The 7 Best NASDAQ ETFs in Canada for 2023

When it comes to stock market investments, Exchange-Traded Funds (ETFs) have gained popularity among investors due to their diversification, flexibility, and convenience. ETFs that track the success of the NASDAQ stock market have been especially appealing, as the NASDAQ is home to many innovative and fast-growing technology companies. If you’re a Canadian investor looking to capitalize on the potential of the NASDAQ, here are seven of the best NASDAQ ETFs available in Canada for 2023.

1. BMO NASDAQ 100 Equity Hedged to CAD Index ETF (ZQQ)

The BMO NASDAQ 100 Equity Hedged to CAD Index ETF (ZQQ) is one of the top choices for Canadian investors seeking exposure to the NASDAQ. The goal of this ETF is to get the same results as the NASDAQ 100 Index while hedging the currency risk associated with investing in U.S. dollars. ZQQ offers broad exposure to leading technology companies such as Apple, Amazon, Microsoft, and Alphabet (Google).

1. iShares NASDAQ 100 Index ETF (XQQ)

The iShares NASDAQ 100 Index ETF (XQQ) is another popular choice for Canadian investors looking to invest in the NASDAQ. This ETF aims to provide cash gain over the long run by replicating the performance of the NASDAQ 100 Index. XQQ provides exposure to 100 of the largest non-financial companies listed on the NASDAQ, including technology giants like Apple, Microsoft, and Facebook.

1. Horizons NASDAQ-100 Index ETF (HXQ)

The Horizons NASDAQ-100 Index ETF (HXQ) offers Canadian investors an opportunity to invest in the NASDAQ 100 Index. HXQ aims to replicate the performance of the NASDAQ 100 Index while providing exposure to U.S. equities. This ETF provides a currency hedge against fluctuations between the Canadian and U.S. dollars, making it an attractive option for Canadian investors.

1. RBC Quant US Equity Leaders ETF (RUL)

The RBC Quant US Equity Leaders ETF (RUL) focuses on providing exposure to U.S. equity securities, including those listed on the NASDAQ. This ETF follows a quantitative investment approach, selecting stocks based on factors such as quality, value, and momentum. RUL offers Canadian investors a diversified portfolio of U.S. companies, including those from the NASDAQ.

1. First Trust NASDAQ Technology Dividend Index ETF (TDIV)

The First Trust NASDAQ Technology Dividend Index ETF (TDIV) targets technology companies listed on the NASDAQ that pay regular dividends. TDIV seeks to replicate the performance of the NASDAQ Technology Dividend Index. This ETF provides exposure to dividend-paying technology companies, offering Canadian investors a unique blend of growth potential and income generation.

1. Invesco QQQ ETF (QQC.F)

The Invesco QQQ ETF (QQC.F) is a Canadian-listed version of the popular Invesco QQQ ETF, which tracks the NASDAQ 100 Index. QQC.F gives investors access to 100 of the biggest non-financial companies traded on the NASDAQ, including top technology stocks. This ETF aims to provide long-term capital growth by closely matching the performance of the NASDAQ 100 Index.

1. Evolve NASDAQ 100 Index ETF (Nasdaq: BITS)

The Evolve NASDAQ 100 Index ETF (Nasdaq: BITS) offers Canadian investors an opportunity to invest in the NASDAQ 100 Index. BITS aims to replicate the performance of the NASDAQ 100 Index while providing exposure to leading U.S. technology companies. This ETF is designed to provide investors with efficient and cost-effective access to the growth potential of the NASDAQ.

In conclusion, these seven NASDAQ ETFs provide Canadian investors with various options to gain exposure to the innovative and dynamic companies listed on the NASDAQ. Whether you prefer hedged or unhedged ETFs, dividend-focused or broad-based, there is an ETF to suit your investment goals and risk tolerance. Before making any investment decisions, it is important to conduct thorough research and consider consulting with a financial advisor to ensure that the chosen ETF aligns with your investment objectives and risk profile.