HSH.TO vs. HBNK.TO
HSH.TO (Global X S&P 500 CAD Hedged Index Corporate Class ETF) and HBNK.TO (Global X Equal Weight Banks Index ETF) are both exchange-traded funds - HSH.TO is a S&P 500 fund actively managed by Global X, while HBNK.TO is a Financials Equities fund tracking the Solactive Equal Weight Canada Banks Index. HSH.TO is actively managed, while HBNK.TO is passively managed. Over the past 3 years, HSH.TO returned 18.33%/yr vs 37.95%/yr for HBNK.TO. At a 0.47 correlation, their price movements are largely independent.
Performance
HSH.TO vs. HBNK.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HSH.TO achieves a 9.63% return, which is significantly lower than HBNK.TO's 36.76% return.
HSH.TO
- 1D
- 0.10%
- 1M
- 0.05%
- 6M
- 8.63%
- YTD
- 9.63%
- 1Y
- 19.57%
- 3Y*
- 18.33%
- 5Y*
- 11.71%
- 10Y*
- —
HBNK.TO
- 1D
- 1.46%
- 1M
- 9.13%
- 6M
- 35.31%
- YTD
- 36.76%
- 1Y
- 75.14%
- 3Y*
- 37.95%
- 5Y*
- —
- 10Y*
- —
HSH.TO vs. HBNK.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HSH.TO Global X S&P 500 CAD Hedged Index Corporate Class ETF | 9.63% | 15.34% | 23.32% | 8.94% |
HBNK.TO Global X Equal Weight Banks Index ETF | 36.76% | 43.71% | 24.77% | 9.82% |
Correlation
The correlation between HSH.TO and HBNK.TO is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Jul 7, 2023 | 0.47 |
The correlation between HSH.TO and HBNK.TO has been stable across timeframes, ranging from 0.47 to 0.53 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HSH.TO vs. HBNK.TO — Risk / Return Rank
HSH.TO
HBNK.TO
HSH.TO vs. HBNK.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X S&P 500 CAD Hedged Index Corporate Class ETF (HSH.TO) and Global X Equal Weight Banks Index ETF (HBNK.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.
| HSH.TO | HBNK.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.11 | ||
| Sortino ratioReturn per unit of downside risk | -5.19 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 2.00 | -0.73 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | 8.91 | -6.86 |
| Martin ratioReturn relative to average drawdown | 8.81 | 38.63 | -29.82 |
Loading charts...
Drawdowns
HSH.TO vs. HBNK.TO - Drawdown Comparison
The maximum HSH.TO drawdown since its inception was -34.19%, which is greater than HBNK.TO's maximum drawdown of -14.78%. Use the drawdown chart below to compare losses from any high point for HSH.TO and HBNK.TO.
Loading charts...
Drawdown Indicators
| HSH.TO | HBNK.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.19% | -14.78% | -19.41% |
Max Drawdown (1Y)Largest decline over 1 year | -9.56% | -8.48% | -1.08% |
Max Drawdown (3Y)Largest decline over 3 years | -20.04% | -14.78% | -5.26% |
Max Drawdown (5Y)Largest decline over 5 years | -25.26% | — | — |
Current DrawdownCurrent decline from peak | -0.80% | 0.00% | -0.80% |
Average DrawdownAverage peak-to-trough decline | -5.44% | -2.24% | -3.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.23% | 1.95% | +0.28% |
Volatility
HSH.TO vs. HBNK.TO - Volatility Comparison
The current volatility for Global X S&P 500 CAD Hedged Index Corporate Class ETF (HSH.TO) is 3.77%, while Global X Equal Weight Banks Index ETF (HBNK.TO) has a volatility of 4.00%. This indicates that HSH.TO experiences smaller price fluctuations and is considered to be less risky than HBNK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HSH.TO | HBNK.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.77% | 4.00% | -0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 10.21% | 11.63% | -1.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.78% | 13.39% | -0.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.78% | 12.77% | +5.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.11% | 12.77% | +7.34% |
Dividends
HSH.TO vs. HBNK.TO - Dividend Comparison
HSH.TO has not paid dividends to shareholders, while HBNK.TO's dividend yield for the trailing twelve months is around 2.47%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
HBNK.TO Global X Equal Weight Banks Index ETF | 2.47% | 3.24% | 4.15% | 2.45% |
HSH.TO Global X S&P 500 CAD Hedged Index Corporate Class ETF | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HSH.TO and HBNK.TO have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HSH.TO is categorized as S&P 500, while HBNK.TO is Financials Equities.
Find the right allocation for HSH.TO and HBNK.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer