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HBA.TO vs. XEQT.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HBA.TO vs. XEQT.TO

Last updated Jun 4, 2026

HBA.TO (Hamilton Australian Bank Equal-Weight Index ETF) and XEQT.TO (iShares Core Equity ETF Portfolio) are both exchange-traded funds - HBA.TO is a Financials Equities fund tracking the Solactive Australian Bank Equal-Weight Index, while XEQT.TO is a Global Equities fund actively managed by iShares. HBA.TO is passively managed, while XEQT.TO is actively managed. Over the past 5 years, HBA.TO returned 11.38%/yr vs 13.72%/yr for XEQT.TO. At a 0.45 correlation, their price movements are largely independent.

Performance

HBA.TO vs. XEQT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Hamilton Australian Bank Equal-Weight Index ETF (HBA.TO) and iShares Core Equity ETF Portfolio (XEQT.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, HBA.TO achieves a -0.51% return, which is significantly lower than XEQT.TO's 12.29% return.

HBA.TO

1D
-0.40%
1M
-2.87%
YTD
-0.51%
6M
3.67%
1Y
7.13%
3Y*
19.36%
5Y*
11.38%
10Y*
—

XEQT.TO

1D
-0.56%
1M
5.98%
YTD
12.29%
6M
11.20%
1Y
29.24%
3Y*
21.78%
5Y*
13.72%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

HBA.TO vs. XEQT.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
HBA.TO
Hamilton Australian Bank Equal-Weight Index ETF		-0.51%13.01%30.43%12.29%-0.55%32.18%20.11%
XEQT.TO
iShares Core Equity ETF Portfolio		12.29%19.47%24.36%17.25%-11.01%18.94%16.39%

Correlation

The correlation between HBA.TO and XEQT.TO is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.41

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

0.40

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

0.44

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

0.45

HBA.TO vs. XEQT.TO - Sectors Allocation Comparison

Sectors
HBA.TO
XEQT.TO

Financial Services

100.0%
20.3%

Basic Materials

-

7.3%

Communication Services

-

6.4%

Consumer Cyclical

-

7.8%

Consumer Defensive

-

4.4%

Energy

-

7.2%

Healthcare

-

6.6%

Industrials

-

12.1%

Real Estate

-

2.2%

Technology

-

22.9%

Utilities

-

2.8%

Financial Services

HBA.TO
100.0%
XEQT.TO
20.3%

Basic Materials

HBA.TO

-

XEQT.TO
7.3%

Communication Services

HBA.TO

-

XEQT.TO
6.4%

Consumer Cyclical

HBA.TO

-

XEQT.TO
7.8%

Consumer Defensive

HBA.TO

-

XEQT.TO
4.4%

Energy

HBA.TO

-

XEQT.TO
7.2%

Healthcare

HBA.TO

-

XEQT.TO
6.6%

Industrials

HBA.TO

-

XEQT.TO
12.1%

Real Estate

HBA.TO

-

XEQT.TO
2.2%

Technology

HBA.TO

-

XEQT.TO
22.9%

Utilities

HBA.TO

-

XEQT.TO
2.8%

Compare stocks, funds, or ETFs

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Hamilton Australian Bank Equal-Weight Index ETF

iShares Core Equity ETF Portfolio

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Often compared with XEQT.TO:
XEQT.TO vs. VFV.TOXEQT.TO vs. VEQT.TOXEQT.TO vs. XGRO.TOXEQT.TO vs. ZEQT.TOXEQT.TO vs. VGRO.TOXEQT.TO vs. XEI.TOXEQT.TO vs. VOO

Return for Risk

HBA.TO vs. XEQT.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HBA.TO
HBA.TO Risk / Return Rank: 1515
Overall Rank
HBA.TO Sharpe Ratio Rank: 1414
Sharpe Ratio Rank
HBA.TO Sortino Ratio Rank: 1414
Sortino Ratio Rank
HBA.TO Omega Ratio Rank: 1414
Omega Ratio Rank
HBA.TO Calmar Ratio Rank: 1717
Calmar Ratio Rank
HBA.TO Martin Ratio Rank: 1616
Martin Ratio Rank
XEQT.TO
XEQT.TO Risk / Return Rank: 7575
Overall Rank
XEQT.TO Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
XEQT.TO Sortino Ratio Rank: 7676
Sortino Ratio Rank
XEQT.TO Omega Ratio Rank: 7676
Omega Ratio Rank
XEQT.TO Calmar Ratio Rank: 7070
Calmar Ratio Rank
XEQT.TO Martin Ratio Rank: 7878
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.

HBA.TO vs. XEQT.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hamilton Australian Bank Equal-Weight Index ETF (HBA.TO) and iShares Core Equity ETF Portfolio (XEQT.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.

HBA.TOXEQT.TODifference
Sharpe ratioReturn per unit of total volatility
0.38
2.53

-2.15

Sortino ratioReturn per unit of downside risk
0.67
3.49

-2.82

Omega ratioGain probability vs. loss probability

1.08

1.47

-0.39

Calmar ratioReturn relative to maximum drawdown

0.59

3.56

-2.97

Martin ratioReturn relative to average drawdown

1.42

15.50

-14.08

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

HBA.TO vs. XEQT.TO - Sharpe Ratio Comparison

The current HBA.TO Sharpe Ratio is 0.38, which is lower than the XEQT.TO Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of HBA.TO and XEQT.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

HBA.TOXEQT.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.38

2.53

-2.15

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.64

1.05

-0.41

Sharpe Ratio (All Time)

Calculated using the full available price history

0.95

0.95

0.00

Drawdowns

HBA.TO vs. XEQT.TO - Drawdown Comparison

The maximum HBA.TO drawdown since its inception was -21.15%, smaller than the maximum XEQT.TO drawdown of -29.74%. Use the drawdown chart below to compare losses from any high point for HBA.TO and XEQT.TO.

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Drawdown Indicators

HBA.TOXEQT.TODifference

Max Drawdown

Largest peak-to-trough decline

-21.15%

-29.74%

+8.59%

Max Drawdown (1Y)

Largest decline over 1 year

-12.12%

-8.25%

-3.87%

Max Drawdown (3Y)

Largest decline over 3 years

-19.21%

-15.08%

-4.13%

Max Drawdown (5Y)

Largest decline over 5 years

-21.15%

-19.56%

-1.59%

Current Drawdown

Current decline from peak

-10.95%

-0.56%

-10.39%

Average Drawdown

Average peak-to-trough decline

-4.53%

-4.11%

-0.42%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.02%

1.89%

+3.13%

Volatility

HBA.TO vs. XEQT.TO - Volatility Comparison

Hamilton Australian Bank Equal-Weight Index ETF (HBA.TO) has a higher volatility of 6.76% compared to iShares Core Equity ETF Portfolio (XEQT.TO) at 3.70%. This indicates that HBA.TO's price experiences larger fluctuations and is considered to be riskier than XEQT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HBA.TOXEQT.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.76%

3.70%

+3.06%

Volatility (6M)

Calculated over the trailing 6-month period

14.85%

9.38%

+5.47%

Volatility (1Y)

Calculated over the trailing 1-year period

18.87%

11.63%

+7.24%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.95%

13.12%

+4.83%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.42%

15.56%

+2.86%

Dividends

HBA.TO vs. XEQT.TO - Dividend Comparison

HBA.TO's dividend yield for the trailing twelve months is around 4.17%, more than XEQT.TO's 1.48% yield.

PositionTTM2025202420232022202120202019
HBA.TO
Hamilton Australian Bank Equal-Weight Index ETF		4.17%4.11%4.45%6.67%8.56%5.81%2.66%0.00%
XEQT.TO
iShares Core Equity ETF Portfolio		1.48%1.66%2.01%2.07%2.12%1.64%1.66%1.19%

Frequently Asked Questions

HBA.TO and XEQT.TO have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

HBA.TO is categorized as Financials Equities, while XEQT.TO is Global Equities. They also come from different issuers: Hamilton and iShares.

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