HAL.TO vs. XCV.TO
HAL.TO (Global X Active Canadian Dividend ETF) and XCV.TO (iShares Canadian Value Index ETF) are both Canada Equities funds. HAL.TO is actively managed, while XCV.TO is passively managed. Over the past 10 years, HAL.TO returned 11.69%/yr vs 13.20%/yr for XCV.TO. A 0.57 correlation means they provide meaningful diversification when combined. HAL.TO charges 0.67%/yr vs 0.55%/yr for XCV.TO.
Performance
HAL.TO vs. XCV.TO - Performance Comparison
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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 XCV.TO's 19.17% return. Over the past 10 years, HAL.TO has underperformed XCV.TO with an annualized return of 11.69%, while XCV.TO has yielded a comparatively higher 13.20% annualized 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%
XCV.TO
- 1D
- -0.02%
- 1M
- 4.70%
- YTD
- 19.17%
- 6M
- 19.26%
- 1Y
- 44.26%
- 3Y*
- 27.30%
- 5Y*
- 17.83%
- 10Y*
- 13.20%
HAL.TO vs. XCV.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HAL.TO Global X Active Canadian Dividend ETF | 17.28% | 24.60% | 21.69% | -0.73% | 3.43% | 21.17% | -2.64% | 25.04% | -6.22% | 7.10% |
XCV.TO iShares Canadian Value Index ETF | 19.17% | 32.17% | 21.26% | 9.47% | 1.87% | 32.71% | -2.56% | 18.02% | -11.15% | 8.75% |
Correlation
The correlation between HAL.TO and XCV.TO is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2010 | 0.57 |
The correlation between HAL.TO and XCV.TO shifts across timeframes, from 0.57 (all time) to 0.78 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
HAL.TO vs. XCV.TO — Risk / Return Rank
HAL.TO
XCV.TO
HAL.TO vs. XCV.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 iShares Canadian Value Index ETF (XCV.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.TO | XCV.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.51 | ||
| Sortino ratioReturn per unit of downside risk | -0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.93 | 2.03 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 8.26 | 11.53 | -3.27 |
| Martin ratioReturn relative to average drawdown | 37.67 | 43.47 | -5.79 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HAL.TO | XCV.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.46 | 4.97 | -0.51 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.21 | 1.39 | -0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.79 | 0.85 | -0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.79 | 0.54 | +0.25 |
Drawdowns
HAL.TO vs. XCV.TO - Drawdown Comparison
The maximum HAL.TO drawdown since its inception was -39.70%, smaller than the maximum XCV.TO drawdown of -52.49%. Use the drawdown chart below to compare losses from any high point for HAL.TO and XCV.TO.
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Drawdown Indicators
| HAL.TO | XCV.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.70% | -52.49% | +12.79% |
Max Drawdown (1Y)Largest decline over 1 year | -5.15% | -3.86% | -1.29% |
Max Drawdown (3Y)Largest decline over 3 years | -12.44% | -9.71% | -2.73% |
Max Drawdown (5Y)Largest decline over 5 years | -16.43% | -18.08% | +1.65% |
Max Drawdown (10Y)Largest decline over 10 years | -39.70% | -41.18% | +1.48% |
Current DrawdownCurrent decline from peak | 0.00% | -0.89% | +0.89% |
Average DrawdownAverage peak-to-trough decline | -4.19% | -6.67% | +2.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.13% | 1.02% | +0.11% |
Volatility
HAL.TO vs. XCV.TO - Volatility Comparison
The current volatility for Global X Active Canadian Dividend ETF (HAL.TO) is 2.48%, while iShares Canadian Value Index ETF (XCV.TO) has a volatility of 3.27%. This indicates that HAL.TO experiences smaller price fluctuations and is considered to be less risky than XCV.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.TO | XCV.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.48% | 3.27% | -0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 7.85% | 7.65% | +0.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.53% | 8.96% | +0.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.36% | 12.87% | -0.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.85% | 15.54% | -0.69% |
HAL.TO vs. XCV.TO - Expense Ratio Comparison
HAL.TO has a 0.67% expense ratio, which is higher than XCV.TO's 0.55% expense ratio.
Dividends
HAL.TO vs. XCV.TO - Dividend Comparison
HAL.TO's dividend yield for the trailing twelve months is around 1.97%, less than XCV.TO's 2.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
XCV.TO iShares Canadian Value Index ETF | 2.29% | 2.71% | 3.72% | 3.88% | 3.18% | 2.11% | 3.35% | 3.06% | 3.13% | 2.40% | 2.50% | 3.14% |
Frequently Asked Questions
HAL.TO and XCV.TO have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XCV.TO is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XCV.TO is cheaper with a 0.55% expense ratio, compared with 0.67% for HAL.TO.
They also come from different issuers: Global X and iShares. Their fees differ too: 0.67% for HAL.TO and 0.55% for XCV.TO.
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