HULC.TO vs. SPY
HULC.TO (Global X US Large Cap Index Corporate Class ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - HULC.TO is a Large Cap Blend Equities fund tracking the Solactive US Large Cap Index (CA NTR), while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, HULC.TO returned 34.29%/yr vs 17.08%/yr for SPY. A 0.73 correlation means they provide meaningful diversification when combined. HULC.TO charges 0.08%/yr vs 0.09%/yr for SPY.
Performance
HULC.TO vs. SPY - Performance Comparison
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Different Trading Currencies
HULC.TO is traded in CAD, while SPY is traded in USD. To make them comparable, the SPY values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, HULC.TO achieves a 13.03% return, which is significantly higher than SPY's 12.32% return.
HULC.TO
- 1D
- 0.46%
- 1M
- 7.04%
- YTD
- 13.03%
- 6M
- 11.03%
- 1Y
- 30.67%
- 3Y*
- 24.21%
- 5Y*
- 34.29%
- 10Y*
- —
SPY
- 1D
- 0.00%
- 1M
- 6.33%
- YTD
- 12.32%
- 6M
- 10.34%
- 1Y
- 30.06%
- 3Y*
- 23.78%
- 5Y*
- 17.08%
- 10Y*
- 16.37%
HULC.TO vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
HULC.TO Global X US Large Cap Index Corporate Class ETF | 13.03% | 12.69% | 35.93% | 24.43% | -14.75% | 153.78% | 26.06% |
SPY State Street SPDR S&P 500 ETF | 12.86% | 12.32% | 35.62% | 23.40% | -12.34% | 27.57% | 22.25% |
Correlation
The correlation between HULC.TO and SPY is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Mar 2, 2020 | 0.73 |
The correlation between HULC.TO and SPY shifts across timeframes, from 0.73 (all time) to 0.89 (3 years), reflecting how their relationship changes across market environments.
HULC.TO vs. SPY - Sectors Allocation Comparison
Sectors
HULC.TO
SPY
Technology
Communication Services
Financial Services
Consumer Cyclical
Healthcare
Industrials
Consumer Defensive
Energy
Utilities
Basic Materials
Real Estate
Technology
HULC.TO
SPY
Communication Services
HULC.TO
SPY
Financial Services
HULC.TO
SPY
Consumer Cyclical
HULC.TO
SPY
Healthcare
HULC.TO
SPY
Industrials
HULC.TO
SPY
Consumer Defensive
HULC.TO
SPY
Energy
HULC.TO
SPY
Utilities
HULC.TO
SPY
Basic Materials
HULC.TO
SPY
Real Estate
HULC.TO
SPY
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Return for Risk
HULC.TO vs. SPY — Risk / Return Rank
HULC.TO
SPY
HULC.TO vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X US Large Cap Index Corporate Class ETF (HULC.TO) and State Street SPDR S&P 500 ETF (SPY). 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.
| HULC.TO | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.49 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.53 | 3.50 | +0.03 |
| Martin ratioReturn relative to average drawdown | 12.66 | 13.33 | -0.67 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HULC.TO | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.46 | 2.59 | -0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | 1.13 | -0.40 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.01 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.75 | 1.13 | -0.38 |
Drawdowns
HULC.TO vs. SPY - Drawdown Comparison
The maximum HULC.TO drawdown since its inception was -23.94%, smaller than the maximum SPY drawdown of -27.34%. Use the drawdown chart below to compare losses from any high point for HULC.TO and SPY.
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Drawdown Indicators
| HULC.TO | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.94% | -27.34% | +3.40% |
Max Drawdown (1Y)Largest decline over 1 year | -8.73% | -8.62% | -0.11% |
Max Drawdown (3Y)Largest decline over 3 years | -19.46% | -19.00% | -0.46% |
Max Drawdown (5Y)Largest decline over 5 years | -23.94% | -22.08% | -1.86% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.34% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.29% | +0.29% |
Average DrawdownAverage peak-to-trough decline | -4.68% | -3.21% | -1.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.43% | 2.26% | +0.17% |
Volatility
HULC.TO vs. SPY - Volatility Comparison
Global X US Large Cap Index Corporate Class ETF (HULC.TO) has a higher volatility of 2.96% compared to State Street SPDR S&P 500 ETF (SPY) at 2.73%. This indicates that HULC.TO's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HULC.TO | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.96% | 2.73% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 9.25% | 8.83% | +0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.51% | 11.68% | +0.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.99% | 15.15% | +31.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.80% | 16.19% | +27.61% |
HULC.TO vs. SPY - Expense Ratio Comparison
HULC.TO has a 0.08% expense ratio, which is lower than SPY's 0.09% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
HULC.TO vs. SPY - Dividend Comparison
HULC.TO has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 0.98%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HULC.TO Global X US Large Cap 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% |
SPY State Street SPDR S&P 500 ETF | 0.98% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Frequently Asked Questions
HULC.TO and SPY have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HULC.TO is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HULC.TO is cheaper with a 0.08% expense ratio, compared with 0.09% for SPY.
HULC.TO is categorized as Large Cap Blend Equities, while SPY is S&P 500. HULC.TO tracks Solactive US Large Cap Index (CA NTR), while SPY tracks S&P 500 Index. They also come from different issuers: Global X and State Street. Their fees differ too: 0.08% for HULC.TO and 0.09% for SPY.
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