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XHU.TO vs. ZNQ.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XHU.TO vs. ZNQ.TO

Last updated Jun 4, 2026

XHU.TO (iShares U.S. High Dividend Equity Index ETF) and ZNQ.TO (BMO NASDAQ 100 Equity Index ETF) are both exchange-traded funds - XHU.TO is a Large Cap Blend Equities fund tracking the Morningstar US Market TR CAD, while ZNQ.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, XHU.TO returned 9.96%/yr vs 20.92%/yr for ZNQ.TO. At a 0.25 correlation, their price movements are largely independent. XHU.TO charges 0.34%/yr vs 0.39%/yr for ZNQ.TO.

Performance

XHU.TO vs. ZNQ.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares U.S. High Dividend Equity Index ETF (XHU.TO) and BMO NASDAQ 100 Equity Index ETF (ZNQ.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, XHU.TO achieves a 13.95% return, which is significantly lower than ZNQ.TO's 22.76% return.

XHU.TO

1D
1.05%
1M
2.71%
YTD
13.95%
6M
4.75%
1Y
13.69%
3Y*
11.06%
5Y*
9.96%
10Y*
7.63%

ZNQ.TO

1D
0.25%
1M
13.05%
YTD
22.76%
6M
18.72%
1Y
42.93%
3Y*
29.76%
5Y*
20.92%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XHU.TO vs. ZNQ.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
XHU.TO
iShares U.S. High Dividend Equity Index ETF		13.95%-0.28%16.64%-1.52%12.37%18.23%-9.27%9.25%
ZNQ.TO
BMO NASDAQ 100 Equity Index ETF		22.76%14.60%35.84%51.32%-28.06%26.59%44.65%22.90%

Correlation

The correlation between XHU.TO and ZNQ.TO is -0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

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

-0.00

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

0.07

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

0.20

Correlation (All Time)
Calculated using the full available price history since Feb 13, 2019

0.25

The correlation between XHU.TO and ZNQ.TO shifts across timeframes, from -0.00 (1 year) to 0.25 (all time), reflecting how their relationship changes across market environments.

XHU.TO vs. ZNQ.TO - Sectors Allocation Comparison

Sectors
XHU.TO
ZNQ.TO

Consumer Defensive

24.1%
7.6%

Energy

21.2%
0.6%

Healthcare

16.8%
4.2%

Financial Services

10.8%
0.2%

Technology

9.0%
54.1%

Utilities

8.9%
1.4%

Consumer Cyclical

5.8%
12.2%

Industrials

2.0%
3.1%

Basic Materials

1.1%
1.2%

Communication Services

0.1%
15.5%

Real Estate

-

0.1%

Consumer Defensive

XHU.TO
24.1%
ZNQ.TO
7.6%

Energy

XHU.TO
21.2%
ZNQ.TO
0.6%

Healthcare

XHU.TO
16.8%
ZNQ.TO
4.2%

Financial Services

XHU.TO
10.8%
ZNQ.TO
0.2%

Technology

XHU.TO
9.0%
ZNQ.TO
54.1%

Utilities

XHU.TO
8.9%
ZNQ.TO
1.4%

Consumer Cyclical

XHU.TO
5.8%
ZNQ.TO
12.2%

Industrials

XHU.TO
2.0%
ZNQ.TO
3.1%

Basic Materials

XHU.TO
1.1%
ZNQ.TO
1.2%

Communication Services

XHU.TO
0.1%
ZNQ.TO
15.5%

Real Estate

XHU.TO

-

ZNQ.TO
0.1%

Compare stocks, funds, or ETFs

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iShares U.S. High Dividend Equity Index ETF

BMO NASDAQ 100 Equity Index ETF

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Often compared with ZNQ.TO:
ZNQ.TO vs. ZQQ.TOZNQ.TO vs. QQC.TOZNQ.TO vs. HXQ.TOZNQ.TO vs. TEC.TOZNQ.TO vs. VFV.TOZNQ.TO vs. QQQZNQ.TO vs. ZSP.TO

Return for Risk

XHU.TO vs. ZNQ.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XHU.TO
XHU.TO Risk / Return Rank: 3232
Overall Rank
XHU.TO Sharpe Ratio Rank: 3232
Sharpe Ratio Rank
XHU.TO Sortino Ratio Rank: 2828
Sortino Ratio Rank
XHU.TO Omega Ratio Rank: 3434
Omega Ratio Rank
XHU.TO Calmar Ratio Rank: 3232
Calmar Ratio Rank
XHU.TO Martin Ratio Rank: 3535
Martin Ratio Rank
ZNQ.TO
ZNQ.TO Risk / Return Rank: 7474
Overall Rank
ZNQ.TO Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
ZNQ.TO Sortino Ratio Rank: 7878
Sortino Ratio Rank
ZNQ.TO Omega Ratio Rank: 7979
Omega Ratio Rank
ZNQ.TO Calmar Ratio Rank: 6868
Calmar Ratio Rank
ZNQ.TO Martin Ratio Rank: 6060
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.

