CASV.TO vs. HBNK.TO

Last updated Jun 4, 2026

CASV.TO (Avantis CIBC Global Small Cap Value ETF) and HBNK.TO (Global X Equal Weight Banks Index ETF) are both exchange-traded funds - CASV.TO is a Small Cap Value Equities fund actively managed by Avantis, while HBNK.TO is a Financials Equities fund tracking the Solactive Equal Weight Canada Banks Index. CASV.TO is actively managed, while HBNK.TO is passively managed. A 0.67 correlation means they provide meaningful diversification when combined. CASV.TO charges 0.39%/yr vs 0.09%/yr for HBNK.TO.

Performance

CASV.TO vs. HBNK.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Avantis CIBC Global Small Cap Value ETF (CASV.TO) and Global X Equal Weight Banks Index ETF (HBNK.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CASV.TO

• 1D: -0.41%
• 1M: 3.72%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HBNK.TO

• 1D: -0.88%
• 1M: 5.21%
• YTD: 18.85%
• 6M: 24.41%
• 1Y: 60.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CASV.TO vs. HBNK.TO - Yearly Performance Comparison

	2026 (YTD)
CASV.TO Avantis CIBC Global Small Cap Value ETF	13.47%
HBNK.TO Global X Equal Weight Banks Index ETF	18.15%

Correlation

The correlation between CASV.TO and HBNK.TO is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 16, 2026	0.67

Return for Risk

CASV.TO vs. HBNK.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HBNK.TO

HBNK.TO Risk / Return Rank: 96
HBNK.TO Sharpe Ratio Rank: 97
HBNK.TO Sortino Ratio Rank: 97
HBNK.TO Omega Ratio Rank: 97
HBNK.TO Calmar Ratio Rank: 94
HBNK.TO Martin Ratio Rank: 95

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CASV.TO vs. HBNK.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis CIBC Global Small Cap Value ETF (CASV.TO) and Global X Equal Weight Banks Index ETF (HBNK.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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	CASV.TO	HBNK.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	4.77	—
Sharpe Ratio (All Time) Calculated using the full available price history	5.13	2.66	+2.46

Drawdowns

CASV.TO vs. HBNK.TO - Drawdown Comparison

The maximum CASV.TO drawdown since its inception was -3.18%, smaller than the maximum HBNK.TO drawdown of -14.78%. Use the drawdown chart below to compare losses from any high point for CASV.TO and HBNK.TO.

Drawdown Indicators

	CASV.TO	HBNK.TO	Difference
Max Drawdown Largest peak-to-trough decline	-3.18%	-14.78%	+11.60%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.48%	—
Current Drawdown Current decline from peak	-2.73%	-2.30%	-0.43%
Average Drawdown Average peak-to-trough decline	-0.68%	-2.33%	+1.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.95%	—

Volatility

Volatility by Period

	CASV.TO	HBNK.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.00%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.26%	—
Volatility (1Y) Calculated over the trailing 1-year period	15.08%	12.67%	+2.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.08%	12.70%	+2.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.08%	12.70%	+2.38%

CASV.TO vs. HBNK.TO - Expense Ratio Comparison

CASV.TO has a 0.39% expense ratio, which is higher than HBNK.TO's 0.09% expense ratio.

Dividends

CASV.TO vs. HBNK.TO - Dividend Comparison

CASV.TO has not paid dividends to shareholders, while HBNK.TO's dividend yield for the trailing twelve months is around 2.82%.

Position	TTM	2025	2024	2023
CASV.TO Avantis CIBC Global Small Cap Value ETF	0.00%	0.00%	0.00%	0.00%
HBNK.TO Global X Equal Weight Banks Index ETF	2.82%	3.24%	4.15%	2.45%

Frequently Asked Questions

Can I hold both CASV.TO and HBNK.TO in my portfolio?

CASV.TO and HBNK.TO have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CASV.TO or HBNK.TO?

On fees, HBNK.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CASV.TO or HBNK.TO?

HBNK.TO is cheaper with a 0.09% expense ratio, compared with 0.39% for CASV.TO.

What is the main difference between CASV.TO and HBNK.TO?

CASV.TO is categorized as Small Cap Value Equities, while HBNK.TO is Financials Equities. They also come from different issuers: Avantis and Global X. Their fees differ too: 0.39% for CASV.TO and 0.09% for HBNK.TO.