HBGD.TO vs. LEAD.TO

Last updated Jul 25, 2026

HBGD.TO (Global X Big Data & Hardware Index ETF) and LEAD.TO (Evolve Future Leadership Fund) are both exchange-traded funds - HBGD.TO is a Technology Equities fund tracking the Solactive Big Data & Hardware Index, while LEAD.TO is a Global Equities fund actively managed by Evolve Funds Group Inc.. HBGD.TO is passively managed, while LEAD.TO is actively managed. Over the past 5 years, HBGD.TO returned 24.16%/yr vs 5.58%/yr for LEAD.TO. At a 0.44 correlation, their price movements are largely independent. HBGD.TO charges 0.64%/yr vs 0.92%/yr for LEAD.TO.

Performance

HBGD.TO vs. LEAD.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Big Data & Hardware Index ETF (HBGD.TO) and Evolve Future Leadership Fund (LEAD.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HBGD.TO achieves a 43.70% return, which is significantly higher than LEAD.TO's -4.13% return.

HBGD.TO

• 1D: -3.80%
• 1M: -18.34%
• 6M: 23.47%
• YTD: 43.70%
• 1Y: 85.21%
• 3Y*: 44.62%
• 5Y*: 24.16%
• 10Y*: —
• ALL TIME*: 184.27%

LEAD.TO

• 1D: -1.14%
• 1M: 1.87%
• 6M: -0.68%
• YTD: -4.13%
• 1Y: -3.93%
• 3Y*: 18.17%
• 5Y*: 5.58%
• 10Y*: —
• ALL TIME*: 8.63%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HBGD.TO Global X Big Data & Hardware Index ETF	CA$189.22K	CA$324.68K	CA$347.34K
LEAD.TO Evolve Future Leadership Fund	CA$5.33K	CA$6.18K	CA$7.84K

HBGD.TO vs. LEAD.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
HBGD.TO Global X Big Data & Hardware Index ETF	43.70%	53.48%	15.92%	129.66%	-56.87%	59.75%	-79.64%
LEAD.TO Evolve Future Leadership Fund	-4.13%	12.13%	38.23%	34.98%	-34.79%	14.98%	7.95%

Correlation

The correlation between HBGD.TO and LEAD.TO is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (5Y) Calculated over the trailing 5-year period	0.43
Correlation (All Time) Calculated using the full available price history since Sep 14, 2020	0.44

Return for Risk

HBGD.TO vs. LEAD.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HBGD.TO

HBGD.TO Risk / Return Rank: 77
HBGD.TO Sharpe Ratio Rank: 82
HBGD.TO Sortino Ratio Rank: 73
HBGD.TO Omega Ratio Rank: 72
HBGD.TO Calmar Ratio Rank: 82
HBGD.TO Martin Ratio Rank: 73

LEAD.TO

LEAD.TO Risk / Return Rank: 10
LEAD.TO Sharpe Ratio Rank: 9
LEAD.TO Sortino Ratio Rank: 9
LEAD.TO Omega Ratio Rank: 9
LEAD.TO Calmar Ratio Rank: 10
LEAD.TO Martin Ratio Rank: 10

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.

HBGD.TO vs. LEAD.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Big Data & Hardware Index ETF (HBGD.TO) and Evolve Future Leadership Fund (LEAD.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.

	HBGD.TO	LEAD.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.90	-0.18	+2.08
Sortino ratio: Return per unit of downside risk	2.37	-0.12	+2.49
Omega ratio: Gain probability vs. loss probability	1.30	0.99	+0.32
Calmar ratio: Return relative to maximum drawdown	3.14	-0.15	+3.28
Martin ratio: Return relative to average drawdown	9.18	-0.33	+9.51

HBGD.TO vs. LEAD.TO - Sharpe Ratio Comparison

The current HBGD.TO Sharpe Ratio is 1.90, which is higher than the LEAD.TO Sharpe Ratio of -0.18. The chart below compares the historical Sharpe Ratios of HBGD.TO and LEAD.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.

Drawdowns

HBGD.TO vs. LEAD.TO - Drawdown Comparison

The maximum HBGD.TO drawdown since its inception was -99.95%, which is greater than LEAD.TO's maximum drawdown of -39.80%. Use the drawdown chart below to compare losses from any high point for HBGD.TO and LEAD.TO.

Drawdown Indicators

	HBGD.TO	LEAD.TO	Difference
Max Drawdown Largest peak-to-trough decline	-99.95%	-39.80%	-60.15%
Max Drawdown (1Y) Largest decline over 1 year	-27.30%	-22.65%	-4.65%
Max Drawdown (3Y) Largest decline over 3 years	-38.68%	-22.65%	-16.03%
Max Drawdown (5Y) Largest decline over 5 years	-63.43%	-39.80%	-23.63%
Current Drawdown Current decline from peak	-71.01%	-9.30%	-61.71%
Average Drawdown Average peak-to-trough decline	-86.16%	-13.81%	-72.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.33%	10.12%	-0.79%

Volatility

HBGD.TO vs. LEAD.TO - Volatility Comparison

Global X Big Data & Hardware Index ETF (HBGD.TO) has a higher volatility of 19.63% compared to Evolve Future Leadership Fund (LEAD.TO) at 5.40%. This indicates that HBGD.TO's price experiences larger fluctuations and is considered to be riskier than LEAD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HBGD.TO	LEAD.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.63%	5.40%	+14.23%
Volatility (6M) Calculated over the trailing 6-month period	37.33%	14.99%	+22.34%
Volatility (1Y) Calculated over the trailing 1-year period	44.97%	18.57%	+26.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.13%	21.80%	+19.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	238,183.37%	21.02%	+238,162.35%

HBGD.TO vs. LEAD.TO - Expense Ratio Comparison

HBGD.TO has a 0.64% expense ratio, which is lower than LEAD.TO's 0.92% expense ratio.

Dividends

HBGD.TO vs. LEAD.TO - Dividend Comparison

HBGD.TO's dividend yield for the trailing twelve months is around 0.27%, less than LEAD.TO's 11.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
HBGD.TO Global X Big Data & Hardware Index ETF	0.27%	0.39%	0.53%	0.64%	1.22%	1.65%	0.96%	13.70%	18.41%
LEAD.TO Evolve Future Leadership Fund	11.67%	9.21%	5.84%	7.25%	9.02%	5.44%	1.48%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HBGD.TO and LEAD.TO in my portfolio?

HBGD.TO and LEAD.TO have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HBGD.TO or LEAD.TO?

On fees, HBGD.TO is cheaper at 0.64% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HBGD.TO or LEAD.TO?

HBGD.TO is cheaper with a 0.64% expense ratio, compared with 0.92% for LEAD.TO.

What is the main difference between HBGD.TO and LEAD.TO?

HBGD.TO is categorized as Technology Equities, while LEAD.TO is Global Equities. They also come from different issuers: Global X and Evolve Funds Group Inc.. Their fees differ too: 0.64% for HBGD.TO and 0.92% for LEAD.TO.