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HXE.TO vs. OILU
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HXE.TO vs. OILU

Last updated Aug 4, 2026
Documentation

HXE.TO (Global X S&P/TSX Capped Energy Index Corporate Class ETF) and OILU (MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN) are both exchange-traded funds - HXE.TO is a Energy Equities fund tracking the S&P/TSX Capped Energy Index (Total Return), while OILU is a Leveraged Equities fund tracking the Solactive MicroSectors Oil & Gas Exploration & Production Index. Both are passively managed. Over the past 3 years, HXE.TO returned 25.08%/yr vs 1.71%/yr for OILU. Their 0.73 correlation means they have sometimes moved together and sometimes differently. HXE.TO charges 0.27%/yr vs 0.95%/yr for OILU.

Performance

HXE.TO vs. OILU - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X S&P/TSX Capped Energy Index Corporate Class ETF (HXE.TO) and MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

HXE.TO is traded in CAD, while OILU is traded in USD. To make them comparable, the OILU values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, HXE.TO achieves a 46.03% return, which is significantly lower than OILU's 91.36% return.

HXE.TO

1D
1.47%
1M
14.90%
6M
33.24%
YTD
46.03%
1Y
66.82%
3Y*
25.08%
5Y*
33.12%
10Y*
12.31%
ALL TIME*
7.13%

OILU

1D
-4.13%
1M
31.02%
6M
32.55%
YTD
91.36%
1Y
103.55%
3Y*
1.71%
5Y*
—
10Y*
—
ALL TIME*
15.08%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

HXE.TO

Global X S&P/TSX Capped Energy Index Corporate Class ETF
CA$127.64KCA$109.88KCA$163.06K

OILU

MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN
CA$11.47MCA$10.96MCA$11.04M

HXE.TO vs. OILU - Yearly Performance Comparison

2026 (YTD)20252024202320222021
HXE.TO
Global X S&P/TSX Capped Energy Index Corporate Class ETF		46.03%17.30%14.39%3.95%53.52%-2.58%
OILU
MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN		91.36%-20.31%-15.01%-34.11%166.99%-14.77%

Correlation

The correlation between HXE.TO and OILU is 0.59, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.59

Correlation (3Y)
Balances recent behavior with more history.

0.69

Correlation (All Time)
Calculated using the full available price history since Nov 9, 2021

0.73

The correlation between HXE.TO and OILU shifts across timeframes, from 0.59 (1 year) to 0.73 (all time), reflecting how their relationship changes across market environments.

HXE.TO vs. OILU - Sectors Allocation Comparison

Sectors
HXE.TO
OILU

Energy

100.0%
100.0%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Financial Services

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Energy

HXE.TO
100.0%
OILU
100.0%

Basic Materials

HXE.TO

-

OILU

-

Communication Services

HXE.TO

-

OILU

-

Consumer Cyclical

HXE.TO

-

OILU

-

Consumer Defensive

HXE.TO

-

OILU

-

Financial Services

HXE.TO

-

OILU

-

Healthcare

HXE.TO

-

OILU

-

Industrials

HXE.TO

-

OILU

-

Real Estate

HXE.TO

-

OILU

-

Technology

HXE.TO

-

OILU

-

Utilities

HXE.TO

-

OILU

-

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/TSX Capped Energy Index Corporate Class ETF

MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN

Often compared with HXE.TO:
HXE.TO vs. XEG.TOHXE.TO vs. ENCC.TOHXE.TO vs. OILY.TOHXE.TO vs. EFX.TOHXE.TO vs. VDY.TOHXE.TO vs. CEW.TOHXE.TO vs. VCN.TO
Often compared with OILU:
OILU vs. UCOOILU vs. NRGUOILU vs. WTIUOILU vs. USOIOILU vs. USOOILU vs. OILDOILU vs. FRO

