BGC.TO vs. HEWB.TO
BGC.TO (Bristol Gate Concentrated Canadian Equity ETF) and HEWB.TO (Global X Equal Weight Canadian Banks Index Corporate Class ETF) are both Canada Equities funds. BGC.TO is actively managed, while HEWB.TO is passively managed. Over the past 5 years, BGC.TO returned 8.03%/yr vs 21.67%/yr for HEWB.TO. At a 0.32 correlation, their price movements are largely independent.
Performance
BGC.TO vs. HEWB.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 HEWB.TO's 36.46% 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*
- —
HEWB.TO
- 1D
- 1.33%
- 1M
- 8.80%
- 6M
- 35.08%
- YTD
- 36.46%
- 1Y
- 74.62%
- 3Y*
- 37.59%
- 5Y*
- 21.67%
- 10Y*
- —
BGC.TO vs. HEWB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BGC.TO Bristol Gate Concentrated Canadian Equity ETF | 2.35% | 8.06% | 13.80% | 17.67% | -5.52% | 18.08% | 0.70% | 12.84% |
HEWB.TO Global X Equal Weight Canadian Banks Index Corporate Class ETF | 36.46% | 43.48% | 24.54% | 11.00% | -10.46% | 39.19% | 4.74% | 3.56% |
Correlation
The correlation between BGC.TO and HEWB.TO is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Mar 4, 2019 | 0.32 |
The correlation between BGC.TO and HEWB.TO shifts across timeframes, from 0.15 (1 year) to 0.32 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BGC.TO vs. HEWB.TO — Risk / Return Rank
BGC.TO
HEWB.TO
BGC.TO vs. HEWB.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 Global X Equal Weight Canadian Banks Index Corporate Class ETF (HEWB.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 | HEWB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.04 | ||
| Sortino ratioReturn per unit of downside risk | -6.36 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.99 | -0.89 |
| Calmar ratioReturn relative to maximum drawdown | 0.70 | 8.37 | -7.66 |
| Martin ratioReturn relative to average drawdown | 1.87 | 37.96 | -36.09 |
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Drawdowns
BGC.TO vs. HEWB.TO - Drawdown Comparison
The maximum BGC.TO drawdown since its inception was -36.73%, smaller than the maximum HEWB.TO drawdown of -39.43%. Use the drawdown chart below to compare losses from any high point for BGC.TO and HEWB.TO.
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Drawdown Indicators
| BGC.TO | HEWB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.73% | -39.43% | +2.70% |
Max Drawdown (1Y)Largest decline over 1 year | -8.62% | -8.97% | +0.35% |
Max Drawdown (3Y)Largest decline over 3 years | -14.09% | -14.84% | +0.75% |
Max Drawdown (5Y)Largest decline over 5 years | -14.14% | -25.89% | +11.75% |
Current DrawdownCurrent decline from peak | -0.52% | 0.00% | -0.52% |
Average DrawdownAverage peak-to-trough decline | -4.12% | -7.16% | +3.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.23% | 1.97% | +1.26% |
Volatility
BGC.TO vs. HEWB.TO - Volatility Comparison
The current volatility for Bristol Gate Concentrated Canadian Equity ETF (BGC.TO) is 2.91%, while Global X Equal Weight Canadian Banks Index Corporate Class ETF (HEWB.TO) has a volatility of 4.30%. This indicates that BGC.TO experiences smaller price fluctuations and is considered to be less risky than HEWB.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 | HEWB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.91% | 4.30% | -1.39% |
Volatility (6M)Calculated over the trailing 6-month period | 9.12% | 11.90% | -2.78% |
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% | 14.12% | -1.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.97% | 19.24% | -3.27% |
Dividends
BGC.TO vs. HEWB.TO - Dividend Comparison
Neither BGC.TO nor HEWB.TO has paid dividends to shareholders.
Frequently Asked Questions
BGC.TO and HEWB.TO have a correlation of 0.15, 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 Global X.
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