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HAL.TO vs. HCA.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HAL.TO vs. HCA.TO

Last updated Jun 4, 2026

HAL.TO (Global X Active Canadian Dividend ETF) and HCA.TO (Hamilton Canadian Bank Mean Reversion Index ETF) are both Canada Equities funds. HAL.TO is actively managed, while HCA.TO is passively managed. Over the past 5 years, HAL.TO returned 14.92%/yr vs 28.00%/yr for HCA.TO. A 0.57 correlation means they provide meaningful diversification when combined. HAL.TO charges 0.67%/yr vs 0.45%/yr for HCA.TO.

Performance

HAL.TO vs. HCA.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Active Canadian Dividend ETF (HAL.TO) and Hamilton Canadian Bank Mean Reversion Index ETF (HCA.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, HAL.TO achieves a 17.28% return, which is significantly lower than HCA.TO's 19.58% return.

HAL.TO

1D
1.49%
1M
3.85%
YTD
17.28%
6M
20.97%
1Y
42.29%
3Y*
21.26%
5Y*
14.92%
10Y*
11.69%

HCA.TO

1D
0.00%
1M
5.81%
YTD
19.58%
6M
24.76%
1Y
61.56%
3Y*
43.51%
5Y*
28.00%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

HAL.TO vs. HCA.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
HAL.TO
Global X Active Canadian Dividend ETF		17.28%24.60%21.69%-0.73%3.43%21.17%12.65%
HCA.TO
Hamilton Canadian Bank Mean Reversion Index ETF		19.58%51.09%33.32%26.95%-4.34%48.13%23.46%

Correlation

The correlation between HAL.TO and HCA.TO is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.49

Correlation (3Y)
Calculated over the trailing 3-year period

0.53

Correlation (5Y)
Calculated over the trailing 5-year period

0.61

Correlation (All Time)
Calculated using the full available price history since Jun 30, 2020

0.57

The correlation between HAL.TO and HCA.TO shifts across timeframes, from 0.49 (1 year) to 0.61 (5 years), reflecting how their relationship changes across market environments.

HAL.TO vs. HCA.TO - Sectors Allocation Comparison

Sectors
HAL.TO
HCA.TO

Energy

25.2%

-

Financial Services

24.9%
100.0%

Industrials

15.3%

-

Basic Materials

12.9%

-

Utilities

12.6%

-

Consumer Defensive

4.0%

-

Real Estate

3.2%

-

Consumer Cyclical

1.8%

-

Communication Services

-

-

Healthcare

-

-

Technology

-

-

Energy

HAL.TO
25.2%
HCA.TO

-

Financial Services

HAL.TO
24.9%
HCA.TO
100.0%

Industrials

HAL.TO
15.3%
HCA.TO

-

Basic Materials

HAL.TO
12.9%
HCA.TO

-

Utilities

HAL.TO
12.6%
HCA.TO

-

Consumer Defensive

HAL.TO
4.0%
HCA.TO

-

Real Estate

HAL.TO
3.2%
HCA.TO

-

Consumer Cyclical

HAL.TO
1.8%
HCA.TO

-

Communication Services

HAL.TO

-

HCA.TO

-

Healthcare

HAL.TO

-

HCA.TO

-

Technology

HAL.TO

-

HCA.TO

-

Compare stocks, funds, or ETFs

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Global X Active Canadian Dividend ETF

Hamilton Canadian Bank Mean Reversion Index ETF

Often compared with HAL.TO:
HAL.TO vs. HXH.TOHAL.TO vs. CASH.TOHAL.TO vs. CFOU.TOHAL.TO vs. CBIL.TOHAL.TO vs. HBNK.TOHAL.TO vs. XCS.TOHAL.TO vs. HEWB.TO
Often compared with HCA.TO:
HCA.TO vs. HCAL.TOHCA.TO vs. HEB.TOHCA.TO vs. VCE.TOHCA.TO vs. PMIF.TOHCA.TO vs. XIC.TOHCA.TO vs. LMAX.TOHCA.TO vs. FCCM.NEO

Return for Risk

HAL.TO vs. HCA.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HAL.TO
HAL.TO Risk / Return Rank: 9696
Overall Rank
HAL.TO Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
HAL.TO Sortino Ratio Rank: 9797
Sortino Ratio Rank
HAL.TO Omega Ratio Rank: 9797
Omega Ratio Rank
HAL.TO Calmar Ratio Rank: 9595
Calmar Ratio Rank
HAL.TO Martin Ratio Rank: 9696
Martin Ratio Rank
HCA.TO
HCA.TO Risk / Return Rank: 9696
Overall Rank
HCA.TO Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
HCA.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
HCA.TO Omega Ratio Rank: 9797
Omega Ratio Rank
HCA.TO Calmar Ratio Rank: 9494
Calmar Ratio Rank
HCA.TO Martin Ratio Rank: 9595
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HAL.TO vs. HCA.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Active Canadian Dividend ETF (HAL.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.

