PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
HFG.TO vs. XFN.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HFG.TO vs. XFN.TO

Last updated Jul 16, 2026
Documentation

HFG.TO (Hamilton Global Financials ETF) and XFN.TO (iShares S&P/TSX Capped Financials Index ETF) are both Financials Equities funds. HFG.TO is actively managed, while XFN.TO is passively managed. Over the past 5 years, HFG.TO returned 15.43%/yr vs 20.04%/yr for XFN.TO. A 0.55 correlation means they provide meaningful diversification when combined.

Performance

HFG.TO vs. XFN.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Hamilton Global Financials ETF (HFG.TO) and iShares S&P/TSX Capped Financials Index ETF (XFN.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, HFG.TO achieves a 7.76% return, which is significantly lower than XFN.TO's 26.99% return.

HFG.TO

1D
0.32%
1M
6.00%
6M
7.83%
YTD
7.76%
1Y
17.10%
3Y*
25.28%
5Y*
15.43%
10Y*
—

XFN.TO

1D
1.58%
1M
7.16%
6M
25.66%
YTD
26.99%
1Y
54.40%
3Y*
33.64%
5Y*
20.04%
10Y*
15.82%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HFG.TO vs. XFN.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HFG.TO
Hamilton Global Financials ETF		7.76%22.93%30.80%18.51%-9.52%30.39%15.62%16.95%-14.80%2.48%
XFN.TO
iShares S&P/TSX Capped Financials Index ETF		26.99%34.40%29.32%13.09%-9.92%35.57%0.99%20.66%-9.76%9.55%

Correlation

The correlation between HFG.TO and XFN.TO is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.49

Correlation (3Y)
Calculated over the trailing 3-year period

0.52

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

0.55

Correlation (All Time)
Calculated using the full available price history since Feb 7, 2017

0.55

The correlation between HFG.TO and XFN.TO has been stable across timeframes, ranging from 0.49 to 0.55 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Hamilton Global Financials ETF

iShares S&P/TSX Capped Financials Index ETF

Often compared with XFN.TO:
XFN.TO vs. VDY.TOXFN.TO vs. CEW.TOXFN.TO vs. FIE.TOXFN.TO vs. XIU.TOXFN.TO vs. VFV.TOXFN.TO vs. RY.TOXFN.TO vs. XUS-U.TO

Return for Risk

HFG.TO vs. XFN.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HFG.TO
HFG.TO Risk / Return Rank: 4242
Overall Rank
HFG.TO Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
HFG.TO Sortino Ratio Rank: 4545
Sortino Ratio Rank
HFG.TO Omega Ratio Rank: 4848
Omega Ratio Rank
HFG.TO Calmar Ratio Rank: 3636
Calmar Ratio Rank
HFG.TO Martin Ratio Rank: 3838
Martin Ratio Rank
XFN.TO
XFN.TO Risk / Return Rank: 9797
Overall Rank
XFN.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
XFN.TO Sortino Ratio Rank: 9797
Sortino Ratio Rank
XFN.TO Omega Ratio Rank: 9797
Omega Ratio Rank
XFN.TO Calmar Ratio Rank: 9696
Calmar Ratio Rank
XFN.TO Martin Ratio Rank: 9696
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.

HFG.TO vs. XFN.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hamilton Global Financials ETF (HFG.TO) and iShares S&P/TSX Capped Financials Index ETF (XFN.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.

HFG.TOXFN.TODifference
Sharpe ratioReturn per unit of total volatility
1.31
4.39

-3.08

Sortino ratioReturn per unit of downside risk
1.93
5.94

-4.01

Omega ratioGain probability vs. loss probability

1.26

1.78

-0.52

Calmar ratioReturn relative to maximum drawdown

1.57

7.01

-5.44

Martin ratioReturn relative to average drawdown

4.96

28.28

-23.32

HFG.TO vs. XFN.TO - Sharpe Ratio Comparison

The current HFG.TO Sharpe Ratio is 1.31, which is lower than the XFN.TO Sharpe Ratio of 4.39. The chart below compares the historical Sharpe Ratios of HFG.TO and XFN.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.

Loading charts...

Drawdowns

HFG.TO vs. XFN.TO - Drawdown Comparison

The maximum HFG.TO drawdown since its inception was -42.71%, smaller than the maximum XFN.TO drawdown of -55.53%. Use the drawdown chart below to compare losses from any high point for HFG.TO and XFN.TO.

Loading charts...

Drawdown Indicators

HFG.TOXFN.TODifference

Max Drawdown

Largest peak-to-trough decline

-42.71%

-55.53%

+12.82%

Max Drawdown (1Y)

Largest decline over 1 year

-10.95%

-7.80%

-3.15%

Max Drawdown (3Y)

Largest decline over 3 years

-13.64%

-12.37%

-1.27%

Max Drawdown (5Y)

Largest decline over 5 years

-20.20%

-21.90%

+1.70%

Max Drawdown (10Y)

Largest decline over 10 years

—

-39.93%

—

Current Drawdown

Current decline from peak

-0.54%

0.00%

-0.54%

Average Drawdown

Average peak-to-trough decline

-5.38%

-6.94%

+1.56%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.46%

1.93%

+1.53%

Volatility

HFG.TO vs. XFN.TO - Volatility Comparison

Hamilton Global Financials ETF (HFG.TO) has a higher volatility of 3.60% compared to iShares S&P/TSX Capped Financials Index ETF (XFN.TO) at 3.30%. This indicates that HFG.TO's price experiences larger fluctuations and is considered to be riskier than XFN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

HFG.TOXFN.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.60%

3.30%

+0.30%

Volatility (6M)

Calculated over the trailing 6-month period

10.69%

10.37%

+0.32%

Volatility (1Y)

Calculated over the trailing 1-year period

13.10%

12.48%

+0.62%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.03%

13.55%

+2.48%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.26%

16.51%

+3.75%

Dividends

HFG.TO vs. XFN.TO - Dividend Comparison

HFG.TO's dividend yield for the trailing twelve months is around 2.40%, more than XFN.TO's 1.92% yield.

PositionTTM20252024202320222021202020192018201720162015
HFG.TO
Hamilton Global Financials ETF		2.40%2.55%3.05%3.86%10.09%4.16%1.85%0.00%0.00%0.00%0.00%0.00%
XFN.TO
iShares S&P/TSX Capped Financials Index ETF		1.92%2.39%3.16%3.60%3.48%2.67%3.35%3.00%3.43%2.73%2.83%3.17%

Frequently Asked Questions

HFG.TO and XFN.TO have a correlation of 0.49, 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: Hamilton and iShares.

Portfolio Optimizer

Find the right allocation for HFG.TO and XFN.TO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer