HVOI.TO vs. INOC.TO
HVOI.TO (Harvest Low Volatility Canadian Equity Income ETF Class A) and INOC.TO (Global X Inovestor Canadian Equity Index ETF) are both Canada Equities funds. HVOI.TO is actively managed, while INOC.TO is passively managed. Over the past year, HVOI.TO returned 18.51% vs 22.49% for INOC.TO. At a 0.10 correlation, their price movements are largely independent.
Performance
HVOI.TO vs. INOC.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HVOI.TO achieves a 10.18% return, which is significantly lower than INOC.TO's 12.42% return.
HVOI.TO
- 1D
- -0.35%
- 1M
- 1.85%
- 6M
- 9.05%
- YTD
- 10.18%
- 1Y
- 18.51%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
INOC.TO
- 1D
- -0.56%
- 1M
- 2.39%
- 6M
- 9.70%
- YTD
- 12.42%
- 1Y
- 22.49%
- 3Y*
- 17.02%
- 5Y*
- 11.53%
- 10Y*
- —
HVOI.TO vs. INOC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HVOI.TO Harvest Low Volatility Canadian Equity Income ETF Class A | 10.18% | 15.49% |
INOC.TO Global X Inovestor Canadian Equity Index ETF | 12.42% | 21.16% |
Correlation
The correlation between HVOI.TO and INOC.TO is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Apr 15, 2025 | 0.10 |
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Return for Risk
HVOI.TO vs. INOC.TO — Risk / Return Rank
HVOI.TO
INOC.TO
HVOI.TO vs. INOC.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harvest Low Volatility Canadian Equity Income ETF Class A (HVOI.TO) and Global X Inovestor Canadian Equity Index ETF (INOC.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.
| HVOI.TO | INOC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| Sortino ratioReturn per unit of downside risk | +0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.35 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.76 | 2.38 | +0.39 |
| Martin ratioReturn relative to average drawdown | 11.08 | 8.13 | +2.95 |
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Drawdowns
HVOI.TO vs. INOC.TO - Drawdown Comparison
The maximum HVOI.TO drawdown since its inception was -6.72%, smaller than the maximum INOC.TO drawdown of -39.65%. Use the drawdown chart below to compare losses from any high point for HVOI.TO and INOC.TO.
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Drawdown Indicators
| HVOI.TO | INOC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.72% | -39.65% | +32.93% |
Max Drawdown (1Y)Largest decline over 1 year | -6.72% | -9.22% | +2.50% |
Max Drawdown (3Y)Largest decline over 3 years | — | -14.07% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.53% | — |
Current DrawdownCurrent decline from peak | -0.35% | -1.52% | +1.17% |
Average DrawdownAverage peak-to-trough decline | -0.90% | -4.13% | +3.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.67% | 2.69% | -1.02% |
Volatility
HVOI.TO vs. INOC.TO - Volatility Comparison
The current volatility for Harvest Low Volatility Canadian Equity Income ETF Class A (HVOI.TO) is 2.05%, while Global X Inovestor Canadian Equity Index ETF (INOC.TO) has a volatility of 2.76%. This indicates that HVOI.TO experiences smaller price fluctuations and is considered to be less risky than INOC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HVOI.TO | INOC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.05% | 2.76% | -0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 7.04% | 8.69% | -1.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.70% | 11.96% | -3.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.33% | 13.41% | -5.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.33% | 15.48% | -7.15% |
Dividends
HVOI.TO vs. INOC.TO - Dividend Comparison
HVOI.TO's dividend yield for the trailing twelve months is around 6.71%, more than INOC.TO's 1.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
HVOI.TO Harvest Low Volatility Canadian Equity Income ETF Class A | 6.71% | 4.76% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
INOC.TO Global X Inovestor Canadian Equity Index ETF | 1.00% | 1.66% | 1.61% | 2.04% | 1.82% | 1.81% | 2.03% | 1.89% | 2.06% |
Frequently Asked Questions
HVOI.TO and INOC.TO have a correlation of 0.11, 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: Harvest and Global X.
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