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HAZ.TO vs. XAW.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HAZ.TO vs. XAW.TO

Last updated Jul 14, 2026
Documentation

HAZ.TO (Global X Active Global Dividend ETF) and XAW.TO (iShares Core MSCI All Country World ex Canada Index ETF) are both exchange-traded funds - HAZ.TO is a Global Equity Income fund actively managed by Global X, while XAW.TO is a Global Equities fund tracking the MSCI ACWI ex Canada IMI Index. HAZ.TO is actively managed, while XAW.TO is passively managed. Over the past 10 years, HAZ.TO returned 11.19%/yr vs 13.05%/yr for XAW.TO. A 0.76 correlation means they provide meaningful diversification when combined.

Performance

HAZ.TO vs. XAW.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Active Global Dividend ETF (HAZ.TO) and iShares Core MSCI All Country World ex Canada Index ETF (XAW.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both stocks are quite close, with HAZ.TO having a 14.73% return and XAW.TO slightly lower at 14.66%. Over the past 10 years, HAZ.TO has underperformed XAW.TO with an annualized return of 11.19%, while XAW.TO has yielded a comparatively higher 13.05% annualized return.

HAZ.TO

1D
-0.75%
1M
3.11%
6M
11.87%
YTD
14.73%
1Y
21.89%
3Y*
18.58%
5Y*
13.67%
10Y*
11.19%

XAW.TO

1D
-1.14%
1M
1.31%
6M
10.22%
YTD
14.66%
1Y
26.58%
3Y*
20.81%
5Y*
13.17%
10Y*
13.05%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HAZ.TO vs. XAW.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HAZ.TO
Global X Active Global Dividend ETF		14.73%7.49%25.38%17.61%-8.86%27.34%7.50%15.27%-4.50%12.50%
XAW.TO
iShares Core MSCI All Country World ex Canada Index ETF		14.66%15.87%26.31%18.45%-11.83%18.39%12.37%19.82%-2.29%16.12%

Correlation

The correlation between HAZ.TO and XAW.TO is 0.77, 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

0.77

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

0.79

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

0.76

Correlation (10Y)
Calculated over the trailing 10-year period

0.74

Correlation (All Time)
Calculated using the full available price history since Feb 17, 2015

0.76

The correlation between HAZ.TO and XAW.TO has been stable across timeframes, ranging from 0.74 to 0.79 - a consistent structural relationship.

HAZ.TO vs. XAW.TO - Sectors Allocation Comparison

Sectors
HAZ.TO
XAW.TO

Technology

28.4%
31.5%

Financial Services

17.0%
14.6%

Energy

12.0%
3.4%

Industrials

9.8%
11.5%

Healthcare

8.6%
8.1%

Communication Services

7.3%
8.3%

Consumer Cyclical

6.4%
9.5%

Consumer Defensive

6.0%
4.7%

Real Estate

2.7%
2.4%

Utilities

1.1%
2.5%

Basic Materials

0.7%
3.6%

Technology

HAZ.TO
28.4%
XAW.TO
31.5%

Financial Services

HAZ.TO
17.0%
XAW.TO
14.6%

Energy

HAZ.TO
12.0%
XAW.TO
3.4%

Industrials

HAZ.TO
9.8%
XAW.TO
11.5%

Healthcare

HAZ.TO
8.6%
XAW.TO
8.1%

Communication Services

HAZ.TO
7.3%
XAW.TO
8.3%

Consumer Cyclical

HAZ.TO
6.4%
XAW.TO
9.5%

Consumer Defensive

HAZ.TO
6.0%
XAW.TO
4.7%

Real Estate

HAZ.TO
2.7%
XAW.TO
2.4%

Utilities

HAZ.TO
1.1%
XAW.TO
2.5%

Basic Materials

HAZ.TO
0.7%
XAW.TO
3.6%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Global X Active Global Dividend ETF

iShares Core MSCI All Country World ex Canada Index ETF

Often compared with HAZ.TO:
HAZ.TO vs. TGED.TOHAZ.TO vs. ZDH.TOHAZ.TO vs. TQGD.TOHAZ.TO vs. CASH.TOHAZ.TO vs. PAYG.TOHAZ.TO vs. QQCL.TOHAZ.TO vs. HBNK.TO
Often compared with XAW.TO:
XAW.TO vs. XEQT.TOXAW.TO vs. VXC.TOXAW.TO vs. VEQT.TOXAW.TO vs. XUU.TOXAW.TO vs. XIC.TOXAW.TO vs. XGRO.TOXAW.TO vs. VT

