ESGA.TO vs. HCA.TO
ESGA.TO (BMO MSCI Canada Selection Equity Index ETF) and HCA.TO (Hamilton Canadian Bank Mean Reversion Index ETF) are both Canada Equities funds. Over the past 5 years, ESGA.TO returned 12.40%/yr vs 20.10%/yr for HCA.TO. A 0.55 correlation means they provide meaningful diversification when combined.
Performance
ESGA.TO vs. HCA.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ESGA.TO achieves a 8.01% return, which is significantly lower than HCA.TO's 34.18% return.
ESGA.TO
- 1D
- 0.16%
- 1M
- 2.81%
- YTD
- 8.01%
- 6M
- 7.25%
- 1Y
- 28.36%
- 3Y*
- 22.99%
- 5Y*
- 12.40%
- 10Y*
- —
HCA.TO
- 1D
- 0.62%
- 1M
- 11.87%
- YTD
- 34.18%
- 6M
- 33.80%
- 1Y
- 74.82%
- 3Y*
- 35.93%
- 5Y*
- 20.10%
- 10Y*
- —
ESGA.TO vs. HCA.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ESGA.TO BMO MSCI Canada Selection Equity Index ETF | 8.01% | 32.44% | 21.41% | 13.92% | -15.59% | 24.90% | 7.30% |
HCA.TO Hamilton Canadian Bank Mean Reversion Index ETF | 34.18% | 46.37% | 17.62% | 12.03% | -13.32% | 35.11% | 32.83% |
Correlation
The correlation between ESGA.TO and HCA.TO is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Jan 15, 2020 | 0.55 |
The correlation between ESGA.TO and HCA.TO has been stable across timeframes, ranging from 0.54 to 0.62 - a consistent structural relationship.
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Return for Risk
ESGA.TO vs. HCA.TO — Risk / Return Rank
ESGA.TO
HCA.TO
ESGA.TO vs. HCA.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO MSCI Canada Selection Equity Index ETF (ESGA.TO) 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.
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.
| ESGA.TO | HCA.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.65 | ||
| Sortino ratioReturn per unit of downside risk | -5.35 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 2.13 | -0.76 |
| Calmar ratioReturn relative to maximum drawdown | 3.35 | 8.83 | -5.48 |
| Martin ratioReturn relative to average drawdown | 11.99 | 40.06 | -28.07 |
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Drawdowns
ESGA.TO vs. HCA.TO - Drawdown Comparison
The maximum ESGA.TO drawdown since its inception was -32.68%, smaller than the maximum HCA.TO drawdown of -37.89%. Use the drawdown chart below to compare losses from any high point for ESGA.TO and HCA.TO.
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Drawdown Indicators
| ESGA.TO | HCA.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.68% | -37.89% | +5.21% |
Max Drawdown (1Y)Largest decline over 1 year | -8.51% | -8.52% | +0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -12.94% | -15.52% | +2.58% |
Max Drawdown (5Y)Largest decline over 5 years | -23.40% | -27.97% | +4.57% |
Current DrawdownCurrent decline from peak | -0.26% | 0.00% | -0.26% |
Average DrawdownAverage peak-to-trough decline | -6.34% | -7.68% | +1.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.37% | 1.87% | +0.50% |
Volatility
ESGA.TO vs. HCA.TO - Volatility Comparison
BMO MSCI Canada Selection Equity Index ETF (ESGA.TO) has a higher volatility of 3.14% compared to Hamilton Canadian Bank Mean Reversion Index ETF (HCA.TO) at 2.77%. This indicates that ESGA.TO's price experiences larger fluctuations and is considered to be riskier 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
| ESGA.TO | HCA.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.14% | 2.77% | +0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 10.67% | 11.20% | -0.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.70% | 13.14% | +0.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.84% | 14.09% | -0.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.23% | 22.81% | -6.58% |
Dividends
ESGA.TO vs. HCA.TO - Dividend Comparison
ESGA.TO's dividend yield for the trailing twelve months is around 1.87%, less than HCA.TO's 2.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
ESGA.TO BMO MSCI Canada Selection Equity Index ETF | 1.87% | 1.93% | 2.50% | 2.98% | 3.42% | 2.66% | 3.23% |
HCA.TO Hamilton Canadian Bank Mean Reversion Index ETF | 2.62% | 3.44% | 4.42% | 8.53% | 5.45% | 3.56% | 3.54% |
Frequently Asked Questions
ESGA.TO and HCA.TO have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: BMO and Hamilton.
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