HSAV.TO vs. GLDX.TO
HSAV.TO (Global X Cash Maximizer Corporate Class ETF) and GLDX.TO (Global X Gold Producers Index ETF) are both exchange-traded funds - HSAV.TO is a Money Market fund actively managed by Global X, while GLDX.TO is a Gold fund tracking the Mirae Asset North American Listed Gold Producers Index. HSAV.TO is actively managed, while GLDX.TO is passively managed. Over the past year, HSAV.TO returned 2.44% vs 58.70% for GLDX.TO. At a 0.03 correlation, their price movements are largely independent.
Performance
HSAV.TO vs. GLDX.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HSAV.TO achieves a 0.94% return, which is significantly higher than GLDX.TO's -7.62% return.
HSAV.TO
- 1D
- 0.04%
- 1M
- 0.02%
- YTD
- 0.94%
- 6M
- 1.02%
- 1Y
- 2.44%
- 3Y*
- 3.46%
- 5Y*
- 3.18%
- 10Y*
- —
GLDX.TO
- 1D
- -3.64%
- 1M
- -6.73%
- YTD
- -7.62%
- 6M
- -12.30%
- 1Y
- 58.70%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HSAV.TO vs. GLDX.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HSAV.TO Global X Cash Maximizer Corporate Class ETF | 0.94% | 2.58% | 0.30% |
GLDX.TO Global X Gold Producers Index ETF | -7.62% | 178.05% | -10.27% |
Correlation
The correlation between HSAV.TO and GLDX.TO is 0.03, 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 | 0.03 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2024 | 0.03 |
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Return for Risk
HSAV.TO vs. GLDX.TO — Risk / Return Rank
HSAV.TO
GLDX.TO
HSAV.TO vs. GLDX.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Cash Maximizer Corporate Class ETF (HSAV.TO) and Global X Gold Producers Index ETF (GLDX.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.
| HSAV.TO | GLDX.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.54 | ||
| Sortino ratioReturn per unit of downside risk | +0.95 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.23 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 4.14 | 1.67 | +2.46 |
| Martin ratioReturn relative to average drawdown | 10.94 | 4.38 | +6.56 |
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Drawdowns
HSAV.TO vs. GLDX.TO - Drawdown Comparison
The maximum HSAV.TO drawdown since its inception was -2.18%, smaller than the maximum GLDX.TO drawdown of -35.22%. Use the drawdown chart below to compare losses from any high point for HSAV.TO and GLDX.TO.
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Drawdown Indicators
| HSAV.TO | GLDX.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.18% | -35.22% | +33.04% |
Max Drawdown (1Y)Largest decline over 1 year | -0.59% | -35.22% | +34.63% |
Max Drawdown (3Y)Largest decline over 3 years | -1.06% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -2.18% | — | — |
Current DrawdownCurrent decline from peak | -0.28% | -30.84% | +30.56% |
Average DrawdownAverage peak-to-trough decline | -0.19% | -7.32% | +7.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.22% | 13.47% | -13.25% |
Volatility
HSAV.TO vs. GLDX.TO - Volatility Comparison
The current volatility for Global X Cash Maximizer Corporate Class ETF (HSAV.TO) is 0.35%, while Global X Gold Producers Index ETF (GLDX.TO) has a volatility of 16.57%. This indicates that HSAV.TO experiences smaller price fluctuations and is considered to be less risky than GLDX.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HSAV.TO | GLDX.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.35% | 16.57% | -16.22% |
Volatility (6M)Calculated over the trailing 6-month period | 1.02% | 38.70% | -37.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.39% | 48.28% | -46.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.77% | 44.49% | -42.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.57% | 44.49% | -42.92% |
Dividends
HSAV.TO vs. GLDX.TO - Dividend Comparison
HSAV.TO has not paid dividends to shareholders, while GLDX.TO's dividend yield for the trailing twelve months is around 1.05%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
GLDX.TO Global X Gold Producers Index ETF | 1.05% | 0.97% | 0.08% |
HSAV.TO Global X Cash Maximizer Corporate Class ETF | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HSAV.TO and GLDX.TO have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HSAV.TO is categorized as Money Market, while GLDX.TO is Gold.
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