XHU.TO vs. ZNQ.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. High Dividend Equity Index ETF (XHU.TO) and BMO NASDAQ 100 Equity Index ETF (ZNQ.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.

XHU.TOZNQ.TODifference
Sharpe ratioReturn per unit of total volatility
1.17
2.75

-1.59

Sortino ratioReturn per unit of downside risk
1.54
3.58

-2.04

Omega ratioGain probability vs. loss probability

1.23

1.48

-0.26

Calmar ratioReturn relative to maximum drawdown

1.58

3.45

-1.87

Martin ratioReturn relative to average drawdown

5.48

10.86

-5.38

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

XHU.TO vs. ZNQ.TO - Sharpe Ratio Comparison

The current XHU.TO Sharpe Ratio is 1.17, which is lower than the ZNQ.TO Sharpe Ratio of 2.75. The chart below compares the historical Sharpe Ratios of XHU.TO and ZNQ.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

XHU.TOZNQ.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.17

2.75

-1.59

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.84

1.01

-0.17

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.53

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.55

1.06

-0.51

Drawdowns

XHU.TO vs. ZNQ.TO - Drawdown Comparison

The maximum XHU.TO drawdown since its inception was -29.94%, smaller than the maximum ZNQ.TO drawdown of -32.09%. Use the drawdown chart below to compare losses from any high point for XHU.TO and ZNQ.TO.

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Drawdown Indicators

XHU.TOZNQ.TODifference

Max Drawdown

Largest peak-to-trough decline

-29.94%

-32.09%

+2.15%

Max Drawdown (1Y)

Largest decline over 1 year

-8.73%

-12.50%

+3.77%

Max Drawdown (3Y)

Largest decline over 3 years

-12.53%

-22.67%

+10.14%

Max Drawdown (5Y)

Largest decline over 5 years

-12.53%

-32.09%

+19.56%

Max Drawdown (10Y)

Largest decline over 10 years

-29.94%

—

—

Current Drawdown

Current decline from peak

-1.84%

0.00%

-1.84%

Average Drawdown

Average peak-to-trough decline

-3.73%

-6.63%

+2.90%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.51%

3.96%

-1.45%

Volatility

XHU.TO vs. ZNQ.TO - Volatility Comparison

The current volatility for iShares U.S. High Dividend Equity Index ETF (XHU.TO) is 3.53%, while BMO NASDAQ 100 Equity Index ETF (ZNQ.TO) has a volatility of 4.49%. This indicates that XHU.TO experiences smaller price fluctuations and is considered to be less risky than ZNQ.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XHU.TOZNQ.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.53%

4.49%

-0.96%

Volatility (6M)

Calculated over the trailing 6-month period

10.28%

11.99%

-1.71%

Volatility (1Y)

Calculated over the trailing 1-year period

11.79%

15.69%

-3.90%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.89%

20.81%

-8.92%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.38%

22.34%

-7.96%

XHU.TO vs. ZNQ.TO - Expense Ratio Comparison

XHU.TO has a 0.34% expense ratio, which is lower than ZNQ.TO's 0.39% expense ratio.

Dividends

XHU.TO vs. ZNQ.TO - Dividend Comparison

XHU.TO's dividend yield for the trailing twelve months is around 2.44%, more than ZNQ.TO's 0.20% yield.

PositionTTM20252024202320222021202020192018201720162015
XHU.TO
iShares U.S. High Dividend Equity Index ETF		2.44%2.75%2.72%2.86%2.63%2.60%3.18%2.25%2.52%2.27%2.38%2.30%
ZNQ.TO
BMO NASDAQ 100 Equity Index ETF		0.20%0.25%0.30%0.35%0.23%0.12%0.47%0.52%0.00%0.00%0.00%0.00%

Frequently Asked Questions

XHU.TO and ZNQ.TO have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XHU.TO is cheaper at 0.34% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XHU.TO is cheaper with a 0.34% expense ratio, compared with 0.39% for ZNQ.TO.

XHU.TO is categorized as Large Cap Blend Equities, while ZNQ.TO is Nasdaq-100. XHU.TO tracks Morningstar US Market TR CAD, while ZNQ.TO tracks NASDAQ-100 Index. They also come from different issuers: iShares and BMO. Their fees differ too: 0.34% for XHU.TO and 0.39% for ZNQ.TO.

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