PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
HSH.TO vs. VFV.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HSH.TO vs. VFV.TO

Last updated Jul 16, 2026
Documentation

HSH.TO (Global X S&P 500 CAD Hedged Index Corporate Class ETF) and VFV.TO (Vanguard S&P 500 Index ETF) are both S&P 500 funds. HSH.TO is actively managed, while VFV.TO is passively managed. Over the past 5 years, HSH.TO returned 11.71%/yr vs 15.57%/yr for VFV.TO. A 0.75 correlation means they provide meaningful diversification when combined.

Performance

HSH.TO vs. VFV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X S&P 500 CAD Hedged Index Corporate Class ETF (HSH.TO) and Vanguard S&P 500 Index ETF (VFV.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, HSH.TO achieves a 9.63% return, which is significantly lower than VFV.TO's 13.67% 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*
—

VFV.TO

1D
0.09%
1M
0.59%
6M
10.98%
YTD
13.67%
1Y
25.21%
3Y*
22.61%
5Y*
15.57%
10Y*
15.83%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HSH.TO vs. VFV.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
HSH.TO
Global X S&P 500 CAD Hedged Index Corporate Class ETF		9.63%15.34%23.32%25.56%-19.90%28.94%16.14%17.33%
VFV.TO
Vanguard S&P 500 Index ETF		13.67%12.18%35.23%23.23%-12.58%27.51%15.61%15.92%

Correlation

The correlation between HSH.TO and VFV.TO is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.83

Correlation (3Y)
Calculated over the trailing 3-year period

0.75

Correlation (5Y)
Calculated over the trailing 5-year period

0.76

Correlation (All Time)
Calculated using the full available price history since Feb 21, 2019

0.75

The correlation between HSH.TO and VFV.TO has been stable across timeframes, ranging from 0.75 to 0.83 - 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.

Global X S&P 500 CAD Hedged Index Corporate Class ETF

Vanguard S&P 500 Index ETF

Often compared with VFV.TO:
VFV.TO vs. XEQT.TOVFV.TO vs. VEQT.TOVFV.TO vs. VOOVFV.TO vs. QQC.TOVFV.TO vs. VSP.TOVFV.TO vs. VCN.TOVFV.TO vs. XQQ.TO

Return for Risk

HSH.TO vs. VFV.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HSH.TO
HSH.TO Risk / Return Rank: 5555
Overall Rank
HSH.TO Sharpe Ratio Rank: 5555
Sharpe Ratio Rank
HSH.TO Sortino Ratio Rank: 5555
Sortino Ratio Rank
HSH.TO Omega Ratio Rank: 5353
Omega Ratio Rank
HSH.TO Calmar Ratio Rank: 4949
Calmar Ratio Rank
HSH.TO Martin Ratio Rank: 6262
Martin Ratio Rank
VFV.TO
VFV.TO Risk / Return Rank: 7979
Overall Rank
VFV.TO Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
VFV.TO Sortino Ratio Rank: 8282
Sortino Ratio Rank
VFV.TO Omega Ratio Rank: 8282
Omega Ratio Rank
VFV.TO Calmar Ratio Rank: 7373
Calmar Ratio Rank
VFV.TO Martin Ratio Rank: 7575
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HSH.TO vs. VFV.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 Vanguard S&P 500 Index ETF (VFV.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.TOVFV.TODifference
Sharpe ratioReturn per unit of total volatility
1.54
2.10

-0.56

Sortino ratioReturn per unit of downside risk
2.19
2.88

-0.70

Omega ratioGain probability vs. loss probability

1.27

1.38

-0.11

Calmar ratioReturn relative to maximum drawdown

2.06

2.94

-0.88

Martin ratioReturn relative to average drawdown

8.81

11.01

-2.20

HSH.TO vs. VFV.TO - Sharpe Ratio Comparison

The current HSH.TO Sharpe Ratio is 1.54, which is comparable to the VFV.TO Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of HSH.TO and VFV.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

HSH.TO vs. VFV.TO - Drawdown Comparison

The maximum HSH.TO drawdown since its inception was -34.19%, which is greater than VFV.TO's maximum drawdown of -27.43%. Use the drawdown chart below to compare losses from any high point for HSH.TO and VFV.TO.

Loading charts...

Drawdown Indicators

HSH.TOVFV.TODifference

Max Drawdown

Largest peak-to-trough decline

-34.19%

-27.43%

-6.76%

Max Drawdown (1Y)

Largest decline over 1 year

-9.56%

-8.62%

-0.94%

Max Drawdown (3Y)

Largest decline over 3 years

-20.04%

-19.05%

-0.99%

Max Drawdown (5Y)

Largest decline over 5 years

-25.26%

-22.19%

-3.07%

Max Drawdown (10Y)

Largest decline over 10 years

—

-27.43%

—

Current Drawdown

Current decline from peak

-0.80%

-0.84%

+0.04%

Average Drawdown

Average peak-to-trough decline

-5.44%

-3.33%

-2.11%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.23%

2.29%

-0.06%

Volatility

HSH.TO vs. VFV.TO - Volatility Comparison

Global X S&P 500 CAD Hedged Index Corporate Class ETF (HSH.TO) has a higher volatility of 3.77% compared to Vanguard S&P 500 Index ETF (VFV.TO) at 3.01%. This indicates that HSH.TO's price experiences larger fluctuations and is considered to be riskier than VFV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

HSH.TOVFV.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.77%

3.01%

+0.76%

Volatility (6M)

Calculated over the trailing 6-month period

10.21%

9.46%

+0.75%

Volatility (1Y)

Calculated over the trailing 1-year period

12.78%

12.07%

+0.71%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.78%

15.04%

+2.74%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.11%

16.59%

+3.52%

Dividends

HSH.TO vs. VFV.TO - Dividend Comparison

HSH.TO has not paid dividends to shareholders, while VFV.TO's dividend yield for the trailing twelve months is around 0.84%.

PositionTTM20252024202320222021202020192018201720162015
HSH.TO
Global X S&P 500 CAD Hedged Index Corporate Class ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
VFV.TO
Vanguard S&P 500 Index ETF		0.84%0.92%0.99%1.20%1.31%1.06%1.33%1.55%1.69%1.51%1.65%1.63%

Frequently Asked Questions

HSH.TO and VFV.TO have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

They also come from different issuers: Global X and Vanguard.

Portfolio Optimizer

Find the right allocation for HSH.TO and VFV.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