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HXF.TO vs. HUBL.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HXF.TO vs. HUBL.TO

Last updated Jul 18, 2026
Documentation

HXF.TO (Global X S&P/TSX Capped Financials Index Corporate Class ETF) and HUBL.TO (Harvest US Bank Leaders Income ETF) are both Financials Equities funds. HXF.TO is passively managed, while HUBL.TO is actively managed. Over the past 5 years, HXF.TO returned 20.22%/yr vs 7.47%/yr for HUBL.TO. At a 0.41 correlation, their price movements are largely independent.

Performance

HXF.TO vs. HUBL.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X S&P/TSX Capped Financials Index Corporate Class ETF (HXF.TO) and Harvest US Bank Leaders Income ETF (HUBL.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, HXF.TO achieves a 26.34% return, which is significantly higher than HUBL.TO's 12.26% return.

HXF.TO

1D
1.42%
1M
6.14%
6M
24.86%
YTD
26.34%
1Y
52.25%
3Y*
33.98%
5Y*
20.22%
10Y*
16.29%

HUBL.TO

1D
-0.83%
1M
5.06%
6M
10.13%
YTD
12.26%
1Y
25.33%
3Y*
22.36%
5Y*
7.47%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

HXF.TO vs. HUBL.TO - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
HXF.TO
Global X S&P/TSX Capped Financials Index Corporate Class ETF		26.34%35.34%30.19%12.46%-9.00%35.14%1.80%21.45%-10.34%
HUBL.TO
Harvest US Bank Leaders Income ETF		12.26%17.04%30.19%-8.18%-15.62%29.63%-11.13%27.55%-24.05%

Correlation

The correlation between HXF.TO and HUBL.TO is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.25

Correlation (3Y)
Calculated over the trailing 3-year period

0.30

Correlation (5Y)
Calculated over the trailing 5-year period

0.41

Correlation (All Time)
Calculated using the full available price history since Feb 5, 2018

0.41

The correlation between HXF.TO and HUBL.TO shifts across timeframes, from 0.25 (1 year) to 0.41 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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Global X S&P/TSX Capped Financials Index Corporate Class ETF

Harvest US Bank Leaders Income ETF

Often compared with HXF.TO:
HXF.TO vs. SIXY.TOHXF.TO vs. HFIN.TOHXF.TO vs. ZEB.TOHXF.TO vs. CEW.TOHXF.TO vs. XFN.TOHXF.TO vs. HEB.TOHXF.TO vs. VDY.TO
Often compared with HUBL.TO:
HUBL.TO vs. HTAE.TOHUBL.TO vs. BNKL.TOHUBL.TO vs. CBNK.TOHUBL.TO vs. CEW.TOHUBL.TO vs. CFOU.TOHUBL.TO vs. CIC.TOHUBL.TO vs. FIE.TO

Return for Risk

HXF.TO vs. HUBL.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HXF.TO
HXF.TO Risk / Return Rank: 9797
Overall Rank
HXF.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
HXF.TO Sortino Ratio Rank: 9797
Sortino Ratio Rank
HXF.TO Omega Ratio Rank: 9797
Omega Ratio Rank
HXF.TO Calmar Ratio Rank: 9696
Calmar Ratio Rank
HXF.TO Martin Ratio Rank: 9696
Martin Ratio Rank
HUBL.TO
HUBL.TO Risk / Return Rank: 4545
Overall Rank
HUBL.TO Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
HUBL.TO Sortino Ratio Rank: 4747
Sortino Ratio Rank
HUBL.TO Omega Ratio Rank: 5050
Omega Ratio Rank
HUBL.TO Calmar Ratio Rank: 4040
Calmar Ratio Rank
HUBL.TO Martin Ratio Rank: 3939
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.

HXF.TO vs. HUBL.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X S&P/TSX Capped Financials Index Corporate Class ETF (HXF.TO) and Harvest US Bank Leaders Income ETF (HUBL.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.

HXF.TOHUBL.TODifference
Sharpe ratioReturn per unit of total volatility
4.07
1.30

+2.77

Sortino ratioReturn per unit of downside risk
5.74
1.81

+3.93

Omega ratioGain probability vs. loss probability

1.80

1.24

+0.56

Calmar ratioReturn relative to maximum drawdown

6.78

1.54

+5.23

Martin ratioReturn relative to average drawdown

27.43

4.57

+22.86

HXF.TO vs. HUBL.TO - Sharpe Ratio Comparison

The current HXF.TO Sharpe Ratio is 4.07, which is higher than the HUBL.TO Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of HXF.TO and HUBL.TO, 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

HXF.TO vs. HUBL.TO - Drawdown Comparison

The maximum HXF.TO drawdown since its inception was -39.77%, smaller than the maximum HUBL.TO drawdown of -51.30%. Use the drawdown chart below to compare losses from any high point for HXF.TO and HUBL.TO.

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Drawdown Indicators

HXF.TOHUBL.TODifference

Max Drawdown

Largest peak-to-trough decline

-39.77%

-51.30%

+11.53%

Max Drawdown (1Y)

Largest decline over 1 year

-7.94%

-16.47%

+8.53%

Max Drawdown (3Y)

Largest decline over 3 years

-12.90%

-25.70%

+12.80%

Max Drawdown (5Y)

Largest decline over 5 years

-21.45%

-44.89%

+23.44%

Max Drawdown (10Y)

Largest decline over 10 years

-39.77%

—

—

Current Drawdown

Current decline from peak

0.00%

-0.83%

+0.83%

Average Drawdown

Average peak-to-trough decline

-5.06%

-16.04%

+10.98%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.96%

5.56%

-3.60%

Volatility

HXF.TO vs. HUBL.TO - Volatility Comparison

The current volatility for Global X S&P/TSX Capped Financials Index Corporate Class ETF (HXF.TO) is 3.58%, while Harvest US Bank Leaders Income ETF (HUBL.TO) has a volatility of 4.74%. This indicates that HXF.TO experiences smaller price fluctuations and is considered to be less risky than HUBL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HXF.TOHUBL.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.58%

4.74%

-1.16%

Volatility (6M)

Calculated over the trailing 6-month period

11.62%

15.53%

-3.91%

Volatility (1Y)

Calculated over the trailing 1-year period

13.23%

19.63%

-6.40%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.79%

24.95%

-10.16%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.03%

28.94%

-11.91%

Dividends

HXF.TO vs. HUBL.TO - Dividend Comparison

HXF.TO has not paid dividends to shareholders, while HUBL.TO's dividend yield for the trailing twelve months is around 7.73%.

PositionTTM20252024202320222021202020192018
HUBL.TO
Harvest US Bank Leaders Income ETF		7.73%8.32%7.78%8.87%7.40%5.83%7.13%5.84%6.42%
HXF.TO
Global X S&P/TSX Capped Financials Index Corporate Class ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

HXF.TO and HUBL.TO have a correlation of 0.25, 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: Global X and Harvest.

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