PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
ZQQ.TO vs. ZDV.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZQQ.TO vs. ZDV.TO

Last updated Jun 4, 2026

ZQQ.TO (BMO NASDAQ 100 Equity (CAD Hedged)) and ZDV.TO (BMO Canadian Dividend ETF) are both exchange-traded funds - ZQQ.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while ZDV.TO is a Canada Equities fund actively managed by BMO. ZQQ.TO is passively managed, while ZDV.TO is actively managed. Over the past 10 years, ZQQ.TO returned 20.08%/yr vs 10.97%/yr for ZDV.TO. At a 0.49 correlation, their price movements are largely independent. Both charge a 0.39% expense ratio.

Performance

ZQQ.TO vs. ZDV.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 BMO Canadian Dividend ETF (ZDV.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, ZQQ.TO achieves a 19.82% return, which is significantly higher than ZDV.TO's 18.56% return. Over the past 10 years, ZQQ.TO has outperformed ZDV.TO with an annualized return of 20.08%, while ZDV.TO has yielded a comparatively lower 10.97% annualized 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%

ZDV.TO

1D
-0.22%
1M
4.61%
YTD
18.56%
6M
13.14%
1Y
31.08%
3Y*
20.39%
5Y*
13.72%
10Y*
10.97%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
ZQQ.TO
BMO NASDAQ 100 Equity (CAD Hedged)		19.82%18.38%24.00%52.52%-33.75%26.68%45.33%37.08%-2.29%31.51%
ZDV.TO
BMO Canadian Dividend ETF		18.56%20.17%16.52%7.83%-1.93%28.40%-3.84%22.34%-10.95%7.38%

Correlation

The correlation between ZQQ.TO and ZDV.TO is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.30

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

0.37

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

0.45

Correlation (10Y)
Calculated over the trailing 10-year period

0.47

Correlation (All Time)
Calculated using the full available price history since Oct 28, 2011

0.49

The correlation between ZQQ.TO and ZDV.TO shifts across timeframes, from 0.30 (1 year) to 0.49 (all time), reflecting how their relationship changes across market environments.

ZQQ.TO vs. ZDV.TO - Sectors Allocation Comparison

Sectors
ZQQ.TO
ZDV.TO

Technology

54.1%

-

Communication Services

15.5%
5.7%

Consumer Cyclical

12.2%
1.4%

Consumer Defensive

7.6%
2.2%

Healthcare

4.2%
0.9%

Industrials

3.1%
2.7%

Utilities

1.4%
10.1%

Basic Materials

1.2%
10.6%

Energy

0.6%
27.2%

Financial Services

0.2%
35.2%

Real Estate

0.1%
4.1%

Technology

ZQQ.TO
54.1%
ZDV.TO

-

Communication Services

ZQQ.TO
15.5%
ZDV.TO
5.7%

Consumer Cyclical

ZQQ.TO
12.2%
ZDV.TO
1.4%

Consumer Defensive

ZQQ.TO
7.6%
ZDV.TO
2.2%

Healthcare

ZQQ.TO
4.2%
ZDV.TO
0.9%

Industrials

ZQQ.TO
3.1%
ZDV.TO
2.7%

Utilities

ZQQ.TO
1.4%
ZDV.TO
10.1%

Basic Materials

ZQQ.TO
1.2%
ZDV.TO
10.6%

Energy

ZQQ.TO
0.6%
ZDV.TO
27.2%

Financial Services

ZQQ.TO
0.2%
ZDV.TO
35.2%

Real Estate

ZQQ.TO
0.1%
ZDV.TO
4.1%

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)

BMO Canadian Dividend 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 ZDV.TO:
ZDV.TO vs. VDY.TOZDV.TO vs. XEI.TOZDV.TO vs. XDIV.TOZDV.TO vs. ZWC.TOZDV.TO vs. ZCN.TOZDV.TO vs. XDV.TOZDV.TO vs. ZDY.TO

