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

XQQ.TO vs. DXJ

Last updated Jun 9, 2026

XQQ.TO (iShares NASDAQ 100 Index ETF (CAD-Hedged)) and DXJ (WisdomTree Japan Hedged Equity Fund) are both exchange-traded funds - XQQ.TO is a Nasdaq-100 fund tracking the Morningstar US Market TR CAD, while DXJ is a Japan Equities fund tracking the WisdomTree Japan Hedged Equity Index. Both are passively managed. Over the past 10 years, XQQ.TO returned 20.00%/yr vs 19.32%/yr for DXJ. At a 0.46 correlation, their price movements are largely independent. XQQ.TO charges 0.39%/yr vs 0.48%/yr for DXJ.

Performance

XQQ.TO vs. DXJ - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.TO) and WisdomTree Japan Hedged Equity Fund (DXJ). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

XQQ.TO is traded in CAD, while DXJ is traded in USD. To make them comparable, the DXJ values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XQQ.TO achieves a 15.19% return, which is significantly lower than DXJ's 20.01% return. Both investments have delivered pretty close results over the past 10 years, with XQQ.TO having a 20.00% annualized return and DXJ not far behind at 19.32%.

XQQ.TO

1D
1.43%
1M
0.65%
YTD
15.19%
6M
10.98%
1Y
29.64%
3Y*
24.33%
5Y*
14.33%
10Y*
20.00%

DXJ

1D
0.67%
1M
4.12%
YTD
20.01%
6M
21.97%
1Y
54.44%
3Y*
33.66%
5Y*
29.53%
10Y*
19.32%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XQQ.TO vs. DXJ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XQQ.TO
iShares NASDAQ 100 Index ETF (CAD-Hedged)		15.19%15.77%24.69%53.25%-33.13%22.76%46.12%38.92%-1.32%33.41%
DXJ
WisdomTree Japan Hedged Equity Fund		20.01%26.72%40.82%38.66%12.68%17.93%1.47%14.04%-13.04%14.49%

Correlation

The correlation between XQQ.TO and DXJ is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.42

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

0.41

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

0.46

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

0.47

Correlation (All Time)
Calculated using the full available price history since May 11, 2011

0.46

XQQ.TO vs. DXJ - Sectors Allocation Comparison

Sectors
XQQ.TO
DXJ

Technology

53.7%
12.9%

Communication Services

15.8%
2.7%

Consumer Cyclical

12.2%
15.6%

Consumer Defensive

7.7%
4.7%

Healthcare

4.2%
6.8%

Industrials

3.1%
27.4%

Utilities

1.4%
0.1%

Basic Materials

1.1%
8.5%

Energy

0.6%
1.7%

Financial Services

0.2%
18.3%

Real Estate

0.1%

-

Technology

XQQ.TO
53.7%
DXJ
12.9%

Communication Services

XQQ.TO
15.8%
DXJ
2.7%

Consumer Cyclical

XQQ.TO
12.2%
DXJ
15.6%

Consumer Defensive

XQQ.TO
7.7%
DXJ
4.7%

Healthcare

XQQ.TO
4.2%
DXJ
6.8%

Industrials

XQQ.TO
3.1%
DXJ
27.4%

Utilities

XQQ.TO
1.4%
DXJ
0.1%

Basic Materials

XQQ.TO
1.1%
DXJ
8.5%

Energy

XQQ.TO
0.6%
DXJ
1.7%

Financial Services

XQQ.TO
0.2%
DXJ
18.3%

Real Estate

XQQ.TO
0.1%
DXJ

-

Compare stocks, funds, or ETFs

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

iShares NASDAQ 100 Index ETF (CAD-Hedged)

WisdomTree Japan Hedged Equity Fund

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Often compared with DXJ:
DXJ vs. EWJDXJ vs. EWJVDXJ vs. DXJSDXJ vs. FLJPDXJ vs. BBJPDXJ vs. VOODXJ vs. DBJP

Return for Risk

XQQ.TO vs. DXJ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XQQ.TO
XQQ.TO Risk / Return Rank: 5151
Overall Rank
XQQ.TO Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
XQQ.TO Sortino Ratio Rank: 5353
Sortino Ratio Rank
XQQ.TO Omega Ratio Rank: 5656
Omega Ratio Rank
XQQ.TO Calmar Ratio Rank: 4545
Calmar Ratio Rank
XQQ.TO Martin Ratio Rank: 4545
Martin Ratio Rank
DXJ
DXJ Risk / Return Rank: 9090
Overall Rank
DXJ Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
DXJ Sortino Ratio Rank: 9191
Sortino Ratio Rank
DXJ Omega Ratio Rank: 9090
Omega Ratio Rank
DXJ Calmar Ratio Rank: 8888
Calmar Ratio Rank
DXJ Martin Ratio Rank: 8989
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.

