3 Best Nasdaq ETFs in Canada (June 2026)
The best Nasdaq ETFs in Canada include XQQ.TO (~0.20% MER), ZQQ.TO (~0.20%), and HXQ.TO (~0.20%). These ETFs track the Nasdaq-100 Index, offering exposure to leading U.S. technology companies and strong growth potential, but with higher volatility and sector concentration risk.
Nasdaq ETFs are designed for Canadian investors seeking growth-focused exposure to U.S. technology and innovation-driven companies. ETFs like XQQ.TO, ZQQ.TO, and HXQ.TO track the Nasdaq-100 Index, which includes major tech leaders such as Apple, Microsoft, and Nvidia.
The key advantage of Nasdaq ETFs is their strong growth potential driven by the technology sector. However, these ETFs are more concentrated and volatile than broad-market ETFs, making them better suited as a satellite position in a diversified portfolio.
In this guide, we break down the best Nasdaq ETFs in Canada, comparing fees, structure, and risk so you can choose the right ETF for your TFSA, RRSP, or growth-focused portfolio.
At a Glance: Quick Comparison
Side-by-side snapshot of fees, yield, and returns. Data updates daily.
| ETF | MER | AUM | Yield | YTD | 1Y |
|---|---|---|---|---|---|
Top XQQ.TO iShares NASDAQ 100 (CAD Hedged) | — | $5.3B | 0.23% | +15.48% | +32.15% |
ZQQ.TO BMO NASDAQ 100 Equity (CAD Hedged) | — | $3.1B | 0.25% | +15.53% | +32.05% |
HXQ.TO Global X NASDAQ-100 Index Corporate Class ETF CAD | 0.25% | $1.2B | — | +18.70% | +34.77% |
What Is an ETF?
A Nasdaq ETF in Canada is an exchange-traded fund that tracks the Nasdaq-100 Index, which includes 100 of the largest non-financial companies listed on the Nasdaq exchange. These ETFs are heavily weighted toward technology and growth-oriented companies.
For example, XQQ.TO (~0.20% MER) and ZQQ.TO (~0.20% MER) track the Nasdaq-100 with traditional ETF structures, while HXQ.TO (~0.20% MER) uses a swap-based structure that can offer tax efficiency. ZNQ.TO (~0.20% MER) is another popular option providing similar exposure.
Nasdaq ETFs are commonly used in TFSAs and RRSPs for growth. Investors should consider sector concentration, volatility, and currency exposure when investing in these ETFs.
The 3 Best ETFs: Ranked & Reviewed
Detailed breakdown of each pick with live data.
iShares NASDAQ 100 (CAD Hedged)
$71.75
+15.48% YTD
Returns
YTD
+15.48%
1Y
+32.15%
3Y
+24.16%
5Y
+14.90%
BMO NASDAQ 100 Equity (CAD Hedged)
$199.00
+15.53% YTD
The BMO Nasdaq 100 Equity Hedged to CAD Index ETF has been designed to replicate, to the extent possible, the performance of teh NASDAQ-100 Index Hedged to CAD, net of expenses. The Fund invests in and holds the Constituent Securities of the Index in the same proportion as they are reflected in the Index. The U.S. dollar currency exposure is hedged back to the Canadian dollar.
Returns
YTD
+15.53%
1Y
+32.05%
3Y
+24.14%
5Y
+14.87%
Global X NASDAQ-100 Index Corporate Class ETF CAD
$118.00
+18.70% YTD
HXQ seeks to replicate, to the extent possible, the performance of the NASDAQ-100® Index (Total Return), net of expenses. The NASDAQ-100® Index (Total Return) includes 100 of the largest domestic and international nonfinancial companies listed on The NASDAQ Stock Market.
Returns
YTD
+18.70%
1Y
+34.77%
3Y
+25.96%
5Y
+16.49%
Pros & Cons
Pros
- High growth potential driven by leading technology and innovation companies
- Exposure to top global firms like Apple, Microsoft, and Nvidia
- Strong historical performance compared to broader indices
- Simple way to invest in the Nasdaq-100 through a single ETF
Cons
- Heavy concentration in technology sector increases risk
- Higher volatility compared to broad-market ETFs
- Currency fluctuations (USD/CAD) can impact returns
- Limited diversification outside growth-oriented sectors
Compare These ETFs Head-to-Head
Drill into a side-by-side breakdown of performance, AUM, and yield.
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Frequently Asked Questions
What is the best Nasdaq ETF in Canada?
XQQ.TO is one of the most popular Nasdaq ETFs in Canada due to its broad exposure to the Nasdaq-100 and simple structure. Alternatives like ZQQ.TO and HXQ.TO offer similar exposure, with HXQ.TO providing a tax-efficient swap-based structure.
Are Nasdaq ETFs riskier than S&P 500 ETFs?
Yes, Nasdaq ETFs are generally riskier because they are heavily concentrated in technology and growth stocks. This leads to higher volatility compared to more diversified indices like the S&P 500.q
Many diversified portfolios hold a meaningful allocation outside Canada to reduce home bias. The exact mix depends on your goals, risk tolerance, and existing holdings.
Nasdaq ETFs can be strong long-term growth investments due to their exposure to innovative companies. However, they are best used as part of a diversified portfolio rather than as a standalone holding due to their sector concentration.