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XMA.TO vs. QQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XMA.TO vs. QQQ

Last updated Jun 4, 2026

XMA.TO (iShares S&P/TSX Capped Materials Index ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - XMA.TO is a Materials fund tracking the S&P/TSX Capped Materials TR, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, XMA.TO returned 14.00%/yr vs 22.80%/yr for QQQ. At a 0.16 correlation, their price movements are largely independent. XMA.TO charges 0.60%/yr vs 0.18%/yr for QQQ.

Performance

XMA.TO vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P/TSX Capped Materials Index ETF (XMA.TO) and Invesco QQQ ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

XMA.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, XMA.TO achieves a 7.60% return, which is significantly lower than QQQ's 22.67% return. Over the past 10 years, XMA.TO has underperformed QQQ with an annualized return of 14.00%, while QQQ has yielded a comparatively higher 22.80% annualized return.

XMA.TO

1D
-3.13%
1M
5.70%
YTD
7.60%
6M
12.34%
1Y
64.71%
3Y*
35.49%
5Y*
20.09%
10Y*
14.00%

QQQ

1D
0.00%
1M
12.65%
YTD
22.67%
6M
19.03%
1Y
43.44%
3Y*
30.21%
5Y*
21.31%
10Y*
22.80%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XMA.TO vs. QQQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XMA.TO
iShares S&P/TSX Capped Materials Index ETF		7.60%99.21%20.72%-2.04%1.35%3.31%19.73%24.63%-10.46%7.07%
QQQ
Invesco QQQ ETF		22.84%15.23%36.37%51.45%-27.77%26.27%46.11%32.13%8.34%24.22%

Correlation

The correlation between XMA.TO and QQQ is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.21

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

0.18

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

0.16

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

0.16

Correlation (All Time)
Calculated using the full available price history since Jun 23, 2009

0.16

XMA.TO vs. QQQ - Sectors Allocation Comparison

Sectors
XMA.TO
QQQ

Basic Materials

98.4%
1.1%

Consumer Cyclical

1.6%
12.3%

Industrials

0.0%
2.8%

Communication Services

-

15.8%

Consumer Defensive

-

7.7%

Energy

-

0.6%

Financial Services

-

0.2%

Healthcare

-

4.2%

Real Estate

-

0.1%

Technology

-

53.8%

Utilities

-

1.4%

Basic Materials

XMA.TO
98.4%
QQQ
1.1%

Consumer Cyclical

XMA.TO
1.6%
QQQ
12.3%

Industrials

XMA.TO
0.0%
QQQ
2.8%

Communication Services

XMA.TO

-

QQQ
15.8%

Consumer Defensive

XMA.TO

-

QQQ
7.7%

Energy

XMA.TO

-

QQQ
0.6%

Financial Services

XMA.TO

-

QQQ
0.2%

Healthcare

XMA.TO

-

QQQ
4.2%

Real Estate

XMA.TO

-

QQQ
0.1%

Technology

XMA.TO

-

QQQ
53.8%

Utilities

XMA.TO

-

QQQ
1.4%

Compare stocks, funds, or ETFs

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iShares S&P/TSX Capped Materials Index ETF

Invesco QQQ ETF

Often compared with XMA.TO:
XMA.TO vs. XGD.TOXMA.TO vs. XETM.TOXMA.TO vs. XIC.TOXMA.TO vs. ZUT.TOXMA.TO vs. XIT.TOXMA.TO vs. XEQT.TOXMA.TO vs. XBM.TO
Often compared with QQQ:
QQQ vs. SPYQQQ vs. VOOQQQ vs. VGTQQQ vs. TQQQQQQ vs. SMHQQQ vs. QQQMQQQ vs. QQQI

Return for Risk

XMA.TO vs. QQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XMA.TO
XMA.TO Risk / Return Rank: 4646
Overall Rank
XMA.TO Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
XMA.TO Sortino Ratio Rank: 4141
Sortino Ratio Rank
XMA.TO Omega Ratio Rank: 4848
Omega Ratio Rank
XMA.TO Calmar Ratio Rank: 4848
Calmar Ratio Rank
XMA.TO Martin Ratio Rank: 4242
Martin Ratio Rank
QQQ
QQQ Risk / Return Rank: 7373
Overall Rank
QQQ Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 7575
Sortino Ratio Rank
QQQ Omega Ratio Rank: 7474
Omega Ratio Rank
QQQ Calmar Ratio Rank: 6969
Calmar Ratio Rank
QQQ Martin Ratio Rank: 7171
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.

