ZQQ.TO vs. TQQQ.TO

Last updated Jun 4, 2026

ZQQ.TO (BMO NASDAQ 100 Equity (CAD Hedged)) and TQQQ.TO (BetaPro 3x Nasdaq-100 Daily Leveraged Bull Alternative ETF) are both Nasdaq-100 funds - ZQQ.TO tracks the NASDAQ-100 Index while TQQQ.TO tracks the Nasdaq-100 Index. Both are passively managed. With a 0.99 correlation, they move nearly in lockstep.

Performance

ZQQ.TO vs. TQQQ.TO - 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 BetaPro 3x Nasdaq-100 Daily Leveraged Bull Alternative ETF (TQQQ.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ZQQ.TO achieves a 19.82% return, which is significantly lower than TQQQ.TO's 61.21% return.

ZQQ.TO

• 1D: -0.28%
• 1M: 10.63%
• YTD: 19.82%
• 6M: 18.08%
• 1Y: 38.53%
• 3Y*: 26.42%
• 5Y*: 16.12%
• 10Y*: 20.08%

TQQQ.TO

• 1D: -0.92%
• 1M: 32.95%
• YTD: 61.21%
• 6M: 52.36%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ZQQ.TO vs. TQQQ.TO - Yearly Performance Comparison

	2026 (YTD)	2025
ZQQ.TO BMO NASDAQ 100 Equity (CAD Hedged)	19.82%	15.41%
TQQQ.TO BetaPro 3x Nasdaq-100 Daily Leveraged Bull Alternative ETF	61.21%	41.06%

Correlation

The correlation between ZQQ.TO and TQQQ.TO is 0.99 - 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 (All Time) Calculated using the full available price history since Jun 18, 2025	0.99

Return for Risk

ZQQ.TO vs. TQQQ.TO — 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: 67
ZQQ.TO Sharpe Ratio Rank: 74
ZQQ.TO Sortino Ratio Rank: 69
ZQQ.TO Omega Ratio Rank: 69
ZQQ.TO Calmar Ratio Rank: 60
ZQQ.TO Martin Ratio Rank: 61

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. TQQQ.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO NASDAQ 100 Equity (CAD Hedged) (ZQQ.TO) and BetaPro 3x Nasdaq-100 Daily Leveraged Bull Alternative ETF (TQQQ.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.

	ZQQ.TO	TQQQ.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.46	—	—
Sortino ratio: Return per unit of downside risk	3.25	—	—
Omega ratio: Gain probability vs. loss probability	1.43	—	—
Calmar ratio: Return relative to maximum drawdown	3.01	—	—
Martin ratio: Return relative to average drawdown	11.25	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	ZQQ.TO	TQQQ.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.46	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.90	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.91	2.86	-1.95

Drawdowns

ZQQ.TO vs. TQQQ.TO - Drawdown Comparison

The maximum ZQQ.TO drawdown since its inception was -36.39%, roughly equal to the maximum TQQQ.TO drawdown of -38.15%. Use the drawdown chart below to compare losses from any high point for ZQQ.TO and TQQQ.TO.

Drawdown Indicators

	ZQQ.TO	TQQQ.TO	Difference
Max Drawdown Largest peak-to-trough decline	-36.39%	-38.15%	+1.76%
Max Drawdown (1Y) Largest decline over 1 year	-12.86%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-22.79%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-36.39%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-36.39%	—	—
Current Drawdown Current decline from peak	-0.28%	-0.92%	+0.64%
Average Drawdown Average peak-to-trough decline	-5.37%	-8.46%	+3.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.43%	—	—

Volatility

Volatility by Period

	ZQQ.TO	TQQQ.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.54%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.02%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.73%	47.75%	-32.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.57%	47.75%	-25.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.41%	47.75%	-25.34%

Dividends

ZQQ.TO vs. TQQQ.TO - Dividend Comparison

ZQQ.TO's dividend yield for the trailing twelve months is around 0.22%, while TQQQ.TO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TQQQ.TO BetaPro 3x Nasdaq-100 Daily Leveraged Bull Alternative ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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

Can I hold both ZQQ.TO and TQQQ.TO in my portfolio?

With a correlation of 0.99, ZQQ.TO and TQQQ.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.

What is the main difference between ZQQ.TO and TQQQ.TO?

ZQQ.TO tracks NASDAQ-100 Index, while TQQQ.TO tracks Nasdaq-100 Index. They also come from different issuers: BMO and Global X.