ESGA.TO vs. HVOI.TO
ESGA.TO (BMO MSCI Canada Selection Equity Index ETF) and HVOI.TO (Harvest Low Volatility Canadian Equity Income ETF Class A) are both Canada Equities funds. Over the past year, ESGA.TO returned 26.29% vs 19.24% for HVOI.TO. A 0.58 correlation means they provide meaningful diversification when combined.
Performance
ESGA.TO vs. HVOI.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ESGA.TO achieves a 9.26% return, which is significantly lower than HVOI.TO's 10.57% return.
ESGA.TO
- 1D
- -0.04%
- 1M
- 1.72%
- 6M
- 5.14%
- YTD
- 9.26%
- 1Y
- 26.29%
- 3Y*
- 23.04%
- 5Y*
- 12.62%
- 10Y*
- —
- ALL TIME*
- 13.39%
HVOI.TO
- 1D
- -0.76%
- 1M
- 2.71%
- 6M
- 9.02%
- YTD
- 10.57%
- 1Y
- 19.24%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 21.37%
ESGA.TO vs. HVOI.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ESGA.TO BMO MSCI Canada Selection Equity Index ETF | 9.26% | 35.32% |
HVOI.TO Harvest Low Volatility Canadian Equity Income ETF Class A | 10.57% | 15.49% |
Correlation
The correlation between ESGA.TO and HVOI.TO is 0.59, 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 | 0.59 |
Correlation (All Time) Calculated using the full available price history since Apr 15, 2025 | 0.58 |
The correlation between ESGA.TO and HVOI.TO has been stable across timeframes, ranging from 0.58 to 0.59 - a consistent structural relationship.
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Return for Risk
ESGA.TO vs. HVOI.TO — Risk / Return Rank
ESGA.TO
HVOI.TO
ESGA.TO vs. HVOI.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 Harvest Low Volatility Canadian Equity Income ETF Class A (HVOI.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 | HVOI.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.56 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.41 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.10 | 2.87 | +0.22 |
| Martin ratioReturn relative to average drawdown | 11.09 | 11.51 | -0.42 |
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Drawdowns
ESGA.TO vs. HVOI.TO - Drawdown Comparison
The maximum ESGA.TO drawdown since its inception was -32.68%, which is greater than HVOI.TO's maximum drawdown of -6.72%. Use the drawdown chart below to compare losses from any high point for ESGA.TO and HVOI.TO.
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Drawdown Indicators
| ESGA.TO | HVOI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.68% | -6.72% | -25.96% |
Max Drawdown (1Y)Largest decline over 1 year | -8.51% | -6.72% | -1.79% |
Max Drawdown (3Y)Largest decline over 3 years | -12.94% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -23.40% | — | — |
Current DrawdownCurrent decline from peak | -0.41% | -0.76% | +0.35% |
Average DrawdownAverage peak-to-trough decline | -6.29% | -0.89% | -5.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.37% | 1.67% | +0.70% |
Volatility
ESGA.TO vs. HVOI.TO - Volatility Comparison
BMO MSCI Canada Selection Equity Index ETF (ESGA.TO) has a higher volatility of 2.32% compared to Harvest Low Volatility Canadian Equity Income ETF Class A (HVOI.TO) at 2.19%. This indicates that ESGA.TO's price experiences larger fluctuations and is considered to be riskier than HVOI.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 | HVOI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.32% | 2.19% | +0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 10.52% | 7.10% | +3.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.65% | 8.75% | +4.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.83% | 8.33% | +5.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.19% | 8.33% | +7.86% |
Dividends
ESGA.TO vs. HVOI.TO - Dividend Comparison
ESGA.TO's dividend yield for the trailing twelve months is around 1.85%, less than HVOI.TO's 6.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
ESGA.TO BMO MSCI Canada Selection Equity Index ETF | 1.85% | 1.93% | 2.50% | 2.98% | 3.42% | 2.66% | 3.23% |
HVOI.TO Harvest Low Volatility Canadian Equity Income ETF Class A | 6.69% | 4.76% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ESGA.TO and HVOI.TO have a correlation of 0.59, 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 Harvest.
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