HAD.TO vs. HSAV.TO
HAD.TO (Global X Active Canadian Bond ETF) and HSAV.TO (Global X Cash Maximizer Corporate Class ETF) are both exchange-traded funds - HAD.TO is a Total Bond Market fund actively managed by Global X, while HSAV.TO is a Money Market fund actively managed by Global X. Both are actively managed. Over the past 5 years, HAD.TO returned 0.24%/yr vs 3.18%/yr for HSAV.TO. At a 0.00 correlation, their price movements are largely independent.
Performance
HAD.TO vs. HSAV.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with HAD.TO having a 0.97% return and HSAV.TO slightly higher at 1.00%.
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%
HSAV.TO
- 1D
- 0.03%
- 1M
- -0.11%
- 6M
- 1.19%
- YTD
- 1.00%
- 1Y
- 2.31%
- 3Y*
- 3.44%
- 5Y*
- 3.18%
- 10Y*
- —
HAD.TO vs. HSAV.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
HAD.TO Global X Active Canadian Bond ETF | 0.97% | 3.04% | 4.29% | 6.25% | -12.17% | -4.66% | 6.35% |
HSAV.TO Global X Cash Maximizer Corporate Class ETF | 1.00% | 2.58% | 4.24% | 5.04% | 2.79% | 0.66% | 0.71% |
Correlation
The correlation between HAD.TO and HSAV.TO is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2020 | 0.00 |
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Return for Risk
HAD.TO vs. HSAV.TO — Risk / Return Rank
HAD.TO
HSAV.TO
HAD.TO vs. HSAV.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 Global X Cash Maximizer Corporate Class ETF (HSAV.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 | HSAV.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.85 | ||
| Sortino ratioReturn per unit of downside risk | -1.23 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.31 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.32 | 3.92 | -2.60 |
| Martin ratioReturn relative to average drawdown | 3.48 | 9.99 | -6.51 |
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Drawdowns
HAD.TO vs. HSAV.TO - Drawdown Comparison
The maximum HAD.TO drawdown since its inception was -22.77%, which is greater than HSAV.TO's maximum drawdown of -2.18%. Use the drawdown chart below to compare losses from any high point for HAD.TO and HSAV.TO.
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Drawdown Indicators
| HAD.TO | HSAV.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.77% | -2.18% | -20.59% |
Max Drawdown (1Y)Largest decline over 1 year | -3.05% | -0.59% | -2.46% |
Max Drawdown (3Y)Largest decline over 3 years | -5.95% | -1.06% | -4.89% |
Max Drawdown (5Y)Largest decline over 5 years | -17.19% | -2.18% | -15.01% |
Max Drawdown (10Y)Largest decline over 10 years | -22.77% | — | — |
Current DrawdownCurrent decline from peak | -4.38% | -0.22% | -4.16% |
Average DrawdownAverage peak-to-trough decline | -5.45% | -0.19% | -5.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.15% | 0.23% | +0.92% |
Volatility
HAD.TO vs. HSAV.TO - Volatility Comparison
Global X Active Canadian Bond ETF (HAD.TO) has a higher volatility of 1.46% compared to Global X Cash Maximizer Corporate Class ETF (HSAV.TO) at 0.34%. This indicates that HAD.TO's price experiences larger fluctuations and is considered to be riskier than HSAV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HAD.TO | HSAV.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.46% | 0.34% | +1.12% |
Volatility (6M)Calculated over the trailing 6-month period | 3.61% | 0.97% | +2.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.98% | 1.41% | +3.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.06% | 1.78% | +5.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.90% | 1.57% | +7.33% |
Dividends
HAD.TO vs. HSAV.TO - Dividend Comparison
HAD.TO's dividend yield for the trailing twelve months is around 3.73%, while HSAV.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
HSAV.TO Global X Cash Maximizer Corporate Class ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HAD.TO and HSAV.TO have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HAD.TO is categorized as Total Bond Market, while HSAV.TO is Money Market.
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