CIE.NEO vs. HEQT.TO
CIE.NEO (iShares International Fundamental Common Class) and HEQT.TO (Horizons All-Equity Asset Allocation ETF) are both Global Equities funds. CIE.NEO is passively managed, while HEQT.TO is actively managed. Over the past 5 years, CIE.NEO returned 15.60%/yr vs 16.89%/yr for HEQT.TO. A 0.61 correlation means they provide meaningful diversification when combined. CIE.NEO charges 0.73%/yr vs 0.20%/yr for HEQT.TO.
Performance
CIE.NEO vs. HEQT.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CIE.NEO achieves a 18.32% return, which is significantly higher than HEQT.TO's 14.13% return.
CIE.NEO
- 1D
- 0.42%
- 1M
- 6.88%
- YTD
- 18.32%
- 6M
- 20.08%
- 1Y
- 40.12%
- 3Y*
- 24.89%
- 5Y*
- 15.60%
- 10Y*
- 11.97%
HEQT.TO
- 1D
- 0.50%
- 1M
- 6.41%
- YTD
- 14.13%
- 6M
- 13.38%
- 1Y
- 32.17%
- 3Y*
- 25.88%
- 5Y*
- 16.89%
- 10Y*
- —
CIE.NEO vs. HEQT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
CIE.NEO iShares International Fundamental Common Class | 18.32% | 34.92% | 12.83% | 15.59% | -2.83% | 14.42% | 1.33% | 4.17% |
HEQT.TO Horizons All-Equity Asset Allocation ETF | 14.13% | 19.82% | 25.95% | 31.63% | -12.65% | 23.11% | 16.34% | 7.76% |
Correlation
The correlation between CIE.NEO and HEQT.TO is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Sep 19, 2019 | 0.61 |
The correlation between CIE.NEO and HEQT.TO shifts across timeframes, from 0.61 (all time) to 0.75 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CIE.NEO vs. HEQT.TO — Risk / Return Rank
CIE.NEO
HEQT.TO
CIE.NEO vs. HEQT.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares International Fundamental Common Class (CIE.NEO) and Horizons All-Equity Asset Allocation ETF (HEQT.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.
| CIE.NEO | HEQT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.51 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.63 | 3.81 | -0.18 |
| Martin ratioReturn relative to average drawdown | 15.02 | 16.80 | -1.78 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CIE.NEO | HEQT.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.89 | 2.70 | +0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.13 | 1.11 | +0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.66 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 1.06 | -0.62 |
Drawdowns
CIE.NEO vs. HEQT.TO - Drawdown Comparison
The maximum CIE.NEO drawdown since its inception was -40.08%, which is greater than HEQT.TO's maximum drawdown of -31.82%. Use the drawdown chart below to compare losses from any high point for CIE.NEO and HEQT.TO.
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Drawdown Indicators
| CIE.NEO | HEQT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.08% | -31.82% | -8.26% |
Max Drawdown (1Y)Largest decline over 1 year | -11.10% | -8.49% | -2.61% |
Max Drawdown (3Y)Largest decline over 3 years | -15.44% | -15.33% | -0.11% |
Max Drawdown (5Y)Largest decline over 5 years | -20.55% | -24.25% | +3.70% |
Max Drawdown (10Y)Largest decline over 10 years | -40.08% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.08% | +0.08% |
Average DrawdownAverage peak-to-trough decline | -7.13% | -4.28% | -2.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.68% | 1.92% | +0.76% |
Volatility
CIE.NEO vs. HEQT.TO - Volatility Comparison
iShares International Fundamental Common Class (CIE.NEO) has a higher volatility of 4.82% compared to Horizons All-Equity Asset Allocation ETF (HEQT.TO) at 3.48%. This indicates that CIE.NEO's price experiences larger fluctuations and is considered to be riskier than HEQT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CIE.NEO | HEQT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.82% | 3.48% | +1.34% |
Volatility (6M)Calculated over the trailing 6-month period | 11.56% | 9.68% | +1.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.94% | 11.96% | +1.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.85% | 15.33% | -1.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.18% | 17.16% | +1.02% |
CIE.NEO vs. HEQT.TO - Expense Ratio Comparison
CIE.NEO has a 0.73% expense ratio, which is higher than HEQT.TO's 0.20% expense ratio.
Dividends
CIE.NEO vs. HEQT.TO - Dividend Comparison
CIE.NEO's dividend yield for the trailing twelve months is around 2.11%, more than HEQT.TO's 1.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CIE.NEO iShares International Fundamental Common Class | 2.11% | 2.53% | 2.82% | 3.08% | 3.32% | 2.89% | 2.15% | 3.63% | 3.12% | 2.67% | 2.80% | 2.44% |
HEQT.TO Horizons All-Equity Asset Allocation ETF | 1.61% | 1.70% | 3.22% | 7.85% | 7.31% | 0.48% | 1.40% | 0.22% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CIE.NEO and HEQT.TO have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HEQT.TO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HEQT.TO is cheaper with a 0.20% expense ratio, compared with 0.73% for CIE.NEO.
They also come from different issuers: iShares and Horizons. Their fees differ too: 0.73% for CIE.NEO and 0.20% for HEQT.TO.
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