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

XGD.TO vs. XQQ.TO

Last updated Jun 4, 2026

XGD.TO (iShares S&P/TSX Global Gold Index ETF) and XQQ.TO (iShares NASDAQ 100 Index ETF (CAD-Hedged)) are both exchange-traded funds - XGD.TO is a Precious Metals fund tracking the Morningstar Gbl Gold 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, XGD.TO returned 14.79%/yr vs 19.70%/yr for XQQ.TO. At a 0.10 correlation, their price movements are largely independent. XGD.TO charges 0.61%/yr vs 0.39%/yr for XQQ.TO.

Performance

XGD.TO vs. XQQ.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P/TSX Global Gold Index ETF (XGD.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

In the year-to-date period, XGD.TO achieves a 3.35% return, which is significantly lower than XQQ.TO's 19.81% return. Over the past 10 years, XGD.TO has underperformed XQQ.TO with an annualized return of 14.79%, while XQQ.TO has yielded a comparatively higher 19.70% annualized return.

XGD.TO

1D
-2.80%
1M
1.62%
YTD
3.35%
6M
8.72%
1Y
67.78%
3Y*
43.11%
5Y*
22.30%
10Y*
14.79%

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)

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

2026 (YTD)202520242023202220212020201920182017
XGD.TO
iShares S&P/TSX Global Gold Index ETF		3.35%144.45%19.63%3.91%-3.10%-5.81%21.10%40.18%-4.10%0.96%
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 XGD.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

0.21

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

0.16

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

0.12

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

0.10

The correlation between XGD.TO and XQQ.TO shifts across timeframes, from 0.10 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.

XGD.TO vs. XQQ.TO - Sectors Allocation Comparison

Sectors
XGD.TO
XQQ.TO

Basic Materials

100.0%
1.1%

Communication Services

-

15.8%

Consumer Cyclical

-

12.2%

Consumer Defensive

-

7.7%

Energy

-

0.6%

Financial Services

-

0.2%

Healthcare

-

4.2%

Industrials

-

3.1%

Real Estate

-

0.1%

Technology

-

53.7%

Utilities

-

1.4%

Basic Materials

XGD.TO
100.0%
XQQ.TO
1.1%

Communication Services

XGD.TO

-

XQQ.TO
15.8%

Consumer Cyclical

XGD.TO

-

XQQ.TO
12.2%

Consumer Defensive

XGD.TO

-

XQQ.TO
7.7%

Energy

XGD.TO

-

XQQ.TO
0.6%

Financial Services

XGD.TO

-

XQQ.TO
0.2%

Healthcare

XGD.TO

-

XQQ.TO
4.2%

Industrials

XGD.TO

-

XQQ.TO
3.1%

Real Estate

XGD.TO

-

XQQ.TO
0.1%

Technology

XGD.TO

-

XQQ.TO
53.7%

Utilities

XGD.TO

-

XQQ.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 S&P/TSX Global Gold Index ETF

iShares NASDAQ 100 Index ETF (CAD-Hedged)

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Often compared with XQQ.TO:
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Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XGD.TO
XGD.TO Risk / Return Rank: 4242
Overall Rank
XGD.TO Sharpe Ratio Rank: 4545
Sharpe Ratio Rank
XGD.TO Sortino Ratio Rank: 3737
Sortino Ratio Rank
XGD.TO Omega Ratio Rank: 4343
Omega Ratio Rank
XGD.TO Calmar Ratio Rank: 4747
Calmar Ratio Rank
XGD.TO Martin Ratio Rank: 3939
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.

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

This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Global Gold Index ETF (XGD.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.

XGD.TOXQQ.TODifference
Sharpe ratioReturn per unit of total volatility
1.59
2.45

-0.86

Sortino ratioReturn per unit of downside risk
1.97
3.20

-1.23

Omega ratioGain probability vs. loss probability

1.28

1.42

-0.14

Calmar ratioReturn relative to maximum drawdown

2.35

3.03

-0.68

Martin ratioReturn relative to average drawdown

6.22

11.31

-5.09

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

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

The current XGD.TO Sharpe Ratio is 1.59, which is lower than the XQQ.TO Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of XGD.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

XGD.TOXQQ.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.59

2.45

-0.86

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.69

0.68

0.00

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.45

0.89

-0.44

Sharpe Ratio (All Time)

Calculated using the full available price history

0.25

0.86

-0.61

Drawdowns

XGD.TO vs. XQQ.TO - Drawdown Comparison

The maximum XGD.TO drawdown since its inception was -72.55%, 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 XGD.TO and XQQ.TO.

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Drawdown Indicators

XGD.TOXQQ.TODifference

Max Drawdown

Largest peak-to-trough decline

-72.55%

-38.55%

-34.00%

Max Drawdown (1Y)

Largest decline over 1 year

-28.95%

-12.76%

-16.19%

Max Drawdown (3Y)

Largest decline over 3 years

-28.95%

-22.72%

-6.23%

Max Drawdown (5Y)

Largest decline over 5 years

-40.82%

-38.55%

-2.27%

Max Drawdown (10Y)

Largest decline over 10 years

-46.96%

-38.55%

-8.41%

Current Drawdown

Current decline from peak

-23.49%

-0.27%

-23.22%

Average Drawdown

Average peak-to-trough decline

-28.30%

-5.92%

-22.38%

Ulcer Index

Depth and duration of drawdowns from previous peaks

10.93%

3.41%

+7.52%

Volatility

XGD.TO vs. XQQ.TO - Volatility Comparison

iShares S&P/TSX Global Gold Index ETF (XGD.TO) has a higher volatility of 14.43% compared to iShares NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.TO) at 4.48%. This indicates that XGD.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

XGD.TOXQQ.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

14.43%

4.48%

+9.95%

Volatility (6M)

Calculated over the trailing 6-month period

34.40%

12.00%

+22.40%

Volatility (1Y)

Calculated over the trailing 1-year period

42.86%

15.82%

+27.04%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

32.64%

22.52%

+10.12%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

33.38%

22.34%

+11.04%

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

XGD.TO has a 0.61% expense ratio, which is higher than XQQ.TO's 0.39% expense ratio.

Dividends

XGD.TO vs. XQQ.TO - Dividend Comparison

XGD.TO's dividend yield for the trailing twelve months is around 0.60%, more than XQQ.TO's 0.21% yield.

PositionTTM20252024202320222021202020192018201720162015
XGD.TO
iShares S&P/TSX Global Gold Index ETF		0.60%0.62%0.93%1.49%1.80%1.38%0.35%0.54%0.25%0.14%0.09%0.57%
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

XGD.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, 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 0.61% for XGD.TO.

XGD.TO is categorized as Precious Metals, while XQQ.TO is Nasdaq-100. XGD.TO tracks Morningstar Gbl Gold GR CAD, while XQQ.TO tracks Morningstar US Market TR CAD. Their fees differ too: 0.61% for XGD.TO and 0.39% for XQQ.TO.

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