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

ZQQ.TO vs. ZGI.TO

Last updated Jun 26, 2026

ZQQ.TO (BMO NASDAQ 100 Equity (CAD Hedged)) and ZGI.TO (BMO Global Infrastructure Index ETF) are both exchange-traded funds - ZQQ.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while ZGI.TO is a Industrials Equities fund tracking the Dow Jones Brookfield Global Infrastructure North American Listed Index. Both are passively managed. Over the past 10 years, ZQQ.TO returned 20.06%/yr vs 9.10%/yr for ZGI.TO. At a 0.29 correlation, their price movements are largely independent. ZQQ.TO charges 0.39%/yr vs 0.61%/yr for ZGI.TO.

Performance

ZQQ.TO vs. ZGI.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 Global Infrastructure Index ETF (ZGI.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 15.13% return, which is significantly lower than ZGI.TO's 18.48% return. Over the past 10 years, ZQQ.TO has outperformed ZGI.TO with an annualized return of 20.06%, while ZGI.TO has yielded a comparatively lower 9.10% annualized return.

ZQQ.TO

1D
0.79%
1M
-2.09%
YTD
15.13%
6M
9.73%
1Y
25.71%
3Y*
23.05%
5Y*
13.49%
10Y*
20.06%

ZGI.TO

1D
0.46%
1M
2.26%
YTD
18.48%
6M
16.54%
1Y
18.26%
3Y*
16.82%
5Y*
11.56%
10Y*
9.10%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
ZQQ.TO
BMO NASDAQ 100 Equity (CAD Hedged)		15.13%14.59%24.00%52.52%-33.75%26.68%45.33%37.08%-2.29%31.51%
ZGI.TO
BMO Global Infrastructure Index ETF		18.48%1.01%25.45%-0.64%4.56%26.89%-10.43%25.26%-0.75%2.97%

Correlation

The correlation between ZQQ.TO and ZGI.TO is -0.24, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

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

-0.24

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

-0.01

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

0.14

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

0.23

Correlation (All Time)
Calculated using the full available price history since Jan 25, 2010

0.29

The correlation between ZQQ.TO and ZGI.TO shifts across timeframes, from -0.24 (1 year) to 0.29 (all time), reflecting how their relationship changes across market environments.

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

Sectors
ZQQ.TO
ZGI.TO

Technology

56.4%

-

Communication Services

14.9%

-

Consumer Cyclical

11.8%

-

Consumer Defensive

7.2%

-

Healthcare

3.8%

-

Industrials

2.7%
1.6%

Utilities

1.2%
40.7%

Basic Materials

1.1%

-

Energy

0.6%
46.4%

Financial Services

0.2%

-

Real Estate

0.1%
11.3%

Technology

ZQQ.TO
56.4%
ZGI.TO

-

Communication Services

ZQQ.TO
14.9%
ZGI.TO

-

Consumer Cyclical

ZQQ.TO
11.8%
ZGI.TO

-

Consumer Defensive

ZQQ.TO
7.2%
ZGI.TO

-

Healthcare

ZQQ.TO
3.8%
ZGI.TO

-

Industrials

ZQQ.TO
2.7%
ZGI.TO
1.6%

Utilities

ZQQ.TO
1.2%
ZGI.TO
40.7%

Basic Materials

ZQQ.TO
1.1%
ZGI.TO

-

Energy

ZQQ.TO
0.6%
ZGI.TO
46.4%

Financial Services

ZQQ.TO
0.2%
ZGI.TO

-

Real Estate

ZQQ.TO
0.1%
ZGI.TO
11.3%

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 Global Infrastructure Index ETF

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Return for Risk

ZQQ.TO vs. ZGI.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: 4242
Overall Rank
ZQQ.TO Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
ZQQ.TO Sortino Ratio Rank: 4343
Sortino Ratio Rank
ZQQ.TO Omega Ratio Rank: 4545
Omega Ratio Rank
ZQQ.TO Calmar Ratio Rank: 3737
Calmar Ratio Rank
ZQQ.TO Martin Ratio Rank: 3838
Martin Ratio Rank
ZGI.TO
ZGI.TO Risk / Return Rank: 5151
Overall Rank
ZGI.TO Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
ZGI.TO Sortino Ratio Rank: 4848
Sortino Ratio Rank
ZGI.TO Omega Ratio Rank: 4545
Omega Ratio Rank
ZGI.TO Calmar Ratio Rank: 6464
Calmar Ratio Rank
ZGI.TO Martin Ratio Rank: 5050
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. ZGI.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 Global Infrastructure Index ETF (ZGI.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

