XQQU.TO vs. QQQ

Last updated Jun 4, 2026

XQQU.TO (iShares NASDAQ 100 Index ETF) and QQQ (Invesco QQQ ETF) are both Nasdaq-100 funds tracking the NASDAQ-100 Index, from iShares and Invesco respectively. Both are passively managed. Over the past year, XQQU.TO returned 43.63% vs 43.44% for QQQ. Their correlation of 0.90 suggests significant overlap in exposure. XQQU.TO charges 0.39%/yr vs 0.18%/yr for QQQ.

Performance

XQQU.TO vs. QQQ - Performance Comparison

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

Different Trading Currencies

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

Returns By Period

The year-to-date returns for both stocks are quite close, with XQQU.TO having a 22.83% return and QQQ slightly lower at 22.67%.

XQQU.TO

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

QQQ

• 1D: 0.00%
• 1M: 12.65%
• YTD: 22.67%
• 6M: 19.03%
• 1Y: 43.44%
• 3Y*: 30.21%
• 5Y*: 21.31%
• 10Y*: 22.80%

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

XQQU.TO vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
XQQU.TO iShares NASDAQ 100 Index ETF	22.83%	15.17%	36.07%	6.90%
QQQ Invesco QQQ ETF	22.84%	15.23%	36.37%	7.40%

Correlation

The correlation between XQQU.TO and QQQ is 0.92, 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	0.92
Correlation (All Time) Calculated using the full available price history since Sep 14, 2023	0.90

The correlation between XQQU.TO and QQQ has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.

Return for Risk

XQQU.TO vs. QQQ — 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: 76
XQQU.TO Sharpe Ratio Rank: 84
XQQU.TO Sortino Ratio Rank: 80
XQQU.TO Omega Ratio Rank: 80
XQQU.TO Calmar Ratio Rank: 71
XQQU.TO Martin Ratio Rank: 63

QQQ

QQQ Risk / Return Rank: 73
QQQ Sharpe Ratio Rank: 79
QQQ Sortino Ratio Rank: 75
QQQ Omega Ratio Rank: 74
QQQ Calmar Ratio Rank: 69
QQQ Martin Ratio Rank: 71

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. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares NASDAQ 100 Index ETF (XQQU.TO) and Invesco QQQ ETF (QQQ). 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.TO	QQQ	Difference
Sharpe ratio Return per unit of total volatility	2.81	2.80	+0.02
Sortino ratio Return per unit of downside risk	3.67	3.63	+0.04
Omega ratio Gain probability vs. loss probability	1.49	1.50	-0.01
Calmar ratio Return relative to maximum drawdown	3.61	3.55	+0.05
Martin ratio Return relative to average drawdown	11.54	11.34	+0.20
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. QQQ - Sharpe Ratio Comparison

The current XQQU.TO Sharpe Ratio is 2.81, which is comparable to the QQQ Sharpe Ratio of 2.80. The chart below compares the historical Sharpe Ratios of XQQU.TO and QQQ, 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

	XQQU.TO	QQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.81	2.80	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.03	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.10	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.61	1.19	+0.42

Drawdowns

XQQU.TO vs. QQQ - Drawdown Comparison

The maximum XQQU.TO drawdown since its inception was -22.68%, smaller than the maximum QQQ drawdown of -31.80%. Use the drawdown chart below to compare losses from any high point for XQQU.TO and QQQ.

Drawdown Indicators

	XQQU.TO	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-22.68%	-31.80%	+9.12%
Max Drawdown (1Y) Largest decline over 1 year	-12.16%	-12.29%	+0.13%
Max Drawdown (3Y) Largest decline over 3 years	—	-22.58%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-31.80%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-31.80%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.37%	-4.73%	+1.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.79%	3.84%	-0.05%

Volatility

XQQU.TO vs. QQQ - Volatility Comparison

iShares NASDAQ 100 Index ETF (XQQU.TO) and Invesco QQQ ETF (QQQ) have volatilities of 4.36% and 4.35%, 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.

Volatility by Period

	XQQU.TO	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.36%	4.35%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	11.78%	11.80%	-0.02%
Volatility (1Y) Calculated over the trailing 1-year period	15.61%	15.62%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.77%	20.72%	-0.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.77%	20.82%	-1.05%

XQQU.TO vs. QQQ - Expense Ratio Comparison

XQQU.TO has a 0.39% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

XQQU.TO vs. QQQ - Dividend Comparison

XQQU.TO's dividend yield for the trailing twelve months is around 0.21%, less than QQQ's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQ Invesco QQQ ETF	0.38%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%
XQQU.TO iShares NASDAQ 100 Index ETF	0.21%	0.26%	0.20%	0.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XQQU.TO and QQQ in my portfolio?

With a correlation of 0.92, XQQU.TO and QQQ 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.

Which ETF is better, XQQU.TO or QQQ?

On fees, QQQ is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XQQU.TO or QQQ?

QQQ is cheaper with a 0.18% expense ratio, compared with 0.39% for XQQU.TO.

What is the main difference between XQQU.TO and QQQ?

Both ETFs track NASDAQ-100 Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.39% for XQQU.TO and 0.18% for QQQ.