If you’re a Canadian investor looking for exposure to the technology sector similar to what the Vanguard Information Technology ETF (VGT) offers, you’re not alone — “VGT Canadian equivalent” is one of the most searched ETF queries in Canada. The good news: there are several strong TSX-listed options depending on whether you want Nasdaq-100 exposure, global tech, or pure Canadian tech.
Here is a quick overview of the best VGT Canadian equivalents available on the TSX:
| Symbol | Name | MER | Currency |
|---|---|---|---|
| QQC.TO | Invesco NASDAQ 100 Index ETF (CAD, unhedged) | ~0.20% | CAD |
| QQC-F.TO | Invesco NASDAQ 100 Index ETF (CAD-Hedged) | 0.25% | CAD Hedged |
| ZQQ.TO | BMO Nasdaq 100 Hedged to CAD Index ETF | 0.39% | CAD Hedged |
| ZNQ.TO | BMO Nasdaq 100 Equity Index ETF (unhedged) | 0.39% | CAD |
| XQQ.TO | iShares NASDAQ 100 Index ETF (CAD-Hedged) | 0.39% | CAD Hedged |
| TEC.TO | TD Global Technology Leaders Index ETF | 0.35% | CAD |
| HXQ.TO | Global X NASDAQ-100 Index Corporate Class ETF | 0.28% | CAD |
| XIT.TO | iShares S&P/TSX Capped Info Tech Index ETF | 0.61% | CAD |
What is VGT?
VGT employs an indexing investment approach designed to track the performance of the MSCI US Investable Market Index (IMI)/Information Technology 25/50 — an index made up of stocks of large, mid-size, and small U.S. companies within the information technology sector.
VGT has a very low expense ratio of 0.10%, making it one of the cheapest ways to access the U.S. tech sector — but it trades in USD on the NYSE, which means Canadian investors face currency conversion costs and potential withholding tax issues outside an RRSP.
Key VGT stats (March 2026):
VGT holds 323 individual stocks. The top holdings are NVIDIA at 18.07%, Apple at 15.84%, Microsoft at 10.39%, Broadcom at 4.34%, and Micron Technology at 2.37%. Total assets have grown to $108 billion USD.
The big shift since this article was last written: NVIDIA has overtaken Apple and Microsoft as the dominant holding, reflecting the AI infrastructure boom that has reshaped the tech sector since 2023.
Why Canadian Investors Can’t Simply Buy VGT
Before diving into the alternatives, it’s worth understanding why a direct VGT purchase isn’t always ideal for Canadians:
- Currency risk: VGT is priced in USD. A strengthening CAD erodes your returns.
- Withholding tax: U.S.-listed ETFs held in a TFSA are subject to a 15% withholding tax on dividends — you lose this permanently. In an RRSP, the tax treaty exempts you.
- FX conversion fees: Buying USD costs money. Without Norbert’s Gambit, your broker’s spread can cost 1.5–2% per transaction.
- T1135 reporting: Holding more than CAD $100,000 in foreign property outside registered accounts requires CRA reporting.
Canadian-listed equivalents eliminate most of these frictions.
The Best VGT Canadian Equivalents in 2026
1. QQC.TO — Invesco NASDAQ 100 Index ETF (Unhedged) ⭐ Best Value
Our top pick for most investors. QQC tracks the NASDAQ-100 Index in Canadian dollars without currency hedging, and comes with one of the lowest expense ratios in its category at effectively 0.20% or less Cursor IDE — roughly half the cost of competing NASDAQ-100 ETFs from BMO and iShares.
The unhedged structure means you retain full USD/CAD currency exposure, which has historically benefited Canadian investors as the USD has tended to strengthen against CAD over long periods.
Key details:
- Tracks: NASDAQ-100 Index
- MER: ~0.20% (among the lowest for NASDAQ ETFs in Canada)
- Currency: Unhedged CAD
- AUM: ~$2.6B CAD
- Top holdings: Apple, Microsoft, NVIDIA, Amazon, Broadcom
Best for: Cost-conscious investors who want maximum NASDAQ-100 exposure and are comfortable with CAD/USD fluctuations.
2. QQC-F.TO — Invesco NASDAQ 100 Index ETF (CAD-Hedged)
The hedged sibling of QQC, QQC.F carries a total expense ratio of 0.25% and eliminates currency risk by hedging the USD exposure back to CAD. It tracks the Nasdaq-100 index by investing in two of Invesco’s popular U.S.-listed Nasdaq-100 ETFs through a “fund of funds” structure.
The trade-off: hedging costs money and has historically reduced long-term returns for Canadian investors. The unhedged version has outperformed over the last three years, returning more than 11% annually versus 8.54% annually for the CAD-hedged version. That gap can narrow or reverse depending on the USD/CAD exchange rate.
Best for: Investors who want NASDAQ-100 exposure and are specifically concerned about short-term CAD/USD volatility — for example, those close to drawing down their portfolio.
3. ZQQ.TO — BMO Nasdaq 100 Hedged to CAD Index ETF
ZQQ is the most popular Canadian NASDAQ-100 ETF, holding over $2.25 billion in assets. It tracks the index by owning its underlying stocks in their exact proportions, with a built-in currency hedge to reduce U.S. dollar volatility for Canadian investors.
Over 50% of its portfolio is allocated to major tech names like Apple, Microsoft, Nvidia, and Meta — many of which have led the market in AI infrastructure, cloud services, and semiconductors.
The main drawback vs. QQC/QQC-F: its MER of 0.39% is nearly double Invesco’s offering for a virtually identical product. Brand recognition and long track record (2010 inception) are the primary reasons investors still choose it.
Best for: Investors who prefer BMO as a provider and want a CAD-hedged NASDAQ-100 ETF with a long track record.