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

This table presents a comparison of risk-adjusted performance metrics for iShares NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.TO) and WisdomTree Japan Hedged Equity Fund (DXJ). 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.

XQQ.TODXJDifference
Sharpe ratioReturn per unit of total volatility
1.78
3.05

-1.27

Sortino ratioReturn per unit of downside risk
2.32
4.06

-1.74

Omega ratioGain probability vs. loss probability

1.31

1.53

-0.22

Calmar ratioReturn relative to maximum drawdown

2.03

5.09

-3.06

Martin ratioReturn relative to average drawdown

6.80

19.22

-12.42

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

XQQ.TO vs. DXJ - Sharpe Ratio Comparison

The current XQQ.TO Sharpe Ratio is 1.78, which is lower than the DXJ Sharpe Ratio of 3.05. The chart below compares the historical Sharpe Ratios of XQQ.TO and DXJ, 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

XQQ.TODXJDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.78

3.05

-1.27

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.64

1.48

-0.85

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.90

0.91

-0.02

Sharpe Ratio (All Time)

Calculated using the full available price history

0.83

0.47

+0.36

Drawdowns

XQQ.TO vs. DXJ - Drawdown Comparison

The maximum XQQ.TO drawdown since its inception was -38.25%, smaller than the maximum DXJ drawdown of -51.50%. Use the drawdown chart below to compare losses from any high point for XQQ.TO and DXJ.

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Drawdown Indicators

XQQ.TODXJDifference

Max Drawdown

Largest peak-to-trough decline

-38.25%

-51.50%

+13.25%

Max Drawdown (1Y)

Largest decline over 1 year

-14.68%

-10.75%

-3.93%

Max Drawdown (3Y)

Largest decline over 3 years

-22.72%

-20.75%

-1.97%

Max Drawdown (5Y)

Largest decline over 5 years

-38.25%

-20.75%

-17.50%

Max Drawdown (10Y)

Largest decline over 10 years

-38.25%

-32.56%

-5.69%

Current Drawdown

Current decline from peak

-4.12%

-1.70%

-2.42%

Average Drawdown

Average peak-to-trough decline

-5.96%

-15.96%

+10.00%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.37%

2.84%

+1.53%

Volatility

XQQ.TO vs. DXJ - Volatility Comparison

iShares NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.TO) has a higher volatility of 6.74% compared to WisdomTree Japan Hedged Equity Fund (DXJ) at 4.44%. This indicates that XQQ.TO's price experiences larger fluctuations and is considered to be riskier than DXJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XQQ.TODXJDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.74%

4.44%

+2.30%

Volatility (6M)

Calculated over the trailing 6-month period

13.30%

13.85%

-0.55%

Volatility (1Y)

Calculated over the trailing 1-year period

16.75%

17.95%

-1.20%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.67%

20.04%

+2.63%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.48%

21.26%

+1.22%

XQQ.TO vs. DXJ - Expense Ratio Comparison

XQQ.TO has a 0.39% expense ratio, which is lower than DXJ's 0.48% expense ratio.

Dividends

XQQ.TO vs. DXJ - Dividend Comparison

XQQ.TO's dividend yield for the trailing twelve months is around 0.22%, less than DXJ's 1.10% yield.

PositionTTM20252024202320222021202020192018201720162015
DXJ
WisdomTree Japan Hedged Equity Fund		1.10%1.29%3.48%3.44%3.02%2.64%2.53%2.47%2.92%2.30%1.98%5.95%
XQQ.TO
iShares NASDAQ 100 Index ETF (CAD-Hedged)		0.22%0.25%0.67%0.93%1.27%0.52%0.80%1.44%1.61%1.64%2.35%1.93%

Frequently Asked Questions

XQQ.TO and DXJ have a correlation of 0.42, 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 0.48% for DXJ.

XQQ.TO is categorized as Nasdaq-100, while DXJ is Japan Equities. XQQ.TO tracks Morningstar US Market TR CAD, while DXJ tracks WisdomTree Japan Hedged Equity Index. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.39% for XQQ.TO and 0.48% for DXJ.

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