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ZLU.TO vs. QQC-F.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZLU.TO vs. QQC-F.TO

Last updated Jun 5, 2026

ZLU.TO (BMO Low Volatility US Equity ETF (CAD)) and QQC-F.TO (Invesco NASDAQ 100 Index ETF CAD Hedged) are both exchange-traded funds - ZLU.TO is a Large Cap Blend Equities fund actively managed by BMO, while QQC-F.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index. ZLU.TO is actively managed, while QQC-F.TO is passively managed. Over the past 10 years, ZLU.TO returned 9.66%/yr vs 20.19%/yr for QQC-F.TO. At a 0.21 correlation, their price movements are largely independent. ZLU.TO charges 0.33%/yr vs 0.20%/yr for QQC-F.TO.

Performance

ZLU.TO vs. QQC-F.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Low Volatility US Equity ETF (CAD) (ZLU.TO) and Invesco NASDAQ 100 Index ETF CAD Hedged (QQC-F.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ZLU.TO achieves a 10.43% return, which is significantly lower than QQC-F.TO's 19.18% return. Over the past 10 years, ZLU.TO has underperformed QQC-F.TO with an annualized return of 9.66%, while QQC-F.TO has yielded a comparatively higher 20.19% annualized return.

ZLU.TO

1D
0.95%
1M
4.71%
YTD
10.43%
6M
4.45%
1Y
12.11%
3Y*
11.15%
5Y*
10.40%
10Y*
9.66%

QQC-F.TO

1D
-0.50%
1M
8.60%
YTD
19.18%
6M
17.61%
1Y
37.09%
3Y*
26.30%
5Y*
16.21%
10Y*
20.19%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ZLU.TO vs. QQC-F.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ZLU.TO
BMO Low Volatility US Equity ETF (CAD)		10.43%1.95%21.52%-3.36%7.85%20.62%1.98%20.39%8.31%4.98%
QQC-F.TO
Invesco NASDAQ 100 Index ETF CAD Hedged		19.18%18.41%24.19%52.81%-33.42%27.15%45.04%37.63%-2.23%31.94%

Correlation

The correlation between ZLU.TO and QQC-F.TO is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

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

0.06

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

0.05

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

0.15

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

0.22

Correlation (All Time)
Calculated using the full available price history since Apr 9, 2013

0.21

The correlation between ZLU.TO and QQC-F.TO shifts across timeframes, from 0.05 (3 years) to 0.22 (10 years), reflecting how their relationship changes across market environments.

ZLU.TO vs. QQC-F.TO - Sectors Allocation Comparison

Sectors
ZLU.TO
QQC-F.TO

Utilities

20.5%
1.4%

Technology

19.0%
53.8%

Healthcare

17.7%
4.2%

Consumer Defensive

12.5%
7.7%

Financial Services

11.4%
0.2%

Industrials

6.4%
2.8%

Real Estate

3.3%
0.1%

Consumer Cyclical

3.2%
12.3%

Communication Services

2.9%
15.8%

Basic Materials

2.5%
1.1%

Energy

0.6%
0.6%

Utilities

ZLU.TO
20.5%
QQC-F.TO
1.4%

Technology

ZLU.TO
19.0%
QQC-F.TO
53.8%

Healthcare

ZLU.TO
17.7%
QQC-F.TO
4.2%

Consumer Defensive

ZLU.TO
12.5%
QQC-F.TO
7.7%

Financial Services

ZLU.TO
11.4%
QQC-F.TO
0.2%

Industrials

ZLU.TO
6.4%
QQC-F.TO
2.8%

Real Estate

ZLU.TO
3.3%
QQC-F.TO
0.1%

Consumer Cyclical

ZLU.TO
3.2%
QQC-F.TO
12.3%

Communication Services

ZLU.TO
2.9%
QQC-F.TO
15.8%

Basic Materials

ZLU.TO
2.5%
QQC-F.TO
1.1%

Energy

ZLU.TO
0.6%
QQC-F.TO
0.6%

Compare stocks, funds, or ETFs

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BMO Low Volatility US Equity ETF (CAD)

Invesco NASDAQ 100 Index ETF CAD Hedged

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Often compared with QQC-F.TO:
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Return for Risk

ZLU.TO vs. QQC-F.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZLU.TO
ZLU.TO Risk / Return Rank: 3232
Overall Rank
ZLU.TO Sharpe Ratio Rank: 3333
Sharpe Ratio Rank
ZLU.TO Sortino Ratio Rank: 3030
Sortino Ratio Rank
ZLU.TO Omega Ratio Rank: 3232
Omega Ratio Rank
ZLU.TO Calmar Ratio Rank: 3333
Calmar Ratio Rank
ZLU.TO Martin Ratio Rank: 2929
Martin Ratio Rank
QQC-F.TO
QQC-F.TO Risk / Return Rank: 6666
Overall Rank
QQC-F.TO Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
QQC-F.TO Sortino Ratio Rank: 7070
Sortino Ratio Rank
QQC-F.TO Omega Ratio Rank: 6868
Omega Ratio Rank
QQC-F.TO Calmar Ratio Rank: 5858
Calmar Ratio Rank
QQC-F.TO Martin Ratio Rank: 6060
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.

