CRQ.NEO vs. HCA.TO
CRQ.NEO (iShares Canadian Fundamental Index ETF) and HCA.TO (Hamilton Canadian Bank Mean Reversion Index ETF) are both Canada Equities funds - CRQ.NEO tracks the FTSE RAFI Canada Index while HCA.TO tracks the Solactive Canadian Bank Mean Reversion Index. Both are passively managed. Over the past 5 years, CRQ.NEO returned 17.85%/yr vs 28.89%/yr for HCA.TO. A 0.64 correlation means they provide meaningful diversification when combined. CRQ.NEO charges 0.72%/yr vs 0.45%/yr for HCA.TO.
Performance
CRQ.NEO vs. HCA.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CRQ.NEO achieves a 17.22% return, which is significantly lower than HCA.TO's 23.36% return.
CRQ.NEO
- 1D
- 1.11%
- 1M
- 4.70%
- YTD
- 17.22%
- 6M
- 20.22%
- 1Y
- 44.45%
- 3Y*
- 26.75%
- 5Y*
- 17.85%
- 10Y*
- 13.46%
HCA.TO
- 1D
- 1.32%
- 1M
- 8.67%
- YTD
- 23.36%
- 6M
- 26.59%
- 1Y
- 66.74%
- 3Y*
- 45.48%
- 5Y*
- 28.89%
- 10Y*
- —
CRQ.NEO vs. HCA.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CRQ.NEO iShares Canadian Fundamental Index ETF | 17.22% | 31.87% | 22.17% | 9.76% | 0.89% | 33.95% | 19.82% |
HCA.TO Hamilton Canadian Bank Mean Reversion Index ETF | 23.36% | 51.09% | 33.32% | 26.95% | -4.34% | 48.13% | 23.46% |
Correlation
The correlation between CRQ.NEO and HCA.TO is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2020 | 0.64 |
The correlation between CRQ.NEO and HCA.TO shifts across timeframes, from 0.49 (1 year) to 0.65 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
CRQ.NEO vs. HCA.TO — Risk / Return Rank
CRQ.NEO
HCA.TO
CRQ.NEO vs. HCA.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Canadian Fundamental Index ETF (CRQ.NEO) and Hamilton Canadian Bank Mean Reversion Index ETF (HCA.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.
| CRQ.NEO | HCA.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.61 | ||
| Sortino ratioReturn per unit of downside risk | -1.18 | ||
| Omega ratioGain probability vs. loss probability | 2.03 | 2.03 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 6.53 | 7.87 | -1.34 |
| Martin ratioReturn relative to average drawdown | 31.92 | 35.72 | -3.81 |
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
| CRQ.NEO | HCA.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.55 | 5.16 | -0.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.45 | 1.92 | -0.48 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.83 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.69 | 2.22 | -1.53 |
Drawdowns
CRQ.NEO vs. HCA.TO - Drawdown Comparison
The maximum CRQ.NEO drawdown since its inception was -41.75%, which is greater than HCA.TO's maximum drawdown of -17.82%. Use the drawdown chart below to compare losses from any high point for CRQ.NEO and HCA.TO.
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Drawdown Indicators
| CRQ.NEO | HCA.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.75% | -17.82% | -23.93% |
Max Drawdown (1Y)Largest decline over 1 year | -6.84% | -8.52% | +1.68% |
Max Drawdown (3Y)Largest decline over 3 years | -11.70% | -12.51% | +0.81% |
Max Drawdown (5Y)Largest decline over 5 years | -15.82% | -17.82% | +2.00% |
Max Drawdown (10Y)Largest decline over 10 years | -41.75% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -5.62% | -3.35% | -2.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.40% | 1.87% | -0.47% |
Volatility
CRQ.NEO vs. HCA.TO - Volatility Comparison
The current volatility for iShares Canadian Fundamental Index ETF (CRQ.NEO) is 3.13%, while Hamilton Canadian Bank Mean Reversion Index ETF (HCA.TO) has a volatility of 4.21%. This indicates that CRQ.NEO experiences smaller price fluctuations and is considered to be less risky than HCA.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CRQ.NEO | HCA.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.13% | 4.21% | -1.08% |
Volatility (6M)Calculated over the trailing 6-month period | 8.07% | 11.28% | -3.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.81% | 12.99% | -3.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.42% | 15.12% | -2.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.27% | 15.10% | +1.17% |
CRQ.NEO vs. HCA.TO - Expense Ratio Comparison
CRQ.NEO has a 0.72% expense ratio, which is higher than HCA.TO's 0.45% expense ratio.
Dividends
CRQ.NEO vs. HCA.TO - Dividend Comparison
CRQ.NEO's dividend yield for the trailing twelve months is around 1.87%, less than HCA.TO's 2.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CRQ.NEO iShares Canadian Fundamental Index ETF | 1.87% | 2.18% | 2.72% | 2.97% | 2.90% | 2.17% | 2.98% | 2.71% | 2.46% | 1.91% | 1.89% | 3.09% |
HCA.TO Hamilton Canadian Bank Mean Reversion Index ETF | 2.83% | 5.59% | 15.89% | 20.26% | 16.23% | 11.79% | 3.54% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CRQ.NEO and HCA.TO have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HCA.TO is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HCA.TO is cheaper with a 0.45% expense ratio, compared with 0.72% for CRQ.NEO.
CRQ.NEO tracks FTSE RAFI Canada Index, while HCA.TO tracks Solactive Canadian Bank Mean Reversion Index. They also come from different issuers: iShares and Hamilton. Their fees differ too: 0.72% for CRQ.NEO and 0.45% for HCA.TO.
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