HLIT.TO vs. ANET

Last updated Jun 4, 2026

HLIT.TO (Global X Lithium Producers Index ETF) is Commodity Producers Equities fund tracking the Solactive Global Lithium Producers Index, while ANET (Arista Networks, Inc.) is a stock. Over the past 3 years, HLIT.TO returned -8.89%/yr vs 64.40%/yr for ANET. At a 0.22 correlation, their price movements are largely independent.

Performance

HLIT.TO vs. ANET - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Lithium Producers Index ETF (HLIT.TO) and Arista Networks, Inc. (ANET). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HLIT.TO is traded in CAD, while ANET is traded in USD. To make them comparable, the ANET values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, HLIT.TO achieves a 25.27% return, which is significantly lower than ANET's 34.77% return.

HLIT.TO

• 1D: -2.47%
• 1M: -5.96%
• YTD: 25.27%
• 6M: 34.39%
• 1Y: 134.51%
• 3Y*: -8.89%
• 5Y*: —
• 10Y*: —

ANET

• 1D: -0.14%
• 1M: 3.03%
• YTD: 34.77%
• 6M: 35.91%
• 1Y: 86.90%
• 3Y*: 64.40%
• 5Y*: 55.76%
• 10Y*: 44.59%

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

HLIT.TO vs. ANET - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
HLIT.TO Global X Lithium Producers Index ETF	25.27%	42.90%	-43.73%	-17.02%	-5.87%	46.00%
ANET Arista Networks, Inc.	34.77%	13.11%	103.86%	89.80%	-9.57%	62.12%

Correlation

The correlation between HLIT.TO and ANET is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (All Time) Calculated using the full available price history since Jun 23, 2021	0.22

Return for Risk

HLIT.TO vs. ANET — Risk / Return Rank

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

HLIT.TO

HLIT.TO Risk / Return Rank: 87
HLIT.TO Sharpe Ratio Rank: 94
HLIT.TO Sortino Ratio Rank: 84
HLIT.TO Omega Ratio Rank: 79
HLIT.TO Calmar Ratio Rank: 90
HLIT.TO Martin Ratio Rank: 89

ANET

ANET Risk / Return Rank: 79
ANET Sharpe Ratio Rank: 83
ANET Sortino Ratio Rank: 77
ANET Omega Ratio Rank: 76
ANET Calmar Ratio Rank: 82
ANET Martin Ratio Rank: 79

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.

HLIT.TO vs. ANET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Lithium Producers Index ETF (HLIT.TO) and Arista Networks, Inc. (ANET). 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.

	HLIT.TO	ANET	Difference
Sharpe ratio: Return per unit of total volatility	3.55	1.69	+1.86
Sortino ratio: Return per unit of downside risk	3.79	2.24	+1.54
Omega ratio: Gain probability vs. loss probability	1.47	1.29	+0.18
Calmar ratio: Return relative to maximum drawdown	5.70	3.07	+2.63
Martin ratio: Return relative to average drawdown	20.16	6.27	+13.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HLIT.TO vs. ANET - Sharpe Ratio Comparison

The current HLIT.TO Sharpe Ratio is 3.55, which is higher than the ANET Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of HLIT.TO and ANET, 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

	HLIT.TO	ANET	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.55	1.69	+1.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.22	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.01	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.07	0.93	-0.86

Drawdowns

HLIT.TO vs. ANET - Drawdown Comparison

The maximum HLIT.TO drawdown since its inception was -77.20%, which is greater than ANET's maximum drawdown of -50.94%. Use the drawdown chart below to compare losses from any high point for HLIT.TO and ANET.

Drawdown Indicators

	HLIT.TO	ANET	Difference
Max Drawdown Largest peak-to-trough decline	-77.20%	-50.94%	-26.26%
Max Drawdown (1Y) Largest decline over 1 year	-23.73%	-28.43%	+4.70%
Max Drawdown (3Y) Largest decline over 3 years	-74.44%	-50.94%	-23.50%
Max Drawdown (5Y) Largest decline over 5 years	—	-50.94%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-50.94%	—
Current Drawdown Current decline from peak	-38.85%	-0.27%	-38.58%
Average Drawdown Average peak-to-trough decline	-37.70%	-14.18%	-23.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.70%	13.90%	-7.20%

Volatility

HLIT.TO vs. ANET - Volatility Comparison

The current volatility for Global X Lithium Producers Index ETF (HLIT.TO) is 8.90%, while Arista Networks, Inc. (ANET) has a volatility of 21.13%. This indicates that HLIT.TO experiences smaller price fluctuations and is considered to be less risky than ANET based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HLIT.TO	ANET	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.90%	21.13%	-12.23%
Volatility (6M) Calculated over the trailing 6-month period	27.73%	38.69%	-10.96%
Volatility (1Y) Calculated over the trailing 1-year period	38.13%	52.04%	-13.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.56%	46.08%	-7.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.56%	44.15%	-5.59%

Dividends

HLIT.TO vs. ANET - Dividend Comparison

HLIT.TO's dividend yield for the trailing twelve months is around 0.09%, while ANET has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
ANET Arista Networks, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%
HLIT.TO Global X Lithium Producers Index ETF	0.09%	0.12%	2.24%	2.58%	1.88%

Frequently Asked Questions

Can I hold both HLIT.TO and ANET in my portfolio?

HLIT.TO and ANET have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.