ZLD.TO vs. ZQQ.TO
ZLD.TO (BMO Low Volatility International Equity Hedged to CAD ETF) and ZQQ.TO (BMO NASDAQ 100 Equity (CAD Hedged)) are both exchange-traded funds - ZLD.TO is a Foreign Large Cap Equities fund managed by BMO, while ZQQ.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 10 years, ZLD.TO returned 6.30%/yr vs 19.81%/yr for ZQQ.TO. At a 0.41 correlation, their price movements are largely independent. ZLD.TO charges 0.40%/yr vs 0.39%/yr for ZQQ.TO.
Performance
ZLD.TO vs. ZQQ.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZLD.TO achieves a 2.40% return, which is significantly lower than ZQQ.TO's 18.49% return. Over the past 10 years, ZLD.TO has underperformed ZQQ.TO with an annualized return of 6.30%, while ZQQ.TO has yielded a comparatively higher 19.81% annualized return.
ZLD.TO
- 1D
- -0.20%
- 1M
- 1.10%
- YTD
- 2.40%
- 6M
- 2.20%
- 1Y
- 2.90%
- 3Y*
- 8.86%
- 5Y*
- 6.03%
- 10Y*
- 6.30%
ZQQ.TO
- 1D
- 1.60%
- 1M
- -0.35%
- YTD
- 18.49%
- 6M
- 17.55%
- 1Y
- 26.82%
- 3Y*
- 22.92%
- 5Y*
- 13.78%
- 10Y*
- 19.81%
ZLD.TO vs. ZQQ.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZLD.TO BMO Low Volatility International Equity Hedged to CAD ETF | 2.40% | 9.63% | 11.11% | 11.37% | -6.68% | 12.56% | -5.85% | 17.60% | 0.60% | 12.86% |
ZQQ.TO BMO NASDAQ 100 Equity (CAD Hedged) | 18.49% | 14.59% | 24.00% | 52.52% | -33.75% | 26.68% | 45.33% | 37.08% | -2.29% | 31.51% |
Correlation
The correlation between ZLD.TO and ZQQ.TO is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2016 | 0.41 |
The correlation between ZLD.TO and ZQQ.TO shifts across timeframes, from 0.24 (1 year) to 0.41 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ZLD.TO vs. ZQQ.TO — Risk / Return Rank
ZLD.TO
ZQQ.TO
ZLD.TO vs. ZQQ.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Low Volatility International Equity Hedged to CAD ETF (ZLD.TO) and BMO NASDAQ 100 Equity (CAD Hedged) (ZQQ.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.
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.
| ZLD.TO | ZQQ.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.12 | ||
| Sortino ratioReturn per unit of downside risk | -1.45 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.27 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.41 | 1.72 | -1.31 |
| Martin ratioReturn relative to average drawdown | 0.89 | 5.44 | -4.56 |
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Drawdowns
ZLD.TO vs. ZQQ.TO - Drawdown Comparison
The maximum ZLD.TO drawdown since its inception was -28.97%, smaller than the maximum ZQQ.TO drawdown of -36.39%. Use the drawdown chart below to compare losses from any high point for ZLD.TO and ZQQ.TO.
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Drawdown Indicators
| ZLD.TO | ZQQ.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.97% | -36.39% | +7.42% |
Max Drawdown (1Y)Largest decline over 1 year | -7.09% | -15.65% | +8.56% |
Max Drawdown (3Y)Largest decline over 3 years | -7.47% | -22.79% | +15.32% |
Max Drawdown (5Y)Largest decline over 5 years | -15.02% | -36.39% | +21.37% |
Max Drawdown (10Y)Largest decline over 10 years | -28.97% | -36.39% | +7.42% |
Current DrawdownCurrent decline from peak | -4.89% | -1.39% | -3.50% |
Average DrawdownAverage peak-to-trough decline | -3.69% | -5.46% | +1.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.27% | 4.94% | -1.67% |
Volatility
ZLD.TO vs. ZQQ.TO - Volatility Comparison
The current volatility for BMO Low Volatility International Equity Hedged to CAD ETF (ZLD.TO) is 1.67%, while BMO NASDAQ 100 Equity (CAD Hedged) (ZQQ.TO) has a volatility of 9.57%. This indicates that ZLD.TO experiences smaller price fluctuations and is considered to be less risky than ZQQ.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZLD.TO | ZQQ.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.67% | 9.57% | -7.90% |
Volatility (6M)Calculated over the trailing 6-month period | 6.28% | 14.82% | -8.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.33% | 18.32% | -9.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.98% | 22.94% | -12.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.85% | 22.54% | -9.69% |
ZLD.TO vs. ZQQ.TO - Expense Ratio Comparison
ZLD.TO has a 0.40% expense ratio, which is higher than ZQQ.TO's 0.39% expense ratio.
Dividends
ZLD.TO vs. ZQQ.TO - Dividend Comparison
ZLD.TO's dividend yield for the trailing twelve months is around 2.26%, more than ZQQ.TO's 0.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ZLD.TO BMO Low Volatility International Equity Hedged to CAD ETF | 2.26% | 2.29% | 2.45% | 2.66% | 2.62% | 2.31% | 2.62% | 2.17% | 2.36% | 2.23% | 1.96% | 0.00% |
ZQQ.TO BMO NASDAQ 100 Equity (CAD Hedged) | 0.22% | 0.27% | 0.37% | 0.32% | 0.45% | 0.14% | 0.41% | 0.51% | 0.64% | 0.57% | 1.60% | 0.81% |
Frequently Asked Questions
ZLD.TO and ZQQ.TO have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZQQ.TO is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZQQ.TO is cheaper with a 0.39% expense ratio, compared with 0.40% for ZLD.TO.
ZLD.TO is categorized as Foreign Large Cap Equities, while ZQQ.TO is Nasdaq-100. Their fees differ too: 0.40% for ZLD.TO and 0.39% for ZQQ.TO.
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