HEB.TO vs. XIC.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Hamilton Canadian Bank Equal-Weight Index ETF (HEB.TO) and iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO).

HEB.TO and XIC.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HEB.TO is a passively managed fund by Hamilton that tracks the performance of the Solactive Equal Weight Canada Banks Index. It was launched on Apr 3, 2023. XIC.TO is a passively managed fund by iShares that tracks the performance of the Morningstar Canada GR CAD. It was launched on Feb 16, 2001. Both HEB.TO and XIC.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

HEB.TO vs. XIC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Hamilton Canadian Bank Equal-Weight Index ETF (HEB.TO) and iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO). The values are adjusted to include any dividend payments, if applicable.

HEB.TO vs. XIC.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HEB.TO Hamilton Canadian Bank Equal-Weight Index ETF	1.58%	44.00%	23.58%	8.60%
XIC.TO iShares Core S&P/TSX Capped Composite Index ETF	3.89%	31.51%	21.48%	5.90%

Returns By Period

In the year-to-date period, HEB.TO achieves a 1.58% return, which is significantly lower than XIC.TO's 3.89% return.

HEB.TO

• 1D: 2.50%
• 1M: -4.22%
• YTD: 1.58%
• 6M: 14.53%
• 1Y: 51.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XIC.TO

• 1D: 2.55%
• 1M: -4.36%
• YTD: 3.89%
• 6M: 10.31%
• 1Y: 34.58%
• 3Y*: 21.07%
• 5Y*: 14.44%
• 10Y*: 12.45%

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

HEB.TO vs. XIC.TO - Expense Ratio Comparison

HEB.TO has a 0.19% expense ratio, which is higher than XIC.TO's 0.06% 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%.

HEB.TO

Hamilton Canadian Bank Equal-Weight Index ETF

XIC.TO

iShares Core S&P/TSX Capped Composite Index ETF

Return for Risk

HEB.TO vs. XIC.TO — Risk / Return Rank

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

HEB.TO

HEB.TO Risk / Return Rank: 98
HEB.TO Sharpe Ratio Rank: 98
HEB.TO Sortino Ratio Rank: 98
HEB.TO Omega Ratio Rank: 98
HEB.TO Calmar Ratio Rank: 98
HEB.TO Martin Ratio Rank: 98

XIC.TO

XIC.TO Risk / Return Rank: 94
XIC.TO Sharpe Ratio Rank: 95
XIC.TO Sortino Ratio Rank: 94
XIC.TO Omega Ratio Rank: 95
XIC.TO Calmar Ratio Rank: 92
XIC.TO Martin Ratio Rank: 95

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.

HEB.TO vs. XIC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hamilton Canadian Bank Equal-Weight Index ETF (HEB.TO) and iShares Core S&P/TSX Capped Composite Index ETF (XIC.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.

	HEB.TO	XIC.TO	Difference
Sharpe ratio Return per unit of total volatility	3.84	2.27	+1.56
Sortino ratio Return per unit of downside risk	4.89	2.87	+2.03
Omega ratio Gain probability vs. loss probability	1.74	1.45	+0.29
Calmar ratio Return relative to maximum drawdown	5.92	3.25	+2.68
Martin ratio Return relative to average drawdown	25.35	14.62	+10.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HEB.TO vs. XIC.TO - Sharpe Ratio Comparison

The current HEB.TO Sharpe Ratio is 3.84, which is higher than the XIC.TO Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of HEB.TO and XIC.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.

Sharpe Ratios by Period

	HEB.TO	XIC.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.84	2.27	+1.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.11	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.84	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.01	0.53	+1.48

Correlation

The correlation between HEB.TO and XIC.TO is 0.65, 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

HEB.TO vs. XIC.TO - Dividend Comparison

HEB.TO's dividend yield for the trailing twelve months is around 2.97%, more than XIC.TO's 2.16% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HEB.TO Hamilton Canadian Bank Equal-Weight Index ETF	2.97%	3.20%	4.24%	3.75%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XIC.TO iShares Core S&P/TSX Capped Composite Index ETF	2.16%	2.23%	2.64%	2.95%	3.10%	2.44%	3.03%	3.01%	3.19%	2.49%	2.72%	3.21%

Drawdowns

HEB.TO vs. XIC.TO - Drawdown Comparison

The maximum HEB.TO drawdown since its inception was -14.82%, smaller than the maximum XIC.TO drawdown of -48.21%. Use the drawdown chart below to compare losses from any high point for HEB.TO and XIC.TO.

Drawdown Indicators

	HEB.TO	XIC.TO	Difference
Max Drawdown Largest peak-to-trough decline	-14.82%	-48.21%	+33.39%
Max Drawdown (1Y) Largest decline over 1 year	-8.86%	-10.98%	+2.12%
Max Drawdown (5Y) Largest decline over 5 years	—	-16.24%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-37.21%	—
Current Drawdown Current decline from peak	-6.09%	-4.95%	-1.14%
Average Drawdown Average peak-to-trough decline	-2.51%	-7.08%	+4.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	2.44%	-0.37%

Volatility

HEB.TO vs. XIC.TO - Volatility Comparison

Hamilton Canadian Bank Equal-Weight Index ETF (HEB.TO) and iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO) have volatilities of 6.09% and 5.98%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HEB.TO	XIC.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.09%	5.98%	+0.11%
Volatility (6M) Calculated over the trailing 6-month period	10.25%	10.89%	-0.64%
Volatility (1Y) Calculated over the trailing 1-year period	13.52%	15.30%	-1.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.68%	13.07%	-0.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.68%	14.93%	-2.25%