Return for Risk

HXE.TO vs. OILU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
HXE.TO
HXE.TO Risk / Return Rank: 8787
Overall Rank
HXE.TO Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
HXE.TO Sortino Ratio Rank: 8787
Sortino Ratio Rank
HXE.TO Omega Ratio Rank: 8787
Omega Ratio Rank
HXE.TO Calmar Ratio Rank: 8888
Calmar Ratio Rank
HXE.TO Martin Ratio Rank: 8181
Martin Ratio Rank
OILU
OILU Risk / Return Rank: 5656
Overall Rank
OILU Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
OILU Sortino Ratio Rank: 5656
Sortino Ratio Rank
OILU Omega Ratio Rank: 5454
Omega Ratio Rank
OILU Calmar Ratio Rank: 5959
Calmar Ratio Rank
OILU Martin Ratio Rank: 4646
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HXE.TO vs. OILU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X S&P/TSX Capped Energy Index Corporate Class ETF (HXE.TO) and MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU). 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.

HXE.TOOILUDifference
Sharpe ratioReturn per unit of total volatility
2.44
1.59

+0.86

Sortino ratioReturn per unit of downside risk
2.98
2.04

+0.95

Omega ratioGain probability vs. loss probability

1.40

1.25

+0.15

Calmar ratioReturn relative to maximum drawdown

3.70

2.26

+1.44

Martin ratioReturn relative to average drawdown

11.16

5.46

+5.71

HXE.TO vs. OILU - Sharpe Ratio Comparison

The current HXE.TO Sharpe Ratio is 2.44, which is higher than the OILU Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of HXE.TO and OILU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

HXE.TO vs. OILU - Drawdown Comparison

The maximum HXE.TO drawdown since its inception was -85.92%, which is greater than OILU's maximum drawdown of -78.70%. Use the drawdown chart below to compare losses from any high point for HXE.TO and OILU.

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Drawdown Indicators

HXE.TOOILUDifference

Max Drawdown

Largest peak-to-trough decline

-85.92%

-78.70%

-7.22%

Max Drawdown (1Y)

Largest decline over 1 year

-16.52%

-45.12%

+28.60%

Max Drawdown (3Y)

Largest decline over 3 years

-25.34%

-67.82%

+42.48%

Max Drawdown (5Y)

Largest decline over 5 years

-28.83%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-80.40%

—

—

Current Drawdown

Current decline from peak

-2.71%

-43.97%

+41.26%

Average Drawdown

Average peak-to-trough decline

-30.54%

-47.44%

+16.90%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.53%

18.68%

-13.15%

Volatility

HXE.TO vs. OILU - Volatility Comparison

The current volatility for Global X S&P/TSX Capped Energy Index Corporate Class ETF (HXE.TO) is 7.78%, while MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) has a volatility of 20.29%. This indicates that HXE.TO experiences smaller price fluctuations and is considered to be less risky than OILU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HXE.TOOILUDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.78%

20.29%

-12.51%

Volatility (6M)

Calculated over the trailing 6-month period

20.81%

52.47%

-31.66%

Volatility (1Y)

Calculated over the trailing 1-year period

25.05%

64.46%

-39.41%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

29.24%

80.92%

-51.68%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

33.81%

80.92%

-47.11%

HXE.TO vs. OILU - Expense Ratio Comparison

HXE.TO has a 0.27% expense ratio, which is lower than OILU's 0.95% expense ratio.

Dividends

HXE.TO vs. OILU - Dividend Comparison

Neither HXE.TO nor OILU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

HXE.TO and OILU have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, HXE.TO is cheaper at 0.27% per year. The better choice depends on whether you care most about return, fees, risk, or income.

HXE.TO is cheaper with a 0.27% expense ratio, compared with 0.95% for OILU.

HXE.TO is categorized as Energy Equities, while OILU is Leveraged Equities. HXE.TO tracks S&P/TSX Capped Energy Index (Total Return), while OILU tracks Solactive MicroSectors Oil & Gas Exploration & Production Index. They also come from different issuers: Global X and BMO. Their fees differ too: 0.27% for HXE.TO and 0.95% for OILU.

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