CBIL.TO vs. HXQ.TO
CBIL.TO (Global X 0-3 Month T-Bill ETF) and HXQ.TO (Global X Nasdaq-100 Index Corporate Class ETF) are both exchange-traded funds - CBIL.TO is a Canadian Government Bonds fund actively managed by Global X, while HXQ.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index. CBIL.TO is actively managed, while HXQ.TO is passively managed. Over the past 3 years, CBIL.TO returned 3.51%/yr vs 24.20%/yr for HXQ.TO. Their 0.04 correlation means their historical movements had little consistent relationship. CBIL.TO charges 0.10%/yr vs 0.25%/yr for HXQ.TO.
Performance
CBIL.TO vs. HXQ.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CBIL.TO achieves a 1.23% return, which is significantly lower than HXQ.TO's 14.56% return.
CBIL.TO
- 1D
- 0.02%
- 1M
- 0.17%
- 6M
- 1.08%
- YTD
- 1.23%
- 1Y
- 2.28%
- 3Y*
- 3.51%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.56%
HXQ.TO
- 1D
- 0.69%
- 1M
- -5.98%
- 6M
- 12.81%
- YTD
- 14.56%
- 1Y
- 26.47%
- 3Y*
- 24.20%
- 5Y*
- 16.73%
- 10Y*
- 21.14%
- ALL TIME*
- 21.11%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$7.57M | CA$6.88M | CA$7.20M | |
| CA$2.97M | CA$3.02M | CA$3.91M |
CBIL.TO vs. HXQ.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CBIL.TO Global X 0-3 Month T-Bill ETF | 1.23% | 2.68% | 4.47% | 3.36% |
HXQ.TO Global X Nasdaq-100 Index Corporate Class ETF | 14.56% | 15.05% | 35.98% | 28.07% |
Correlation
The correlation between CBIL.TO and HXQ.TO is 0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.08 |
Correlation (3Y) Balances recent behavior with more history. | 0.05 |
Correlation (All Time) Calculated using the full available price history since Apr 14, 2023 | 0.04 |
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Return for Risk
CBIL.TO vs. HXQ.TO — Risk / Return Rank
CBIL.TO
HXQ.TO
CBIL.TO vs. HXQ.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X 0-3 Month T-Bill ETF (CBIL.TO) and Global X Nasdaq-100 Index Corporate Class ETF (HXQ.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.
| CBIL.TO | HXQ.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +7.62 | ||
| Sortino ratioReturn per unit of downside risk | +18.67 | ||
| Omega ratioGain probability vs. loss probability | 5.15 | 1.23 | +3.92 |
| Calmar ratioReturn relative to maximum drawdown | 57.64 | 1.90 | +55.74 |
| Martin ratioReturn relative to average drawdown | 308.61 | 5.49 | +303.12 |
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Drawdowns
CBIL.TO vs. HXQ.TO - Drawdown Comparison
The maximum CBIL.TO drawdown since its inception was -0.06%, smaller than the maximum HXQ.TO drawdown of -31.60%. Use the drawdown chart below to compare losses from any high point for CBIL.TO and HXQ.TO.
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Drawdown Indicators
| CBIL.TO | HXQ.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.06% | -31.60% | +31.54% |
Max Drawdown (1Y)Largest decline over 1 year | -0.04% | -12.43% | +12.39% |
Max Drawdown (3Y)Largest decline over 3 years | -0.06% | -22.58% | +22.52% |
Max Drawdown (5Y)Largest decline over 5 years | — | -31.60% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -31.60% | — |
Current DrawdownCurrent decline from peak | 0.00% | -7.80% | +7.80% |
Average DrawdownAverage peak-to-trough decline | 0.00% | -5.72% | +5.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 4.30% | -4.29% |
Volatility
CBIL.TO vs. HXQ.TO - Volatility Comparison
The current volatility for Global X 0-3 Month T-Bill ETF (CBIL.TO) is 0.07%, while Global X Nasdaq-100 Index Corporate Class ETF (HXQ.TO) has a volatility of 6.71%. This indicates that CBIL.TO experiences smaller price fluctuations and is considered to be less risky than HXQ.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CBIL.TO | HXQ.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.07% | 6.71% | -6.64% |
Volatility (6M)Calculated over the trailing 6-month period | 0.18% | 15.67% | -15.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.26% | 18.98% | -18.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.31% | 21.29% | -20.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.31% | 21.07% | -20.76% |
CBIL.TO vs. HXQ.TO - Expense Ratio Comparison
CBIL.TO has a 0.10% expense ratio, which is lower than HXQ.TO's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
CBIL.TO vs. HXQ.TO - Dividend Comparison
CBIL.TO's dividend yield for the trailing twelve months is around 2.25%, while HXQ.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CBIL.TO Global X 0-3 Month T-Bill ETF | 2.25% | 2.58% | 4.38% | 3.39% |
HXQ.TO Global X Nasdaq-100 Index Corporate Class ETF | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CBIL.TO and HXQ.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.
On fees, CBIL.TO is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CBIL.TO is cheaper with a 0.10% expense ratio, compared with 0.25% for HXQ.TO.
CBIL.TO is categorized as Canadian Government Bonds, while HXQ.TO is Nasdaq-100. Their fees differ too: 0.10% for CBIL.TO and 0.25% for HXQ.TO.
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