HSH.TO vs. QQCL.TO
HSH.TO (Global X S&P 500 CAD Hedged Index Corporate Class ETF) and QQCL.TO (Global X Enhanced NASDAQ-100 Covered Call ETF) are both exchange-traded funds - HSH.TO is a S&P 500 fund actively managed by Global X, while QQCL.TO is a Nasdaq-100 fund actively managed by Global X. Both are actively managed. Over the past year, HSH.TO returned 19.57% vs 34.98% for QQCL.TO. A 0.69 correlation means they provide meaningful diversification when combined.
Performance
HSH.TO vs. QQCL.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HSH.TO achieves a 9.63% return, which is significantly lower than QQCL.TO's 19.53% 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*
- —
QQCL.TO
- 1D
- -0.55%
- 1M
- -2.25%
- 6M
- 16.74%
- YTD
- 19.53%
- 1Y
- 34.98%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HSH.TO vs. QQCL.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% | 9.57% |
QQCL.TO Global X Enhanced NASDAQ-100 Covered Call ETF | 19.53% | 13.10% | 41.38% | 4.96% |
Correlation
The correlation between HSH.TO and QQCL.TO is 0.76, 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 | 0.76 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2023 | 0.69 |
The correlation between HSH.TO and QQCL.TO has been stable across timeframes, ranging from 0.69 to 0.76 - a consistent structural relationship.
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Return for Risk
HSH.TO vs. QQCL.TO — Risk / Return Rank
HSH.TO
QQCL.TO
HSH.TO vs. QQCL.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 Enhanced NASDAQ-100 Covered Call ETF (QQCL.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 | QQCL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.34 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | 3.28 | -1.23 |
| Martin ratioReturn relative to average drawdown | 8.81 | 11.66 | -2.85 |
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Drawdowns
HSH.TO vs. QQCL.TO - Drawdown Comparison
The maximum HSH.TO drawdown since its inception was -34.19%, which is greater than QQCL.TO's maximum drawdown of -25.63%. Use the drawdown chart below to compare losses from any high point for HSH.TO and QQCL.TO.
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Drawdown Indicators
| HSH.TO | QQCL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.19% | -25.63% | -8.56% |
Max Drawdown (1Y)Largest decline over 1 year | -9.56% | -10.70% | +1.14% |
Max Drawdown (3Y)Largest decline over 3 years | -20.04% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -25.26% | — | — |
Current DrawdownCurrent decline from peak | -0.80% | -3.73% | +2.93% |
Average DrawdownAverage peak-to-trough decline | -5.44% | -3.28% | -2.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.23% | 3.01% | -0.78% |
Volatility
HSH.TO vs. QQCL.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 Enhanced NASDAQ-100 Covered Call ETF (QQCL.TO) has a volatility of 7.29%. This indicates that HSH.TO experiences smaller price fluctuations and is considered to be less risky than QQCL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HSH.TO | QQCL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.77% | 7.29% | -3.52% |
Volatility (6M)Calculated over the trailing 6-month period | 10.21% | 15.50% | -5.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.78% | 18.45% | -5.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.78% | 20.82% | -3.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.11% | 20.82% | -0.71% |
Dividends
HSH.TO vs. QQCL.TO - Dividend Comparison
HSH.TO has not paid dividends to shareholders, while QQCL.TO's dividend yield for the trailing twelve months is around 13.50%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
HSH.TO Global X S&P 500 CAD Hedged Index Corporate Class ETF | 0.00% | 0.00% | 0.00% | 0.00% |
QQCL.TO Global X Enhanced NASDAQ-100 Covered Call ETF | 13.50% | 14.54% | 11.87% | 3.68% |
Frequently Asked Questions
HSH.TO and QQCL.TO have a correlation of 0.76, 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 QQCL.TO is Nasdaq-100.
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