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XRE.TO vs. QQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XRE.TO vs. QQQ

Last updated Jun 13, 2026

XRE.TO (iShares S&P/TSX Capped REIT Index ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - XRE.TO is a REIT fund tracking the Morningstar DM REIT NR CAD, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, XRE.TO returned 5.10%/yr vs 22.84%/yr for QQQ. At a 0.30 correlation, their price movements are largely independent. XRE.TO charges 0.61%/yr vs 0.18%/yr for QQQ.

Performance

XRE.TO vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P/TSX Capped REIT Index ETF (XRE.TO) and Invesco QQQ ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

XRE.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

In the year-to-date period, XRE.TO achieves a 13.45% return, which is significantly lower than QQQ's 20.01% return. Over the past 10 years, XRE.TO has underperformed QQQ with an annualized return of 5.10%, while QQQ has yielded a comparatively higher 22.84% annualized return.

XRE.TO

1D
1.00%
1M
6.08%
YTD
13.45%
6M
16.21%
1Y
13.57%
3Y*
6.64%
5Y*
2.18%
10Y*
5.10%

QQQ

1D
0.82%
1M
3.00%
YTD
20.01%
6M
19.59%
1Y
38.93%
3Y*
28.34%
5Y*
20.28%
10Y*
22.84%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XRE.TO vs. QQQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XRE.TO
iShares S&P/TSX Capped REIT Index ETF		13.45%8.89%-2.52%1.88%-17.34%32.54%-13.58%21.98%5.72%9.33%
QQQ
Invesco QQQ ETF		20.08%15.26%36.21%51.17%-28.30%27.36%45.10%33.23%8.27%23.68%

Correlation

The correlation between XRE.TO and QQQ is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.20

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

0.27

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

0.34

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

0.30

Correlation (All Time)
Calculated using the full available price history since Jul 12, 2006

0.30

The correlation between XRE.TO and QQQ shifts across timeframes, from 0.20 (1 year) to 0.34 (5 years), reflecting how their relationship changes across market environments.

XRE.TO vs. QQQ - Sectors Allocation Comparison

Sectors
XRE.TO
QQQ

Real Estate

100.0%
0.1%

Basic Materials

-

1.1%

Communication Services

-

15.8%

Consumer Cyclical

-

12.3%

Consumer Defensive

-

7.7%

Energy

-

0.6%

Financial Services

-

0.2%

Healthcare

-

4.2%

Industrials

-

2.8%

Technology

-

53.8%

Utilities

-

1.4%

Real Estate

XRE.TO
100.0%
QQQ
0.1%

Basic Materials

XRE.TO

-

QQQ
1.1%

Communication Services

XRE.TO

-

QQQ
15.8%

Consumer Cyclical

XRE.TO

-

QQQ
12.3%

Consumer Defensive

XRE.TO

-

QQQ
7.7%

Energy

XRE.TO

-

QQQ
0.6%

Financial Services

XRE.TO

-

QQQ
0.2%

Healthcare

XRE.TO

-

QQQ
4.2%

Industrials

XRE.TO

-

QQQ
2.8%

Technology

XRE.TO

-

QQQ
53.8%

Utilities

XRE.TO

-

QQQ
1.4%

Compare stocks, funds, or ETFs

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iShares S&P/TSX Capped REIT Index ETF

Invesco QQQ ETF

Often compared with XRE.TO:
XRE.TO vs. ZRE.TOXRE.TO vs. VRE.TOXRE.TO vs. CGR.TOXRE.TO vs. XIC.TOXRE.TO vs. XDIV.TOXRE.TO vs. XBB.TOXRE.TO vs. VOO
Often compared with QQQ:
QQQ vs. SPYQQQ vs. VOOQQQ vs. VGTQQQ vs. TQQQQQQ vs. SMHQQQ vs. QQQMQQQ vs. QQQI

Return for Risk

XRE.TO vs. QQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XRE.TO
XRE.TO Risk / Return Rank: 3636
Overall Rank
XRE.TO Sharpe Ratio Rank: 3737
Sharpe Ratio Rank
XRE.TO Sortino Ratio Rank: 3737
Sortino Ratio Rank
XRE.TO Omega Ratio Rank: 3333
Omega Ratio Rank
XRE.TO Calmar Ratio Rank: 4141
Calmar Ratio Rank
XRE.TO Martin Ratio Rank: 3434
Martin Ratio Rank
QQQ
QQQ Risk / Return Rank: 7171
Overall Rank
QQQ Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 7070
Sortino Ratio Rank
QQQ Omega Ratio Rank: 7373
Omega Ratio Rank
QQQ Calmar Ratio Rank: 6969
Calmar Ratio Rank
QQQ Martin Ratio Rank: 7070
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.

XRE.TO vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Capped REIT Index ETF (XRE.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.

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.

XRE.TOQQQDifference
Sharpe ratioReturn per unit of total volatility
1.17
2.25

-1.08

Sortino ratioReturn per unit of downside risk
1.73
2.95

-1.22

Omega ratioGain probability vs. loss probability

1.20

1.39

-0.19

Calmar ratioReturn relative to maximum drawdown

1.82

3.20

-1.39

Martin ratioReturn relative to average drawdown

4.56

10.40

-5.84

XRE.TO vs. QQQ - Sharpe Ratio Comparison

The current XRE.TO Sharpe Ratio is 1.17, which is lower than the QQQ Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of XRE.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.

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Drawdowns

XRE.TO vs. QQQ - Drawdown Comparison

The maximum XRE.TO drawdown since its inception was -57.01%, which is greater than QQQ's maximum drawdown of -37.57%. Use the drawdown chart below to compare losses from any high point for XRE.TO and QQQ.

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Drawdown Indicators

XRE.TOQQQDifference

Max Drawdown

Largest peak-to-trough decline

-57.01%

-37.57%

-19.44%

Max Drawdown (1Y)

Largest decline over 1 year

-7.51%

-12.21%

+4.70%

Max Drawdown (3Y)

Largest decline over 3 years

-20.91%

-22.62%

+1.71%

Max Drawdown (5Y)

Largest decline over 5 years

-30.53%

-32.34%

+1.81%

Max Drawdown (10Y)

Largest decline over 10 years

-46.58%

-32.34%

-14.24%

Current Drawdown

Current decline from peak

-0.55%

-2.35%

+1.80%

Average Drawdown

Average peak-to-trough decline

-10.78%

-6.68%

-4.10%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.00%

3.76%

-0.76%

Volatility

XRE.TO vs. QQQ - Volatility Comparison

The current volatility for iShares S&P/TSX Capped REIT Index ETF (XRE.TO) is 3.08%, while Invesco QQQ ETF (QQQ) has a volatility of 7.64%. This indicates that XRE.TO experiences smaller price fluctuations and is considered to be less risky than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XRE.TOQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.08%

7.64%

-4.56%

Volatility (6M)

Calculated over the trailing 6-month period

8.74%

14.07%

-5.33%

Volatility (1Y)

Calculated over the trailing 1-year period

11.75%

17.40%

-5.65%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.18%

23.33%

-7.15%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.58%

23.34%

-5.76%

XRE.TO vs. QQQ - Expense Ratio Comparison

XRE.TO has a 0.61% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

XRE.TO vs. QQQ - Dividend Comparison

XRE.TO's dividend yield for the trailing twelve months is around 4.34%, more than QQQ's 0.39% yield.

PositionTTM20252024202320222021202020192018201720162015
QQQ
Invesco QQQ ETF		0.39%0.45%0.56%0.62%0.80%0.43%0.55%0.74%0.91%0.84%1.06%0.99%
XRE.TO
iShares S&P/TSX Capped REIT Index ETF		4.34%5.00%5.55%4.52%4.85%2.62%4.50%4.88%4.86%4.77%5.27%5.66%

Frequently Asked Questions

XRE.TO and QQQ have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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.

QQQ is cheaper with a 0.18% expense ratio, compared with 0.61% for XRE.TO.

XRE.TO is categorized as REIT, while QQQ is Nasdaq-100. XRE.TO tracks Morningstar DM REIT NR CAD, while QQQ tracks NASDAQ-100 Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.61% for XRE.TO and 0.18% for QQQ.

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