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

XMM.TO vs. XQQ.TO

Last updated Jun 4, 2026

XMM.TO (iShares MSCI Min Vol Emerging Markets Index ETF) and XQQ.TO (iShares NASDAQ 100 Index ETF (CAD-Hedged)) are both exchange-traded funds - XMM.TO is a Emerging Markets Equities fund tracking the Morningstar EM 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, XMM.TO returned 6.86%/yr vs 19.70%/yr for XQQ.TO. At a 0.45 correlation, their price movements are largely independent. XMM.TO charges 0.42%/yr vs 0.39%/yr for XQQ.TO.

Performance

XMM.TO vs. XQQ.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares MSCI Min Vol Emerging Markets Index ETF (XMM.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

The year-to-date returns for both investments are quite close, with XMM.TO having a 18.98% return and XQQ.TO slightly higher at 19.81%. Over the past 10 years, XMM.TO has underperformed XQQ.TO with an annualized return of 6.86%, while XQQ.TO has yielded a comparatively higher 19.70% annualized return.

XMM.TO

1D
-0.77%
1M
9.35%
YTD
18.98%
6M
17.95%
1Y
27.44%
3Y*
15.00%
5Y*
8.00%
10Y*
6.86%

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)

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

2026 (YTD)202520242023202220212020201920182017
XMM.TO
iShares MSCI Min Vol Emerging Markets Index ETF		18.98%7.65%16.66%4.10%-7.83%3.95%4.32%1.36%2.35%18.74%
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 XMM.TO and XQQ.TO is 0.56, 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

0.56

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

0.40

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

0.37

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

0.44

Correlation (All Time)
Calculated using the full available price history since Aug 9, 2012

0.45

The correlation between XMM.TO and XQQ.TO shifts across timeframes, from 0.37 (5 years) to 0.56 (1 year), reflecting how their relationship changes across market environments.

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

Sectors
XMM.TO
XQQ.TO

Technology

23.0%
53.7%

Financial Services

14.9%
0.2%

Communication Services

7.5%
15.8%

Consumer Defensive

5.4%
7.7%

Consumer Cyclical

3.9%
12.2%

Healthcare

3.8%
4.2%

Utilities

3.7%
1.4%

Industrials

2.9%
3.1%

Energy

2.3%
0.6%

Basic Materials

1.8%
1.1%

Real Estate

0.4%
0.1%

Technology

XMM.TO
23.0%
XQQ.TO
53.7%

Financial Services

XMM.TO
14.9%
XQQ.TO
0.2%

Communication Services

XMM.TO
7.5%
XQQ.TO
15.8%

Consumer Defensive

XMM.TO
5.4%
XQQ.TO
7.7%

Consumer Cyclical

XMM.TO
3.9%
XQQ.TO
12.2%

Healthcare

XMM.TO
3.8%
XQQ.TO
4.2%

Utilities

XMM.TO
3.7%
XQQ.TO
1.4%

Industrials

XMM.TO
2.9%
XQQ.TO
3.1%

Energy

XMM.TO
2.3%
XQQ.TO
0.6%

Basic Materials

XMM.TO
1.8%
XQQ.TO
1.1%

Real Estate

XMM.TO
0.4%
XQQ.TO
0.1%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI Min Vol Emerging Markets Index ETF

iShares NASDAQ 100 Index ETF (CAD-Hedged)

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Often compared with XQQ.TO:
XQQ.TO vs. QQC.TOXQQ.TO vs. VFV.TOXQQ.TO vs. HXQ.TOXQQ.TO vs. XQQU.TOXQQ.TO vs. QQQXQQ.TO vs. ZQQ.TOXQQ.TO vs. TEC.TO

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XMM.TO
XMM.TO Risk / Return Rank: 6969
Overall Rank
XMM.TO Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
XMM.TO Sortino Ratio Rank: 7272
Sortino Ratio Rank
XMM.TO Omega Ratio Rank: 7878
Omega Ratio Rank
XMM.TO Calmar Ratio Rank: 6464
Calmar Ratio Rank
XMM.TO Martin Ratio Rank: 6363
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.

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

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Min Vol Emerging Markets Index ETF (XMM.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.

XMM.TOXQQ.TODifference
Sharpe ratioReturn per unit of total volatility
2.19
2.45

-0.25

Sortino ratioReturn per unit of downside risk
3.24
3.20

+0.03

Omega ratioGain probability vs. loss probability

1.46

1.42

+0.04

Calmar ratioReturn relative to maximum drawdown

3.15

3.03

+0.11

Martin ratioReturn relative to average drawdown

11.25

11.31

-0.06

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

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

The current XMM.TO Sharpe Ratio is 2.19, which is comparable to the XQQ.TO Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of XMM.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

XMM.TOXQQ.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.19

2.45

-0.25

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.77

0.68

+0.09

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.57

0.89

-0.31

Sharpe Ratio (All Time)

Calculated using the full available price history

0.55

0.86

-0.31

Drawdowns

XMM.TO vs. XQQ.TO - Drawdown Comparison

The maximum XMM.TO drawdown since its inception was -22.07%, smaller than the maximum XQQ.TO drawdown of -38.55%. Use the drawdown chart below to compare losses from any high point for XMM.TO and XQQ.TO.

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Drawdown Indicators

XMM.TOXQQ.TODifference

Max Drawdown

Largest peak-to-trough decline

-22.07%

-38.55%

+16.48%

Max Drawdown (1Y)

Largest decline over 1 year

-8.76%

-12.76%

+4.00%

Max Drawdown (3Y)

Largest decline over 3 years

-9.94%

-22.72%

+12.78%

Max Drawdown (5Y)

Largest decline over 5 years

-15.42%

-38.55%

+23.13%

Max Drawdown (10Y)

Largest decline over 10 years

-22.07%

-38.55%

+16.48%

Current Drawdown

Current decline from peak

-0.77%

-0.27%

-0.50%

Average Drawdown

Average peak-to-trough decline

-5.21%

-5.92%

+0.71%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.45%

3.41%

-0.96%

Volatility

XMM.TO vs. XQQ.TO - Volatility Comparison

iShares MSCI Min Vol Emerging Markets Index ETF (XMM.TO) has a higher volatility of 5.38% compared to iShares NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.TO) at 4.48%. This indicates that XMM.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

XMM.TOXQQ.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.38%

4.48%

+0.90%

Volatility (6M)

Calculated over the trailing 6-month period

11.25%

12.00%

-0.75%

Volatility (1Y)

Calculated over the trailing 1-year period

12.57%

15.82%

-3.25%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.40%

22.52%

-12.12%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

12.02%

22.34%

-10.32%

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

XMM.TO has a 0.42% expense ratio, which is higher than XQQ.TO's 0.39% expense ratio.

Dividends

XMM.TO vs. XQQ.TO - Dividend Comparison

XMM.TO's dividend yield for the trailing twelve months is around 2.00%, more than XQQ.TO's 0.21% yield.

PositionTTM20252024202320222021202020192018201720162015
XMM.TO
iShares MSCI Min Vol Emerging Markets Index ETF		2.00%2.37%2.95%2.55%1.55%1.91%2.09%2.44%2.21%2.09%2.32%2.16%
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

XMM.TO and XQQ.TO have a correlation of 0.56, 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 0.42% for XMM.TO.

XMM.TO is categorized as Emerging Markets Equities, while XQQ.TO is Nasdaq-100. XMM.TO tracks Morningstar EM GR CAD, while XQQ.TO tracks Morningstar US Market TR CAD. Their fees differ too: 0.42% for XMM.TO and 0.39% for XQQ.TO.

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