4. TEC.TO — TD Global Technology Leaders Index ETF ⭐ Best for Global Tech
TEC is the standout differentiator in this list. While all the others track the NASDAQ-100, TEC tracks the Solactive Global Technology Leaders Index, which holds a market-cap weighted index of large- and mid-cap tech stocks from around the world. Country exposure is 84% U.S. tech stocks, with the rest in European, Japanese, and Canadian tech companies.
As of March 2026, TEC is trading around $49.91 with a market cap of $3.76 billion — making it one of the largest Canadian-listed tech ETFs available.
This global tilt gives you some diversification beyond pure U.S. tech concentration, with names like Taiwan Semiconductor (TSMC) added alongside Apple, Microsoft, and Alphabet. The MER of 0.35% is competitive.
Best for: Investors who want tech exposure beyond the U.S., particularly those concerned about concentration risk in NVIDIA, Apple, and Microsoft.
5. HXQ.TO — Global X NASDAQ-100 Index Corporate Class ETF
HXQ is a NASDAQ-100 ETF with a 0.28% MER. Its corporate class fund structure means it issues no distributions, making it uniquely tax-efficient for non-registered accounts — you pay no tax on dividends until you actually sell, deferring the tax hit entirely.
This is a significant advantage for high-income investors who hold tech ETFs outside their TFSA/RRSP and want to minimize annual taxable distributions.
Best for: Non-registered account holders in higher tax brackets who want to defer taxes on tech gains.
6. XQQ.TO — iShares NASDAQ 100 Index ETF (CAD-Hedged)
XQQ is the second-most popular NASDAQ-100 ETF in Canada, with over $4 billion in assets. Its structure directly holds the index’s underlying stocks, offering CAD-hedged exposure without an unhedged version.
The story here is similar to ZQQ — solid product, long track record, but priced at 0.39% when Invesco offers a comparable hedged product for 0.25%. The main reason to choose XQQ over QQC-F is if you specifically want an iShares/BlackRock product, or your brokerage offers commission-free trading on iShares ETFs.
Best for: Investors who prefer iShares as a provider and want a long-established CAD-hedged NASDAQ-100 option.
7. XIT.TO — iShares S&P/TSX Capped Info Tech ETF (Canadian Tech Only)
XIT is the only ETF on this list that invests exclusively in Canadian technology companies, tracking the S&P/TSX Capped Information Technology Index.
XIT holds just 27 Canadian technology stocks, with Constellation Software (CSU) and Shopify (SHOP) accounting for roughly 50% of total holdings at around 25% each. As a result, XIT tends to be fairly top-heavy and under-diversified compared to other sector ETFs.
At a MER of 0.61%, it’s the most expensive option on this list — and given its concentration in two stocks, the risk profile is much higher than any NASDAQ-100 ETF. That said, in 2025, XIT benefited from the strong performance of Shopify and Constellation Software.
Best for: Investors who specifically want exposure to Canadian tech companies and are comfortable with Shopify/CSU concentration risk.
VGT vs Canadian Equivalents: Head-to-Head Comparison
| VGT | QQC | TEC | XIT | |
|---|---|---|---|---|
| MER | 0.10% | ~0.20% | 0.35% | 0.61% |
| Currency | USD | CAD | CAD | CAD |
| # Holdings | 323 | ~100 | ~200 | ~27 |
| Geographic focus | U.S. only | U.S. only | Global | Canada only |
| NVIDIA exposure | ~18% | ~7% | ~5% | 0% |
| TFSA-friendly | ⚠️ Withholding tax | ✅ | ✅ | ✅ |
| RRSP-friendly | ✅ | ✅ | ✅ | ✅ |
VGT vs QQC: What’s the Real Difference?
This is the most common question. Both give heavy tech exposure, but they track different indices:
- VGT tracks the MSCI US IMI Information Technology 25/50 — a pure tech sector index including semiconductors, software, and hardware companies of all sizes.
- QQC/ZQQ/XQQ track the NASDAQ-100 — the 100 largest non-financial companies on the NASDAQ exchange. This includes tech but also Amazon (consumer discretionary), Netflix (communication services), and Costco.
The result: VGT is a purer tech play with deeper semiconductor exposure (higher NVIDIA weighting). The NASDAQ-100 ETFs are slightly more diversified across sectors.
For Canadian investors, TEC comes closest to VGT’s pure-tech mandate while trading in CAD.
Which VGT Canadian Equivalent Should You Choose?
- Best overall / lowest cost: QQC.TO (Invesco, unhedged)
- Want currency hedging: QQC-F.TO (Invesco, hedged) or ZQQ.TO (BMO)
- Global tech diversification: TEC.TO (TD)
- Tax efficiency in non-registered accounts: HXQ.TO (Global X)
- Canadian tech only: XIT.TO (iShares)
Context: Why Tech ETFs Matter in 2026
Technology remains one of the fastest-growing drivers of global equity returns heading into 2026. Worldwide IT spending surpassed US$5 trillion in 2025 and is expected to grow at a high-single-digit annual rate through 2027, led by artificial intelligence, cloud computing, cybersecurity, and enterprise software.
The NASDAQ-100 entered 2026 following a robust 2025 performance of approximately 22%, underpinned by a significant shift where corporate earnings — rather than rising valuations — became the primary driver of returns. Notably, the semiconductor industry continued its dominance, with Nvidia surpassing a $4 trillion market capitalization.
Looking ahead, the rise of agentic AI — moving beyond simple generative models toward AI agents capable of executing complex workflows — is driving a new wave of software productivity, while edge computing and the demand for specialized, power-efficient chips continue to shape semiconductor demand.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Always verify MER and fund data directly with the fund provider before investing. Data current as of March 2026.