ZLU.TO vs. QQC-F.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Low Volatility US Equity ETF (CAD) (ZLU.TO) and Invesco NASDAQ 100 Index ETF CAD Hedged (QQC-F.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.

ZLU.TOQQC-F.TODifference
Sharpe ratioReturn per unit of total volatility
1.16
2.35

-1.18

Sortino ratioReturn per unit of downside risk
1.58
3.14

-1.56

Omega ratioGain probability vs. loss probability

1.21

1.40

-0.19

Calmar ratioReturn relative to maximum drawdown

1.61

2.83

-1.22

Martin ratioReturn relative to average drawdown

4.10

10.53

-6.43

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

ZLU.TO vs. QQC-F.TO - Sharpe Ratio Comparison

The current ZLU.TO Sharpe Ratio is 1.16, which is lower than the QQC-F.TO Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of ZLU.TO and QQC-F.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.

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Sharpe Ratios by Period

ZLU.TOQQC-F.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.16

2.35

-1.18

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.92

0.73

+0.19

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.70

0.90

-0.20

Sharpe Ratio (All Time)

Calculated using the full available price history

0.98

0.92

+0.06

Drawdowns

ZLU.TO vs. QQC-F.TO - Drawdown Comparison

The maximum ZLU.TO drawdown since its inception was -25.49%, smaller than the maximum QQC-F.TO drawdown of -36.03%. Use the drawdown chart below to compare losses from any high point for ZLU.TO and QQC-F.TO.

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Drawdown Indicators

ZLU.TOQQC-F.TODifference

Max Drawdown

Largest peak-to-trough decline

-25.49%

-36.03%

+10.54%

Max Drawdown (1Y)

Largest decline over 1 year

-7.53%

-13.16%

+5.63%

Max Drawdown (3Y)

Largest decline over 3 years

-9.17%

-22.76%

+13.59%

Max Drawdown (5Y)

Largest decline over 5 years

-10.40%

-36.03%

+25.63%

Max Drawdown (10Y)

Largest decline over 10 years

-25.49%

-36.03%

+10.54%

Current Drawdown

Current decline from peak

-1.11%

-0.73%

-0.38%

Average Drawdown

Average peak-to-trough decline

-3.11%

-5.50%

+2.39%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.96%

3.53%

-0.57%

Volatility

ZLU.TO vs. QQC-F.TO - Volatility Comparison

The current volatility for BMO Low Volatility US Equity ETF (CAD) (ZLU.TO) is 2.94%, while Invesco NASDAQ 100 Index ETF CAD Hedged (QQC-F.TO) has a volatility of 4.48%. This indicates that ZLU.TO experiences smaller price fluctuations and is considered to be less risky than QQC-F.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ZLU.TOQQC-F.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.94%

4.48%

-1.54%

Volatility (6M)

Calculated over the trailing 6-month period

8.51%

12.08%

-3.57%

Volatility (1Y)

Calculated over the trailing 1-year period

10.50%

15.89%

-5.39%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.35%

22.44%

-11.09%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.91%

22.54%

-8.63%

ZLU.TO vs. QQC-F.TO - Expense Ratio Comparison

ZLU.TO has a 0.33% expense ratio, which is higher than QQC-F.TO's 0.20% expense ratio.

Dividends

ZLU.TO vs. QQC-F.TO - Dividend Comparison

ZLU.TO's dividend yield for the trailing twelve months is around 1.72%, while QQC-F.TO has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
QQC-F.TO
Invesco NASDAQ 100 Index ETF CAD Hedged		0.00%0.09%0.50%0.57%0.89%0.66%0.49%0.64%0.77%0.66%0.81%0.76%
ZLU.TO
BMO Low Volatility US Equity ETF (CAD)		1.72%1.89%1.89%2.29%1.87%1.69%1.75%1.51%1.81%1.91%2.26%1.73%

Frequently Asked Questions

ZLU.TO and QQC-F.TO have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, QQC-F.TO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

QQC-F.TO is cheaper with a 0.20% expense ratio, compared with 0.33% for ZLU.TO.

ZLU.TO is categorized as Large Cap Blend Equities, while QQC-F.TO is Nasdaq-100. They also come from different issuers: BMO and Invesco. Their fees differ too: 0.33% for ZLU.TO and 0.20% for QQC-F.TO.

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