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

ZQQ.TO vs. XQQU.TO

Last updated Jun 4, 2026

ZQQ.TO (BMO NASDAQ 100 Equity (CAD Hedged)) 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, ZQQ.TO returned 38.53% vs 43.63% for XQQU.TO. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 0.39% expense ratio.

Performance

ZQQ.TO vs. XQQU.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 iShares NASDAQ 100 Index ETF (XQQU.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, ZQQ.TO achieves a 19.82% return, which is significantly lower than XQQU.TO's 22.83% 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%

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)

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

2026 (YTD)202520242023
ZQQ.TO
BMO NASDAQ 100 Equity (CAD Hedged)		19.82%18.38%24.00%9.18%
XQQU.TO
iShares NASDAQ 100 Index ETF		22.83%15.17%36.07%6.90%

Correlation

The correlation between ZQQ.TO and XQQU.TO is 0.92, 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

0.92

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

0.88

The correlation between ZQQ.TO and XQQU.TO has been stable across timeframes, ranging from 0.88 to 0.92 - 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)

iShares NASDAQ 100 Index 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. TEC.TOZQQ.TO vs. ZSP.TO
Often compared with XQQU.TO:
XQQU.TO vs. XQQ.TOXQQU.TO vs. ZNQ.TOXQQU.TO vs. QQC.TOXQQU.TO vs. VFV.TOXQQU.TO vs. QQU.TOXQQU.TO vs. TEC.TOXQQU.TO vs. XEQT.TO

Return for Risk

ZQQ.TO vs. XQQU.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: 6767
Overall Rank
ZQQ.TO Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
ZQQ.TO Sortino Ratio Rank: 6969
Sortino Ratio Rank
ZQQ.TO Omega Ratio Rank: 6969
Omega Ratio Rank
ZQQ.TO Calmar Ratio Rank: 6060
Calmar Ratio Rank
ZQQ.TO Martin Ratio Rank: 6161
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.

ZQQ.TO vs. XQQU.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 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.

ZQQ.TOXQQU.TODifference
Sharpe ratioReturn per unit of total volatility
2.46
2.81

-0.35

Sortino ratioReturn per unit of downside risk
3.25
3.67

-0.42

Omega ratioGain probability vs. loss probability

1.43

1.49

-0.06

Calmar ratioReturn relative to maximum drawdown

3.01

3.61

-0.60

Martin ratioReturn relative to average drawdown

11.25

11.54

-0.29

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. XQQU.TO - Sharpe Ratio Comparison

The current ZQQ.TO Sharpe Ratio is 2.46, which is comparable to the XQQU.TO Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of ZQQ.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.

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Sharpe Ratios by Period

ZQQ.TOXQQU.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.46

2.81

-0.35

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

1.61

-0.70

Drawdowns

ZQQ.TO vs. XQQU.TO - Drawdown Comparison

The maximum ZQQ.TO drawdown since its inception was -36.39%, 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 ZQQ.TO and XQQU.TO.

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Drawdown Indicators

ZQQ.TOXQQU.TODifference

Max Drawdown

Largest peak-to-trough decline

-36.39%

-22.68%

-13.71%

Max Drawdown (1Y)

Largest decline over 1 year

-12.86%

-12.16%

-0.70%

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%

0.00%

-0.28%

Average Drawdown

Average peak-to-trough decline

-5.37%

-3.37%

-2.00%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.43%

3.79%

-0.36%

Volatility

ZQQ.TO vs. XQQU.TO - Volatility Comparison

BMO NASDAQ 100 Equity (CAD Hedged) (ZQQ.TO) and iShares NASDAQ 100 Index ETF (XQQU.TO) have volatilities of 4.54% 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.

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Volatility by Period

ZQQ.TOXQQU.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.54%

4.36%

+0.18%

Volatility (6M)

Calculated over the trailing 6-month period

12.02%

11.78%

+0.24%

Volatility (1Y)

Calculated over the trailing 1-year period

15.73%

15.61%

+0.12%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.57%

19.77%

+2.80%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.41%

19.77%

+2.64%

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

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

Dividends

ZQQ.TO vs. XQQU.TO - Dividend Comparison

ZQQ.TO's dividend yield for the trailing twelve months is around 0.22%, more than XQQU.TO's 0.21% yield.

PositionTTM20252024202320222021202020192018201720162015
XQQU.TO
iShares NASDAQ 100 Index ETF		0.21%0.26%0.20%0.10%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

With a correlation of 0.92, ZQQ.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.

ZQQ.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 ZQQ.TO and XQQU.TO

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