HAL.TOHCA.TODifference
Sharpe ratioReturn per unit of total volatility
4.46
4.82

-0.36

Sortino ratioReturn per unit of downside risk
6.04
7.08

-1.04

Omega ratioGain probability vs. loss probability

1.93

1.97

-0.04

Calmar ratioReturn relative to maximum drawdown

8.26

7.27

+0.99

Martin ratioReturn relative to average drawdown

37.67

32.98

+4.69

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HAL.TO vs. HCA.TO - Sharpe Ratio Comparison

The current HAL.TO Sharpe Ratio is 4.46, which is comparable to the HCA.TO Sharpe Ratio of 4.82. The chart below compares the historical Sharpe Ratios of HAL.TO and HCA.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

HAL.TOHCA.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

4.46

4.82

-0.36

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.21

1.87

-0.65

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.79

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.79

2.18

-1.39

Drawdowns

HAL.TO vs. HCA.TO - Drawdown Comparison

The maximum HAL.TO drawdown since its inception was -39.70%, which is greater than HCA.TO's maximum drawdown of -17.82%. Use the drawdown chart below to compare losses from any high point for HAL.TO and HCA.TO.

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Drawdown Indicators

HAL.TOHCA.TODifference

Max Drawdown

Largest peak-to-trough decline

-39.70%

-17.82%

-21.88%

Max Drawdown (1Y)

Largest decline over 1 year

-5.15%

-8.52%

+3.37%

Max Drawdown (3Y)

Largest decline over 3 years

-12.44%

-12.51%

+0.07%

Max Drawdown (5Y)

Largest decline over 5 years

-16.43%

-17.82%

+1.39%

Max Drawdown (10Y)

Largest decline over 10 years

-39.70%

—

—

Current Drawdown

Current decline from peak

0.00%

-1.28%

+1.28%

Average Drawdown

Average peak-to-trough decline

-4.19%

-3.35%

-0.84%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.13%

1.87%

-0.74%

Volatility

HAL.TO vs. HCA.TO - Volatility Comparison

The current volatility for Global X Active Canadian Dividend ETF (HAL.TO) is 2.48%, while Hamilton Canadian Bank Mean Reversion Index ETF (HCA.TO) has a volatility of 4.15%. This indicates that HAL.TO experiences smaller price fluctuations and is considered to be less risky 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

HAL.TOHCA.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.48%

4.15%

-1.67%

Volatility (6M)

Calculated over the trailing 6-month period

7.85%

11.14%

-3.29%

Volatility (1Y)

Calculated over the trailing 1-year period

9.53%

12.85%

-3.32%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.36%

15.09%

-2.73%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.85%

15.09%

-0.24%

HAL.TO vs. HCA.TO - Expense Ratio Comparison

HAL.TO has a 0.67% expense ratio, which is higher than HCA.TO's 0.45% expense ratio.

Dividends

HAL.TO vs. HCA.TO - Dividend Comparison

HAL.TO's dividend yield for the trailing twelve months is around 1.97%, less than HCA.TO's 2.92% yield.

PositionTTM20252024202320222021202020192018201720162015
HAL.TO
Global X Active Canadian Dividend ETF		1.97%2.37%2.79%3.60%4.84%2.99%3.56%2.96%3.43%3.17%2.84%3.19%
HCA.TO
Hamilton Canadian Bank Mean Reversion Index ETF		2.92%5.59%15.89%20.26%16.23%11.79%3.54%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

HAL.TO and HCA.TO have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, HCA.TO is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

HCA.TO is cheaper with a 0.45% expense ratio, compared with 0.67% for HAL.TO.

They also come from different issuers: Global X and Hamilton. Their fees differ too: 0.67% for HAL.TO and 0.45% for HCA.TO.

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