HXS.TO vs. HEQT.TO

Last updated Aug 4, 2026

HXS.TO (Global X S&P 500 Index Corporate Class ETF) and HEQT.TO (Global X All-Equity Asset Allocation ETF) are both exchange-traded funds - HXS.TO is a S&P 500 fund tracking the S&P 500 Index, while HEQT.TO is a Global Equities fund actively managed by Global X. HXS.TO is passively managed, while HEQT.TO is actively managed. Over the past 5 years, HXS.TO returned 15.04%/yr vs 12.28%/yr for HEQT.TO. Their 0.78 correlation means they have sometimes moved together and sometimes differently. HXS.TO charges 0.11%/yr vs 0.24%/yr for HEQT.TO.

Performance

HXS.TO vs. HEQT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X S&P 500 Index Corporate Class ETF (HXS.TO) and Global X All-Equity Asset Allocation ETF (HEQT.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HXS.TO achieves a 12.29% return, which is significantly lower than HEQT.TO's 14.18% return.

HXS.TO

• 1D: 1.01%
• 1M: -1.61%
• 6M: 10.67%
• YTD: 12.29%
• 1Y: 23.02%
• 3Y*: 21.03%
• 5Y*: 15.04%
• 10Y*: —
• ALL TIME*: 16.51%

HEQT.TO

• 1D: 0.23%
• 1M: -1.74%
• 6M: 10.85%
• YTD: 14.18%
• 1Y: 28.07%
• 3Y*: 20.27%
• 5Y*: 12.28%
• 10Y*: —
• ALL TIME*: 14.75%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HEQT.TO Global X All-Equity Asset Allocation ETF	CA$119.03K	CA$166.73K	CA$187.81K
HXS.TO Global X S&P 500 Index Corporate Class ETF	CA$3.29M	CA$4.19M	CA$4.44M

HXS.TO vs. HEQT.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
HXS.TO Global X S&P 500 Index Corporate Class ETF	12.29%	11.93%	34.98%	23.22%	-12.72%	27.30%	15.78%	5.66%
HEQT.TO Global X All-Equity Asset Allocation ETF	14.18%	19.82%	23.83%	22.29%	-18.95%	22.54%	16.34%	7.44%

Correlation

The correlation between HXS.TO and HEQT.TO is 0.89, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.89
Correlation (3Y) Balances recent behavior with more history.	0.87
Correlation (5Y) Shows whether the relationship held over a longer period.	0.87
Correlation (All Time) Calculated using the full available price history since Sep 18, 2019	0.78

The correlation between HXS.TO and HEQT.TO shifts across timeframes, from 0.78 (all time) to 0.89 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

HXS.TO vs. HEQT.TO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HXS.TO

HXS.TO Risk / Return Rank: 67
HXS.TO Sharpe Ratio Rank: 68
HXS.TO Sortino Ratio Rank: 67
HXS.TO Omega Ratio Rank: 67
HXS.TO Calmar Ratio Rank: 65
HXS.TO Martin Ratio Rank: 68

HEQT.TO

HEQT.TO Risk / Return Rank: 84
HEQT.TO Sharpe Ratio Rank: 84
HEQT.TO Sortino Ratio Rank: 84
HEQT.TO Omega Ratio Rank: 84
HEQT.TO Calmar Ratio Rank: 82
HEQT.TO Martin Ratio Rank: 87

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.

HXS.TO vs. HEQT.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X S&P 500 Index Corporate Class ETF (HXS.TO) and Global X All-Equity Asset Allocation ETF (HEQT.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.

	HXS.TO	HEQT.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.61	2.03	-0.42
Sortino ratio: Return per unit of downside risk	2.24	2.82	-0.58
Omega ratio: Gain probability vs. loss probability	1.29	1.37	-0.08
Calmar ratio: Return relative to maximum drawdown	2.35	3.12	-0.77
Martin ratio: Return relative to average drawdown	8.56	13.04	-4.48

HXS.TO vs. HEQT.TO - Sharpe Ratio Comparison

The current HXS.TO Sharpe Ratio is 1.61, which is comparable to the HEQT.TO Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of HXS.TO and HEQT.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.

Drawdowns

HXS.TO vs. HEQT.TO - Drawdown Comparison

The maximum HXS.TO drawdown since its inception was -27.41%, smaller than the maximum HEQT.TO drawdown of -31.82%. Use the drawdown chart below to compare losses from any high point for HXS.TO and HEQT.TO.

Drawdown Indicators

	HXS.TO	HEQT.TO	Difference
Max Drawdown Largest peak-to-trough decline	-27.41%	-31.82%	+4.41%
Max Drawdown (1Y) Largest decline over 1 year	-8.74%	-8.49%	-0.25%
Max Drawdown (3Y) Largest decline over 3 years	-18.98%	-15.33%	-3.65%
Max Drawdown (5Y) Largest decline over 5 years	-22.63%	-24.89%	+2.26%
Current Drawdown Current decline from peak	-1.84%	-1.90%	+0.06%
Average Drawdown Average peak-to-trough decline	-4.22%	-5.10%	+0.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.40%	2.03%	+0.37%

Volatility

HXS.TO vs. HEQT.TO - Volatility Comparison

Global X S&P 500 Index Corporate Class ETF (HXS.TO) and Global X All-Equity Asset Allocation ETF (HEQT.TO) have volatilities of 3.77% and 3.86%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HXS.TO	HEQT.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.77%	3.86%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	9.87%	10.92%	-1.05%
Volatility (1Y) Calculated over the trailing 1-year period	12.78%	13.07%	-0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.31%	15.03%	+0.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.68%	16.83%	+0.85%

HXS.TO vs. HEQT.TO - Expense Ratio Comparison

HXS.TO has a 0.11% expense ratio, which is lower than HEQT.TO's 0.24% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

HXS.TO vs. HEQT.TO - Dividend Comparison

HXS.TO has not paid dividends to shareholders, while HEQT.TO's dividend yield for the trailing twelve months is around 1.65%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
HEQT.TO Global X All-Equity Asset Allocation ETF	1.65%	1.70%	1.67%	0.84%	0.03%	0.02%	1.40%	0.22%
HXS.TO Global X S&P 500 Index Corporate Class ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HXS.TO and HEQT.TO in my portfolio?

HXS.TO and HEQT.TO have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HXS.TO or HEQT.TO?

On fees, HXS.TO is cheaper at 0.11% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HXS.TO or HEQT.TO?

HXS.TO is cheaper with a 0.11% expense ratio, compared with 0.24% for HEQT.TO.

What is the main difference between HXS.TO and HEQT.TO?

HXS.TO is categorized as S&P 500, while HEQT.TO is Global Equities. Their fees differ too: 0.11% for HXS.TO and 0.24% for HEQT.TO.