PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
ZNQ.TO vs. XQQU.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZNQ.TO vs. XQQU.TO

Last updated Jun 4, 2026

ZNQ.TO (BMO NASDAQ 100 Equity Index ETF) and XQQU.TO (iShares NASDAQ 100 Index ETF) are both Nasdaq-100 funds tracking the NASDAQ-100 Index, from BMO and iShares respectively. Both are passively managed. Over the past year, ZNQ.TO returned 42.93% vs 43.63% for XQQU.TO. Their correlation of 0.94 suggests significant overlap in exposure. Both charge a 0.39% expense ratio.

Performance

ZNQ.TO vs. XQQU.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO NASDAQ 100 Equity Index ETF (ZNQ.TO) and iShares NASDAQ 100 Index ETF (XQQU.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

The year-to-date returns for both investments are quite close, with ZNQ.TO having a 22.76% return and XQQU.TO slightly higher at 22.83%.

ZNQ.TO

1D
0.25%
1M
13.05%
YTD
22.76%
6M
18.72%
1Y
42.93%
3Y*
29.76%
5Y*
20.92%
10Y*
—

XQQU.TO

1D
0.47%
1M
13.16%
YTD
22.83%
6M
19.29%
1Y
43.63%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

ZNQ.TO vs. XQQU.TO - Yearly Performance Comparison

2026 (YTD)202520242023
ZNQ.TO
BMO NASDAQ 100 Equity Index ETF		22.76%14.60%35.84%7.38%
XQQU.TO
iShares NASDAQ 100 Index ETF		22.83%15.17%36.07%6.90%

Correlation

The correlation between ZNQ.TO and XQQU.TO is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

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

0.98

Correlation (All Time)
Calculated using the full available price history since Sep 14, 2023

0.94

The correlation between ZNQ.TO and XQQU.TO has been stable across timeframes, ranging from 0.94 to 0.98 - a consistent structural relationship.

Compare stocks, funds, or ETFs

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

BMO NASDAQ 100 Equity Index ETF

iShares NASDAQ 100 Index ETF

Often compared with ZNQ.TO:
ZNQ.TO vs. ZQQ.TOZNQ.TO vs. QQC.TOZNQ.TO vs. HXQ.TOZNQ.TO vs. TEC.TOZNQ.TO vs. VFV.TOZNQ.TO vs. QQQZNQ.TO vs. ZSP.TO
Often compared with XQQU.TO:
XQQU.TO vs. XQQ.TOXQQU.TO vs. QQC.TOXQQU.TO vs. VFV.TOXQQU.TO vs. QQU.TOXQQU.TO vs. TEC.TOXQQU.TO vs. XEQT.TOXQQU.TO vs. ZQQ.TO

Return for Risk

ZNQ.TO vs. XQQU.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZNQ.TO
ZNQ.TO Risk / Return Rank: 7474
Overall Rank
ZNQ.TO Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
ZNQ.TO Sortino Ratio Rank: 7878
Sortino Ratio Rank
ZNQ.TO Omega Ratio Rank: 7979
Omega Ratio Rank
ZNQ.TO Calmar Ratio Rank: 6868
Calmar Ratio Rank
ZNQ.TO Martin Ratio Rank: 6060
Martin Ratio Rank
XQQU.TO
XQQU.TO Risk / Return Rank: 7676
Overall Rank
XQQU.TO Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
XQQU.TO Sortino Ratio Rank: 8080
Sortino Ratio Rank
XQQU.TO Omega Ratio Rank: 8080
Omega Ratio Rank
XQQU.TO Calmar Ratio Rank: 7171
Calmar Ratio Rank
XQQU.TO Martin Ratio Rank: 6363
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.

ZNQ.TO vs. XQQU.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 NASDAQ 100 Index ETF (XQQU.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.

ZNQ.TOXQQU.TODifference
Sharpe ratioReturn per unit of total volatility
2.75
2.81

-0.06

Sortino ratioReturn per unit of downside risk
3.58
3.67

-0.09

Omega ratioGain probability vs. loss probability

1.48

1.49

0.00

Calmar ratioReturn relative to maximum drawdown

3.45

3.61

-0.16

Martin ratioReturn relative to average drawdown

10.86

11.54

-0.67

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

ZNQ.TO vs. XQQU.TO - Sharpe Ratio Comparison

The current ZNQ.TO Sharpe Ratio is 2.75, which is comparable to the XQQU.TO Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of ZNQ.TO and XQQU.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.

Loading charts...

Sharpe Ratios by Period

ZNQ.TOXQQU.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.75

2.81

-0.06

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.01

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.06

1.61

-0.55

Drawdowns

ZNQ.TO vs. XQQU.TO - Drawdown Comparison

The maximum ZNQ.TO drawdown since its inception was -32.09%, which is greater than XQQU.TO's maximum drawdown of -22.68%. Use the drawdown chart below to compare losses from any high point for ZNQ.TO and XQQU.TO.

Loading charts...

Drawdown Indicators

ZNQ.TOXQQU.TODifference

Max Drawdown

Largest peak-to-trough decline

-32.09%

-22.68%

-9.41%

Max Drawdown (1Y)

Largest decline over 1 year

-12.50%

-12.16%

-0.34%

Max Drawdown (3Y)

Largest decline over 3 years

-22.67%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-32.09%

—

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-6.63%

-3.37%

-3.26%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.96%

3.79%

+0.17%

Volatility

ZNQ.TO vs. XQQU.TO - Volatility Comparison

BMO NASDAQ 100 Equity Index ETF (ZNQ.TO) and iShares NASDAQ 100 Index ETF (XQQU.TO) have volatilities of 4.49% and 4.36%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

ZNQ.TOXQQU.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.49%

4.36%

+0.13%

Volatility (6M)

Calculated over the trailing 6-month period

11.99%

11.78%

+0.21%

Volatility (1Y)

Calculated over the trailing 1-year period

15.69%

15.61%

+0.08%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.81%

19.77%

+1.04%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.34%

19.77%

+2.57%

ZNQ.TO vs. XQQU.TO - Expense Ratio Comparison

Both ZNQ.TO and XQQU.TO have an expense ratio of 0.39%.

Dividends

ZNQ.TO vs. XQQU.TO - Dividend Comparison

ZNQ.TO's dividend yield for the trailing twelve months is around 0.20%, less than XQQU.TO's 0.21% yield.

PositionTTM2025202420232022202120202019
XQQU.TO
iShares NASDAQ 100 Index ETF		0.21%0.26%0.20%0.10%0.00%0.00%0.00%0.00%
ZNQ.TO
BMO NASDAQ 100 Equity Index ETF		0.20%0.25%0.30%0.35%0.23%0.12%0.47%0.52%

Frequently Asked Questions

With a correlation of 0.98, ZNQ.TO and XQQU.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.

Both ETFs have the same 0.39% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

ZNQ.TO and XQQU.TO have the same expense ratio: 0.39% per year.

Both ETFs track NASDAQ-100 Index. They also come from different issuers: BMO and iShares.

Portfolio Optimizer

Find the right allocation for ZNQ.TO and XQQU.TO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer