ZNQ.TO vs. XIT.TO
ZNQ.TO (BMO NASDAQ 100 Equity Index ETF) and XIT.TO (iShares S&P/TSX Capped Information Technology Index ETF) are both exchange-traded funds - ZNQ.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while XIT.TO is a Technology Equities fund tracking the S&P/TSX Capped Information Technology Index. Both are passively managed. Over the past 5 years, ZNQ.TO returned 16.19%/yr vs 2.87%/yr for XIT.TO. A 0.66 correlation means they provide meaningful diversification when combined. ZNQ.TO charges 0.39%/yr vs 0.60%/yr for XIT.TO.
Performance
ZNQ.TO vs. XIT.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZNQ.TO achieves a 14.59% return, which is significantly higher than XIT.TO's -13.73% return.
ZNQ.TO
- 1D
- -1.01%
- 1M
- -4.55%
- 6M
- 13.21%
- YTD
- 14.59%
- 1Y
- 25.42%
- 3Y*
- 24.86%
- 5Y*
- 16.19%
- 10Y*
- —
- ALL TIME*
- 21.91%
XIT.TO
- 1D
- -0.10%
- 1M
- -5.92%
- 6M
- -5.28%
- YTD
- -13.73%
- 1Y
- -6.86%
- 3Y*
- 12.98%
- 5Y*
- 2.87%
- 10Y*
- 16.43%
- ALL TIME*
- 11.98%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$932.35K | CA$850.30K | CA$1.09M | |
| CA$2.18M | CA$4.88M | CA$3.43M |
ZNQ.TO vs. XIT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ZNQ.TO BMO NASDAQ 100 Equity Index ETF | 14.59% | 14.95% | 35.84% | 51.32% | -28.06% | 26.59% | 44.65% | 22.53% |
XIT.TO iShares S&P/TSX Capped Information Technology Index ETF | -13.73% | 15.48% | 30.02% | 55.56% | -35.85% | 10.74% | 45.91% | 42.48% |
Correlation
The correlation between ZNQ.TO and XIT.TO is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Feb 12, 2019 | 0.66 |
The correlation between ZNQ.TO and XIT.TO shifts across timeframes, from 0.50 (1 year) to 0.67 (5 years), reflecting how their relationship changes across market environments.
ZNQ.TO vs. XIT.TO - Sectors Allocation Comparison
Sectors
ZNQ.TO
XIT.TO
Technology
Communication Services
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Consumer Cyclical
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Consumer Defensive
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Industrials
Healthcare
-
Utilities
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Basic Materials
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Energy
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Financial Services
Real Estate
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Technology
ZNQ.TO
XIT.TO
Communication Services
ZNQ.TO
XIT.TO
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Consumer Cyclical
ZNQ.TO
XIT.TO
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Consumer Defensive
ZNQ.TO
XIT.TO
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Industrials
ZNQ.TO
XIT.TO
Healthcare
ZNQ.TO
XIT.TO
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Utilities
ZNQ.TO
XIT.TO
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Basic Materials
ZNQ.TO
XIT.TO
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Energy
ZNQ.TO
XIT.TO
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Financial Services
ZNQ.TO
XIT.TO
Real Estate
ZNQ.TO
XIT.TO
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Return for Risk
ZNQ.TO vs. XIT.TO — Risk / Return Rank
ZNQ.TO
XIT.TO
ZNQ.TO vs. XIT.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO NASDAQ 100 Equity Index ETF (ZNQ.TO) and iShares S&P/TSX Capped Information Technology Index ETF (XIT.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.
| ZNQ.TO | XIT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.58 | ||
| Sortino ratioReturn per unit of downside risk | +1.97 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 0.99 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 2.09 | -0.22 | +2.30 |
| Martin ratioReturn relative to average drawdown | 6.21 | -0.40 | +6.61 |
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Drawdowns
ZNQ.TO vs. XIT.TO - Drawdown Comparison
The maximum ZNQ.TO drawdown since its inception was -32.09%, smaller than the maximum XIT.TO drawdown of -56.92%. Use the drawdown chart below to compare losses from any high point for ZNQ.TO and XIT.TO.
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Drawdown Indicators
| ZNQ.TO | XIT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.09% | -56.92% | +24.83% |
Max Drawdown (1Y)Largest decline over 1 year | -12.24% | -31.93% | +19.69% |
Max Drawdown (3Y)Largest decline over 3 years | -22.67% | -31.93% | +9.26% |
Max Drawdown (5Y)Largest decline over 5 years | -32.09% | -54.15% | +22.06% |
Max Drawdown (10Y)Largest decline over 10 years | — | -54.15% | — |
Current DrawdownCurrent decline from peak | -7.85% | -22.99% | +15.14% |
Average DrawdownAverage peak-to-trough decline | -6.57% | -17.01% | +10.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.10% | 17.17% | -13.07% |
Volatility
ZNQ.TO vs. XIT.TO - Volatility Comparison
BMO NASDAQ 100 Equity Index ETF (ZNQ.TO) has a higher volatility of 7.21% compared to iShares S&P/TSX Capped Information Technology Index ETF (XIT.TO) at 5.47%. This indicates that ZNQ.TO's price experiences larger fluctuations and is considered to be riskier than XIT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZNQ.TO | XIT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.21% | 5.47% | +1.74% |
Volatility (6M)Calculated over the trailing 6-month period | 15.40% | 24.09% | -8.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.74% | 31.75% | -13.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.29% | 29.47% | -8.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.48% | 28.59% | -6.11% |
ZNQ.TO vs. XIT.TO - Expense Ratio Comparison
ZNQ.TO has a 0.39% expense ratio, which is lower than XIT.TO's 0.60% expense ratio.
Dividends
ZNQ.TO vs. XIT.TO - Dividend Comparison
ZNQ.TO's dividend yield for the trailing twelve months is around 0.22%, while XIT.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XIT.TO iShares S&P/TSX Capped Information Technology Index ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.03% | 0.00% | 0.34% | 0.00% | 0.15% | 0.18% | 0.10% |
ZNQ.TO BMO NASDAQ 100 Equity Index ETF | 0.22% | 0.25% | 0.30% | 0.35% | 0.23% | 0.12% | 0.47% | 0.52% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZNQ.TO and XIT.TO have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZNQ.TO is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZNQ.TO is cheaper with a 0.39% expense ratio, compared with 0.60% for XIT.TO.
ZNQ.TO is categorized as Nasdaq-100, while XIT.TO is Technology Equities. ZNQ.TO tracks NASDAQ-100 Index, while XIT.TO tracks S&P/TSX Capped Information Technology Index. They also come from different issuers: BMO and iShares. Their fees differ too: 0.39% for ZNQ.TO and 0.60% for XIT.TO.
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