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XQQU.TO vs. QQCL.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XQQU.TO vs. QQCL.TO

Last updated Jun 4, 2026

XQQU.TO (iShares NASDAQ 100 Index ETF) and QQCL.TO (Global X Enhanced NASDAQ-100 Covered Call ETF) are both Nasdaq-100 funds. XQQU.TO is passively managed, while QQCL.TO is actively managed. Over the past year, XQQU.TO returned 43.63% vs 43.99% for QQCL.TO. Their correlation of 0.90 suggests significant overlap in exposure. XQQU.TO charges 0.39%/yr vs 0.85%/yr for QQCL.TO.

Performance

XQQU.TO vs. QQCL.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares NASDAQ 100 Index ETF (XQQU.TO) and Global X Enhanced NASDAQ-100 Covered Call ETF (QQCL.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XQQU.TO achieves a 22.83% return, which is significantly higher than QQCL.TO's 20.85% return.

XQQU.TO

1D
0.47%
1M
13.16%
YTD
22.83%
6M
19.29%
1Y
43.63%
3Y*
—
5Y*
—
10Y*
—

QQCL.TO

1D
0.47%
1M
12.39%
YTD
20.85%
6M
17.94%
1Y
43.99%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XQQU.TO vs. QQCL.TO - Yearly Performance Comparison

2026 (YTD)202520242023
XQQU.TO
iShares NASDAQ 100 Index ETF		22.83%15.17%36.07%7.80%
QQCL.TO
Global X Enhanced NASDAQ-100 Covered Call ETF		20.85%13.10%41.38%5.48%

Correlation

The correlation between XQQU.TO and QQCL.TO is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.93

Correlation (All Time)
Calculated using the full available price history since Oct 12, 2023

0.90

The correlation between XQQU.TO and QQCL.TO has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

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

Global X Enhanced NASDAQ-100 Covered Call ETF

Often compared with XQQU.TO:
XQQU.TO vs. XQQ.TOXQQU.TO vs. ZNQ.TOXQQU.TO vs. QQC.TOXQQU.TO vs. VFV.TOXQQU.TO vs. QQU.TOXQQU.TO vs. TEC.TOXQQU.TO vs. XEQT.TO
Often compared with QQCL.TO:
QQCL.TO vs. QQC.TOQQCL.TO vs. QQCC.TOQQCL.TO vs. HYLDQQCL.TO vs. QMAX.TOQQCL.TO vs. QYLDQQCL.TO vs. XEQT.TOQQCL.TO vs. QQQY.TO

Return for Risk

XQQU.TO vs. QQCL.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XQQU.TO
XQQU.TO Risk / Return Rank: 7676
Overall Rank
XQQU.TO Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
XQQU.TO Sortino Ratio Rank: 8080
Sortino Ratio Rank
XQQU.TO Omega Ratio Rank: 8080
Omega Ratio Rank
XQQU.TO Calmar Ratio Rank: 7171
Calmar Ratio Rank
XQQU.TO Martin Ratio Rank: 6363
Martin Ratio Rank
QQCL.TO
QQCL.TO Risk / Return Rank: 8181
Overall Rank
QQCL.TO Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
QQCL.TO Sortino Ratio Rank: 8080
Sortino Ratio Rank
QQCL.TO Omega Ratio Rank: 8282
Omega Ratio Rank
QQCL.TO Calmar Ratio Rank: 7979
Calmar Ratio Rank
QQCL.TO Martin Ratio Rank: 7878
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.

XQQU.TO vs. QQCL.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares NASDAQ 100 Index ETF (XQQU.TO) and Global X Enhanced NASDAQ-100 Covered Call ETF (QQCL.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.

XQQU.TOQQCL.TODifference
Sharpe ratioReturn per unit of total volatility
2.81
2.81

0.00

Sortino ratioReturn per unit of downside risk
3.67
3.65

+0.02

Omega ratioGain probability vs. loss probability

1.49

1.51

-0.02

Calmar ratioReturn relative to maximum drawdown

3.61

4.14

-0.53

Martin ratioReturn relative to average drawdown

11.54

15.49

-3.95

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

XQQU.TO vs. QQCL.TO - Sharpe Ratio Comparison

The current XQQU.TO Sharpe Ratio is 2.81, which is comparable to the QQCL.TO Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of XQQU.TO and QQCL.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

XQQU.TOQQCL.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.81

2.81

0.00

Sharpe Ratio (All Time)

Calculated using the full available price history

1.61

1.52

+0.09

Drawdowns

XQQU.TO vs. QQCL.TO - Drawdown Comparison

The maximum XQQU.TO drawdown since its inception was -22.68%, smaller than the maximum QQCL.TO drawdown of -25.63%. Use the drawdown chart below to compare losses from any high point for XQQU.TO and QQCL.TO.

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Drawdown Indicators

XQQU.TOQQCL.TODifference

Max Drawdown

Largest peak-to-trough decline

-22.68%

-25.63%

+2.95%

Max Drawdown (1Y)

Largest decline over 1 year

-12.16%

-10.68%

-1.48%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-3.37%

-3.32%

-0.05%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.79%

2.85%

+0.94%

Volatility

XQQU.TO vs. QQCL.TO - Volatility Comparison

iShares NASDAQ 100 Index ETF (XQQU.TO) and Global X Enhanced NASDAQ-100 Covered Call ETF (QQCL.TO) have volatilities of 4.36% and 4.30%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XQQU.TOQQCL.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.36%

4.30%

+0.06%

Volatility (6M)

Calculated over the trailing 6-month period

11.78%

12.58%

-0.80%

Volatility (1Y)

Calculated over the trailing 1-year period

15.61%

15.74%

-0.13%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.77%

20.38%

-0.61%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.77%

20.38%

-0.61%

XQQU.TO vs. QQCL.TO - Expense Ratio Comparison

XQQU.TO has a 0.39% expense ratio, which is lower than QQCL.TO's 0.85% expense ratio.

Dividends

XQQU.TO vs. QQCL.TO - Dividend Comparison

XQQU.TO's dividend yield for the trailing twelve months is around 0.21%, less than QQCL.TO's 13.15% yield.

PositionTTM202520242023
QQCL.TO
Global X Enhanced NASDAQ-100 Covered Call ETF		13.15%14.54%11.87%3.68%
XQQU.TO
iShares NASDAQ 100 Index ETF		0.21%0.26%0.20%0.10%

Frequently Asked Questions

With a correlation of 0.93, XQQU.TO and QQCL.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

On fees, XQQU.TO is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XQQU.TO is cheaper with a 0.39% expense ratio, compared with 0.85% for QQCL.TO.

They also come from different issuers: iShares and Global X. Their fees differ too: 0.39% for XQQU.TO and 0.85% for QQCL.TO.

Portfolio Optimizer

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