HSAV.TO vs. UTIL.TO
HSAV.TO (Global X Cash Maximizer Corporate Class ETF) and UTIL.TO (Global X Equal Weight Canadian Utilities Index ETF) are both exchange-traded funds - HSAV.TO is a Money Market fund actively managed by Global X, while UTIL.TO is a Utilities Equities fund tracking the Mirae Asset Equal Weight Canadian Utilities Index. HSAV.TO is actively managed, while UTIL.TO is passively managed. Over the past 3 years, HSAV.TO returned 3.46%/yr vs 15.77%/yr for UTIL.TO. At a 0.09 correlation, their price movements are largely independent.
Performance
HSAV.TO vs. UTIL.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 lower than UTIL.TO's 20.36% 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*
- —
UTIL.TO
- 1D
- 0.24%
- 1M
- 2.12%
- YTD
- 20.36%
- 6M
- 20.42%
- 1Y
- 29.80%
- 3Y*
- 15.77%
- 5Y*
- —
- 10Y*
- —
HSAV.TO vs. UTIL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HSAV.TO Global X Cash Maximizer Corporate Class ETF | 0.94% | 2.58% | 4.24% | 5.04% | 1.98% |
UTIL.TO Global X Equal Weight Canadian Utilities Index ETF | 20.36% | 19.08% | 8.82% | -1.83% | -11.68% |
Correlation
The correlation between HSAV.TO and UTIL.TO is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2022 | 0.09 |
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Return for Risk
HSAV.TO vs. UTIL.TO — Risk / Return Rank
HSAV.TO
UTIL.TO
HSAV.TO vs. UTIL.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 Equal Weight Canadian Utilities Index ETF (UTIL.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 | UTIL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.39 | ||
| Sortino ratioReturn per unit of downside risk | -1.69 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.63 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 4.14 | 6.49 | -2.35 |
| Martin ratioReturn relative to average drawdown | 10.94 | 18.08 | -7.14 |
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Drawdowns
HSAV.TO vs. UTIL.TO - Drawdown Comparison
The maximum HSAV.TO drawdown since its inception was -2.18%, smaller than the maximum UTIL.TO drawdown of -25.61%. Use the drawdown chart below to compare losses from any high point for HSAV.TO and UTIL.TO.
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Drawdown Indicators
| HSAV.TO | UTIL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.18% | -25.61% | +23.43% |
Max Drawdown (1Y)Largest decline over 1 year | -0.59% | -4.62% | +4.03% |
Max Drawdown (3Y)Largest decline over 3 years | -1.06% | -16.07% | +15.01% |
Max Drawdown (5Y)Largest decline over 5 years | -2.18% | — | — |
Current DrawdownCurrent decline from peak | -0.28% | 0.00% | -0.28% |
Average DrawdownAverage peak-to-trough decline | -0.19% | -7.77% | +7.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.22% | 1.65% | -1.43% |
Volatility
HSAV.TO vs. UTIL.TO - Volatility Comparison
The current volatility for Global X Cash Maximizer Corporate Class ETF (HSAV.TO) is 0.35%, while Global X Equal Weight Canadian Utilities Index ETF (UTIL.TO) has a volatility of 2.53%. This indicates that HSAV.TO experiences smaller price fluctuations and is considered to be less risky than UTIL.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 | UTIL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.35% | 2.53% | -2.18% |
Volatility (6M)Calculated over the trailing 6-month period | 1.02% | 7.90% | -6.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.39% | 9.49% | -8.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.77% | 12.49% | -10.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.57% | 12.49% | -10.92% |
Dividends
HSAV.TO vs. UTIL.TO - Dividend Comparison
HSAV.TO has not paid dividends to shareholders, while UTIL.TO's dividend yield for the trailing twelve months is around 3.32%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
HSAV.TO Global X Cash Maximizer Corporate Class ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UTIL.TO Global X Equal Weight Canadian Utilities Index ETF | 3.32% | 4.07% | 4.38% | 4.45% | 1.87% |
Frequently Asked Questions
HSAV.TO and UTIL.TO have a correlation of 0.10, 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 UTIL.TO is Utilities Equities.
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