HXEM.TO vs. XBM.TO
HXEM.TO (Global X Emerging Markets Equity Index Corporate Class ETF) and XBM.TO (iShares S&P/TSX Global Base Metals Index ETF) are both exchange-traded funds - HXEM.TO is a Emerging Markets Equities fund tracking the Global X Emerging Markets Futures Roll Index (Total Return), while XBM.TO is a Energy Equities fund tracking the Morningstar Can Natural Resource NR CAD. Both are passively managed. Over the past 5 years, HXEM.TO returned 9.75%/yr vs 19.70%/yr for XBM.TO. A 0.52 correlation means they provide meaningful diversification when combined. HXEM.TO charges 0.25%/yr vs 0.60%/yr for XBM.TO.
Performance
HXEM.TO vs. XBM.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HXEM.TO achieves a 28.95% return, which is significantly lower than XBM.TO's 38.48% return.
HXEM.TO
- 1D
- -0.87%
- 1M
- 11.29%
- YTD
- 28.95%
- 6M
- 29.50%
- 1Y
- 56.68%
- 3Y*
- 24.44%
- 5Y*
- 9.75%
- 10Y*
- —
XBM.TO
- 1D
- -3.17%
- 1M
- 21.23%
- YTD
- 38.48%
- 6M
- 46.72%
- 1Y
- 119.30%
- 3Y*
- 29.93%
- 5Y*
- 19.70%
- 10Y*
- 20.17%
HXEM.TO vs. XBM.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
HXEM.TO Global X Emerging Markets Equity Index Corporate Class ETF | 28.95% | 26.46% | 14.53% | 7.09% | -16.39% | -2.71% | 12.33% |
XBM.TO iShares S&P/TSX Global Base Metals Index ETF | 38.48% | 50.69% | 5.96% | 2.84% | 3.69% | 32.04% | 34.42% |
Correlation
The correlation between HXEM.TO and XBM.TO is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Aug 7, 2020 | 0.52 |
The correlation between HXEM.TO and XBM.TO has been stable across timeframes, ranging from 0.52 to 0.57 - a consistent structural relationship.
HXEM.TO vs. XBM.TO - Sectors Allocation Comparison
Sectors
HXEM.TO
XBM.TO
Real Estate
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Basic Materials
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Communication Services
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Consumer Cyclical
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Consumer Defensive
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Energy
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Financial Services
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Healthcare
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Industrials
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Technology
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Utilities
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Real Estate
HXEM.TO
XBM.TO
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Basic Materials
HXEM.TO
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XBM.TO
Communication Services
HXEM.TO
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XBM.TO
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Consumer Cyclical
HXEM.TO
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XBM.TO
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Consumer Defensive
HXEM.TO
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XBM.TO
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Energy
HXEM.TO
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XBM.TO
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Financial Services
HXEM.TO
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XBM.TO
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Healthcare
HXEM.TO
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XBM.TO
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Industrials
HXEM.TO
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XBM.TO
Technology
HXEM.TO
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XBM.TO
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Utilities
HXEM.TO
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XBM.TO
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Return for Risk
HXEM.TO vs. XBM.TO — Risk / Return Rank
HXEM.TO
XBM.TO
HXEM.TO vs. XBM.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Emerging Markets Equity Index Corporate Class ETF (HXEM.TO) and iShares S&P/TSX Global Base Metals Index ETF (XBM.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.
| HXEM.TO | XBM.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.46 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.49 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 4.61 | 5.02 | -0.41 |
| Martin ratioReturn relative to average drawdown | 16.65 | 19.44 | -2.79 |
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
| HXEM.TO | XBM.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.91 | 3.37 | -0.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.58 | 0.60 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.62 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 0.25 | +0.40 |
Drawdowns
HXEM.TO vs. XBM.TO - Drawdown Comparison
The maximum HXEM.TO drawdown since its inception was -35.00%, smaller than the maximum XBM.TO drawdown of -67.40%. Use the drawdown chart below to compare losses from any high point for HXEM.TO and XBM.TO.
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Drawdown Indicators
| HXEM.TO | XBM.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.00% | -67.40% | +32.40% |
Max Drawdown (1Y)Largest decline over 1 year | -12.34% | -23.88% | +11.54% |
Max Drawdown (3Y)Largest decline over 3 years | -15.40% | -37.45% | +22.05% |
Max Drawdown (5Y)Largest decline over 5 years | -30.44% | -40.57% | +10.13% |
Max Drawdown (10Y)Largest decline over 10 years | — | -57.24% | — |
Current DrawdownCurrent decline from peak | -0.87% | -3.17% | +2.30% |
Average DrawdownAverage peak-to-trough decline | -13.75% | -25.80% | +12.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.41% | 6.16% | -2.75% |
Volatility
HXEM.TO vs. XBM.TO - Volatility Comparison
The current volatility for Global X Emerging Markets Equity Index Corporate Class ETF (HXEM.TO) is 8.38%, while iShares S&P/TSX Global Base Metals Index ETF (XBM.TO) has a volatility of 13.03%. This indicates that HXEM.TO experiences smaller price fluctuations and is considered to be less risky than XBM.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HXEM.TO | XBM.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.38% | 13.03% | -4.65% |
Volatility (6M)Calculated over the trailing 6-month period | 17.05% | 29.68% | -12.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.60% | 35.62% | -16.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.03% | 33.06% | -16.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.95% | 32.66% | -15.71% |
HXEM.TO vs. XBM.TO - Expense Ratio Comparison
HXEM.TO has a 0.25% expense ratio, which is lower than XBM.TO's 0.60% expense ratio.
Dividends
HXEM.TO vs. XBM.TO - Dividend Comparison
HXEM.TO has not paid dividends to shareholders, while XBM.TO's dividend yield for the trailing twelve months is around 0.62%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HXEM.TO Global X Emerging Markets Equity 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% |
XBM.TO iShares S&P/TSX Global Base Metals Index ETF | 0.62% | 0.86% | 1.25% | 2.09% | 4.83% | 3.01% | 1.81% | 3.71% | 3.43% | 1.63% | 2.42% | 5.70% |
Frequently Asked Questions
HXEM.TO and XBM.TO have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HXEM.TO is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HXEM.TO is cheaper with a 0.25% expense ratio, compared with 0.60% for XBM.TO.
HXEM.TO is categorized as Emerging Markets Equities, while XBM.TO is Energy Equities. HXEM.TO tracks Global X Emerging Markets Futures Roll Index (Total Return), while XBM.TO tracks Morningstar Can Natural Resource NR CAD. They also come from different issuers: Global X and iShares. Their fees differ too: 0.25% for HXEM.TO and 0.60% for XBM.TO.
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