XIT.TO vs. ZNQ.TO

Last updated Jul 25, 2026

XIT.TO (iShares S&P/TSX Capped Information Technology Index ETF) and ZNQ.TO (BMO NASDAQ 100 Equity Index ETF) are both exchange-traded funds - XIT.TO is a Technology Equities fund tracking the S&P/TSX Capped Information Technology Index, while ZNQ.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, XIT.TO returned 2.87%/yr vs 16.19%/yr for ZNQ.TO. A 0.66 correlation means they provide meaningful diversification when combined. XIT.TO charges 0.60%/yr vs 0.39%/yr for ZNQ.TO.

Performance

XIT.TO vs. ZNQ.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P/TSX Capped Information Technology Index ETF (XIT.TO) and BMO NASDAQ 100 Equity Index ETF (ZNQ.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XIT.TO achieves a -13.73% return, which is significantly lower than ZNQ.TO's 14.59% return.

XIT.TO

• 1D: -0.10%
• 1M: -5.92%
• 6M: -5.28%
• YTD: -13.73%
• 1Y: -6.86%
• 3Y*: 12.98%
• 5Y*: 2.87%
• 10Y*: 16.43%
• ALL TIME*: 11.98%

ZNQ.TO

• 1D: -1.01%
• 1M: -4.55%
• 6M: 13.21%
• YTD: 14.59%
• 1Y: 25.42%
• 3Y*: 24.86%
• 5Y*: 16.19%
• 10Y*: —
• ALL TIME*: 21.91%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
XIT.TO iShares S&P/TSX Capped Information Technology Index ETF	CA$932.35K	CA$850.30K	CA$1.09M
ZNQ.TO BMO NASDAQ 100 Equity Index ETF	CA$2.18M	CA$4.88M	CA$3.43M

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
XIT.TO iShares S&P/TSX Capped Information Technology Index ETF	-13.73%	15.48%	30.02%	55.56%	-35.85%	10.74%	45.91%	42.48%
ZNQ.TO BMO NASDAQ 100 Equity Index ETF	14.59%	14.95%	35.84%	51.32%	-28.06%	26.59%	44.65%	22.53%

Correlation

The correlation between XIT.TO and ZNQ.TO is 0.50, 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	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (All Time) Calculated using the full available price history since Feb 12, 2019	0.66

The correlation between XIT.TO and ZNQ.TO shifts across timeframes, from 0.50 (1 year) to 0.67 (5 years), reflecting how their relationship changes across market environments.

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

Sectors	XIT.TO	ZNQ.TO
Technology	99.8%	59.9%
Financial Services	0.8%	0.2%
Industrials	0.2%	4.0%
Basic Materials	-	1.1%
Communication Services	-	12.8%
Consumer Cyclical	-	10.5%
Consumer Defensive	-	6.3%
Energy	-	0.5%
Healthcare	-	3.6%
Real Estate	-	0.1%
Utilities	-	1.2%

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XIT.TO

XIT.TO Risk / Return Rank: 10
XIT.TO Sharpe Ratio Rank: 9
XIT.TO Sortino Ratio Rank: 10
XIT.TO Omega Ratio Rank: 10
XIT.TO Calmar Ratio Rank: 9
XIT.TO Martin Ratio Rank: 10

ZNQ.TO

ZNQ.TO Risk / Return Rank: 57
ZNQ.TO Sharpe Ratio Rank: 58
ZNQ.TO Sortino Ratio Rank: 54
ZNQ.TO Omega Ratio Rank: 57
ZNQ.TO Calmar Ratio Rank: 60
ZNQ.TO Martin Ratio Rank: 53

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.

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

This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Capped Information Technology Index ETF (XIT.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	XIT.TO	ZNQ.TO	Difference
Sharpe ratio: Return per unit of total volatility	-0.22	1.36	-1.58
Sortino ratio: Return per unit of downside risk	-0.09	1.88	-1.97
Omega ratio: Gain probability vs. loss probability	0.99	1.25	-0.26
Calmar ratio: Return relative to maximum drawdown	-0.22	2.09	-2.30
Martin ratio: Return relative to average drawdown	-0.40	6.21	-6.61

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

The current XIT.TO Sharpe Ratio is -0.22, which is lower than the ZNQ.TO Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of XIT.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.

Drawdowns

XIT.TO vs. ZNQ.TO - Drawdown Comparison

The maximum XIT.TO drawdown since its inception was -56.92%, which is greater than ZNQ.TO's maximum drawdown of -32.09%. Use the drawdown chart below to compare losses from any high point for XIT.TO and ZNQ.TO.

Drawdown Indicators

	XIT.TO	ZNQ.TO	Difference
Max Drawdown Largest peak-to-trough decline	-56.92%	-32.09%	-24.83%
Max Drawdown (1Y) Largest decline over 1 year	-31.93%	-12.24%	-19.69%
Max Drawdown (3Y) Largest decline over 3 years	-31.93%	-22.67%	-9.26%
Max Drawdown (5Y) Largest decline over 5 years	-54.15%	-32.09%	-22.06%
Max Drawdown (10Y) Largest decline over 10 years	-54.15%	—	—
Current Drawdown Current decline from peak	-22.99%	-7.85%	-15.14%
Average Drawdown Average peak-to-trough decline	-17.01%	-6.57%	-10.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.17%	4.10%	+13.07%

Volatility

XIT.TO vs. ZNQ.TO - Volatility Comparison

The current volatility for iShares S&P/TSX Capped Information Technology Index ETF (XIT.TO) is 5.47%, while BMO NASDAQ 100 Equity Index ETF (ZNQ.TO) has a volatility of 7.21%. This indicates that XIT.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.

Volatility by Period

	XIT.TO	ZNQ.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.47%	7.21%	-1.74%
Volatility (6M) Calculated over the trailing 6-month period	24.09%	15.40%	+8.69%
Volatility (1Y) Calculated over the trailing 1-year period	31.75%	18.74%	+13.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.47%	21.29%	+8.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.59%	22.48%	+6.11%

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

XIT.TO has a 0.60% expense ratio, which is higher than ZNQ.TO's 0.39% expense ratio.

Dividends

XIT.TO vs. ZNQ.TO - Dividend Comparison

XIT.TO has not paid dividends to shareholders, while ZNQ.TO's dividend yield for the trailing twelve months is around 0.22%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XIT.TO iShares S&P/TSX Capped Information Technology Index ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.03%	0.00%	0.34%	0.00%	0.15%	0.18%	0.10%
ZNQ.TO BMO NASDAQ 100 Equity Index ETF	0.22%	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

Can I hold both XIT.TO and ZNQ.TO in my portfolio?

XIT.TO and ZNQ.TO have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XIT.TO or ZNQ.TO?

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

Which ETF is cheaper, XIT.TO or ZNQ.TO?

ZNQ.TO is cheaper with a 0.39% expense ratio, compared with 0.60% for XIT.TO.

What is the main difference between XIT.TO and ZNQ.TO?

XIT.TO is categorized as Technology Equities, while ZNQ.TO is Nasdaq-100. XIT.TO tracks S&P/TSX Capped Information Technology Index, while ZNQ.TO tracks NASDAQ-100 Index. They also come from different issuers: iShares and BMO. Their fees differ too: 0.60% for XIT.TO and 0.39% for ZNQ.TO.