XQQ.TO vs. XBB.TO
XQQ.TO (iShares NASDAQ 100 Index ETF (CAD-Hedged)) and XBB.TO (iShares Core Canadian Universe Bond Index ETF) are both exchange-traded funds - XQQ.TO is a Nasdaq-100 fund tracking the Morningstar US Market TR CAD, while XBB.TO is a Intermediate Core Bond fund tracking the FTSE Canada Universe Bond Index. Both are passively managed. Over the past 10 years, XQQ.TO returned 20.19%/yr vs 1.63%/yr for XBB.TO. At a correlation of -0.06, they often move in opposite directions. XQQ.TO charges 0.39%/yr vs 0.10%/yr for XBB.TO.
Performance
XQQ.TO vs. XBB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XQQ.TO achieves a 19.59% return, which is significantly higher than XBB.TO's 1.72% return. Over the past 10 years, XQQ.TO has outperformed XBB.TO with an annualized return of 20.19%, while XBB.TO has yielded a comparatively lower 1.63% annualized return.
XQQ.TO
- 1D
- 3.04%
- 1M
- 4.80%
- YTD
- 19.59%
- 6M
- 17.73%
- 1Y
- 35.57%
- 3Y*
- 24.45%
- 5Y*
- 14.91%
- 10Y*
- 20.19%
XBB.TO
- 1D
- 0.07%
- 1M
- 2.10%
- YTD
- 1.72%
- 6M
- 1.94%
- 1Y
- 4.05%
- 3Y*
- 4.40%
- 5Y*
- 0.73%
- 10Y*
- 1.63%
XQQ.TO vs. XBB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XQQ.TO iShares NASDAQ 100 Index ETF (CAD-Hedged) | 19.59% | 15.77% | 24.69% | 53.25% | -33.13% | 22.76% | 46.12% | 38.92% | -1.32% | 33.41% |
XBB.TO iShares Core Canadian Universe Bond Index ETF | 1.72% | 2.59% | 4.00% | 6.64% | -11.66% | -2.81% | 8.58% | 7.28% | 1.00% | 2.42% |
Correlation
The correlation between XQQ.TO and XBB.TO is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since May 10, 2011 | -0.06 |
The correlation between XQQ.TO and XBB.TO shifts across timeframes, from -0.06 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XQQ.TO vs. XBB.TO — Risk / Return Rank
XQQ.TO
XBB.TO
XQQ.TO vs. XBB.TO - 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 iShares Core Canadian Universe Bond Index ETF (XBB.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.
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.
| XQQ.TO | XBB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.12 | ||
| Sortino ratioReturn per unit of downside risk | +1.39 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.16 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.43 | 1.49 | +0.94 |
| Martin ratioReturn relative to average drawdown | 8.08 | 3.47 | +4.60 |
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Drawdowns
XQQ.TO vs. XBB.TO - Drawdown Comparison
The maximum XQQ.TO drawdown since its inception was -38.25%, which is greater than XBB.TO's maximum drawdown of -18.16%. Use the drawdown chart below to compare losses from any high point for XQQ.TO and XBB.TO.
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Drawdown Indicators
| XQQ.TO | XBB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.25% | -18.16% | -20.09% |
Max Drawdown (1Y)Largest decline over 1 year | -14.68% | -2.73% | -11.95% |
Max Drawdown (3Y)Largest decline over 3 years | -22.72% | -5.42% | -17.30% |
Max Drawdown (5Y)Largest decline over 5 years | -38.25% | -15.90% | -22.35% |
Max Drawdown (10Y)Largest decline over 10 years | -38.25% | -18.16% | -20.09% |
Current DrawdownCurrent decline from peak | -0.45% | -1.18% | +0.73% |
Average DrawdownAverage peak-to-trough decline | -5.96% | -3.07% | -2.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.42% | 1.17% | +3.25% |
Volatility
XQQ.TO vs. XBB.TO - Volatility Comparison
iShares NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.TO) has a higher volatility of 7.98% compared to iShares Core Canadian Universe Bond Index ETF (XBB.TO) at 1.44%. This indicates that XQQ.TO's price experiences larger fluctuations and is considered to be riskier than XBB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XQQ.TO | XBB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.98% | 1.44% | +6.54% |
Volatility (6M)Calculated over the trailing 6-month period | 14.18% | 3.26% | +10.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.42% | 4.37% | +13.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.77% | 6.63% | +16.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.53% | 6.70% | +15.83% |
XQQ.TO vs. XBB.TO - Expense Ratio Comparison
XQQ.TO has a 0.39% expense ratio, which is higher than XBB.TO's 0.10% expense ratio.
Dividends
XQQ.TO vs. XBB.TO - Dividend Comparison
XQQ.TO's dividend yield for the trailing twelve months is around 0.21%, less than XBB.TO's 3.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XBB.TO iShares Core Canadian Universe Bond Index ETF | 3.40% | 3.39% | 3.25% | 3.01% | 2.91% | 2.54% | 2.55% | 2.80% | 2.92% | 2.83% | 2.81% | 2.87% |
XQQ.TO iShares NASDAQ 100 Index ETF (CAD-Hedged) | 0.21% | 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 XBB.TO have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XBB.TO is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XBB.TO is cheaper with a 0.10% expense ratio, compared with 0.39% for XQQ.TO.
XQQ.TO is categorized as Nasdaq-100, while XBB.TO is Intermediate Core Bond. XQQ.TO tracks Morningstar US Market TR CAD, while XBB.TO tracks FTSE Canada Universe Bond Index. Their fees differ too: 0.39% for XQQ.TO and 0.10% for XBB.TO.
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