XMA.TO vs. QQQ - Risk-Adjusted Trends Comparison

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

XMA.TOQQQDifference
Sharpe ratioReturn per unit of total volatility
1.75
2.80

-1.04

Sortino ratioReturn per unit of downside risk
2.11
3.63

-1.52

Omega ratioGain probability vs. loss probability

1.31

1.50

-0.19

Calmar ratioReturn relative to maximum drawdown

2.41

3.55

-1.14

Martin ratioReturn relative to average drawdown

6.76

11.34

-4.58

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

XMA.TO vs. QQQ - Sharpe Ratio Comparison

The current XMA.TO Sharpe Ratio is 1.75, which is lower than the QQQ Sharpe Ratio of 2.80. The chart below compares the historical Sharpe Ratios of XMA.TO and QQQ, 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

XMA.TOQQQDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.75

2.80

-1.04

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.73

1.03

-0.30

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.53

1.10

-0.57

Sharpe Ratio (All Time)

Calculated using the full available price history

0.28

1.19

-0.91

Drawdowns

XMA.TO vs. QQQ - Drawdown Comparison

The maximum XMA.TO drawdown since its inception was -64.13%, which is greater than QQQ's maximum drawdown of -31.80%. Use the drawdown chart below to compare losses from any high point for XMA.TO and QQQ.

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Drawdown Indicators

XMA.TOQQQDifference

Max Drawdown

Largest peak-to-trough decline

-64.13%

-31.80%

-32.33%

Max Drawdown (1Y)

Largest decline over 1 year

-26.96%

-12.29%

-14.67%

Max Drawdown (3Y)

Largest decline over 3 years

-26.96%

-22.58%

-4.38%

Max Drawdown (5Y)

Largest decline over 5 years

-33.06%

-31.80%

-1.26%

Max Drawdown (10Y)

Largest decline over 10 years

-33.06%

-31.80%

-1.26%

Current Drawdown

Current decline from peak

-18.76%

0.00%

-18.76%

Average Drawdown

Average peak-to-trough decline

-26.31%

-4.73%

-21.58%

Ulcer Index

Depth and duration of drawdowns from previous peaks

9.60%

3.84%

+5.76%

Volatility

XMA.TO vs. QQQ - Volatility Comparison

iShares S&P/TSX Capped Materials Index ETF (XMA.TO) has a higher volatility of 13.42% compared to Invesco QQQ ETF (QQQ) at 4.35%. This indicates that XMA.TO's price experiences larger fluctuations and is considered to be riskier 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

XMA.TOQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

13.42%

4.35%

+9.07%

Volatility (6M)

Calculated over the trailing 6-month period

30.86%

11.80%

+19.06%

Volatility (1Y)

Calculated over the trailing 1-year period

37.08%

15.62%

+21.46%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

27.55%

20.72%

+6.83%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

26.56%

20.82%

+5.74%

XMA.TO vs. QQQ - Expense Ratio Comparison

XMA.TO has a 0.60% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

XMA.TO vs. QQQ - Dividend Comparison

XMA.TO's dividend yield for the trailing twelve months is around 0.37%, less than QQQ's 0.38% yield.

PositionTTM20252024202320222021202020192018201720162015
QQQ
Invesco QQQ ETF		0.38%0.45%0.56%0.62%0.80%0.43%0.55%0.74%0.91%0.84%1.06%0.99%
XMA.TO
iShares S&P/TSX Capped Materials Index ETF		0.37%0.41%0.83%1.26%1.24%0.87%0.63%0.62%0.72%0.42%0.82%1.90%

Frequently Asked Questions

XMA.TO and QQQ have a correlation of 0.21, 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 0.60% for XMA.TO.

XMA.TO is categorized as Materials, while QQQ is Nasdaq-100. XMA.TO tracks S&P/TSX Capped Materials TR, while QQQ tracks NASDAQ-100 Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.60% for XMA.TO and 0.18% for QQQ.

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