HBNK.TO vs. UBIL-U.TO

Last updated Jun 4, 2026

HBNK.TO (Global X Equal Weight Banks Index ETF) and UBIL-U.TO (Global X 0-3 Month U.S. T-Bill ETF USD) are both exchange-traded funds - HBNK.TO is a Financials Equities fund tracking the Solactive Equal Weight Canada Banks Index, while UBIL-U.TO is a Ultrashort Bond fund actively managed by Global X. HBNK.TO is passively managed, while UBIL-U.TO is actively managed. Over the past year, HBNK.TO returned 60.09% vs 4.17% for UBIL-U.TO. At a correlation of -0.26, they often move in opposite directions. HBNK.TO charges 0.09%/yr vs 0.12%/yr for UBIL-U.TO.

Performance

HBNK.TO vs. UBIL-U.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Equal Weight Banks Index ETF (HBNK.TO) and Global X 0-3 Month U.S. T-Bill ETF USD (UBIL-U.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HBNK.TO is traded in CAD, while UBIL-U.TO is traded in USD. To make them comparable, the UBIL-U.TO values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, HBNK.TO achieves a 18.85% return, which is significantly higher than UBIL-U.TO's 2.37% return.

HBNK.TO

• 1D: -0.88%
• 1M: 5.21%
• YTD: 18.85%
• 6M: 24.41%
• 1Y: 60.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

UBIL-U.TO

• 1D: 0.43%
• 1M: 2.23%
• YTD: 2.37%
• 6M: 0.95%
• 1Y: 4.17%
• 3Y*: 4.55%
• 5Y*: —
• 10Y*: —

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

HBNK.TO vs. UBIL-U.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HBNK.TO Global X Equal Weight Banks Index ETF	18.85%	43.71%	24.77%	8.99%
UBIL-U.TO Global X 0-3 Month U.S. T-Bill ETF USD	2.37%	-1.73%	12.65%	1.58%

Correlation

The correlation between HBNK.TO and UBIL-U.TO is -0.22, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.22
Correlation (All Time) Calculated using the full available price history since Jul 10, 2023	-0.26

Return for Risk

HBNK.TO vs. UBIL-U.TO — Risk / Return Rank

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

HBNK.TO

HBNK.TO Risk / Return Rank: 96
HBNK.TO Sharpe Ratio Rank: 97
HBNK.TO Sortino Ratio Rank: 97
HBNK.TO Omega Ratio Rank: 97
HBNK.TO Calmar Ratio Rank: 94
HBNK.TO Martin Ratio Rank: 95

UBIL-U.TO

UBIL-U.TO Risk / Return Rank: 99
UBIL-U.TO Sharpe Ratio Rank: 99
UBIL-U.TO Sortino Ratio Rank: 99
UBIL-U.TO Omega Ratio Rank: 99
UBIL-U.TO Calmar Ratio Rank: 99
UBIL-U.TO Martin Ratio Rank: 99

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.

HBNK.TO vs. UBIL-U.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 0-3 Month U.S. T-Bill ETF USD (UBIL-U.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.

	HBNK.TO	UBIL-U.TO	Difference
Sharpe ratio: Return per unit of total volatility	4.77	0.92	+3.85
Sortino ratio: Return per unit of downside risk	6.50	1.28	+5.23
Omega ratio: Gain probability vs. loss probability	1.88	1.16	+0.72
Calmar ratio: Return relative to maximum drawdown	7.13	1.07	+6.06
Martin ratio: Return relative to average drawdown	30.99	2.74	+28.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HBNK.TO vs. UBIL-U.TO - Sharpe Ratio Comparison

The current HBNK.TO Sharpe Ratio is 4.77, which is higher than the UBIL-U.TO Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of HBNK.TO and UBIL-U.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.

Sharpe Ratios by Period

	HBNK.TO	UBIL-U.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.77	0.92	+3.85
Sharpe Ratio (All Time) Calculated using the full available price history	2.66	0.89	+1.78

Drawdowns

HBNK.TO vs. UBIL-U.TO - Drawdown Comparison

The maximum HBNK.TO drawdown since its inception was -14.78%, which is greater than UBIL-U.TO's maximum drawdown of -5.51%. Use the drawdown chart below to compare losses from any high point for HBNK.TO and UBIL-U.TO.

Drawdown Indicators

	HBNK.TO	UBIL-U.TO	Difference
Max Drawdown Largest peak-to-trough decline	-14.78%	-5.51%	-9.27%
Max Drawdown (1Y) Largest decline over 1 year	-8.48%	-3.91%	-4.57%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.51%	—
Current Drawdown Current decline from peak	-2.30%	-0.63%	-1.67%
Average Drawdown Average peak-to-trough decline	-2.33%	-1.73%	-0.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	1.52%	+0.43%

Volatility

HBNK.TO vs. UBIL-U.TO - Volatility Comparison

Global X Equal Weight Banks Index ETF (HBNK.TO) has a higher volatility of 5.00% compared to Global X 0-3 Month U.S. T-Bill ETF USD (UBIL-U.TO) at 0.80%. This indicates that HBNK.TO's price experiences larger fluctuations and is considered to be riskier than UBIL-U.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HBNK.TO	UBIL-U.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.00%	0.80%	+4.20%
Volatility (6M) Calculated over the trailing 6-month period	11.26%	3.42%	+7.84%
Volatility (1Y) Calculated over the trailing 1-year period	12.67%	4.56%	+8.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.70%	5.27%	+7.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.70%	5.27%	+7.43%

HBNK.TO vs. UBIL-U.TO - Expense Ratio Comparison

HBNK.TO has a 0.09% expense ratio, which is lower than UBIL-U.TO's 0.12% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

HBNK.TO vs. UBIL-U.TO - Dividend Comparison

HBNK.TO's dividend yield for the trailing twelve months is around 2.82%, more than UBIL-U.TO's 2.72% yield.

Position	TTM	2025	2024	2023
HBNK.TO Global X Equal Weight Banks Index ETF	2.82%	3.24%	4.15%	2.45%
UBIL-U.TO Global X 0-3 Month U.S. T-Bill ETF USD	2.72%	2.97%	3.68%	2.73%

Frequently Asked Questions

Can I hold both HBNK.TO and UBIL-U.TO in my portfolio?

HBNK.TO and UBIL-U.TO have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HBNK.TO or UBIL-U.TO?

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.

Which ETF is cheaper, HBNK.TO or UBIL-U.TO?

HBNK.TO is cheaper with a 0.09% expense ratio, compared with 0.12% for UBIL-U.TO.

What is the main difference between HBNK.TO and UBIL-U.TO?

HBNK.TO is categorized as Financials Equities, while UBIL-U.TO is Ultrashort Bond. Their fees differ too: 0.09% for HBNK.TO and 0.12% for UBIL-U.TO.