HAD.TO vs. CAGG.TO
HAD.TO (Global X Active Canadian Bond ETF) and CAGG.TO (CI Canadian Aggregate Bond Index ETF) are both Total Bond Market funds. Over the past 5 years, HAD.TO returned 0.24%/yr vs 0.58%/yr for CAGG.TO. At a 0.43 correlation, their price movements are largely independent.
Performance
HAD.TO vs. CAGG.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HAD.TO achieves a 0.97% return, which is significantly lower than CAGG.TO's 1.35% return.
HAD.TO
- 1D
- 0.33%
- 1M
- -0.58%
- 6M
- 0.64%
- YTD
- 0.97%
- 1Y
- 4.00%
- 3Y*
- 4.26%
- 5Y*
- 0.24%
- 10Y*
- 1.37%
CAGG.TO
- 1D
- 0.32%
- 1M
- -0.45%
- 6M
- 0.76%
- YTD
- 1.35%
- 1Y
- 4.50%
- 3Y*
- 4.54%
- 5Y*
- 0.58%
- 10Y*
- —
HAD.TO vs. CAGG.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HAD.TO Global X Active Canadian Bond ETF | 0.97% | 3.04% | 4.29% | 6.25% | -12.17% | -4.66% | 9.99% | 5.62% | 2.59% | -1.05% |
CAGG.TO CI Canadian Aggregate Bond Index ETF | 1.35% | 2.45% | 4.41% | 7.28% | -11.36% | -3.39% | 7.32% | 9.39% | 0.30% | -0.53% |
Correlation
The correlation between HAD.TO and CAGG.TO is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2017 | 0.43 |
The correlation between HAD.TO and CAGG.TO shifts across timeframes, from 0.43 (all time) to 0.55 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
HAD.TO vs. CAGG.TO — Risk / Return Rank
HAD.TO
CAGG.TO
HAD.TO vs. CAGG.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Active Canadian Bond ETF (HAD.TO) and CI Canadian Aggregate Bond Index ETF (CAGG.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.
| HAD.TO | CAGG.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.21 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.32 | 1.65 | -0.34 |
| Martin ratioReturn relative to average drawdown | 3.48 | 4.11 | -0.63 |
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Drawdowns
HAD.TO vs. CAGG.TO - Drawdown Comparison
The maximum HAD.TO drawdown since its inception was -22.77%, which is greater than CAGG.TO's maximum drawdown of -18.77%. Use the drawdown chart below to compare losses from any high point for HAD.TO and CAGG.TO.
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Drawdown Indicators
| HAD.TO | CAGG.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.77% | -18.77% | -4.00% |
Max Drawdown (1Y)Largest decline over 1 year | -3.05% | -2.73% | -0.32% |
Max Drawdown (3Y)Largest decline over 3 years | -5.95% | -4.47% | -1.48% |
Max Drawdown (5Y)Largest decline over 5 years | -17.19% | -16.68% | -0.51% |
Max Drawdown (10Y)Largest decline over 10 years | -22.77% | — | — |
Current DrawdownCurrent decline from peak | -4.38% | -1.09% | -3.29% |
Average DrawdownAverage peak-to-trough decline | -5.45% | -5.48% | +0.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.15% | 1.10% | +0.05% |
Volatility
HAD.TO vs. CAGG.TO - Volatility Comparison
Global X Active Canadian Bond ETF (HAD.TO) and CI Canadian Aggregate Bond Index ETF (CAGG.TO) have volatilities of 1.46% and 1.41%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HAD.TO | CAGG.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.46% | 1.41% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 3.61% | 3.28% | +0.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.98% | 4.29% | +0.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.06% | 6.19% | +0.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.90% | 7.03% | +1.87% |
Dividends
HAD.TO vs. CAGG.TO - Dividend Comparison
HAD.TO's dividend yield for the trailing twelve months is around 3.73%, more than CAGG.TO's 3.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CAGG.TO CI Canadian Aggregate Bond Index ETF | 3.56% | 3.36% | 2.82% | 3.25% | 4.11% | 2.42% | 2.77% | 3.00% | 2.74% | 1.51% | 0.00% | 0.00% |
HAD.TO Global X Active Canadian Bond ETF | 3.73% | 3.46% | 3.14% | 3.04% | 3.12% | 2.09% | 2.04% | 2.29% | 2.64% | 2.85% | 2.96% | 2.61% |
Frequently Asked Questions
HAD.TO and CAGG.TO have a correlation of 0.55, 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: Global X and CI.
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