Return for Risk

HAZ.TO vs. XAW.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HAZ.TO
HAZ.TO Risk / Return Rank: 8585
Overall Rank
HAZ.TO Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
HAZ.TO Sortino Ratio Rank: 8787
Sortino Ratio Rank
HAZ.TO Omega Ratio Rank: 8181
Omega Ratio Rank
HAZ.TO Calmar Ratio Rank: 8888
Calmar Ratio Rank
HAZ.TO Martin Ratio Rank: 8686
Martin Ratio Rank
XAW.TO
XAW.TO Risk / Return Rank: 8181
Overall Rank
XAW.TO Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
XAW.TO Sortino Ratio Rank: 8080
Sortino Ratio Rank
XAW.TO Omega Ratio Rank: 8282
Omega Ratio Rank
XAW.TO Calmar Ratio Rank: 7979
Calmar Ratio Rank
XAW.TO Martin Ratio Rank: 8383
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.

HAZ.TO vs. XAW.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Active Global Dividend ETF (HAZ.TO) and iShares Core MSCI All Country World ex Canada Index ETF (XAW.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.

HAZ.TOXAW.TODifference
Sharpe ratioReturn per unit of total volatility
2.14
2.03

+0.11

Sortino ratioReturn per unit of downside risk
3.11
2.83

+0.28

Omega ratioGain probability vs. loss probability

1.37

1.38

-0.01

Calmar ratioReturn relative to maximum drawdown

4.01

3.27

+0.74

Martin ratioReturn relative to average drawdown

14.01

12.91

+1.10

HAZ.TO vs. XAW.TO - Sharpe Ratio Comparison

The current HAZ.TO Sharpe Ratio is 2.14, which is comparable to the XAW.TO Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of HAZ.TO and XAW.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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Drawdowns

HAZ.TO vs. XAW.TO - Drawdown Comparison

The maximum HAZ.TO drawdown since its inception was -25.55%, smaller than the maximum XAW.TO drawdown of -27.32%. Use the drawdown chart below to compare losses from any high point for HAZ.TO and XAW.TO.

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Drawdown Indicators

HAZ.TOXAW.TODifference

Max Drawdown

Largest peak-to-trough decline

-25.55%

-27.32%

+1.77%

Max Drawdown (1Y)

Largest decline over 1 year

-5.48%

-8.16%

+2.68%

Max Drawdown (3Y)

Largest decline over 3 years

-14.09%

-16.66%

+2.57%

Max Drawdown (5Y)

Largest decline over 5 years

-18.07%

-21.02%

+2.95%

Max Drawdown (10Y)

Largest decline over 10 years

-25.55%

-27.32%

+1.77%

Current Drawdown

Current decline from peak

-0.75%

-1.65%

+0.90%

Average Drawdown

Average peak-to-trough decline

-3.23%

-3.88%

+0.65%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.57%

2.06%

-0.49%

Volatility

HAZ.TO vs. XAW.TO - Volatility Comparison

The current volatility for Global X Active Global Dividend ETF (HAZ.TO) is 2.47%, while iShares Core MSCI All Country World ex Canada Index ETF (XAW.TO) has a volatility of 4.00%. This indicates that HAZ.TO experiences smaller price fluctuations and is considered to be less risky than XAW.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HAZ.TOXAW.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.47%

4.00%

-1.53%

Volatility (6M)

Calculated over the trailing 6-month period

7.83%

11.00%

-3.17%

Volatility (1Y)

Calculated over the trailing 1-year period

10.29%

13.17%

-2.88%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.15%

13.76%

-1.61%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.28%

15.09%

-0.81%

Dividends

HAZ.TO vs. XAW.TO - Dividend Comparison

HAZ.TO's dividend yield for the trailing twelve months is around 1.25%, more than XAW.TO's 1.21% yield.

PositionTTM20252024202320222021202020192018201720162015
HAZ.TO
Global X Active Global Dividend ETF		1.25%1.48%0.96%1.78%3.40%1.71%1.93%2.27%2.31%2.20%2.40%2.51%
XAW.TO
iShares Core MSCI All Country World ex Canada Index ETF		1.21%1.33%1.61%1.71%1.79%1.77%1.49%2.02%2.28%1.94%1.79%1.81%

Frequently Asked Questions

HAZ.TO and XAW.TO have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

HAZ.TO is categorized as Global Equity Income, while XAW.TO is Global Equities. They also come from different issuers: Global X and iShares.

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