HCON.TO vs. CGAA.TO
HCON.TO (Global X Conservative Asset Allocation ETF) and CGAA.TO (CI Global Asset Allocation Private Pool) are both Global Allocation funds. Both are actively managed. Over the past 5 years, HCON.TO returned 4.63%/yr vs 7.00%/yr for CGAA.TO. At a 0.32 correlation, their price movements are largely independent.
Performance
HCON.TO vs. CGAA.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HCON.TO achieves a 5.37% return, which is significantly higher than CGAA.TO's 3.68% return.
HCON.TO
- 1D
- 0.06%
- 1M
- -0.23%
- 6M
- 4.18%
- YTD
- 5.37%
- 1Y
- 13.00%
- 3Y*
- 10.32%
- 5Y*
- 4.63%
- 10Y*
- —
CGAA.TO
- 1D
- -0.67%
- 1M
- -0.40%
- 6M
- 2.10%
- YTD
- 3.68%
- 1Y
- 12.12%
- 3Y*
- 11.60%
- 5Y*
- 7.00%
- 10Y*
- 5.90%
HCON.TO vs. CGAA.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
HCON.TO Global X Conservative Asset Allocation ETF | 5.37% | 10.11% | 12.67% | 11.58% | -16.79% | 9.57% | 14.04% | 16.76% | -6.03% |
CGAA.TO CI Global Asset Allocation Private Pool | 3.68% | 10.61% | 16.99% | 9.22% | -11.13% | 15.14% | 11.57% | 15.08% | -14.88% |
Correlation
The correlation between HCON.TO and CGAA.TO is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Aug 2, 2018 | 0.32 |
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Return for Risk
HCON.TO vs. CGAA.TO — Risk / Return Rank
HCON.TO
CGAA.TO
HCON.TO vs. CGAA.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Conservative Asset Allocation ETF (HCON.TO) and CI Global Asset Allocation Private Pool (CGAA.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.
| HCON.TO | CGAA.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.55 | ||
| Sortino ratioReturn per unit of downside risk | +0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.23 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.63 | 1.66 | +0.98 |
| Martin ratioReturn relative to average drawdown | 9.91 | 5.85 | +4.06 |
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Drawdowns
HCON.TO vs. CGAA.TO - Drawdown Comparison
The maximum HCON.TO drawdown since its inception was -22.98%, smaller than the maximum CGAA.TO drawdown of -41.34%. Use the drawdown chart below to compare losses from any high point for HCON.TO and CGAA.TO.
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Drawdown Indicators
| HCON.TO | CGAA.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.98% | -41.34% | +18.36% |
Max Drawdown (1Y)Largest decline over 1 year | -4.71% | -7.59% | +2.88% |
Max Drawdown (3Y)Largest decline over 3 years | -6.10% | -11.64% | +5.54% |
Max Drawdown (5Y)Largest decline over 5 years | -20.12% | -17.23% | -2.89% |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.56% | — |
Current DrawdownCurrent decline from peak | -1.28% | -1.26% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -4.29% | -7.46% | +3.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.25% | 2.14% | -0.89% |
Volatility
HCON.TO vs. CGAA.TO - Volatility Comparison
The current volatility for Global X Conservative Asset Allocation ETF (HCON.TO) is 2.12%, while CI Global Asset Allocation Private Pool (CGAA.TO) has a volatility of 2.79%. This indicates that HCON.TO experiences smaller price fluctuations and is considered to be less risky than CGAA.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HCON.TO | CGAA.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.12% | 2.79% | -0.67% |
Volatility (6M)Calculated over the trailing 6-month period | 5.89% | 8.54% | -2.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.11% | 10.55% | -3.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.86% | 11.63% | -2.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.62% | 12.21% | -0.59% |
Dividends
HCON.TO vs. CGAA.TO - Dividend Comparison
HCON.TO's dividend yield for the trailing twelve months is around 2.73%, more than CGAA.TO's 1.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CGAA.TO CI Global Asset Allocation Private Pool | 1.73% | 1.57% | 2.00% | 2.19% | 2.21% | 0.91% | 1.14% | 2.66% | 3.74% | 3.36% | 3.12% | 3.20% |
HCON.TO Global X Conservative Asset Allocation ETF | 2.73% | 2.83% | 2.60% | 0.95% | 0.02% | 0.09% | 0.78% | 0.03% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HCON.TO and CGAA.TO have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Global X and CI.
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