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HCON.TO vs. HXS.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HCON.TO vs. HXS.TO

Last updated Jun 4, 2026

HCON.TO (Global X Conservative Asset Allocation ETF) and HXS.TO (Global X S&P 500 Index Corporate Class ETF) are both exchange-traded funds - HCON.TO is a Global Allocation fund actively managed by Global X, while HXS.TO is a S&P 500 fund tracking the S&P 500 Index. HCON.TO is actively managed, while HXS.TO is passively managed. Over the past 5 years, HCON.TO returned 5.15%/yr vs 16.64%/yr for HXS.TO. At a 0.45 correlation, their price movements are largely independent. HCON.TO charges 0.22%/yr vs 0.10%/yr for HXS.TO.

Performance

HCON.TO vs. HXS.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Conservative Asset Allocation ETF (HCON.TO) and Global X S&P 500 Index Corporate Class ETF (HXS.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, HCON.TO achieves a 5.14% return, which is significantly lower than HXS.TO's 11.99% return.

HCON.TO

1D
0.26%
1M
3.66%
YTD
5.14%
6M
4.96%
1Y
13.34%
3Y*
10.89%
5Y*
5.15%
10Y*
—

HXS.TO

1D
-0.27%
1M
7.20%
YTD
11.99%
6M
10.17%
1Y
29.00%
3Y*
23.29%
5Y*
16.64%
10Y*
15.90%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HCON.TO vs. HXS.TO - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
HCON.TO
Global X Conservative Asset Allocation ETF		5.14%10.11%12.67%11.86%-16.79%9.57%14.05%16.76%-6.03%
HXS.TO
Global X S&P 500 Index Corporate Class ETF		11.99%11.93%34.98%23.22%-12.72%27.30%15.78%24.69%-6.68%

Correlation

The correlation between HCON.TO and HXS.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

0.35

Correlation (5Y)
Calculated over the trailing 5-year period

0.47

Correlation (All Time)
Calculated using the full available price history since Aug 3, 2018

0.45

The correlation between HCON.TO and HXS.TO shifts across timeframes, from 0.35 (3 years) to 0.47 (5 years), reflecting how their relationship changes across market environments.

HCON.TO vs. HXS.TO - Sectors Allocation Comparison

Sectors
HCON.TO
HXS.TO

Technology

23.9%
35.6%

Financial Services

21.3%
11.8%

Industrials

11.2%
8.3%

Consumer Cyclical

8.1%
10.1%

Communication Services

7.0%
11.2%

Healthcare

6.8%
8.5%

Energy

6.7%
3.5%

Basic Materials

5.6%
1.8%

Consumer Defensive

4.7%
4.9%

Utilities

2.8%
2.4%

Real Estate

1.8%
1.9%

Technology

HCON.TO
23.9%
HXS.TO
35.6%

Financial Services

HCON.TO
21.3%
HXS.TO
11.8%

Industrials

HCON.TO
11.2%
HXS.TO
8.3%

Consumer Cyclical

HCON.TO
8.1%
HXS.TO
10.1%

Communication Services

HCON.TO
7.0%
HXS.TO
11.2%

Healthcare

HCON.TO
6.8%
HXS.TO
8.5%

Energy

HCON.TO
6.7%
HXS.TO
3.5%

Basic Materials

HCON.TO
5.6%
HXS.TO
1.8%

Consumer Defensive

HCON.TO
4.7%
HXS.TO
4.9%

Utilities

HCON.TO
2.8%
HXS.TO
2.4%

Real Estate

HCON.TO
1.8%
HXS.TO
1.9%

Compare stocks, funds, or ETFs

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Global X Conservative Asset Allocation ETF

Global X S&P 500 Index Corporate Class ETF

Often compared with HCON.TO:
HCON.TO vs. HBNK.TOHCON.TO vs. QQCC.TOHCON.TO vs. ZWQT.TOHCON.TO vs. CBIL.TOHCON.TO vs. FCGI.TOHCON.TO vs. HSAV.TOHCON.TO vs. TBAL.TO
Often compared with HXS.TO:
HXS.TO vs. HXQ.TOHXS.TO vs. VFV.TOHXS.TO vs. ZSP.TOHXS.TO vs. VOOHXS.TO vs. XUS.TOHXS.TO vs. SPYHXS.TO vs. TEC.TO

