BMO NASDAQ 100 HEDGED TO CAD INDEX ETF…

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BMO NASDAQ 100 HEDGED TO CAD INDEX ETF (ZQQ.TO)

196.10

-9.90 (4.81%)

as of Jun 5, 2026, 7:59:51 pm Market Open.

169 watching

Investor Insights

Jun 5, 2026, 12:00 am

This summary was created by AI, based on 4 opinions in the last 12 months.

The BMO NASDAQ 100 Hedged to CAD Index ETF (ZQQ) is seen as a potential way to gain exposure to the technology sector, with some experts acknowledging its value in that aspect. However, there are significant concerns regarding its hedging strategy, which some believe does not provide substantial benefits and only serves to inflate costs. Investors caution that the tech sector is currently volatile and its high valuations could signify a market top, akin to historical bubbles. Diversification beyond NASDAQ-focused investments is strongly recommended, as the correlation among tech stocks in the portfolio may exacerbate volatility. Overall, experts advise against significant investment in ZQQ at this moment given its perceived high valuation and the uncertain economic conditions.

Consensus

Cautious

Valuation

Overvalued

Similar

SPY

BUY

ZQQ vs. HTA

He'd be more cautious of HTA, because if he's going to take the risk of tech, he wants to have the full growth potential of that and not be somewhat coralled by covered calls. On tech, he'd be doing ZQQ.

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PAST TOP PICK

(A Top Pick May 19/22, Up 25%)

A tactical play, not a core position. Dragged up by all the AI stuff. FAANG has been renamed "The Magnificent Seven".

TOP PICK

The FAANGs have room to go. Valuations of Google, Amazon, Meta and MSFT are still compelling. AI is a tailwind. Other holdings include innovative healthcare. One to buy and leave along for a while.

SELL

Believes it is time to sell this stock.
Correction on the way with tech.
Tech stocks over valued.
Waiting for weakness before buying.

PARTIAL SELL

ZQQ vs. SOXX

Both have had very good runs. He'd take a third off the table. If it goes up, you still have two thirds. If it goes down, pat yourself on the back for being so smart. Then you can figure out if the trend is there to go lower. For both he'd trim a bit, and either way you'll feel good about yourself. :)

DON'T BUY

A good idea a year ago, as the CAD was stronger. A year ago, CAD was $1.27, but now it's at $1.36. CAD is going to work its way back up, and the USD down, though CAD probably won't go beyond $1.38. If you're going to add, just add to the straight QQQ.

COMMENT

It is down about 30% and market cap weighted so a few stocks can prevail over the rest the holdings. An alternative is QQEQ.F which equal weights the 100 stocks in the NASDAQ and therefore gives broader exposure. It is down 20%.

DON'T BUY

ZQQ vs. XSP He's underweight tech and communications and high-growth stocks. If you look at the NASDAQ 100, it's down 31% from last November highs. Still kind of expensive at 3.7x price to sales, a bit of a premium to 10-year average of 3.5x. Just because it's come down in price, doesn't necessarily make it cheap. He'd prefer the XSP, as it's more diversified, though it still has 34-35% in tech and communications. He's been noticing the equal weight index outperforming, but tech and communications are still not improving.

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DON'T BUY

Highly into the tech side. Hedging means it didn't benefit you as the USD went up, but may benefit you if the CAD starts to rise, but he's not certain. NASDAQ down about 31%. He prefers to stay with the big tech names. Trading at 3.7x price to sales, still a slight premium to 10-year average.

TRADE

Sell ARKK and add to ZQQ? Good idea. ZQQ is a broader universe. ARKK is more of an innovator-type fund, lots more risk. Whole semi side is very difficult. Oversupply and under-demand, and so the price of memory chips is coming down. He'd recommend trading the ZQQ. He definitely wouldn't go into the ZQQ as an investment.

WAIT

ZQQ vs. SOXX He doesn't pick ETFs. Mixed messages out of semiconductor industry. Demand issues. Cyclical industry. Trend for semis is degrading, not accelerating. Buying now is a risk. Wait for the semi market to bottom, perhaps in Q4.

DON'T BUY

It holds tech and biotech names, a space he doesn't want to be in now.

TOP PICK

Down 25%, so it's on sale. Warren Buffett says this is the only business where you put up a sign that says "On Sale", and all the customers run for the exits. Can it go down from here? Of course it can. But he buys with only a small proportion of a client's available cash.

SELL

Cautious on tech, reducing some of his names and putting the rest on probation. Price to sales ratio is 4.25x, not cheap, overvalued. Rising rates won't do it any favours. He'd be pretty fearful, wouldn't be adding. You'll see fantastic bounces when the market turns, but if you're not trading it and holding instead, he'd be careful.

SELL ON STRENGTH

Good for large cap tech. Probably want to wait to play large cap tech until the late half of the year. Looking at the QQQ, we will see it at $300 before seeing it at $400 again. Sell on strength until it gets on better valuations.

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BMO NASDAQ 100 HEDGED TO CAD INDEX ETF (ZQQ.TO)