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HULC.TO vs. XMS.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

HULC.TO vs. XMS.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Global X US Large Cap Index Corporate Class ETF (HULC.TO) and iShares MSCI Min Vol USA Index ETF (CAD-Hedged) (XMS.TO).

HULC.TO and XMS.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HULC.TO is a passively managed fund by Global X that tracks the performance of the Solactive US Large Cap Index (CA NTR). It was launched on Feb 5, 2020. XMS.TO is a passively managed fund by iShares that tracks the performance of the MSCI USA Minimum Volatility (USD) 100% Hedged to CAD Index. It was launched on Apr 5, 2016. Both HULC.TO and XMS.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

HULC.TO vs. XMS.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X US Large Cap Index Corporate Class ETF (HULC.TO) and iShares MSCI Min Vol USA Index ETF (CAD-Hedged) (XMS.TO). The values are adjusted to include any dividend payments, if applicable.

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HULC.TO vs. XMS.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
HULC.TO
Global X US Large Cap Index Corporate Class ETF		-3.02%12.69%35.93%24.43%-14.75%153.78%-72.17%
XMS.TO
iShares MSCI Min Vol USA Index ETF (CAD-Hedged)		-4.17%3.71%14.23%7.84%-11.15%21.02%-2.34%

Returns By Period

In the year-to-date period, HULC.TO achieves a -3.02% return, which is significantly higher than XMS.TO's -4.17% return.

HULC.TO

1D
2.87%
1M
-3.04%
YTD
-3.02%
6M
-1.94%
1Y
14.06%
3Y*
19.72%
5Y*
30.63%
10Y*
—

XMS.TO

1D
-0.22%
1M
-5.66%
YTD
-4.17%
6M
-6.72%
1Y
-5.06%
3Y*
6.69%
5Y*
4.92%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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Global X US Large Cap Index Corporate Class ETF

iShares MSCI Min Vol USA Index ETF (CAD-Hedged)

Often compared with HULC.TO:
HULC.TO vs. HXS.TOHULC.TO vs. TULV.TOHULC.TO vs. FCUQ.TOHULC.TO vs. ZUQ.TOHULC.TO vs. TPU.TOHULC.TO vs. XMTM.TOHULC.TO vs. XUU.TO
Often compared with XMS.TO:
XMS.TO vs. XMU.TOXMS.TO vs. VFV.TOXMS.TO vs. XDU.TOXMS.TO vs. XUS.TOXMS.TO vs. VSP.TOXMS.TO vs. SPYXMS.TO vs. ZSP.TO

HULC.TO vs. XMS.TO - Expense Ratio Comparison

HULC.TO has a 0.08% expense ratio, which is lower than XMS.TO's 0.33% expense ratio.

XMS.TO
iShares MSCI Min Vol USA Index ETF (CAD-Hedged)
HULC.TO
Global X US Large Cap Index Corporate Class ETF

Return for Risk

HULC.TO vs. XMS.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HULC.TO
HULC.TO Risk / Return Rank: 4242
Overall Rank
HULC.TO Sharpe Ratio Rank: 3838
Sharpe Ratio Rank
HULC.TO Sortino Ratio Rank: 3737
Sortino Ratio Rank
HULC.TO Omega Ratio Rank: 4242
Omega Ratio Rank
HULC.TO Calmar Ratio Rank: 4545
Calmar Ratio Rank
HULC.TO Martin Ratio Rank: 4646
Martin Ratio Rank
XMS.TO
XMS.TO Risk / Return Rank: 33
Overall Rank
XMS.TO Sharpe Ratio Rank: 55
Sharpe Ratio Rank
XMS.TO Sortino Ratio Rank: 44
Sortino Ratio Rank
XMS.TO Omega Ratio Rank: 44
Omega Ratio Rank
XMS.TO Calmar Ratio Rank: 22
Calmar Ratio Rank
XMS.TO Martin Ratio Rank: 00
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.

HULC.TO vs. XMS.TO - 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 iShares MSCI Min Vol USA Index ETF (CAD-Hedged) (XMS.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.

HULC.TOXMS.TODifference

Sharpe ratio

Return per unit of total volatility

0.73

-0.40

+1.13

Sortino ratio

Return per unit of downside risk

1.11

-0.46

+1.56

Omega ratio

Gain probability vs. loss probability

1.17

0.93

+0.24

Calmar ratio

Return relative to maximum drawdown

1.21

-0.65

+1.86

Martin ratio

Return relative to average drawdown

4.51

-2.33

+6.84

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HULC.TO vs. XMS.TO - Sharpe Ratio Comparison

The current HULC.TO Sharpe Ratio is 0.73, which is higher than the XMS.TO Sharpe Ratio of -0.40. The chart below compares the historical Sharpe Ratios of HULC.TO and XMS.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

HULC.TOXMS.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.73

-0.40

+1.13

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.66

0.41

+0.25

Sharpe Ratio (All Time)

Calculated using the full available price history

0.03

0.51

-0.48

Correlation

The correlation between HULC.TO and XMS.TO is 0.44, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

HULC.TO vs. XMS.TO - Dividend Comparison

HULC.TO has not paid dividends to shareholders, while XMS.TO's dividend yield for the trailing twelve months is around 1.25%.

TTM2025202420232022202120202019201820172016
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%
XMS.TO
iShares MSCI Min Vol USA Index ETF (CAD-Hedged)		1.25%1.08%1.21%1.38%1.20%0.99%1.66%1.40%1.54%1.53%1.43%

Drawdowns

HULC.TO vs. XMS.TO - Drawdown Comparison

The maximum HULC.TO drawdown since its inception was -81.67%, which is greater than XMS.TO's maximum drawdown of -36.48%. Use the drawdown chart below to compare losses from any high point for HULC.TO and XMS.TO.

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Drawdown Indicators

HULC.TOXMS.TODifference

Max Drawdown

Largest peak-to-trough decline

-81.67%

-36.48%

-45.19%

Max Drawdown (1Y)

Largest decline over 1 year

-12.74%

-8.50%

-4.24%

Max Drawdown (5Y)

Largest decline over 5 years

-23.94%

-19.23%

-4.71%

Current Drawdown

Current decline from peak

-6.08%

-6.91%

+0.83%

Average Drawdown

Average peak-to-trough decline

-33.60%

-4.28%

-29.32%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.42%

2.35%

+1.07%

Volatility

HULC.TO vs. XMS.TO - Volatility Comparison

Global X US Large Cap Index Corporate Class ETF (HULC.TO) has a higher volatility of 5.55% compared to iShares MSCI Min Vol USA Index ETF (CAD-Hedged) (XMS.TO) at 3.08%. This indicates that HULC.TO's price experiences larger fluctuations and is considered to be riskier than XMS.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HULC.TOXMS.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.55%

3.08%

+2.47%

Volatility (6M)

Calculated over the trailing 6-month period

10.48%

6.77%

+3.71%

Volatility (1Y)

Calculated over the trailing 1-year period

19.36%

12.14%

+7.22%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

47.01%

12.12%

+34.89%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

53.99%

14.76%

+39.23%