XQQ.TO vs. WMT

Last updated Jun 9, 2026

XQQ.TO (iShares NASDAQ 100 Index ETF (CAD-Hedged)) is Nasdaq-100 fund tracking the Morningstar US Market TR CAD, while WMT (Walmart Inc.) is a stock. Over the past 10 years, XQQ.TO returned 20.00%/yr vs 20.71%/yr for WMT. At a 0.24 correlation, their price movements are largely independent.

Performance

XQQ.TO vs. WMT - 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 Walmart Inc. (WMT). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XQQ.TO is traded in CAD, while WMT is traded in USD. To make them comparable, the WMT 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 higher than WMT's 9.95% return. Both investments have delivered pretty close results over the past 10 years, with XQQ.TO having a 20.00% annualized return and WMT not far ahead at 20.71%.

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%

WMT

• 1D: 1.08%
• 1M: -6.22%
• YTD: 9.95%
• 6M: 7.00%
• 1Y: 26.49%
• 3Y*: 36.29%
• 5Y*: 25.97%
• 10Y*: 20.71%

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

XQQ.TO vs. WMT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
WMT Walmart Inc.	9.95%	18.81%	88.72%	10.20%	5.84%	1.92%	20.40%	24.80%	4.69%	36.64%

Correlation

The correlation between XQQ.TO and WMT is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.13
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (10Y) Calculated over the trailing 10-year period	0.24
Correlation (All Time) Calculated using the full available price history since May 11, 2011	0.24

The correlation between XQQ.TO and WMT shifts across timeframes, from -0.06 (1 year) to 0.24 (all time), reflecting how their relationship changes across market environments.

Return for Risk

XQQ.TO vs. WMT — 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: 51
XQQ.TO Sharpe Ratio Rank: 59
XQQ.TO Sortino Ratio Rank: 53
XQQ.TO Omega Ratio Rank: 56
XQQ.TO Calmar Ratio Rank: 45
XQQ.TO Martin Ratio Rank: 45

WMT

WMT Risk / Return Rank: 71
WMT Sharpe Ratio Rank: 73
WMT Sortino Ratio Rank: 67
WMT Omega Ratio Rank: 67
WMT Calmar Ratio Rank: 70
WMT Martin Ratio Rank: 76

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. WMT - 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 Walmart Inc. (WMT). 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.TO	WMT	Difference
Sharpe ratio: Return per unit of total volatility	1.78	1.09	+0.69
Sortino ratio: Return per unit of downside risk	2.32	1.66	+0.67
Omega ratio: Gain probability vs. loss probability	1.31	1.21	+0.10
Calmar ratio: Return relative to maximum drawdown	2.03	1.76	+0.27
Martin ratio: Return relative to average drawdown	6.80	5.88	+0.92
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. WMT - Sharpe Ratio Comparison

The current XQQ.TO Sharpe Ratio is 1.78, which is higher than the WMT Sharpe Ratio of 1.09. The chart below compares the historical Sharpe Ratios of XQQ.TO and WMT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XQQ.TO	WMT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.78	1.09	+0.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	1.16	-0.52
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	0.49	+0.34

Drawdowns

XQQ.TO vs. WMT - Drawdown Comparison

The maximum XQQ.TO drawdown since its inception was -38.25%, smaller than the maximum WMT drawdown of -47.96%. Use the drawdown chart below to compare losses from any high point for XQQ.TO and WMT.

Drawdown Indicators

	XQQ.TO	WMT	Difference
Max Drawdown Largest peak-to-trough decline	-38.25%	-47.96%	+9.71%
Max Drawdown (1Y) Largest decline over 1 year	-14.68%	-15.14%	+0.46%
Max Drawdown (3Y) Largest decline over 3 years	-22.72%	-22.27%	-0.45%
Max Drawdown (5Y) Largest decline over 5 years	-38.25%	-24.22%	-14.03%
Max Drawdown (10Y) Largest decline over 10 years	-38.25%	-24.22%	-14.03%
Current Drawdown Current decline from peak	-4.12%	-9.37%	+5.25%
Average Drawdown Average peak-to-trough decline	-5.96%	-13.53%	+7.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.37%	4.51%	-0.14%

Volatility

XQQ.TO vs. WMT - Volatility Comparison

The current volatility for iShares NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.TO) is 6.74%, while Walmart Inc. (WMT) has a volatility of 10.45%. This indicates that XQQ.TO experiences smaller price fluctuations and is considered to be less risky than WMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XQQ.TO	WMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.74%	10.45%	-3.71%
Volatility (6M) Calculated over the trailing 6-month period	13.30%	19.24%	-5.94%
Volatility (1Y) Calculated over the trailing 1-year period	16.75%	24.51%	-7.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.67%	22.53%	+0.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.48%	22.81%	-0.33%

Dividends

XQQ.TO vs. WMT - Dividend Comparison

XQQ.TO's dividend yield for the trailing twelve months is around 0.22%, less than WMT's 0.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
WMT Walmart Inc.	0.81%	0.84%	0.92%	1.45%	1.58%	1.52%	1.50%	1.78%	2.23%	2.07%	2.89%	3.20%
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

Can I hold both XQQ.TO and WMT in my portfolio?

XQQ.TO and WMT have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.