HLPR.TO vs. HXH.TO

Last updated Jul 15, 2026

HLPR.TO (Global X Laddered Canadian Preferred Share Index Corporate Class ETF) and HXH.TO (Global X Canadian High Dividend Index Corporate Class ETF) are both exchange-traded funds - HLPR.TO is a Preferred Stock/Convertible Bonds fund tracking the Solactive Laddered Canadian Preferred Share Index, while HXH.TO is a Canada Equities fund tracking the Solactive Canadian High Dividend Yield Index. Both are passively managed. Over the past 5 years, HLPR.TO returned 7.60%/yr vs 16.78%/yr for HXH.TO. At a 0.25 correlation, their price movements are largely independent. HLPR.TO charges 0.30%/yr vs 0.11%/yr for HXH.TO.

Performance

HLPR.TO vs. HXH.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Laddered Canadian Preferred Share Index Corporate Class ETF (HLPR.TO) and Global X Canadian High Dividend Index Corporate Class ETF (HXH.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HLPR.TO achieves a 7.70% return, which is significantly lower than HXH.TO's 23.68% return.

HLPR.TO

• 1D: -0.22%
• 1M: 1.69%
• 6M: 6.95%
• YTD: 7.70%
• 1Y: 16.25%
• 3Y*: 19.59%
• 5Y*: 7.60%
• 10Y*: —

HXH.TO

• 1D: -0.06%
• 1M: 1.00%
• 6M: 22.07%
• YTD: 23.68%
• 1Y: 41.35%
• 3Y*: 23.00%
• 5Y*: 16.78%
• 10Y*: 11.82%

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

HLPR.TO vs. HXH.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
HLPR.TO Global X Laddered Canadian Preferred Share Index Corporate Class ETF	7.70%	18.79%	28.13%	2.89%	-17.83%	23.17%	6.42%	0.80%
HXH.TO Global X Canadian High Dividend Index Corporate Class ETF	23.68%	25.86%	15.24%	6.33%	5.00%	34.51%	-7.66%	7.52%

Correlation

The correlation between HLPR.TO and HXH.TO is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.22
Correlation (All Time) Calculated using the full available price history since Feb 27, 2019	0.25

Over the past year, the correlation between HLPR.TO and HXH.TO has dropped to 0.01 - well below their long-term average of 0.25, suggesting their price drivers have been diverging.

Return for Risk

HLPR.TO vs. HXH.TO — Risk / Return Rank

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

HLPR.TO

HLPR.TO Risk / Return Rank: 97
HLPR.TO Sharpe Ratio Rank: 97
HLPR.TO Sortino Ratio Rank: 97
HLPR.TO Omega Ratio Rank: 97
HLPR.TO Calmar Ratio Rank: 96
HLPR.TO Martin Ratio Rank: 97

HXH.TO

HXH.TO Risk / Return Rank: 98
HXH.TO Sharpe Ratio Rank: 98
HXH.TO Sortino Ratio Rank: 98
HXH.TO Omega Ratio Rank: 98
HXH.TO Calmar Ratio Rank: 99
HXH.TO Martin Ratio Rank: 98

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.

HLPR.TO vs. HXH.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Laddered Canadian Preferred Share Index Corporate Class ETF (HLPR.TO) and Global X Canadian High Dividend Index Corporate Class ETF (HXH.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.

	HLPR.TO	HXH.TO	Difference
Sharpe ratio: Return per unit of total volatility	3.77	4.93	-1.16
Sortino ratio: Return per unit of downside risk	5.27	7.50	-2.23
Omega ratio: Gain probability vs. loss probability	1.82	2.04	-0.22
Calmar ratio: Return relative to maximum drawdown	6.57	16.46	-9.89
Martin ratio: Return relative to average drawdown	37.55	49.61	-12.06

HLPR.TO vs. HXH.TO - Sharpe Ratio Comparison

The current HLPR.TO Sharpe Ratio is 3.77, which is comparable to the HXH.TO Sharpe Ratio of 4.93. The chart below compares the historical Sharpe Ratios of HLPR.TO and HXH.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.

Drawdowns

HLPR.TO vs. HXH.TO - Drawdown Comparison

The maximum HLPR.TO drawdown since its inception was -38.96%, roughly equal to the maximum HXH.TO drawdown of -40.80%. Use the drawdown chart below to compare losses from any high point for HLPR.TO and HXH.TO.

Drawdown Indicators

	HLPR.TO	HXH.TO	Difference
Max Drawdown Largest peak-to-trough decline	-38.96%	-40.80%	+1.84%
Max Drawdown (1Y) Largest decline over 1 year	-2.49%	-2.52%	+0.03%
Max Drawdown (3Y) Largest decline over 3 years	-9.88%	-10.55%	+0.67%
Max Drawdown (5Y) Largest decline over 5 years	-26.79%	-15.48%	-11.31%
Max Drawdown (10Y) Largest decline over 10 years	—	-40.80%	—
Current Drawdown Current decline from peak	-0.22%	-0.06%	-0.16%
Average Drawdown Average peak-to-trough decline	-6.48%	-4.81%	-1.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.43%	0.84%	-0.41%

Volatility

HLPR.TO vs. HXH.TO - Volatility Comparison

The current volatility for Global X Laddered Canadian Preferred Share Index Corporate Class ETF (HLPR.TO) is 1.07%, while Global X Canadian High Dividend Index Corporate Class ETF (HXH.TO) has a volatility of 2.56%. This indicates that HLPR.TO experiences smaller price fluctuations and is considered to be less risky than HXH.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HLPR.TO	HXH.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.07%	2.56%	-1.49%
Volatility (6M) Calculated over the trailing 6-month period	2.82%	6.67%	-3.85%
Volatility (1Y) Calculated over the trailing 1-year period	4.33%	8.47%	-4.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.34%	12.16%	-3.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.01%	16.01%	-3.00%

HLPR.TO vs. HXH.TO - Expense Ratio Comparison

HLPR.TO has a 0.30% expense ratio, which is higher than HXH.TO's 0.11% expense ratio.

Dividends

HLPR.TO vs. HXH.TO - Dividend Comparison

Neither HLPR.TO nor HXH.TO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both HLPR.TO and HXH.TO in my portfolio?

HLPR.TO and HXH.TO have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HLPR.TO or HXH.TO?

On fees, HXH.TO is cheaper at 0.11% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HLPR.TO or HXH.TO?

HXH.TO is cheaper with a 0.11% expense ratio, compared with 0.30% for HLPR.TO.

What is the main difference between HLPR.TO and HXH.TO?

HLPR.TO is categorized as Preferred Stock/Convertible Bonds, while HXH.TO is Canada Equities. HLPR.TO tracks Solactive Laddered Canadian Preferred Share Index, while HXH.TO tracks Solactive Canadian High Dividend Yield Index. Their fees differ too: 0.30% for HLPR.TO and 0.11% for HXH.TO.