HEQT.TO vs. CYH.TO
HEQT.TO (Horizons All-Equity Asset Allocation ETF) and CYH.TO (iShares Global Monthly Dividend Index ETF (CAD-Hedged)) are both Global Equities funds. HEQT.TO is actively managed, while CYH.TO is passively managed. Over the past 5 years, HEQT.TO returned 16.89%/yr vs 8.53%/yr for CYH.TO. A 0.55 correlation means they provide meaningful diversification when combined. HEQT.TO charges 0.20%/yr vs 0.66%/yr for CYH.TO.
Performance
HEQT.TO vs. CYH.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HEQT.TO achieves a 14.13% return, which is significantly higher than CYH.TO's 10.22% return.
HEQT.TO
- 1D
- 0.50%
- 1M
- 6.41%
- YTD
- 14.13%
- 6M
- 13.38%
- 1Y
- 32.17%
- 3Y*
- 25.88%
- 5Y*
- 16.89%
- 10Y*
- —
CYH.TO
- 1D
- 0.26%
- 1M
- -0.11%
- YTD
- 10.22%
- 6M
- 11.20%
- 1Y
- 23.68%
- 3Y*
- 16.48%
- 5Y*
- 8.53%
- 10Y*
- 8.21%
HEQT.TO vs. CYH.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
HEQT.TO Horizons All-Equity Asset Allocation ETF | 14.13% | 19.82% | 25.95% | 31.63% | -12.65% | 23.11% | 16.34% | 7.76% |
CYH.TO iShares Global Monthly Dividend Index ETF (CAD-Hedged) | 10.22% | 18.77% | 12.29% | 3.84% | -2.47% | 23.43% | -8.71% | 0.08% |
Correlation
The correlation between HEQT.TO and CYH.TO is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Sep 19, 2019 | 0.55 |
The correlation between HEQT.TO and CYH.TO has been stable across timeframes, ranging from 0.47 to 0.57 - a consistent structural relationship.
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Return for Risk
HEQT.TO vs. CYH.TO — Risk / Return Rank
HEQT.TO
CYH.TO
HEQT.TO vs. CYH.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Horizons All-Equity Asset Allocation ETF (HEQT.TO) and iShares Global Monthly Dividend Index ETF (CAD-Hedged) (CYH.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.
| HEQT.TO | CYH.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| Sortino ratioReturn per unit of downside risk | +0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.43 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.81 | 4.45 | -0.65 |
| Martin ratioReturn relative to average drawdown | 16.80 | 17.05 | -0.26 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HEQT.TO | CYH.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.70 | 2.39 | +0.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.11 | 0.63 | +0.47 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.49 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.06 | 0.33 | +0.73 |
Drawdowns
HEQT.TO vs. CYH.TO - Drawdown Comparison
The maximum HEQT.TO drawdown since its inception was -31.82%, smaller than the maximum CYH.TO drawdown of -61.48%. Use the drawdown chart below to compare losses from any high point for HEQT.TO and CYH.TO.
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Drawdown Indicators
| HEQT.TO | CYH.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.82% | -61.48% | +29.66% |
Max Drawdown (1Y)Largest decline over 1 year | -8.49% | -5.34% | -3.15% |
Max Drawdown (3Y)Largest decline over 3 years | -15.33% | -12.13% | -3.20% |
Max Drawdown (5Y)Largest decline over 5 years | -24.25% | -17.67% | -6.58% |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.30% | — |
Current DrawdownCurrent decline from peak | -0.08% | -1.30% | +1.22% |
Average DrawdownAverage peak-to-trough decline | -4.28% | -9.94% | +5.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.92% | 1.39% | +0.53% |
Volatility
HEQT.TO vs. CYH.TO - Volatility Comparison
Horizons All-Equity Asset Allocation ETF (HEQT.TO) has a higher volatility of 3.48% compared to iShares Global Monthly Dividend Index ETF (CAD-Hedged) (CYH.TO) at 2.62%. This indicates that HEQT.TO's price experiences larger fluctuations and is considered to be riskier than CYH.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HEQT.TO | CYH.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.48% | 2.62% | +0.86% |
Volatility (6M)Calculated over the trailing 6-month period | 9.68% | 7.13% | +2.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.96% | 9.96% | +2.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.33% | 13.58% | +1.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.16% | 17.02% | +0.14% |
HEQT.TO vs. CYH.TO - Expense Ratio Comparison
HEQT.TO has a 0.20% expense ratio, which is lower than CYH.TO's 0.66% expense ratio.
Dividends
HEQT.TO vs. CYH.TO - Dividend Comparison
HEQT.TO's dividend yield for the trailing twelve months is around 1.61%, less than CYH.TO's 3.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CYH.TO iShares Global Monthly Dividend Index ETF (CAD-Hedged) | 3.33% | 3.77% | 4.33% | 4.68% | 4.72% | 3.89% | 4.51% | 4.01% | 3.98% | 3.03% | 3.39% | 3.84% |
HEQT.TO Horizons All-Equity Asset Allocation ETF | 1.61% | 1.70% | 3.22% | 7.85% | 7.31% | 0.48% | 1.40% | 0.22% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HEQT.TO and CYH.TO have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HEQT.TO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HEQT.TO is cheaper with a 0.20% expense ratio, compared with 0.66% for CYH.TO.
They also come from different issuers: Horizons and iShares. Their fees differ too: 0.20% for HEQT.TO and 0.66% for CYH.TO.
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