BGC.TO vs. HXCN.TO
BGC.TO (Bristol Gate Concentrated Canadian Equity ETF) and HXCN.TO (Global X S&P/TSX Capped Composite Index Corporate Class ETF) are both Canada Equities funds. BGC.TO is actively managed, while HXCN.TO is passively managed. Over the past 5 years, BGC.TO returned 8.03%/yr vs 15.27%/yr for HXCN.TO. At a 0.33 correlation, their price movements are largely independent.
Performance
BGC.TO vs. HXCN.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 HXCN.TO's 12.83% 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*
- —
HXCN.TO
- 1D
- 0.25%
- 1M
- 0.37%
- 6M
- 8.60%
- YTD
- 12.83%
- 1Y
- 33.59%
- 3Y*
- 23.69%
- 5Y*
- 15.27%
- 10Y*
- —
BGC.TO vs. HXCN.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BGC.TO Bristol Gate Concentrated Canadian Equity ETF | 2.35% | 8.06% | 13.80% | 17.67% | -5.52% | 18.08% | -4.69% |
HXCN.TO Global X S&P/TSX Capped Composite Index Corporate Class ETF | 12.83% | 31.20% | 21.60% | 11.98% | -6.07% | 25.23% | 1.60% |
Correlation
The correlation between BGC.TO and HXCN.TO is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2020 | 0.33 |
Over the past year, the correlation between BGC.TO and HXCN.TO has dropped to 0.08 - well below their long-term average of 0.33, suggesting their price drivers have been diverging.
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Return for Risk
BGC.TO vs. HXCN.TO — Risk / Return Rank
BGC.TO
HXCN.TO
BGC.TO vs. HXCN.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 S&P/TSX Capped Composite Index Corporate Class ETF (HXCN.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 | HXCN.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.09 | ||
| Sortino ratioReturn per unit of downside risk | -2.56 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.46 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | 0.70 | 3.83 | -3.13 |
| Martin ratioReturn relative to average drawdown | 1.87 | 16.49 | -14.62 |
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Drawdowns
BGC.TO vs. HXCN.TO - Drawdown Comparison
The maximum BGC.TO drawdown since its inception was -36.73%, roughly equal to the maximum HXCN.TO drawdown of -37.09%. Use the drawdown chart below to compare losses from any high point for BGC.TO and HXCN.TO.
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Drawdown Indicators
| BGC.TO | HXCN.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.73% | -37.09% | +0.36% |
Max Drawdown (1Y)Largest decline over 1 year | -8.62% | -8.81% | +0.19% |
Max Drawdown (3Y)Largest decline over 3 years | -14.09% | -12.49% | -1.60% |
Max Drawdown (5Y)Largest decline over 5 years | -14.14% | -16.27% | +2.13% |
Current DrawdownCurrent decline from peak | -0.52% | 0.00% | -0.52% |
Average DrawdownAverage peak-to-trough decline | -4.12% | -4.05% | -0.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.23% | 2.04% | +1.19% |
Volatility
BGC.TO vs. HXCN.TO - Volatility Comparison
Bristol Gate Concentrated Canadian Equity ETF (BGC.TO) and Global X S&P/TSX Capped Composite Index Corporate Class ETF (HXCN.TO) have volatilities of 2.91% and 2.89%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BGC.TO | HXCN.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.91% | 2.89% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 9.12% | 10.35% | -1.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.12% | 13.03% | -0.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.09% | 13.81% | -0.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.97% | 17.72% | -1.75% |
Dividends
BGC.TO vs. HXCN.TO - Dividend Comparison
Neither BGC.TO nor HXCN.TO has paid dividends to shareholders.
Frequently Asked Questions
BGC.TO and HXCN.TO have a correlation of 0.08, 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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