XLB.TO vs. QQQ
XLB.TO (iShares Core Canadian Long Term Bond Index ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - XLB.TO is a Canadian Government Bonds fund tracking the Morningstar Can 10+Y Core Bd GR CAD, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, XLB.TO returned 0.73%/yr vs 22.84%/yr for QQQ. At a correlation of -0.10, they often move in opposite directions. XLB.TO charges 0.20%/yr vs 0.18%/yr for QQQ.
Performance
XLB.TO vs. QQQ - Performance Comparison
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Different Trading Currencies
XLB.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, XLB.TO achieves a 2.39% return, which is significantly lower than QQQ's 20.01% return. Over the past 10 years, XLB.TO has underperformed QQQ with an annualized return of 0.73%, while QQQ has yielded a comparatively higher 22.84% annualized return.
XLB.TO
- 1D
- -0.11%
- 1M
- 1.92%
- YTD
- 2.39%
- 6M
- 2.94%
- 1Y
- 3.38%
- 3Y*
- 3.43%
- 5Y*
- -1.77%
- 10Y*
- 0.73%
QQQ
- 1D
- 0.82%
- 1M
- 3.00%
- YTD
- 20.01%
- 6M
- 19.59%
- 1Y
- 38.93%
- 3Y*
- 28.34%
- 5Y*
- 20.28%
- 10Y*
- 22.84%
XLB.TO vs. QQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XLB.TO iShares Core Canadian Long Term Bond Index ETF | 2.39% | -0.76% | 0.71% | 9.15% | -21.64% | -4.59% | 11.18% | 12.85% | -0.25% | 7.11% |
QQQ Invesco QQQ ETF | 20.08% | 15.26% | 36.21% | 51.17% | -28.30% | 27.36% | 45.10% | 33.23% | 8.27% | 23.68% |
Correlation
The correlation between XLB.TO and QQQ is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Nov 10, 2006 | -0.10 |
The correlation between XLB.TO and QQQ shifts across timeframes, from -0.10 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XLB.TO vs. QQQ — Risk / Return Rank
XLB.TO
QQQ
XLB.TO vs. QQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Canadian Long Term Bond Index ETF (XLB.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.
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.
| XLB.TO | QQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.82 | ||
| Sortino ratioReturn per unit of downside risk | -2.32 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.39 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 0.70 | 3.20 | -2.50 |
| Martin ratioReturn relative to average drawdown | 1.34 | 10.40 | -9.07 |
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Drawdowns
XLB.TO vs. QQQ - Drawdown Comparison
The maximum XLB.TO drawdown since its inception was -32.97%, smaller than the maximum QQQ drawdown of -37.57%. Use the drawdown chart below to compare losses from any high point for XLB.TO and QQQ.
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Drawdown Indicators
| XLB.TO | QQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.97% | -37.57% | +4.60% |
Max Drawdown (1Y)Largest decline over 1 year | -4.85% | -12.21% | +7.36% |
Max Drawdown (3Y)Largest decline over 3 years | -11.66% | -22.62% | +10.96% |
Max Drawdown (5Y)Largest decline over 5 years | -27.81% | -32.34% | +4.53% |
Max Drawdown (10Y)Largest decline over 10 years | -32.97% | -32.34% | -0.63% |
Current DrawdownCurrent decline from peak | -18.72% | -2.35% | -16.37% |
Average DrawdownAverage peak-to-trough decline | -7.72% | -6.68% | -1.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.53% | 3.76% | -1.23% |
Volatility
XLB.TO vs. QQQ - Volatility Comparison
The current volatility for iShares Core Canadian Long Term Bond Index ETF (XLB.TO) is 2.89%, while Invesco QQQ ETF (QQQ) has a volatility of 7.64%. This indicates that XLB.TO experiences smaller price fluctuations and is considered to be less risky 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
| XLB.TO | QQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.89% | 7.64% | -4.75% |
Volatility (6M)Calculated over the trailing 6-month period | 5.76% | 14.07% | -8.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.00% | 17.40% | -9.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.36% | 23.33% | -10.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.67% | 23.34% | -11.67% |
XLB.TO vs. QQQ - Expense Ratio Comparison
XLB.TO has a 0.20% expense ratio, which is higher than QQQ's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
XLB.TO vs. QQQ - Dividend Comparison
XLB.TO's dividend yield for the trailing twelve months is around 4.02%, more than QQQ's 0.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QQQ Invesco QQQ ETF | 0.39% | 0.45% | 0.56% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% |
XLB.TO iShares Core Canadian Long Term Bond Index ETF | 4.02% | 4.05% | 3.82% | 3.73% | 3.97% | 3.03% | 2.90% | 3.18% | 3.56% | 3.45% | 3.62% | 3.64% |
Frequently Asked Questions
XLB.TO and QQQ have a correlation of 0.24, 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 0.20% for XLB.TO.
XLB.TO is categorized as Canadian Government Bonds, while QQQ is Nasdaq-100. XLB.TO tracks Morningstar Can 10+Y Core Bd GR CAD, while QQQ tracks NASDAQ-100 Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.20% for XLB.TO and 0.18% for QQQ.
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