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XEU.TO vs. QQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XEU.TO vs. QQQ

Last updated Jun 4, 2026

XEU.TO (iShares MSCI Europe IMI Index ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - XEU.TO is a Europe Equities fund tracking the Morningstar Eur GR CAD, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, XEU.TO returned 9.77%/yr vs 22.80%/yr for QQQ. At a 0.47 correlation, their price movements are largely independent. XEU.TO charges 0.28%/yr vs 0.18%/yr for QQQ.

Performance

XEU.TO vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares MSCI Europe IMI Index ETF (XEU.TO) and Invesco QQQ ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

XEU.TO is traded in CAD, while QQQ is traded in USD. To make them comparable, the QQQ values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XEU.TO achieves a 6.82% return, which is significantly lower than QQQ's 22.67% return. Over the past 10 years, XEU.TO has underperformed QQQ with an annualized return of 9.77%, while QQQ has yielded a comparatively higher 22.80% annualized return.

XEU.TO

1D
-0.82%
1M
5.05%
YTD
6.82%
6M
8.23%
1Y
18.70%
3Y*
17.08%
5Y*
10.84%
10Y*
9.77%

QQQ

1D
0.00%
1M
12.65%
YTD
22.67%
6M
19.03%
1Y
43.44%
3Y*
30.21%
5Y*
21.31%
10Y*
22.80%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XEU.TO vs. QQQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XEU.TO
iShares MSCI Europe IMI Index ETF		6.82%29.40%9.36%17.36%-10.48%16.36%3.16%18.30%-8.11%18.48%
QQQ
Invesco QQQ ETF		22.84%15.23%36.37%51.45%-27.77%26.27%46.11%32.13%8.34%24.22%

Correlation

The correlation between XEU.TO and QQQ is 0.51, 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

0.51

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

0.45

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

0.48

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

0.50

Correlation (All Time)
Calculated using the full available price history since Apr 24, 2014

0.47

The correlation between XEU.TO and QQQ has been stable across timeframes, ranging from 0.45 to 0.51 - a consistent structural relationship.

XEU.TO vs. QQQ - Sectors Allocation Comparison

Sectors
XEU.TO
QQQ

Financial Services

22.5%
0.2%

Industrials

15.6%
2.8%

Healthcare

10.5%
4.2%

Technology

8.4%
53.8%

Consumer Defensive

8.0%
7.7%

Consumer Cyclical

6.5%
12.3%

Basic Materials

5.3%
1.1%

Energy

4.0%
0.6%

Utilities

3.5%
1.4%

Communication Services

3.3%
15.8%

Real Estate

1.4%
0.1%

Financial Services

XEU.TO
22.5%
QQQ
0.2%

Industrials

XEU.TO
15.6%
QQQ
2.8%

Healthcare

XEU.TO
10.5%
QQQ
4.2%

Technology

XEU.TO
8.4%
QQQ
53.8%

Consumer Defensive

XEU.TO
8.0%
QQQ
7.7%

Consumer Cyclical

XEU.TO
6.5%
QQQ
12.3%

Basic Materials

XEU.TO
5.3%
QQQ
1.1%

Energy

XEU.TO
4.0%
QQQ
0.6%

Utilities

XEU.TO
3.5%
QQQ
1.4%

Communication Services

XEU.TO
3.3%
QQQ
15.8%

Real Estate

XEU.TO
1.4%
QQQ
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.

iShares MSCI Europe IMI Index ETF

Invesco QQQ ETF

Often compared with XEU.TO:
XEU.TO vs. XEH.TOXEU.TO vs. XEF.TOXEU.TO vs. VE.TOXEU.TO vs. VEAXEU.TO vs. HXS.TOXEU.TO vs. XUS.TOXEU.TO vs. XDIV.TO
Often compared with QQQ:
QQQ vs. SPYQQQ vs. VOOQQQ vs. VGTQQQ vs. TQQQQQQ vs. SMHQQQ vs. QQQMQQQ vs. QQQI

Return for Risk

XEU.TO vs. QQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XEU.TO
XEU.TO Risk / Return Rank: 3535
Overall Rank
XEU.TO Sharpe Ratio Rank: 3636
Sharpe Ratio Rank
XEU.TO Sortino Ratio Rank: 3636
Sortino Ratio Rank
XEU.TO Omega Ratio Rank: 3636
Omega Ratio Rank
XEU.TO Calmar Ratio Rank: 3232
Calmar Ratio Rank
XEU.TO Martin Ratio Rank: 3838
Martin Ratio Rank
QQQ
QQQ Risk / Return Rank: 7373
Overall Rank
QQQ Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 7575
Sortino Ratio Rank
QQQ Omega Ratio Rank: 7474
Omega Ratio Rank
QQQ Calmar Ratio Rank: 6969
Calmar Ratio Rank
QQQ Martin Ratio Rank: 7171
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.

