Comparison

The current volatility for iShares Canadian Value Index ETF (XCV.TO) is 3.27%, while iShares NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.TO) has a volatility of 4.48%. This indicates that XCV.TO experiences smaller price fluctuations and is considered to be less risky 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

XCV.TOXQQ.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.27%

4.48%

-1.21%

Volatility (6M)

Calculated over the trailing 6-month period

7.65%

12.00%

-4.35%

Volatility (1Y)

Calculated over the trailing 1-year period

8.96%

15.82%

-6.86%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.87%

22.52%

-9.65%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.54%

22.34%

-6.80%

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

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

Dividends

XCV.TO vs. XQQ.TO - Dividend Comparison

XCV.TO's dividend yield for the trailing twelve months is around 2.29%, more than XQQ.TO's 0.21% yield.

PositionTTM20252024202320222021202020192018201720162015
XCV.TO
iShares Canadian Value Index ETF		2.29%2.71%3.72%3.88%3.18%2.11%3.35%3.06%3.13%2.40%2.50%3.14%
XQQ.TO
iShares NASDAQ 100 Index ETF (CAD-Hedged)		0.21%0.25%0.32%0.31%0.43%0.17%0.26%0.46%0.52%0.53%0.76%0.62%

Frequently Asked Questions

XCV.TO and XQQ.TO have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

XQQ.TO is cheaper with a 0.39% expense ratio, compared with 0.55% for XCV.TO.

XCV.TO is categorized as Canada Equities, while XQQ.TO is Nasdaq-100. XCV.TO tracks Morningstar Canada GR CAD, while XQQ.TO tracks Morningstar US Market TR CAD. Their fees differ too: 0.55% for XCV.TO and 0.39% for XQQ.TO.

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