XGB.TO vs. XQQ.TO
XGB.TO (iShares Core Canadian Government Bond Index ETF) and XQQ.TO (iShares NASDAQ 100 Index ETF (CAD-Hedged)) are both exchange-traded funds - XGB.TO is a Canadian Government Bonds fund tracking the Morningstar Can Core Bd 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, XGB.TO returned 1.06%/yr vs 19.59%/yr for XQQ.TO. At a correlation of -0.07, they often move in opposite directions. XGB.TO charges 0.13%/yr vs 0.39%/yr for XQQ.TO.
Performance
XGB.TO vs. XQQ.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XGB.TO achieves a 1.57% return, which is significantly lower than XQQ.TO's 19.17% return. Over the past 10 years, XGB.TO has underperformed XQQ.TO with an annualized return of 1.06%, while XQQ.TO has yielded a comparatively higher 19.59% annualized return.
XGB.TO
- 1D
- 0.00%
- 1M
- 1.53%
- YTD
- 1.57%
- 6M
- 0.83%
- 1Y
- 2.46%
- 3Y*
- 3.58%
- 5Y*
- 0.13%
- 10Y*
- 1.06%
XQQ.TO
- 1D
- -0.54%
- 1M
- 8.62%
- YTD
- 19.17%
- 6M
- 17.53%
- 1Y
- 37.37%
- 3Y*
- 26.17%
- 5Y*
- 15.19%
- 10Y*
- 19.59%
XGB.TO vs. XQQ.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XGB.TO iShares Core Canadian Government Bond Index ETF | 1.57% | 1.65% | 3.54% | 5.57% | -12.25% | -3.11% | 8.14% | 6.10% | 1.34% | 1.71% |
XQQ.TO iShares NASDAQ 100 Index ETF (CAD-Hedged) | 19.17% | 18.38% | 24.23% | 52.23% | -33.67% | 22.29% | 45.23% | 37.48% | -2.33% | 31.83% |
Correlation
The correlation between XGB.TO and XQQ.TO is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since May 11, 2011 | -0.07 |
The correlation between XGB.TO and XQQ.TO shifts across timeframes, from -0.07 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XGB.TO vs. XQQ.TO — Risk / Return Rank
XGB.TO
XQQ.TO
XGB.TO vs. XQQ.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Canadian Government Bond Index ETF (XGB.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.
| XGB.TO | XQQ.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.83 | ||
| Sortino ratioReturn per unit of downside risk | -2.36 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.41 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 0.86 | 2.94 | -2.08 |
| Martin ratioReturn relative to average drawdown | 1.86 | 10.98 | -9.13 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XGB.TO | XQQ.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.55 | 2.37 | -1.83 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 0.68 | -0.66 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.18 | 0.88 | -0.70 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.86 | -0.34 |
Drawdowns
XGB.TO vs. XQQ.TO - Drawdown Comparison
The maximum XGB.TO drawdown since its inception was -19.53%, smaller than the maximum XQQ.TO drawdown of -38.55%. Use the drawdown chart below to compare losses from any high point for XGB.TO and XQQ.TO.
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Drawdown Indicators
| XGB.TO | XQQ.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.53% | -38.55% | +19.02% |
Max Drawdown (1Y)Largest decline over 1 year | -2.86% | -12.76% | +9.90% |
Max Drawdown (3Y)Largest decline over 3 years | -5.83% | -22.72% | +16.89% |
Max Drawdown (5Y)Largest decline over 5 years | -16.44% | -38.55% | +22.11% |
Max Drawdown (10Y)Largest decline over 10 years | -19.53% | -38.55% | +19.02% |
Current DrawdownCurrent decline from peak | -5.25% | -0.80% | -4.45% |
Average DrawdownAverage peak-to-trough decline | -3.94% | -5.92% | +1.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.33% | 3.41% | -2.08% |
Volatility
XGB.TO vs. XQQ.TO - Volatility Comparison
The current volatility for iShares Core Canadian Government Bond Index ETF (XGB.TO) is 1.71%, while iShares NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.TO) has a volatility of 4.51%. This indicates that XGB.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
| XGB.TO | XQQ.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.71% | 4.51% | -2.80% |
Volatility (6M)Calculated over the trailing 6-month period | 3.49% | 12.01% | -8.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.52% | 15.82% | -11.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.92% | 22.51% | -15.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.99% | 22.34% | -16.35% |
XGB.TO vs. XQQ.TO - Expense Ratio Comparison
XGB.TO has a 0.13% expense ratio, which is lower than XQQ.TO's 0.39% expense ratio.
Dividends
XGB.TO vs. XQQ.TO - Dividend Comparison
XGB.TO's dividend yield for the trailing twelve months is around 3.11%, more than XQQ.TO's 0.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XGB.TO iShares Core Canadian Government Bond Index ETF | 3.11% | 3.11% | 2.95% | 2.73% | 2.64% | 2.25% | 2.12% | 2.32% | 2.44% | 2.41% | 2.53% | 2.62% |
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
XGB.TO and XQQ.TO have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XGB.TO is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XGB.TO is cheaper with a 0.13% expense ratio, compared with 0.39% for XQQ.TO.
XGB.TO is categorized as Canadian Government Bonds, while XQQ.TO is Nasdaq-100. XGB.TO tracks Morningstar Can Core Bd GR CAD, while XQQ.TO tracks Morningstar US Market TR CAD. Their fees differ too: 0.13% for XGB.TO and 0.39% for XQQ.TO.
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