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HFR.TO vs. HBNK.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HFR.TO vs. HBNK.TO

Last updated Jun 4, 2026

HFR.TO (Global X Active Ultra-Short Term Investment Grade Bond ETF) and HBNK.TO (Global X Equal Weight Banks Index ETF) are both exchange-traded funds - HFR.TO is a Ultrashort Bond fund actively managed by Global X, while HBNK.TO is a Financials Equities fund tracking the Solactive Equal Weight Canada Banks Index. HFR.TO is actively managed, while HBNK.TO is passively managed. Over the past year, HFR.TO returned 3.76% vs 60.09% for HBNK.TO. At a 0.11 correlation, their price movements are largely independent. HFR.TO charges 0.46%/yr vs 0.09%/yr for HBNK.TO.

Performance

HFR.TO vs. HBNK.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Active Ultra-Short Term Investment Grade Bond ETF (HFR.TO) and Global X Equal Weight Banks Index ETF (HBNK.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, HFR.TO achieves a 1.32% return, which is significantly lower than HBNK.TO's 18.85% return.

HFR.TO

1D
0.05%
1M
0.54%
YTD
1.32%
6M
1.44%
1Y
3.76%
3Y*
5.69%
5Y*
3.88%
10Y*
3.28%

HBNK.TO

1D
-0.88%
1M
5.21%
YTD
18.85%
6M
24.41%
1Y
60.09%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

HFR.TO vs. HBNK.TO - Yearly Performance Comparison

2026 (YTD)202520242023
HFR.TO
Global X Active Ultra-Short Term Investment Grade Bond ETF		1.32%4.04%6.89%4.17%
HBNK.TO
Global X Equal Weight Banks Index ETF		18.85%43.71%24.77%8.99%

Correlation

The correlation between HFR.TO and HBNK.TO is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.15

Correlation (All Time)
Calculated using the full available price history since Jul 10, 2023

0.11

Compare stocks, funds, or ETFs

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

Global X Active Ultra-Short Term Investment Grade Bond ETF

Global X Equal Weight Banks Index ETF

Often compared with HFR.TO:
HFR.TO vs. MNU-U.TOHFR.TO vs. VVSG.TOHFR.TO vs. HSAV.TOHFR.TO vs. QQCL.TOHFR.TO vs. CBIL.TOHFR.TO vs. QQCC.TOHFR.TO vs. CHPS.TO
Often compared with HBNK.TO:
HBNK.TO vs. ZEB.TOHBNK.TO vs. HCAL.TOHBNK.TO vs. XEQT.TOHBNK.TO vs. XDIV.TOHBNK.TO vs. EBNK.TOHBNK.TO vs. FIE.TOHBNK.TO vs. HMAX.TO

Return for Risk

HFR.TO vs. HBNK.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HFR.TO
HFR.TO Risk / Return Rank: 9595
Overall Rank
HFR.TO Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
HFR.TO Sortino Ratio Rank: 9595
Sortino Ratio Rank
HFR.TO Omega Ratio Rank: 9696
Omega Ratio Rank
HFR.TO Calmar Ratio Rank: 9696
Calmar Ratio Rank
HFR.TO Martin Ratio Rank: 9696
Martin Ratio Rank
HBNK.TO
HBNK.TO Risk / Return Rank: 9696
Overall Rank
HBNK.TO Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
HBNK.TO Sortino Ratio Rank: 9797
Sortino Ratio Rank
HBNK.TO Omega Ratio Rank: 9797
Omega Ratio Rank
HBNK.TO Calmar Ratio Rank: 9494
Calmar Ratio Rank
HBNK.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.

HFR.TO vs. HBNK.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Active Ultra-Short Term Investment Grade Bond ETF (HFR.TO) and Global X Equal Weight Banks Index ETF (HBNK.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.

HFR.TOHBNK.TODifference
Sharpe ratioReturn per unit of total volatility
3.15
4.77

-1.61

Sortino ratioReturn per unit of downside risk
5.15
6.50

-1.35

Omega ratioGain probability vs. loss probability

1.79

1.88

-0.09

Calmar ratioReturn relative to maximum drawdown

9.43

7.13

+2.30

Martin ratioReturn relative to average drawdown

37.37

30.99

+6.38

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

HFR.TO vs. HBNK.TO - Sharpe Ratio Comparison

The current HFR.TO Sharpe Ratio is 3.15, which is lower than the HBNK.TO Sharpe Ratio of 4.77. The chart below compares the historical Sharpe Ratios of HFR.TO and HBNK.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

HFR.TOHBNK.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.15

4.77

-1.61

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

2.21

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.57

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.60

2.66

-2.06

Drawdowns

HFR.TO vs. HBNK.TO - Drawdown Comparison

The maximum HFR.TO drawdown since its inception was -22.56%, which is greater than HBNK.TO's maximum drawdown of -14.78%. Use the drawdown chart below to compare losses from any high point for HFR.TO and HBNK.TO.

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Drawdown Indicators

HFR.TOHBNK.TODifference

Max Drawdown

Largest peak-to-trough decline

-22.56%

-14.78%

-7.78%

Max Drawdown (1Y)

Largest decline over 1 year

-0.40%

-8.48%

+8.08%

Max Drawdown (3Y)

Largest decline over 3 years

-0.52%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-3.52%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-22.56%

—

—

Current Drawdown

Current decline from peak

-0.05%

-2.30%

+2.25%

Average Drawdown

Average peak-to-trough decline

-0.38%

-2.33%

+1.95%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.10%

1.95%

-1.85%

Volatility

HFR.TO vs. HBNK.TO - Volatility Comparison

The current volatility for Global X Active Ultra-Short Term Investment Grade Bond ETF (HFR.TO) is 0.28%, while Global X Equal Weight Banks Index ETF (HBNK.TO) has a volatility of 5.00%. This indicates that HFR.TO experiences smaller price fluctuations and is considered to be less risky than HBNK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HFR.TOHBNK.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.28%

5.00%

-4.72%

Volatility (6M)

Calculated over the trailing 6-month period

0.81%

11.26%

-10.45%

Volatility (1Y)

Calculated over the trailing 1-year period

1.20%

12.67%

-11.47%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

1.76%

12.70%

-10.94%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.77%

12.70%

-6.93%

HFR.TO vs. HBNK.TO - Expense Ratio Comparison

HFR.TO has a 0.46% expense ratio, which is higher than HBNK.TO's 0.09% expense ratio.

Dividends

HFR.TO vs. HBNK.TO - Dividend Comparison

HFR.TO's dividend yield for the trailing twelve months is around 3.65%, more than HBNK.TO's 2.82% yield.

PositionTTM20252024202320222021202020192018201720162015
HBNK.TO
Global X Equal Weight Banks Index ETF		2.82%3.24%4.15%2.45%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
HFR.TO
Global X Active Ultra-Short Term Investment Grade Bond ETF		3.65%3.76%4.50%5.67%3.39%1.29%2.69%2.61%2.35%2.12%1.97%2.13%

Frequently Asked Questions

HFR.TO and HBNK.TO have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, HBNK.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

HBNK.TO is cheaper with a 0.09% expense ratio, compared with 0.46% for HFR.TO.

HFR.TO is categorized as Ultrashort Bond, while HBNK.TO is Financials Equities. Their fees differ too: 0.46% for HFR.TO and 0.09% for HBNK.TO.

Portfolio Optimizer

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