XUS.TO vs. QQCL.TO

Last updated Jun 4, 2026

XUS.TO (iShares Core S&P 500 Index ETF) and QQCL.TO (Global X Enhanced NASDAQ-100 Covered Call ETF) are both exchange-traded funds - XUS.TO is a S&P 500 fund tracking the S&P 500 Index, while QQCL.TO is a Nasdaq-100 fund actively managed by Global X. XUS.TO is passively managed, while QQCL.TO is actively managed. Over the past year, XUS.TO returned 29.30% vs 43.99% for QQCL.TO. Their correlation of 0.88 suggests significant overlap in exposure. XUS.TO charges 0.09%/yr vs 0.85%/yr for QQCL.TO.

Performance

XUS.TO vs. QQCL.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Core S&P 500 Index ETF (XUS.TO) and Global X Enhanced NASDAQ-100 Covered Call ETF (QQCL.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XUS.TO achieves a 12.21% return, which is significantly lower than QQCL.TO's 20.85% return.

XUS.TO

• 1D: -0.31%
• 1M: 7.22%
• YTD: 12.21%
• 6M: 10.39%
• 1Y: 29.30%
• 3Y*: 23.52%
• 5Y*: 16.78%
• 10Y*: 15.98%

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)

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

	2026 (YTD)	2025	2024	2023
XUS.TO iShares Core S&P 500 Index ETF	12.21%	12.19%	35.16%	6.59%
QQCL.TO Global X Enhanced NASDAQ-100 Covered Call ETF	20.85%	13.10%	41.38%	5.48%

Correlation

The correlation between XUS.TO and QQCL.TO is 0.90, 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	0.90
Correlation (All Time) Calculated using the full available price history since Oct 12, 2023	0.88

The correlation between XUS.TO and QQCL.TO has been stable across timeframes, ranging from 0.88 to 0.90 - a consistent structural relationship.

XUS.TO vs. QQCL.TO - Sectors Allocation Comparison

Sectors	XUS.TO	QQCL.TO
Technology	36.2%	50.0%
Financial Services	11.9%	0.2%
Communication Services	10.9%	16.4%
Consumer Cyclical	10.1%	12.5%
Healthcare	8.4%	5.3%
Industrials	8.1%	3.4%
Consumer Defensive	4.9%	8.6%
Energy	3.5%	0.6%
Utilities	2.3%	1.6%
Real Estate	1.9%	0.1%
Basic Materials	1.8%	1.3%

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XUS.TO

XUS.TO Risk / Return Rank: 73
XUS.TO Sharpe Ratio Rank: 77
XUS.TO Sortino Ratio Rank: 75
XUS.TO Omega Ratio Rank: 77
XUS.TO Calmar Ratio Rank: 67
XUS.TO Martin Ratio Rank: 68

QQCL.TO

QQCL.TO Risk / Return Rank: 81
QQCL.TO Sharpe Ratio Rank: 84
QQCL.TO Sortino Ratio Rank: 80
QQCL.TO Omega Ratio Rank: 82
QQCL.TO Calmar Ratio Rank: 79
QQCL.TO Martin Ratio Rank: 78

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.

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

This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P 500 Index ETF (XUS.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.

	XUS.TO	QQCL.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.55	2.81	-0.26
Sortino ratio: Return per unit of downside risk	3.47	3.65	-0.17
Omega ratio: Gain probability vs. loss probability	1.47	1.51	-0.04
Calmar ratio: Return relative to maximum drawdown	3.41	4.14	-0.73
Martin ratio: Return relative to average drawdown	12.94	15.49	-2.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current XUS.TO Sharpe Ratio is 2.55, which is comparable to the QQCL.TO Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of XUS.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.

Sharpe Ratios by Period

	XUS.TO	QQCL.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.55	2.81	-0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.13	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.98	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.08	1.52	-0.44

Drawdowns

XUS.TO vs. QQCL.TO - Drawdown Comparison

The maximum XUS.TO drawdown since its inception was -27.23%, which is greater than QQCL.TO's maximum drawdown of -25.63%. Use the drawdown chart below to compare losses from any high point for XUS.TO and QQCL.TO.

Drawdown Indicators

	XUS.TO	QQCL.TO	Difference
Max Drawdown Largest peak-to-trough decline	-27.23%	-25.63%	-1.60%
Max Drawdown (1Y) Largest decline over 1 year	-8.63%	-10.68%	+2.05%
Max Drawdown (3Y) Largest decline over 3 years	-18.96%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.85%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-27.23%	—	—
Current Drawdown Current decline from peak	-0.31%	0.00%	-0.31%
Average Drawdown Average peak-to-trough decline	-3.46%	-3.32%	-0.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.27%	2.85%	-0.58%

Volatility

XUS.TO vs. QQCL.TO - Volatility Comparison

The current volatility for iShares Core S&P 500 Index ETF (XUS.TO) is 3.19%, while Global X Enhanced NASDAQ-100 Covered Call ETF (QQCL.TO) has a volatility of 4.30%. This indicates that XUS.TO experiences smaller price fluctuations and is considered to be less risky than QQCL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XUS.TO	QQCL.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.19%	4.30%	-1.11%
Volatility (6M) Calculated over the trailing 6-month period	8.66%	12.58%	-3.92%
Volatility (1Y) Calculated over the trailing 1-year period	11.58%	15.74%	-4.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.92%	20.38%	-5.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.48%	20.38%	-3.90%

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

XUS.TO has a 0.09% expense ratio, which is lower than QQCL.TO's 0.85% expense ratio.

Dividends

XUS.TO vs. QQCL.TO - Dividend Comparison

XUS.TO's dividend yield for the trailing twelve months is around 1.12%, less than QQCL.TO's 13.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQCL.TO Global X Enhanced NASDAQ-100 Covered Call ETF	13.15%	14.54%	11.87%	3.68%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XUS.TO iShares Core S&P 500 Index ETF	1.12%	1.26%	1.03%	1.22%	1.38%	0.99%	1.35%	2.02%	1.77%	1.48%	1.66%	1.70%

Frequently Asked Questions

Can I hold both XUS.TO and QQCL.TO in my portfolio?

With a correlation of 0.90, XUS.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.

Which ETF is better, XUS.TO or QQCL.TO?

On fees, XUS.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XUS.TO or QQCL.TO?

XUS.TO is cheaper with a 0.09% expense ratio, compared with 0.85% for QQCL.TO.

What is the main difference between XUS.TO and QQCL.TO?

XUS.TO is categorized as S&P 500, while QQCL.TO is Nasdaq-100. They also come from different issuers: iShares and Global X. Their fees differ too: 0.09% for XUS.TO and 0.85% for QQCL.TO.