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HCA.TO vs. WXM.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

HCA.TO vs. WXM.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Hamilton Canadian Bank Mean Reversion Index ETF (HCA.TO) and CI Morningstar Canada Momentum Index ETF (WXM.TO).

HCA.TO and WXM.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HCA.TO is a passively managed fund by Hamilton that tracks the performance of the Solactive Canadian Bank Mean Reversion Index. It was launched on Jun 26, 2020. WXM.TO is a passively managed fund by CI Global Asset Management that tracks the performance of the Morningstar Canada Target Momentum Index. It was launched on Feb 13, 2012. Both HCA.TO and WXM.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

HCA.TO vs. WXM.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Hamilton Canadian Bank Mean Reversion Index ETF (HCA.TO) and CI Morningstar Canada Momentum Index ETF (WXM.TO). The values are adjusted to include any dividend payments, if applicable.

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HCA.TO vs. WXM.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
HCA.TO
Hamilton Canadian Bank Mean Reversion Index ETF		-0.14%51.09%33.32%26.95%-4.34%48.13%23.46%
WXM.TO
CI Morningstar Canada Momentum Index ETF		8.73%38.16%33.93%3.35%-0.42%20.98%9.56%

Returns By Period

In the year-to-date period, HCA.TO achieves a -0.14% return, which is significantly lower than WXM.TO's 8.73% return.

HCA.TO

1D
0.00%
1M
-5.78%
YTD
-0.14%
6M
11.27%
1Y
48.91%
3Y*
34.39%
5Y*
25.85%
10Y*
—

WXM.TO

1D
3.05%
1M
-4.45%
YTD
8.73%
6M
21.99%
1Y
47.64%
3Y*
25.75%
5Y*
18.27%
10Y*
14.63%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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

Hamilton Canadian Bank Mean Reversion Index ETF

CI Morningstar Canada Momentum Index ETF

Often compared with HCA.TO:
HCA.TO vs. PMIF.TOHCA.TO vs. HCAL.TOHCA.TO vs. HEB.TOHCA.TO vs. FCCM.NEOHCA.TO vs. MIX.TOHCA.TO vs. VCE.TOHCA.TO vs. CANY.TO
Often compared with WXM.TO:
WXM.TO vs. FCCM.NEOWXM.TO vs. ZXM.TOWXM.TO vs. XCV.TOWXM.TO vs. ATSX.TOWXM.TO vs. VDY.TOWXM.TO vs. FCIM.NEOWXM.TO vs. VXM.TO

HCA.TO vs. WXM.TO - Expense Ratio Comparison

HCA.TO has a 0.45% expense ratio, which is lower than WXM.TO's 0.65% expense ratio.

WXM.TO
CI Morningstar Canada Momentum Index ETF
HCA.TO
Hamilton Canadian Bank Mean Reversion Index ETF

Return for Risk

HCA.TO vs. WXM.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HCA.TO
HCA.TO Risk / Return Rank: 9898
Overall Rank
HCA.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
HCA.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
HCA.TO Omega Ratio Rank: 9898
Omega Ratio Rank
HCA.TO Calmar Ratio Rank: 9898
Calmar Ratio Rank
HCA.TO Martin Ratio Rank: 9898
Martin Ratio Rank
WXM.TO
WXM.TO Risk / Return Rank: 9797
Overall Rank
WXM.TO Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
WXM.TO Sortino Ratio Rank: 9797
Sortino Ratio Rank
WXM.TO Omega Ratio Rank: 9797
Omega Ratio Rank
WXM.TO Calmar Ratio Rank: 9696
Calmar Ratio Rank
WXM.TO Martin Ratio Rank: 9797
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.

HCA.TO vs. WXM.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hamilton Canadian Bank Mean Reversion Index ETF (HCA.TO) and CI Morningstar Canada Momentum Index ETF (WXM.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.

HCA.TOWXM.TODifference

Sharpe ratio

Return per unit of total volatility

3.65

2.84

+0.81

Sortino ratio

Return per unit of downside risk

4.94

3.56

+1.39

Omega ratio

Gain probability vs. loss probability

1.73

1.54

+0.18

Calmar ratio

Return relative to maximum drawdown

5.74

4.38

+1.36

Martin ratio

Return relative to average drawdown

23.87

19.78

+4.09

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

HCA.TO vs. WXM.TO - Sharpe Ratio Comparison

The current HCA.TO Sharpe Ratio is 3.65, which is comparable to the WXM.TO Sharpe Ratio of 2.84. The chart below compares the historical Sharpe Ratios of HCA.TO and WXM.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

HCA.TOWXM.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.65

2.84

+0.81

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.75

1.17

+0.58

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.88

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.99

0.88

+1.11

Correlation

The correlation between HCA.TO and WXM.TO is 0.50, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

HCA.TO vs. WXM.TO - Dividend Comparison

HCA.TO's dividend yield for the trailing twelve months is around 3.46%, more than WXM.TO's 1.26% yield.

TTM20252024202320222021202020192018201720162015
HCA.TO
Hamilton Canadian Bank Mean Reversion Index ETF		3.46%5.59%15.89%20.26%16.23%11.79%3.54%0.00%0.00%0.00%0.00%0.00%
WXM.TO
CI Morningstar Canada Momentum Index ETF		1.26%1.25%1.27%1.38%2.25%1.04%0.78%0.94%1.44%1.38%1.58%1.51%

Drawdowns

HCA.TO vs. WXM.TO - Drawdown Comparison

The maximum HCA.TO drawdown since its inception was -17.82%, smaller than the maximum WXM.TO drawdown of -40.45%. Use the drawdown chart below to compare losses from any high point for HCA.TO and WXM.TO.

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Drawdown Indicators

HCA.TOWXM.TODifference

Max Drawdown

Largest peak-to-trough decline

-17.82%

-40.45%

+22.63%

Max Drawdown (1Y)

Largest decline over 1 year

-8.52%

-11.18%

+2.66%

Max Drawdown (5Y)

Largest decline over 5 years

-17.82%

-15.87%

-1.95%

Max Drawdown (10Y)

Largest decline over 10 years

—

-40.45%

—

Current Drawdown

Current decline from peak

-7.83%

-5.21%

-2.62%

Average Drawdown

Average peak-to-trough decline

-3.43%

-4.52%

+1.09%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.05%

2.48%

-0.43%

Volatility

HCA.TO vs. WXM.TO - Volatility Comparison

The current volatility for Hamilton Canadian Bank Mean Reversion Index ETF (HCA.TO) is 5.12%, while CI Morningstar Canada Momentum Index ETF (WXM.TO) has a volatility of 6.24%. This indicates that HCA.TO experiences smaller price fluctuations and is considered to be less risky than WXM.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HCA.TOWXM.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.12%

6.24%

-1.12%

Volatility (6M)

Calculated over the trailing 6-month period

9.86%

12.62%

-2.76%

Volatility (1Y)

Calculated over the trailing 1-year period

13.45%

16.85%

-3.40%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.86%

15.74%

-0.88%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.04%

16.68%

-1.64%