HXS.TO vs. HULC.TO

Last updated Jun 4, 2026

HXS.TO (Global X S&P 500 Index Corporate Class ETF) and HULC.TO (Global X US Large Cap Index Corporate Class ETF) are both exchange-traded funds - HXS.TO is a S&P 500 fund tracking the S&P 500 Index, while HULC.TO is a Large Cap Blend Equities fund tracking the Solactive US Large Cap Index (CA NTR). Both are passively managed. Over the past 5 years, HXS.TO returned 16.64%/yr vs 34.17%/yr for HULC.TO. A 0.77 correlation means they provide meaningful diversification when combined. HXS.TO charges 0.10%/yr vs 0.08%/yr for HULC.TO.

Performance

HXS.TO vs. HULC.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 US Large Cap Index Corporate Class ETF (HULC.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with HXS.TO having a 11.99% return and HULC.TO slightly higher at 12.50%.

HXS.TO

• 1D: -0.27%
• 1M: 7.20%
• YTD: 11.99%
• 6M: 10.17%
• 1Y: 29.00%
• 3Y*: 23.29%
• 5Y*: 16.64%
• 10Y*: 15.90%

HULC.TO

• 1D: -0.15%
• 1M: 7.49%
• YTD: 12.50%
• 6M: 10.64%
• 1Y: 29.64%
• 3Y*: 24.34%
• 5Y*: 34.17%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020
HXS.TO Global X S&P 500 Index Corporate Class ETF	11.99%	11.93%	34.98%	23.22%	-12.72%	27.30%	21.97%
HULC.TO Global X US Large Cap Index Corporate Class ETF	12.50%	12.69%	35.93%	24.43%	-14.75%	153.78%	26.06%

Correlation

The correlation between HXS.TO and HULC.TO is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Mar 2, 2020	0.77

The correlation between HXS.TO and HULC.TO shifts across timeframes, from 0.77 (all time) to 0.95 (1 year), reflecting how their relationship changes across market environments.

HXS.TO vs. HULC.TO - Sectors Allocation Comparison

Sectors	HXS.TO	HULC.TO
Technology	35.6%	35.3%
Financial Services	11.8%	11.5%
Communication Services	11.2%	11.6%
Consumer Cyclical	10.1%	10.0%
Healthcare	8.5%	8.8%
Industrials	8.3%	8.5%
Consumer Defensive	4.9%	4.8%
Energy	3.5%	3.6%
Utilities	2.4%	2.3%
Real Estate	1.9%	1.8%
Basic Materials	1.8%	1.8%

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HXS.TO

HXS.TO Risk / Return Rank: 71
HXS.TO Sharpe Ratio Rank: 74
HXS.TO Sortino Ratio Rank: 73
HXS.TO Omega Ratio Rank: 74
HXS.TO Calmar Ratio Rank: 66
HXS.TO Martin Ratio Rank: 67

HULC.TO

HULC.TO Risk / Return Rank: 71
HULC.TO Sharpe Ratio Rank: 73
HULC.TO Sortino Ratio Rank: 72
HULC.TO Omega Ratio Rank: 75
HULC.TO Calmar Ratio Rank: 69
HULC.TO Martin Ratio Rank: 67

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.

HXS.TO vs. HULC.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 US Large Cap Index Corporate Class ETF (HULC.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.

	HXS.TO	HULC.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.46	2.38	+0.08
Sortino ratio: Return per unit of downside risk	3.36	3.26	+0.10
Omega ratio: Gain probability vs. loss probability	1.45	1.44	+0.01
Calmar ratio: Return relative to maximum drawdown	3.33	3.41	-0.08
Martin ratio: Return relative to average drawdown	12.62	12.23	+0.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current HXS.TO Sharpe Ratio is 2.46, which is comparable to the HULC.TO Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of HXS.TO and HULC.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.

Sharpe Ratios by Period

	HXS.TO	HULC.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.46	2.38	+0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.11	0.73	+0.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.97	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.02	0.75	+0.27

Drawdowns

HXS.TO vs. HULC.TO - Drawdown Comparison

The maximum HXS.TO drawdown since its inception was -27.42%, which is greater than HULC.TO's maximum drawdown of -23.94%. Use the drawdown chart below to compare losses from any high point for HXS.TO and HULC.TO.

Drawdown Indicators

	HXS.TO	HULC.TO	Difference
Max Drawdown Largest peak-to-trough decline	-27.42%	-23.94%	-3.48%
Max Drawdown (1Y) Largest decline over 1 year	-8.74%	-8.73%	-0.01%
Max Drawdown (3Y) Largest decline over 3 years	-18.98%	-19.46%	+0.48%
Max Drawdown (5Y) Largest decline over 5 years	-22.63%	-23.94%	+1.31%
Max Drawdown (10Y) Largest decline over 10 years	-27.42%	—	—
Current Drawdown Current decline from peak	-0.27%	-0.15%	-0.12%
Average Drawdown Average peak-to-trough decline	-3.54%	-4.68%	+1.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.30%	2.43%	-0.13%

Volatility

HXS.TO vs. HULC.TO - Volatility Comparison

Global X S&P 500 Index Corporate Class ETF (HXS.TO) has a higher volatility of 3.27% compared to Global X US Large Cap Index Corporate Class ETF (HULC.TO) at 3.01%. This indicates that HXS.TO's price experiences larger fluctuations and is considered to be riskier than HULC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HXS.TO	HULC.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.27%	3.01%	+0.26%
Volatility (6M) Calculated over the trailing 6-month period	8.83%	9.25%	-0.42%
Volatility (1Y) Calculated over the trailing 1-year period	11.85%	12.53%	-0.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.13%	46.99%	-31.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.53%	43.82%	-27.29%

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

HXS.TO has a 0.10% expense ratio, which is higher than HULC.TO's 0.08% expense ratio. However, 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. HULC.TO - Dividend Comparison

Neither HXS.TO nor HULC.TO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

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

With a correlation of 0.95, HXS.TO and HULC.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

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

On fees, HULC.TO is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

HULC.TO is cheaper with a 0.08% expense ratio, compared with 0.10% for HXS.TO.

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

HXS.TO is categorized as S&P 500, while HULC.TO is Large Cap Blend Equities. HXS.TO tracks S&P 500 Index, while HULC.TO tracks Solactive US Large Cap Index (CA NTR). Their fees differ too: 0.10% for HXS.TO and 0.08% for HULC.TO.