Return for Risk

ZQQ.TO vs. ZDV.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
ZDV.TO
ZDV.TO Risk / Return Rank: 8585
Overall Rank
ZDV.TO Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
ZDV.TO Sortino Ratio Rank: 7474
Sortino Ratio Rank
ZDV.TO Omega Ratio Rank: 9393
Omega Ratio Rank
ZDV.TO Calmar Ratio Rank: 8585
Calmar Ratio Rank
ZDV.TO Martin Ratio Rank: 8585
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. ZDV.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 BMO Canadian Dividend ETF (ZDV.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.TOZDV.TODifference
Sharpe ratioReturn per unit of total volatility
2.46
2.95

-0.49

Sortino ratioReturn per unit of downside risk
3.25
3.40

-0.15

Omega ratioGain probability vs. loss probability

1.43

1.66

-0.23

Calmar ratioReturn relative to maximum drawdown

3.01

4.69

-1.68

Martin ratioReturn relative to average drawdown

11.25

18.24

-7.00

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. ZDV.TO - Sharpe Ratio Comparison

The current ZQQ.TO Sharpe Ratio is 2.46, which is comparable to the ZDV.TO Sharpe Ratio of 2.95. The chart below compares the historical Sharpe Ratios of ZQQ.TO and ZDV.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

ZQQ.TOZDV.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.46

2.95

-0.49

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.72

1.26

-0.54

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.90

0.73

+0.17

Sharpe Ratio (All Time)

Calculated using the full available price history

0.91

0.68

+0.23

Drawdowns

ZQQ.TO vs. ZDV.TO - Drawdown Comparison

The maximum ZQQ.TO drawdown since its inception was -36.39%, smaller than the maximum ZDV.TO drawdown of -43.21%. Use the drawdown chart below to compare losses from any high point for ZQQ.TO and ZDV.TO.

Loading charts...

Drawdown Indicators

ZQQ.TOZDV.TODifference

Max Drawdown

Largest peak-to-trough decline

-36.39%

-43.21%

+6.82%

Max Drawdown (1Y)

Largest decline over 1 year

-12.86%

-6.65%

-6.21%

Max Drawdown (3Y)

Largest decline over 3 years

-22.79%

-9.04%

-13.75%

Max Drawdown (5Y)

Largest decline over 5 years

-36.39%

-16.72%

-19.67%

Max Drawdown (10Y)

Largest decline over 10 years

-36.39%

-43.21%

+6.82%

Current Drawdown

Current decline from peak

-0.28%

-0.22%

-0.06%

Average Drawdown

Average peak-to-trough decline

-5.37%

-5.12%

-0.25%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.43%

1.71%

+1.72%

Volatility

ZQQ.TO vs. ZDV.TO - Volatility Comparison

BMO NASDAQ 100 Equity (CAD Hedged) (ZQQ.TO) has a higher volatility of 4.54% compared to BMO Canadian Dividend ETF (ZDV.TO) at 2.49%. This indicates that ZQQ.TO's price experiences larger fluctuations and is considered to be riskier than ZDV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

ZQQ.TOZDV.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.54%

2.49%

+2.05%

Volatility (6M)

Calculated over the trailing 6-month period

12.02%

9.69%

+2.33%

Volatility (1Y)

Calculated over the trailing 1-year period

15.73%

10.57%

+5.16%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.57%

10.94%

+11.63%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.41%

15.11%

+7.30%

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

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

Dividends

ZQQ.TO vs. ZDV.TO - Dividend Comparison

ZQQ.TO's dividend yield for the trailing twelve months is around 0.22%, less than ZDV.TO's 2.68% yield.

PositionTTM20252024202320222021202020192018201720162015
ZDV.TO
BMO Canadian Dividend ETF		2.68%3.07%3.57%4.10%4.10%3.63%4.48%4.11%5.06%3.96%3.84%4.63%
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

ZQQ.TO and ZDV.TO have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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 ZDV.TO have the same expense ratio: 0.39% per year.

ZQQ.TO is categorized as Nasdaq-100, while ZDV.TO is Canada Equities.

Portfolio Optimizer

Find the right allocation for ZQQ.TO and ZDV.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