CYH.TO vs. HEQT.TO
CYH.TO (iShares Global Monthly Dividend Index ETF (CAD-Hedged)) and HEQT.TO (Horizons All-Equity Asset Allocation ETF) are both Global Equities funds. CYH.TO is passively managed, while HEQT.TO is actively managed. Over the past 5 years, CYH.TO returned 8.53%/yr vs 16.89%/yr for HEQT.TO. A 0.55 correlation means they provide meaningful diversification when combined. CYH.TO charges 0.66%/yr vs 0.20%/yr for HEQT.TO.
Performance
CYH.TO vs. HEQT.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CYH.TO achieves a 10.22% return, which is significantly lower than HEQT.TO's 14.13% return.
CYH.TO
- 1D
- 0.26%
- 1M
- -0.11%
- YTD
- 10.22%
- 6M
- 11.20%
- 1Y
- 23.68%
- 3Y*
- 16.48%
- 5Y*
- 8.53%
- 10Y*
- 8.21%
HEQT.TO
- 1D
- 0.50%
- 1M
- 6.41%
- YTD
- 14.13%
- 6M
- 13.38%
- 1Y
- 32.17%
- 3Y*
- 25.88%
- 5Y*
- 16.89%
- 10Y*
- —
CYH.TO vs. HEQT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
CYH.TO iShares Global Monthly Dividend Index ETF (CAD-Hedged) | 10.22% | 18.77% | 12.29% | 3.84% | -2.47% | 23.43% | -8.71% | 0.08% |
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 CYH.TO and HEQT.TO is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Sep 19, 2019 | 0.55 |
The correlation between CYH.TO and HEQT.TO has been stable across timeframes, ranging from 0.47 to 0.57 - a consistent structural relationship.
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Return for Risk
CYH.TO vs. HEQT.TO — Risk / Return Rank
CYH.TO
HEQT.TO
CYH.TO vs. HEQT.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Monthly Dividend Index ETF (CAD-Hedged) (CYH.TO) 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.
| CYH.TO | HEQT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.31 | ||
| Sortino ratioReturn per unit of downside risk | -0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.51 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 4.45 | 3.81 | +0.65 |
| Martin ratioReturn relative to average drawdown | 17.05 | 16.80 | +0.26 |
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
| CYH.TO | HEQT.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.39 | 2.70 | -0.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.63 | 1.11 | -0.47 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.49 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 1.06 | -0.73 |
Drawdowns
CYH.TO vs. HEQT.TO - Drawdown Comparison
The maximum CYH.TO drawdown since its inception was -61.48%, 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 CYH.TO and HEQT.TO.
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Drawdown Indicators
| CYH.TO | HEQT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.48% | -31.82% | -29.66% |
Max Drawdown (1Y)Largest decline over 1 year | -5.34% | -8.49% | +3.15% |
Max Drawdown (3Y)Largest decline over 3 years | -12.13% | -15.33% | +3.20% |
Max Drawdown (5Y)Largest decline over 5 years | -17.67% | -24.25% | +6.58% |
Max Drawdown (10Y)Largest decline over 10 years | -42.30% | — | — |
Current DrawdownCurrent decline from peak | -1.30% | -0.08% | -1.22% |
Average DrawdownAverage peak-to-trough decline | -9.94% | -4.28% | -5.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.39% | 1.92% | -0.53% |
Volatility
CYH.TO vs. HEQT.TO - Volatility Comparison
The current volatility for iShares Global Monthly Dividend Index ETF (CAD-Hedged) (CYH.TO) is 2.62%, while Horizons All-Equity Asset Allocation ETF (HEQT.TO) has a volatility of 3.48%. This indicates that CYH.TO experiences smaller price fluctuations and is considered to be less risky 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
| CYH.TO | HEQT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.62% | 3.48% | -0.86% |
Volatility (6M)Calculated over the trailing 6-month period | 7.13% | 9.68% | -2.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.96% | 11.96% | -2.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.58% | 15.33% | -1.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.02% | 17.16% | -0.14% |
CYH.TO vs. HEQT.TO - Expense Ratio Comparison
CYH.TO has a 0.66% expense ratio, which is higher than HEQT.TO's 0.20% expense ratio.
Dividends
CYH.TO vs. HEQT.TO - Dividend Comparison
CYH.TO's dividend yield for the trailing twelve months is around 3.33%, more than HEQT.TO's 1.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CYH.TO iShares Global Monthly Dividend Index ETF (CAD-Hedged) | 3.33% | 3.77% | 4.33% | 4.68% | 4.72% | 3.89% | 4.51% | 4.01% | 3.98% | 3.03% | 3.39% | 3.84% |
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
CYH.TO and HEQT.TO have a correlation of 0.47, 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 0.66% for CYH.TO.
They also come from different issuers: iShares and Horizons. Their fees differ too: 0.66% for CYH.TO and 0.20% for HEQT.TO.
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