HGR.TO vs. XHB.TO

Last updated Jun 4, 2026

HGR.TO (Harvest Global REIT Leaders Income ETF) and XHB.TO (iShares Canadian HYBrid Corporate Bond Index ETF) are both exchange-traded funds - HGR.TO is a REIT fund actively managed by Harvest, while XHB.TO is a Corporate Bonds fund tracking the Morningstar Can Corp Bd GR CAD. HGR.TO is actively managed, while XHB.TO is passively managed. Over the past 5 years, HGR.TO returned -2.51%/yr vs 5.68%/yr for XHB.TO. At a 0.15 correlation, their price movements are largely independent. HGR.TO charges 0.85%/yr vs 0.50%/yr for XHB.TO.

Performance

HGR.TO vs. XHB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Harvest Global REIT Leaders Income ETF (HGR.TO) and iShares Canadian HYBrid Corporate Bond Index ETF (XHB.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HGR.TO achieves a 5.14% return, which is significantly higher than XHB.TO's 2.17% return.

HGR.TO

• 1D: -0.56%
• 1M: 0.28%
• YTD: 5.14%
• 6M: 4.47%
• 1Y: 1.96%
• 3Y*: 4.60%
• 5Y*: -2.51%
• 10Y*: —

XHB.TO

• 1D: 0.00%
• 1M: 1.76%
• YTD: 2.17%
• 6M: 2.20%
• 1Y: 5.90%
• 3Y*: 9.70%
• 5Y*: 5.68%
• 10Y*: 5.63%

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

HGR.TO vs. XHB.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HGR.TO Harvest Global REIT Leaders Income ETF	5.14%	-0.91%	2.46%	4.01%	-31.59%	24.87%	-8.27%	22.05%	-5.71%	3.95%
XHB.TO iShares Canadian HYBrid Corporate Bond Index ETF	2.17%	5.34%	11.53%	14.52%	-6.53%	2.10%	11.03%	10.73%	0.59%	1.20%

Correlation

The correlation between HGR.TO and XHB.TO is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (All Time) Calculated using the full available price history since Jul 4, 2017	0.15

The correlation between HGR.TO and XHB.TO shifts across timeframes, from 0.15 (all time) to 0.31 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

HGR.TO vs. XHB.TO — Risk / Return Rank

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

HGR.TO

HGR.TO Risk / Return Rank: 11
HGR.TO Sharpe Ratio Rank: 11
HGR.TO Sortino Ratio Rank: 10
HGR.TO Omega Ratio Rank: 10
HGR.TO Calmar Ratio Rank: 12
HGR.TO Martin Ratio Rank: 12

XHB.TO

XHB.TO Risk / Return Rank: 51
XHB.TO Sharpe Ratio Rank: 52
XHB.TO Sortino Ratio Rank: 54
XHB.TO Omega Ratio Rank: 52
XHB.TO Calmar Ratio Rank: 50
XHB.TO Martin Ratio Rank: 49

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.

HGR.TO vs. XHB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harvest Global REIT Leaders Income ETF (HGR.TO) and iShares Canadian HYBrid Corporate Bond Index ETF (XHB.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.

	HGR.TO	XHB.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.15	1.80	-1.65
Sortino ratio: Return per unit of downside risk	0.31	2.62	-2.31
Omega ratio: Gain probability vs. loss probability	1.04	1.33	-0.29
Calmar ratio: Return relative to maximum drawdown	0.24	2.45	-2.21
Martin ratio: Return relative to average drawdown	0.60	8.07	-7.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HGR.TO vs. XHB.TO - Sharpe Ratio Comparison

The current HGR.TO Sharpe Ratio is 0.15, which is lower than the XHB.TO Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of HGR.TO and XHB.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.

Sharpe Ratios by Period

	HGR.TO	XHB.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.15	1.80	-1.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.15	1.02	-1.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.51	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.02	0.58	-0.56

Drawdowns

HGR.TO vs. XHB.TO - Drawdown Comparison

The maximum HGR.TO drawdown since its inception was -41.33%, which is greater than XHB.TO's maximum drawdown of -26.03%. Use the drawdown chart below to compare losses from any high point for HGR.TO and XHB.TO.

Drawdown Indicators

	HGR.TO	XHB.TO	Difference
Max Drawdown Largest peak-to-trough decline	-41.33%	-26.03%	-15.30%
Max Drawdown (1Y) Largest decline over 1 year	-8.05%	-2.42%	-5.63%
Max Drawdown (3Y) Largest decline over 3 years	-16.37%	-2.42%	-13.95%
Max Drawdown (5Y) Largest decline over 5 years	-41.33%	-11.83%	-29.50%
Max Drawdown (10Y) Largest decline over 10 years	—	-26.03%	—
Current Drawdown Current decline from peak	-24.33%	0.00%	-24.33%
Average Drawdown Average peak-to-trough decline	-16.82%	-1.59%	-15.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.26%	0.73%	+2.53%

Volatility

HGR.TO vs. XHB.TO - Volatility Comparison

Harvest Global REIT Leaders Income ETF (HGR.TO) has a higher volatility of 3.85% compared to iShares Canadian HYBrid Corporate Bond Index ETF (XHB.TO) at 1.17%. This indicates that HGR.TO's price experiences larger fluctuations and is considered to be riskier than XHB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HGR.TO	XHB.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.85%	1.17%	+2.68%
Volatility (6M) Calculated over the trailing 6-month period	10.35%	2.62%	+7.73%
Volatility (1Y) Calculated over the trailing 1-year period	13.43%	3.32%	+10.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.82%	5.61%	+11.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.31%	11.05%	+7.26%

HGR.TO vs. XHB.TO - Expense Ratio Comparison

HGR.TO has a 0.85% expense ratio, which is higher than XHB.TO's 0.50% expense ratio.

Dividends

HGR.TO vs. XHB.TO - Dividend Comparison

HGR.TO's dividend yield for the trailing twelve months is around 10.27%, more than XHB.TO's 4.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HGR.TO Harvest Global REIT Leaders Income ETF	10.27%	10.35%	9.32%	8.72%	8.30%	5.28%	6.22%	5.36%	6.19%	2.75%	0.00%	0.00%
XHB.TO iShares Canadian HYBrid Corporate Bond Index ETF	4.52%	4.48%	7.49%	8.06%	7.74%	5.57%	5.47%	5.75%	4.07%	4.08%	4.35%	4.78%

Frequently Asked Questions

Can I hold both HGR.TO and XHB.TO in my portfolio?

HGR.TO and XHB.TO have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HGR.TO or XHB.TO?

On fees, XHB.TO is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HGR.TO or XHB.TO?

XHB.TO is cheaper with a 0.50% expense ratio, compared with 0.85% for HGR.TO.

What is the main difference between HGR.TO and XHB.TO?

HGR.TO is categorized as REIT, while XHB.TO is Corporate Bonds. They also come from different issuers: Harvest and iShares. Their fees differ too: 0.85% for HGR.TO and 0.50% for XHB.TO.