HBNK.TO vs. PPLN.TO
HBNK.TO (Global X Equal Weight Banks Index ETF) and PPLN.TO (Global X Equal Weight Canadian Pipelines Index ETF) are both exchange-traded funds - HBNK.TO is a Financials Equities fund tracking the Solactive Equal Weight Canada Banks Index, while PPLN.TO is a Energy Equities fund tracking the Mirae Asset Equal Weight Canadian Pipeline Index. Both are passively managed. Over the past year, HBNK.TO returned 74.03% vs 42.97% for PPLN.TO. At a 0.17 correlation, their price movements are largely independent. HBNK.TO charges 0.09%/yr vs 0.31%/yr for PPLN.TO.
Performance
HBNK.TO vs. PPLN.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with HBNK.TO having a 30.68% return and PPLN.TO slightly higher at 31.63%.
HBNK.TO
- 1D
- 0.50%
- 1M
- 8.28%
- YTD
- 30.68%
- 6M
- 30.46%
- 1Y
- 74.03%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PPLN.TO
- 1D
- 1.70%
- 1M
- -0.98%
- YTD
- 31.63%
- 6M
- 31.85%
- 1Y
- 42.97%
- 3Y*
- 20.76%
- 5Y*
- 14.37%
- 10Y*
- 11.01%
HBNK.TO vs. PPLN.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HBNK.TO Global X Equal Weight Banks Index ETF | 30.68% | 43.71% | 24.77% | 9.82% |
PPLN.TO Global X Equal Weight Canadian Pipelines Index ETF | 31.63% | 4.14% | 17.18% | 6.61% |
Correlation
The correlation between HBNK.TO and PPLN.TO is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Jul 7, 2023 | 0.17 |
The correlation between HBNK.TO and PPLN.TO shifts across timeframes, from -0.06 (1 year) to 0.17 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HBNK.TO vs. PPLN.TO — Risk / Return Rank
HBNK.TO
PPLN.TO
HBNK.TO vs. PPLN.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Equal Weight Banks Index ETF (HBNK.TO) and Global X Equal Weight Canadian Pipelines Index ETF (PPLN.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.
| HBNK.TO | PPLN.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.82 | ||
| Sortino ratioReturn per unit of downside risk | +3.56 | ||
| Omega ratioGain probability vs. loss probability | 2.05 | 1.50 | +0.55 |
| Calmar ratioReturn relative to maximum drawdown | 8.78 | 4.22 | +4.56 |
| Martin ratioReturn relative to average drawdown | 38.18 | 11.20 | +26.98 |
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Drawdowns
HBNK.TO vs. PPLN.TO - Drawdown Comparison
The maximum HBNK.TO drawdown since its inception was -14.78%, smaller than the maximum PPLN.TO drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for HBNK.TO and PPLN.TO.
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Drawdown Indicators
| HBNK.TO | PPLN.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.78% | -59.05% | +44.27% |
Max Drawdown (1Y)Largest decline over 1 year | -8.48% | -10.22% | +1.74% |
Max Drawdown (3Y)Largest decline over 3 years | — | -15.31% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.54% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -59.05% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.98% | +0.98% |
Average DrawdownAverage peak-to-trough decline | -2.28% | -9.44% | +7.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.95% | 3.85% | -1.90% |
Volatility
HBNK.TO vs. PPLN.TO - Volatility Comparison
The current volatility for Global X Equal Weight Banks Index ETF (HBNK.TO) is 4.34%, while Global X Equal Weight Canadian Pipelines Index ETF (PPLN.TO) has a volatility of 5.24%. This indicates that HBNK.TO experiences smaller price fluctuations and is considered to be less risky than PPLN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HBNK.TO | PPLN.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.34% | 5.24% | -0.90% |
Volatility (6M)Calculated over the trailing 6-month period | 11.24% | 11.52% | -0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.95% | 14.78% | -1.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.71% | 17.43% | -4.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.71% | 23.21% | -10.50% |
HBNK.TO vs. PPLN.TO - Expense Ratio Comparison
HBNK.TO has a 0.09% expense ratio, which is lower than PPLN.TO's 0.31% expense ratio.
Dividends
HBNK.TO vs. PPLN.TO - Dividend Comparison
HBNK.TO's dividend yield for the trailing twelve months is around 2.57%, less than PPLN.TO's 4.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HBNK.TO Global X Equal Weight Banks Index ETF | 2.57% | 3.24% | 4.15% | 2.45% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PPLN.TO Global X Equal Weight Canadian Pipelines Index ETF | 4.18% | 4.35% | 2.94% | 3.77% | 3.23% | 3.47% | 5.76% | 4.40% | 5.21% | 4.31% | 3.99% | 4.41% |
Frequently Asked Questions
HBNK.TO and PPLN.TO have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HBNK.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HBNK.TO is cheaper with a 0.09% expense ratio, compared with 0.31% for PPLN.TO.
HBNK.TO is categorized as Financials Equities, while PPLN.TO is Energy Equities. HBNK.TO tracks Solactive Equal Weight Canada Banks Index, while PPLN.TO tracks Mirae Asset Equal Weight Canadian Pipeline Index. Their fees differ too: 0.09% for HBNK.TO and 0.31% for PPLN.TO.
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