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HEQL.TO vs. XIC.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

HEQL.TO vs. XIC.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Global X Enhanced All-Equity Asset Allocation ETF CAD (HEQL.TO) and iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO).

HEQL.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. HEQL.TO is an actively managed fund by Global X. It was launched on Oct 10, 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.

Performance

HEQL.TO vs. XIC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Enhanced All-Equity Asset Allocation ETF CAD (HEQL.TO) and iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO). The values are adjusted to include any dividend payments, if applicable.

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

2026 (YTD)202520242023
HEQL.TO
Global X Enhanced All-Equity Asset Allocation ETF CAD		0.05%22.78%28.97%8.75%
XIC.TO
iShares Core S&P/TSX Capped Composite Index ETF		3.89%31.51%21.48%8.25%

Returns By Period

In the year-to-date period, HEQL.TO achieves a 0.05% return, which is significantly lower than XIC.TO's 3.89% return.

HEQL.TO

1D
3.03%
1M
-5.59%
YTD
0.05%
6M
3.41%
1Y
23.67%
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)

Compare stocks, funds, or ETFs

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Global X Enhanced All-Equity Asset Allocation ETF CAD

iShares Core S&P/TSX Capped Composite Index ETF

Often compared with HEQL.TO:
HEQL.TO vs. XEQT.TOHEQL.TO vs. EQCL.TOHEQL.TO vs. FEQT.NEOHEQL.TO vs. MIX.TOHEQL.TO vs. VDY.TOHEQL.TO vs. CLSA.TOHEQL.TO vs. HEQT.TO
Often compared with XIC.TO:
XIC.TO vs. XIU.TOXIC.TO vs. VDY.TOXIC.TO vs. ZCN.TOXIC.TO vs. VCE.TOXIC.TO vs. XEF.TOXIC.TO vs. VEQT.TOXIC.TO vs. VO

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

HEQL.TO has a 1.46% expense ratio, which is higher than XIC.TO's 0.06% expense ratio.

HEQL.TO
Global X Enhanced All-Equity Asset Allocation ETF CAD
XIC.TO
iShares Core S&P/TSX Capped Composite Index ETF

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HEQL.TO
HEQL.TO Risk / Return Rank: 5959
Overall Rank
HEQL.TO Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
HEQL.TO Sortino Ratio Rank: 7373
Sortino Ratio Rank
HEQL.TO Omega Ratio Rank: 7171
Omega Ratio Rank
HEQL.TO Calmar Ratio Rank: 3737
Calmar Ratio Rank
HEQL.TO Martin Ratio Rank: 4242
Martin Ratio Rank
XIC.TO
XIC.TO Risk / Return Rank: 9494
Overall Rank
XIC.TO Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
XIC.TO Sortino Ratio Rank: 9494
Sortino Ratio Rank
XIC.TO Omega Ratio Rank: 9595
Omega Ratio Rank
XIC.TO Calmar Ratio Rank: 9292
Calmar Ratio Rank
XIC.TO Martin Ratio Rank: 9595
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.

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

This table presents a comparison of risk-adjusted performance metrics for Global X Enhanced All-Equity Asset Allocation ETF CAD (HEQL.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.

HEQL.TOXIC.TODifference

Sharpe ratio

Return per unit of total volatility

1.24

2.27

-1.03

Sortino ratio

Return per unit of downside risk

1.82

2.87

-1.05

Omega ratio

Gain probability vs. loss probability

1.26

1.45

-0.20

Calmar ratio

Return relative to maximum drawdown

0.89

3.25

-2.36

Martin ratio

Return relative to average drawdown

3.82

14.62

-10.80

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

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

The current HEQL.TO Sharpe Ratio is 1.24, which is lower than the XIC.TO Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of HEQL.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.

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Sharpe Ratios by Period

HEQL.TOXIC.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.24

2.27

-1.03

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

1.70

0.53

+1.18

Correlation

The correlation between HEQL.TO and XIC.TO is 0.56, 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

HEQL.TO vs. XIC.TO - Dividend Comparison

HEQL.TO's dividend yield for the trailing twelve months is around 1.67%, less than XIC.TO's 2.16% yield.

TTM20252024202320222021202020192018201720162015
HEQL.TO
Global X Enhanced All-Equity Asset Allocation ETF CAD		1.67%1.82%1.75%0.55%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

HEQL.TO vs. XIC.TO - Drawdown Comparison

The maximum HEQL.TO drawdown since its inception was -19.86%, smaller than the maximum XIC.TO drawdown of -48.21%. Use the drawdown chart below to compare losses from any high point for HEQL.TO and XIC.TO.

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Drawdown Indicators

HEQL.TOXIC.TODifference

Max Drawdown

Largest peak-to-trough decline

-19.86%

-48.21%

+28.35%

Max Drawdown (1Y)

Largest decline over 1 year

-15.14%

-10.98%

-4.16%

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

-6.79%

-4.95%

-1.84%

Average Drawdown

Average peak-to-trough decline

-1.91%

-7.08%

+5.17%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.63%

2.44%

+2.19%

Volatility

HEQL.TO vs. XIC.TO - Volatility Comparison

Global X Enhanced All-Equity Asset Allocation ETF CAD (HEQL.TO) has a higher volatility of 7.68% compared to iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO) at 5.98%. This indicates that HEQL.TO's price experiences larger fluctuations and is considered to be riskier than XIC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HEQL.TOXIC.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

7.68%

5.98%

+1.70%

Volatility (6M)

Calculated over the trailing 6-month period

12.31%

10.89%

+1.42%

Volatility (1Y)

Calculated over the trailing 1-year period

21.32%

15.30%

+6.02%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.57%

13.07%

+5.50%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.57%

14.93%

+3.64%