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ZQQ.TO vs. QQQM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZQQ.TO vs. QQQM

Last updated Apr 15, 2026

ZQQ.TO (BMO NASDAQ 100 Equity (CAD Hedged)) and QQQM (Invesco NASDAQ 100 ETF) are both Nasdaq-100 funds tracking the NASDAQ-100 Index, from BMO and Invesco respectively. Both are passively managed. Over the past 5 years, ZQQ.TO returned 11.91%/yr vs 15.50%/yr for QQQM. Their correlation of 0.91 suggests significant overlap in exposure. ZQQ.TO charges 0.39%/yr vs 0.15%/yr for QQQM.

Performance

ZQQ.TO vs. QQQM - Performance Comparison

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

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Different Trading Currencies

ZQQ.TO is traded in CAD, while QQQM is traded in USD. To make them comparable, the QQQM values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ZQQ.TO achieves a 1.52% return, which is significantly higher than QQQM's 1.11% return.

ZQQ.TO

1D
1.75%
1M
5.60%
YTD
1.52%
6M
4.04%
1Y
34.80%
3Y*
23.96%
5Y*
11.91%
10Y*
18.07%

QQQM

1D
0.00%
1M
4.62%
YTD
1.11%
6M
1.62%
1Y
34.81%
3Y*
26.83%
5Y*
15.50%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

ZQQ.TO vs. QQQM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
ZQQ.TO
BMO NASDAQ 100 Equity (CAD Hedged)		1.52%18.38%24.00%52.52%-33.75%26.68%6.52%
QQQM
Invesco NASDAQ 100 ETF		2.82%15.31%36.48%51.60%-27.71%26.30%3.58%

Correlation

The correlation between ZQQ.TO and QQQM is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification — they tend to fall together during downturns.

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

0.88

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

0.90

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

0.91

Correlation (All Time)
Calculated using the full available price history since Oct 14, 2020

0.91

The correlation between ZQQ.TO and QQQM has been stable across timeframes, ranging from 0.88 to 0.91 — 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 (CAD Hedged)

Invesco NASDAQ 100 ETF

Often compared with ZQQ.TO:
ZQQ.TO vs. ZNQ.TOZQQ.TO vs. XQQ.TOZQQ.TO vs. QQC.TOZQQ.TO vs. QQQZQQ.TO vs. VFV.TOZQQ.TO vs. ZSP.TOZQQ.TO vs. TEC.TO
Often compared with QQQM:
QQQM vs. QQQQQQM vs. SCHGQQQM vs. VOOQQQM vs. VGTQQQM vs. SCHDQQQM vs. JEPQQQQM vs. FTEC

Return for Risk

ZQQ.TO vs. QQQM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZQQ.TO
ZQQ.TO Risk / Return Rank: 5050
Overall Rank
ZQQ.TO Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
ZQQ.TO Sortino Ratio Rank: 4747
Sortino Ratio Rank
ZQQ.TO Omega Ratio Rank: 5050
Omega Ratio Rank
ZQQ.TO Calmar Ratio Rank: 5050
Calmar Ratio Rank
ZQQ.TO Martin Ratio Rank: 5252
Martin Ratio Rank
QQQM
QQQM Risk / Return Rank: 5959
Overall Rank
QQQM Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
QQQM Sortino Ratio Rank: 5454
Sortino Ratio Rank
QQQM Omega Ratio Rank: 5656
Omega Ratio Rank
QQQM Calmar Ratio Rank: 6262
Calmar Ratio Rank
QQQM Martin Ratio Rank: 6464
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.

ZQQ.TO vs. QQQM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO NASDAQ 100 Equity (CAD Hedged) (ZQQ.TO) and Invesco NASDAQ 100 ETF (QQQM). 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.

ZQQ.TOQQQMDifference

Sharpe ratio

Return per unit of total volatility

2.11

2.04

+0.07

Sortino ratio

Return per unit of downside risk

2.85

2.75

+0.10

Omega ratio

Gain probability vs. loss probability

1.38

1.37

0.00

Calmar ratio

Return relative to maximum drawdown

2.95

3.03

-0.08

Martin ratio

Return relative to average drawdown

10.95

9.52

+1.42

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

ZQQ.TO vs. QQQM - Sharpe Ratio Comparison

The current ZQQ.TO Sharpe Ratio is 2.11, which is comparable to the QQQM Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of ZQQ.TO and QQQM, 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

ZQQ.TOQQQMDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.11

2.04

+0.07

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.53

0.76

-0.23

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.81

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.86

0.79

+0.07

Drawdowns

ZQQ.TO vs. QQQM - Drawdown Comparison

The maximum ZQQ.TO drawdown since its inception was -36.39%, which is greater than QQQM's maximum drawdown of -31.71%. Use the drawdown chart below to compare losses from any high point for ZQQ.TO and QQQM.

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Drawdown Indicators

ZQQ.TOQQQMDifference

Max Drawdown

Largest peak-to-trough decline

-36.39%

-35.04%

-1.35%

Max Drawdown (1Y)

Largest decline over 1 year

-12.86%

-11.96%

-0.90%

Max Drawdown (5Y)

Largest decline over 5 years

-36.39%

-35.04%

-1.35%

Max Drawdown (10Y)

Largest decline over 10 years

-36.39%

—

—

Current Drawdown

Current decline from peak

-2.08%

-0.89%

-1.19%

Average Drawdown

Average peak-to-trough decline

-5.41%

-8.45%

+3.04%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.47%

3.15%

+0.32%

Volatility

ZQQ.TO vs. QQQM - Volatility Comparison

BMO NASDAQ 100 Equity (CAD Hedged) (ZQQ.TO) has a higher volatility of 6.89% compared to Invesco NASDAQ 100 ETF (QQQM) at 6.09%. This indicates that ZQQ.TO's price experiences larger fluctuations and is considered to be riskier than QQQM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ZQQ.TOQQQMDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.89%

6.09%

+0.80%

Volatility (6M)

Calculated over the trailing 6-month period

12.56%

12.33%

+0.23%

Volatility (1Y)

Calculated over the trailing 1-year period

16.65%

17.26%

-0.61%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.60%

20.58%

+2.02%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.38%

20.58%

+1.80%

ZQQ.TO vs. QQQM - Expense Ratio Comparison

ZQQ.TO has a 0.39% expense ratio, which is higher than QQQM's 0.15% expense ratio.

Dividends

ZQQ.TO vs. QQQM - Dividend Comparison

ZQQ.TO's dividend yield for the trailing twelve months is around 0.26%, less than QQQM's 0.49% yield.

TTM20252024202320222021202020192018201720162015
ZQQ.TO
BMO NASDAQ 100 Equity (CAD Hedged)		0.26%0.27%0.37%0.32%0.45%0.14%0.41%0.51%0.64%0.57%1.60%0.81%
QQQM
Invesco NASDAQ 100 ETF		0.49%0.50%0.61%0.65%0.83%0.40%0.16%0.00%0.00%0.00%0.00%0.00%