HSH.TO vs. USSL.TO
HSH.TO (Global X S&P 500 CAD Hedged Index Corporate Class ETF) and USSL.TO (Global X Enhanced S&P 500 Index ETF) are both exchange-traded funds - HSH.TO is a S&P 500 fund actively managed by Global X, while USSL.TO is a Leveraged Equities fund tracking the S&P 500. HSH.TO is actively managed, while USSL.TO is passively managed. Over the past year, HSH.TO returned 19.57% vs 30.25% for USSL.TO. A 0.51 correlation means they provide meaningful diversification when combined.
Performance
HSH.TO vs. USSL.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 USSL.TO's 15.64% 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*
- —
USSL.TO
- 1D
- -0.06%
- 1M
- 0.35%
- 6M
- 13.02%
- YTD
- 15.64%
- 1Y
- 30.25%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HSH.TO vs. USSL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HSH.TO Global X S&P 500 CAD Hedged Index Corporate Class ETF | 9.63% | 15.34% | 10.67% |
USSL.TO Global X Enhanced S&P 500 Index ETF | 15.64% | 13.42% | 21.92% |
Correlation
The correlation between HSH.TO and USSL.TO is 0.55, 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 | 0.55 |
Correlation (All Time) Calculated using the full available price history since May 22, 2024 | 0.51 |
The correlation between HSH.TO and USSL.TO has been stable across timeframes, ranging from 0.51 to 0.55 - a consistent structural relationship.
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Return for Risk
HSH.TO vs. USSL.TO — Risk / Return Rank
HSH.TO
USSL.TO
HSH.TO vs. USSL.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 S&P 500 Index ETF (USSL.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 | USSL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.85 | ||
| Sortino ratioReturn per unit of downside risk | -1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.44 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | 3.99 | -1.93 |
| Martin ratioReturn relative to average drawdown | 8.81 | 14.81 | -5.99 |
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Drawdowns
HSH.TO vs. USSL.TO - Drawdown Comparison
The maximum HSH.TO drawdown since its inception was -34.19%, which is greater than USSL.TO's maximum drawdown of -23.90%. Use the drawdown chart below to compare losses from any high point for HSH.TO and USSL.TO.
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Drawdown Indicators
| HSH.TO | USSL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.19% | -23.90% | -10.29% |
Max Drawdown (1Y)Largest decline over 1 year | -9.56% | -10.79% | +1.23% |
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% | -1.21% | +0.41% |
Average DrawdownAverage peak-to-trough decline | -5.44% | -3.32% | -2.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.23% | 5.64% | -3.41% |
Volatility
HSH.TO vs. USSL.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 S&P 500 Index ETF (USSL.TO) has a volatility of 4.08%. This indicates that HSH.TO experiences smaller price fluctuations and is considered to be less risky than USSL.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 | USSL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.77% | 4.08% | -0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 10.21% | 12.83% | -2.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.78% | 18.06% | -5.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.78% | 23.18% | -5.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.11% | 23.18% | -3.07% |
Dividends
HSH.TO vs. USSL.TO - Dividend Comparison
Neither HSH.TO nor USSL.TO has paid dividends to shareholders.
Frequently Asked Questions
HSH.TO and USSL.TO have a correlation of 0.55, 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 USSL.TO is Leveraged Equities.
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