Return for Risk

HCON.TO vs. HXS.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HCON.TO
HCON.TO Risk / Return Rank: 6262
Overall Rank
HCON.TO Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
HCON.TO Sortino Ratio Rank: 6363
Sortino Ratio Rank
HCON.TO Omega Ratio Rank: 6969
Omega Ratio Rank
HCON.TO Calmar Ratio Rank: 5858
Calmar Ratio Rank
HCON.TO Martin Ratio Rank: 6262
Martin Ratio Rank
HXS.TO
HXS.TO Risk / Return Rank: 7171
Overall Rank
HXS.TO Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
HXS.TO Sortino Ratio Rank: 7373
Sortino Ratio Rank
HXS.TO Omega Ratio Rank: 7474
Omega Ratio Rank
HXS.TO Calmar Ratio Rank: 6666
Calmar Ratio Rank
HXS.TO Martin Ratio Rank: 6767
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.

HCON.TO vs. HXS.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 Global X S&P 500 Index Corporate Class ETF (HXS.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.

HCON.TOHXS.TODifference
Sharpe ratioReturn per unit of total volatility
2.00
2.46

-0.46

Sortino ratioReturn per unit of downside risk
2.87
3.36

-0.49

Omega ratioGain probability vs. loss probability

1.41

1.45

-0.05

Calmar ratioReturn relative to maximum drawdown

2.84

3.33

-0.49

Martin ratioReturn relative to average drawdown

10.89

12.62

-1.73

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

HCON.TO vs. HXS.TO - Sharpe Ratio Comparison

The current HCON.TO Sharpe Ratio is 2.00, which is comparable to the HXS.TO Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of HCON.TO and HXS.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.

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Sharpe Ratios by Period

HCON.TOHXS.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.00

2.46

-0.46

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.59

1.11

-0.51

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.97

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.60

1.02

-0.42

Drawdowns

HCON.TO vs. HXS.TO - Drawdown Comparison

The maximum HCON.TO drawdown since its inception was -22.98%, smaller than the maximum HXS.TO drawdown of -27.42%. Use the drawdown chart below to compare losses from any high point for HCON.TO and HXS.TO.

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Drawdown Indicators

HCON.TOHXS.TODifference

Max Drawdown

Largest peak-to-trough decline

-22.98%

-27.42%

+4.44%

Max Drawdown (1Y)

Largest decline over 1 year

-4.71%

-8.74%

+4.03%

Max Drawdown (3Y)

Largest decline over 3 years

-6.10%

-18.98%

+12.88%

Max Drawdown (5Y)

Largest decline over 5 years

-20.12%

-22.63%

+2.51%

Max Drawdown (10Y)

Largest decline over 10 years

—

-27.42%

—

Current Drawdown

Current decline from peak

0.00%

-0.27%

+0.27%

Average Drawdown

Average peak-to-trough decline

-4.32%

-3.54%

-0.78%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.23%

2.30%

-1.07%

Volatility

HCON.TO vs. HXS.TO - Volatility Comparison

The current volatility for Global X Conservative Asset Allocation ETF (HCON.TO) is 2.04%, while Global X S&P 500 Index Corporate Class ETF (HXS.TO) has a volatility of 3.27%. This indicates that HCON.TO experiences smaller price fluctuations and is considered to be less risky than HXS.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.TOHXS.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.04%

3.27%

-1.23%

Volatility (6M)

Calculated over the trailing 6-month period

5.36%

8.83%

-3.47%

Volatility (1Y)

Calculated over the trailing 1-year period

6.69%

11.85%

-5.16%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

8.71%

15.13%

-6.42%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

11.62%

16.53%

-4.91%

HCON.TO vs. HXS.TO - Expense Ratio Comparison

HCON.TO has a 0.22% expense ratio, which is higher than HXS.TO's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

HCON.TO vs. HXS.TO - Dividend Comparison

HCON.TO's dividend yield for the trailing twelve months is around 2.73%, while HXS.TO has not paid dividends to shareholders.

PositionTTM2025202420232022202120202019
HCON.TO
Global X Conservative Asset Allocation ETF		2.73%2.83%2.60%1.19%0.02%0.09%0.79%0.04%
HXS.TO
Global X S&P 500 Index Corporate Class ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

HCON.TO and HXS.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.

On fees, HXS.TO is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

HXS.TO is cheaper with a 0.10% expense ratio, compared with 0.22% for HCON.TO.

HCON.TO is categorized as Global Allocation, while HXS.TO is S&P 500. Their fees differ too: 0.22% for HCON.TO and 0.10% for HXS.TO.

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