XEU.TO vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe IMI Index ETF (XEU.TO) and Invesco QQQ ETF (QQQ). 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.

XEU.TOQQQDifference
Sharpe ratioReturn per unit of total volatility
1.32
2.80

-1.48

Sortino ratioReturn per unit of downside risk
1.90
3.63

-1.72

Omega ratioGain probability vs. loss probability

1.24

1.50

-0.25

Calmar ratioReturn relative to maximum drawdown

1.57

3.55

-1.98

Martin ratioReturn relative to average drawdown

6.06

11.34

-5.28

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

XEU.TO vs. QQQ - Sharpe Ratio Comparison

The current XEU.TO Sharpe Ratio is 1.32, which is lower than the QQQ Sharpe Ratio of 2.80. The chart below compares the historical Sharpe Ratios of XEU.TO and QQQ, 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

XEU.TOQQQDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.32

2.80

-1.48

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.74

1.03

-0.29

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.61

1.10

-0.49

Sharpe Ratio (All Time)

Calculated using the full available price history

0.53

1.19

-0.66

Drawdowns

XEU.TO vs. QQQ - Drawdown Comparison

The maximum XEU.TO drawdown since its inception was -32.02%, roughly equal to the maximum QQQ drawdown of -31.80%. Use the drawdown chart below to compare losses from any high point for XEU.TO and QQQ.

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Drawdown Indicators

XEU.TOQQQDifference

Max Drawdown

Largest peak-to-trough decline

-32.02%

-31.80%

-0.22%

Max Drawdown (1Y)

Largest decline over 1 year

-11.94%

-12.29%

+0.35%

Max Drawdown (3Y)

Largest decline over 3 years

-14.62%

-22.58%

+7.96%

Max Drawdown (5Y)

Largest decline over 5 years

-26.96%

-31.80%

+4.84%

Max Drawdown (10Y)

Largest decline over 10 years

-32.02%

-31.80%

-0.22%

Current Drawdown

Current decline from peak

-1.74%

0.00%

-1.74%

Average Drawdown

Average peak-to-trough decline

-5.38%

-4.73%

-0.65%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.09%

3.84%

-0.75%

Volatility

XEU.TO vs. QQQ - Volatility Comparison

iShares MSCI Europe IMI Index ETF (XEU.TO) has a higher volatility of 5.16% compared to Invesco QQQ ETF (QQQ) at 4.35%. This indicates that XEU.TO's price experiences larger fluctuations and is considered to be riskier than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XEU.TOQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.16%

4.35%

+0.81%

Volatility (6M)

Calculated over the trailing 6-month period

11.85%

11.80%

+0.05%

Volatility (1Y)

Calculated over the trailing 1-year period

14.22%

15.62%

-1.40%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.72%

20.72%

-6.00%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.09%

20.82%

-4.73%

XEU.TO vs. QQQ - Expense Ratio Comparison

XEU.TO has a 0.28% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

XEU.TO vs. QQQ - Dividend Comparison

XEU.TO's dividend yield for the trailing twelve months is around 2.31%, more than QQQ's 0.38% yield.

PositionTTM20252024202320222021202020192018201720162015
QQQ
Invesco QQQ ETF		0.38%0.45%0.56%0.62%0.80%0.43%0.55%0.74%0.91%0.84%1.06%0.99%
XEU.TO
iShares MSCI Europe IMI Index ETF		2.31%2.47%2.68%2.96%3.03%2.42%1.98%3.56%3.28%2.27%2.91%2.33%

Frequently Asked Questions

XEU.TO and QQQ have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, QQQ is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

QQQ is cheaper with a 0.18% expense ratio, compared with 0.28% for XEU.TO.

XEU.TO is categorized as Europe Equities, while QQQ is Nasdaq-100. XEU.TO tracks Morningstar Eur GR CAD, while QQQ tracks NASDAQ-100 Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.28% for XEU.TO and 0.18% for QQQ.

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