BGC.TO vs. HCA.TO
BGC.TO (Bristol Gate Concentrated Canadian Equity ETF) and HCA.TO (Hamilton Canadian Bank Mean Reversion Index ETF) are both Canada Equities funds. BGC.TO is actively managed, while HCA.TO is passively managed. Over the past 5 years, BGC.TO returned 8.03%/yr vs 20.83%/yr for HCA.TO. At a 0.30 correlation, their price movements are largely independent.
Performance
BGC.TO vs. HCA.TO - Performance Comparison
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Returns By Period
In the year-to-date period, BGC.TO achieves a 2.35% return, which is significantly lower than HCA.TO's 37.85% return.
BGC.TO
- 1D
- 0.10%
- 1M
- 3.29%
- 6M
- 2.16%
- YTD
- 2.35%
- 1Y
- 6.21%
- 3Y*
- 10.26%
- 5Y*
- 8.03%
- 10Y*
- —
HCA.TO
- 1D
- 1.32%
- 1M
- 8.11%
- 6M
- 37.03%
- YTD
- 37.85%
- 1Y
- 78.38%
- 3Y*
- 36.60%
- 5Y*
- 20.83%
- 10Y*
- —
BGC.TO vs. HCA.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BGC.TO Bristol Gate Concentrated Canadian Equity ETF | 2.35% | 8.06% | 13.80% | 17.67% | -5.52% | 18.08% | 0.70% | 29.04% | -13.40% |
HCA.TO Hamilton Canadian Bank Mean Reversion Index ETF | 37.85% | 46.37% | 17.62% | 12.03% | -13.32% | 35.11% | 33.62% | 9.21% | -14.35% |
Correlation
The correlation between BGC.TO and HCA.TO is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Oct 2, 2018 | 0.30 |
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Return for Risk
BGC.TO vs. HCA.TO — Risk / Return Rank
BGC.TO
HCA.TO
BGC.TO vs. HCA.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bristol Gate Concentrated Canadian Equity ETF (BGC.TO) and Hamilton Canadian Bank Mean Reversion Index ETF (HCA.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.
| BGC.TO | HCA.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.32 | ||
| Sortino ratioReturn per unit of downside risk | -7.29 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 2.12 | -1.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.70 | 9.25 | -8.54 |
| Martin ratioReturn relative to average drawdown | 1.87 | 41.83 | -39.96 |
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Drawdowns
BGC.TO vs. HCA.TO - Drawdown Comparison
The maximum BGC.TO drawdown since its inception was -36.73%, roughly equal to the maximum HCA.TO drawdown of -37.89%. Use the drawdown chart below to compare losses from any high point for BGC.TO and HCA.TO.
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Drawdown Indicators
| BGC.TO | HCA.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.73% | -37.89% | +1.16% |
Max Drawdown (1Y)Largest decline over 1 year | -8.62% | -8.52% | -0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -14.09% | -15.52% | +1.43% |
Max Drawdown (5Y)Largest decline over 5 years | -14.14% | -27.97% | +13.83% |
Current DrawdownCurrent decline from peak | -0.52% | 0.00% | -0.52% |
Average DrawdownAverage peak-to-trough decline | -4.12% | -7.64% | +3.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.23% | 1.88% | +1.35% |
Volatility
BGC.TO vs. HCA.TO - Volatility Comparison
The current volatility for Bristol Gate Concentrated Canadian Equity ETF (BGC.TO) is 2.91%, while Hamilton Canadian Bank Mean Reversion Index ETF (HCA.TO) has a volatility of 4.05%. This indicates that BGC.TO experiences smaller price fluctuations and is considered to be less risky than HCA.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BGC.TO | HCA.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.91% | 4.05% | -1.14% |
Volatility (6M)Calculated over the trailing 6-month period | 9.12% | 11.50% | -2.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.12% | 13.54% | -1.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.09% | 14.15% | -1.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.97% | 22.79% | -6.82% |
Dividends
BGC.TO vs. HCA.TO - Dividend Comparison
BGC.TO has not paid dividends to shareholders, while HCA.TO's dividend yield for the trailing twelve months is around 2.55%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
BGC.TO Bristol Gate Concentrated Canadian Equity ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HCA.TO Hamilton Canadian Bank Mean Reversion Index ETF | 2.55% | 3.44% | 4.42% | 8.53% | 5.45% | 3.56% | 3.54% |
Frequently Asked Questions
BGC.TO and HCA.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.
They also come from different issuers: Bristol Gate and Hamilton.
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