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

ZGLD.TO vs. QQQ

Last updated Apr 1, 2026

Compare and contrast key facts about BMO Gold Bullion ETF (CAD Units) (ZGLD.TO) and Invesco QQQ ETF (QQQ).

ZGLD.TO and QQQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZGLD.TO is a passively managed fund by BMO that tracks the performance of the Gold Bullion. It was launched on Mar 8, 2024. QQQ is a passively managed fund by Invesco that tracks the performance of the NASDAQ-100 Index. It was launched on Mar 10, 1999. Both ZGLD.TO and QQQ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

ZGLD.TO vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Gold Bullion ETF (CAD Units) (ZGLD.TO) and Invesco QQQ ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

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ZGLD.TO vs. QQQ - Yearly Performance Comparison

2026 (YTD)20252024
ZGLD.TO
BMO Gold Bullion ETF (CAD Units)		10.24%55.82%28.23%
QQQ
Invesco QQQ ETF		-4.65%15.23%25.41%
Different Trading Currencies

ZGLD.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, ZGLD.TO achieves a 10.24% return, which is significantly higher than QQQ's -7.69% return.

ZGLD.TO

1D
3.69%
1M
-9.21%
YTD
10.24%
6M
21.20%
1Y
44.65%
3Y*
—
5Y*
—
10Y*
—

QQQ

1D
0.00%
1M
-6.05%
YTD
-7.69%
6M
-6.77%
1Y
15.75%
3Y*
22.17%
5Y*
14.48%
10Y*
19.25%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

BMO Gold Bullion ETF (CAD Units)

Invesco QQQ ETF

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Often compared with QQQ:
QQQ vs. SPYQQQ vs. VOOQQQ vs. VGTQQQ vs. TQQQQQQ vs. QQQMQQQ vs. SMHQQQ vs. VUG

ZGLD.TO vs. QQQ - Expense Ratio Comparison

ZGLD.TO has a 0.23% expense ratio, which is higher than QQQ's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

ZGLD.TO
BMO Gold Bullion ETF (CAD Units)
QQQ
Invesco QQQ ETF

Return for Risk

ZGLD.TO vs. QQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZGLD.TO
ZGLD.TO Risk / Return Rank: 8686
Overall Rank
ZGLD.TO Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
ZGLD.TO Sortino Ratio Rank: 8585
Sortino Ratio Rank
ZGLD.TO Omega Ratio Rank: 8585
Omega Ratio Rank
ZGLD.TO Calmar Ratio Rank: 8989
Calmar Ratio Rank
ZGLD.TO Martin Ratio Rank: 8686
Martin Ratio Rank
QQQ
QQQ Risk / Return Rank: 6969
Overall Rank
QQQ Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 6868
Sortino Ratio Rank
QQQ Omega Ratio Rank: 6767
Omega Ratio Rank
QQQ Calmar Ratio Rank: 7676
Calmar Ratio Rank
QQQ Martin Ratio Rank: 7373
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.

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

This table presents a comparison of risk-adjusted performance metrics for BMO Gold Bullion ETF (CAD Units) (ZGLD.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.

ZGLD.TOQQQDifference

Sharpe ratio

Return per unit of total volatility

1.73

0.72

+1.01

Sortino ratio

Return per unit of downside risk

2.20

1.13

+1.06

Omega ratio

Gain probability vs. loss probability

1.33

1.17

+0.16

Calmar ratio

Return relative to maximum drawdown

2.75

1.32

+1.44

Martin ratio

Return relative to average drawdown

9.61

3.82

+5.79

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

ZGLD.TO vs. QQQ - Sharpe Ratio Comparison

The current ZGLD.TO Sharpe Ratio is 1.73, which is higher than the QQQ Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of ZGLD.TO and QQQ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

ZGLD.TOQQQDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.73

0.72

+1.01

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.70

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.93

—

Sharpe Ratio (All Time)

Calculated using the full available price history

2.28

1.08

+1.20

Correlation

The correlation between ZGLD.TO and QQQ is -0.01. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

ZGLD.TO vs. QQQ - Dividend Comparison

ZGLD.TO has not paid dividends to shareholders, while QQQ's dividend yield for the trailing twelve months is around 0.49%.

TTM20252024202320222021202020192018201720162015
ZGLD.TO
BMO Gold Bullion ETF (CAD Units)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
QQQ
Invesco QQQ ETF		0.49%0.45%0.56%0.62%0.80%0.43%0.55%0.74%0.91%0.84%1.06%0.99%

Drawdowns

ZGLD.TO vs. QQQ - Drawdown Comparison

The maximum ZGLD.TO drawdown since its inception was -17.23%, smaller than the maximum QQQ drawdown of -31.80%. Use the drawdown chart below to compare losses from any high point for ZGLD.TO and QQQ.

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Drawdown Indicators

ZGLD.TOQQQDifference

Max Drawdown

Largest peak-to-trough decline

-17.23%

-82.97%

+65.74%

Max Drawdown (1Y)

Largest decline over 1 year

-17.23%

-12.62%

-4.61%

Max Drawdown (5Y)

Largest decline over 5 years

—

-35.12%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-35.12%

—

Current Drawdown

Current decline from peak

-10.60%

-8.98%

-1.62%

Average Drawdown

Average peak-to-trough decline

-2.59%

-32.99%

+30.40%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.94%

3.41%

+1.53%

Volatility

ZGLD.TO vs. QQQ - Volatility Comparison

BMO Gold Bullion ETF (CAD Units) (ZGLD.TO) has a higher volatility of 10.81% compared to Invesco QQQ ETF (QQQ) at 5.32%. This indicates that ZGLD.TO's price experiences larger fluctuations and is considered to be riskier 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

ZGLD.TOQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

10.81%

5.32%

+5.49%

Volatility (6M)

Calculated over the trailing 6-month period

22.99%

12.24%

+10.75%

Volatility (1Y)

Calculated over the trailing 1-year period

26.02%

22.12%

+3.90%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.69%

20.67%

+0.02%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.69%

20.79%

-0.10%