ZQQ.TOZGI.TODifference
Sharpe ratioReturn per unit of total volatility
1.43
1.49

-0.06

Sortino ratioReturn per unit of downside risk
1.93
2.11

-0.19

Omega ratioGain probability vs. loss probability

1.26

1.26

0.00

Calmar ratioReturn relative to maximum drawdown

1.65

2.76

-1.11

Martin ratioReturn relative to average drawdown

5.23

7.60

-2.36

ZQQ.TO vs. ZGI.TO - Sharpe Ratio Comparison

The current ZQQ.TO Sharpe Ratio is 1.43, which is comparable to the ZGI.TO Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of ZQQ.TO and ZGI.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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Drawdowns

ZQQ.TO vs. ZGI.TO - Drawdown Comparison

The maximum ZQQ.TO drawdown since its inception was -36.39%, roughly equal to the maximum ZGI.TO drawdown of -34.76%. Use the drawdown chart below to compare losses from any high point for ZQQ.TO and ZGI.TO.

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Drawdown Indicators

ZQQ.TOZGI.TODifference

Max Drawdown

Largest peak-to-trough decline

-36.39%

-34.76%

-1.63%

Max Drawdown (1Y)

Largest decline over 1 year

-15.65%

-6.65%

-9.00%

Max Drawdown (3Y)

Largest decline over 3 years

-22.79%

-10.07%

-12.72%

Max Drawdown (5Y)

Largest decline over 5 years

-36.39%

-16.61%

-19.78%

Max Drawdown (10Y)

Largest decline over 10 years

-36.39%

-34.76%

-1.63%

Current Drawdown

Current decline from peak

-4.19%

0.00%

-4.19%

Average Drawdown

Average peak-to-trough decline

-5.47%

-4.36%

-1.11%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.92%

2.41%

+2.51%

Volatility

ZQQ.TO vs. ZGI.TO - Volatility Comparison

BMO NASDAQ 100 Equity (CAD Hedged) (ZQQ.TO) has a higher volatility of 8.98% compared to BMO Global Infrastructure Index ETF (ZGI.TO) at 4.00%. This indicates that ZQQ.TO's price experiences larger fluctuations and is considered to be riskier than ZGI.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ZQQ.TOZGI.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

8.98%

4.00%

+4.98%

Volatility (6M)

Calculated over the trailing 6-month period

14.91%

9.90%

+5.01%

Volatility (1Y)

Calculated over the trailing 1-year period

18.04%

12.30%

+5.74%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.90%

13.30%

+9.60%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.54%

15.96%

+6.58%

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

ZQQ.TO has a 0.39% expense ratio, which is lower than ZGI.TO's 0.61% expense ratio.

Dividends

ZQQ.TO vs. ZGI.TO - Dividend Comparison

ZQQ.TO's dividend yield for the trailing twelve months is around 0.23%, less than ZGI.TO's 2.26% yield.

PositionTTM20252024202320222021202020192018201720162015
ZGI.TO
BMO Global Infrastructure Index ETF		2.26%2.77%2.82%3.33%3.01%3.06%3.75%2.85%2.99%2.59%3.29%2.97%
ZQQ.TO
BMO NASDAQ 100 Equity (CAD Hedged)		0.23%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 ZGI.TO have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ZQQ.TO is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ZQQ.TO is cheaper with a 0.39% expense ratio, compared with 0.61% for ZGI.TO.

ZQQ.TO is categorized as Nasdaq-100, while ZGI.TO is Industrials Equities. ZQQ.TO tracks NASDAQ-100 Index, while ZGI.TO tracks Dow Jones Brookfield Global Infrastructure North American Listed Index. Their fees differ too: 0.39% for ZQQ.TO and 0.61% for ZGI.TO.

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