HXS.TO vs. ZUE.TO
HXS.TO (Global X S&P 500 Index Corporate Class ETF) and ZUE.TO (BMO S&P 500 (CAD Hedged)) are both S&P 500 funds tracking the S&P 500 Index, from Global X and BMO respectively. Both are passively managed. Over the past 10 years, HXS.TO returned 15.90%/yr vs 13.77%/yr for ZUE.TO. A 0.78 correlation means they provide meaningful diversification when combined. HXS.TO charges 0.10%/yr vs 0.09%/yr for ZUE.TO.
Performance
HXS.TO vs. ZUE.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HXS.TO achieves a 11.99% return, which is significantly higher than ZUE.TO's 9.67% return. Over the past 10 years, HXS.TO has outperformed ZUE.TO with an annualized return of 15.90%, while ZUE.TO has yielded a comparatively lower 13.77% annualized return.
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%
ZUE.TO
- 1D
- -0.65%
- 1M
- 5.07%
- YTD
- 9.67%
- 6M
- 9.51%
- 1Y
- 25.18%
- 3Y*
- 20.25%
- 5Y*
- 12.15%
- 10Y*
- 13.77%
HXS.TO vs. ZUE.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HXS.TO Global X S&P 500 Index Corporate Class ETF | 11.99% | 11.93% | 34.98% | 23.22% | -12.72% | 27.30% | 15.78% | 24.69% | 3.03% | 13.60% |
ZUE.TO BMO S&P 500 (CAD Hedged) | 9.67% | 15.57% | 23.40% | 24.35% | -19.43% | 27.86% | 15.42% | 29.70% | -6.88% | 21.02% |
Correlation
The correlation between HXS.TO and ZUE.TO is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2010 | 0.78 |
The correlation between HXS.TO and ZUE.TO shifts across timeframes, from 0.78 (all time) to 0.88 (1 year), reflecting how their relationship changes across market environments.
HXS.TO vs. ZUE.TO - Sectors Allocation Comparison
Sectors
HXS.TO
ZUE.TO
Technology
Financial Services
Communication Services
Consumer Cyclical
Healthcare
Industrials
Consumer Defensive
Energy
Utilities
Real Estate
Basic Materials
Technology
HXS.TO
ZUE.TO
Financial Services
HXS.TO
ZUE.TO
Communication Services
HXS.TO
ZUE.TO
Consumer Cyclical
HXS.TO
ZUE.TO
Healthcare
HXS.TO
ZUE.TO
Industrials
HXS.TO
ZUE.TO
Consumer Defensive
HXS.TO
ZUE.TO
Energy
HXS.TO
ZUE.TO
Utilities
HXS.TO
ZUE.TO
Real Estate
HXS.TO
ZUE.TO
Basic Materials
HXS.TO
ZUE.TO
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Return for Risk
HXS.TO vs. ZUE.TO — Risk / Return Rank
HXS.TO
ZUE.TO
HXS.TO vs. ZUE.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 BMO S&P 500 (CAD Hedged) (ZUE.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 | ZUE.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.35 | ||
| Sortino ratioReturn per unit of downside risk | +0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.38 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.33 | 2.68 | +0.65 |
| Martin ratioReturn relative to average drawdown | 12.62 | 12.32 | +0.30 |
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
| HXS.TO | ZUE.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.46 | 2.12 | +0.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.11 | 0.72 | +0.38 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.97 | 0.76 | +0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.02 | 0.82 | +0.20 |
Drawdowns
HXS.TO vs. ZUE.TO - Drawdown Comparison
The maximum HXS.TO drawdown since its inception was -27.42%, smaller than the maximum ZUE.TO drawdown of -35.56%. Use the drawdown chart below to compare losses from any high point for HXS.TO and ZUE.TO.
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Drawdown Indicators
| HXS.TO | ZUE.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.42% | -35.56% | +8.14% |
Max Drawdown (1Y)Largest decline over 1 year | -8.74% | -9.43% | +0.69% |
Max Drawdown (3Y)Largest decline over 3 years | -18.98% | -18.72% | -0.26% |
Max Drawdown (5Y)Largest decline over 5 years | -22.63% | -25.34% | +2.71% |
Max Drawdown (10Y)Largest decline over 10 years | -27.42% | -35.56% | +8.14% |
Current DrawdownCurrent decline from peak | -0.27% | -0.65% | +0.38% |
Average DrawdownAverage peak-to-trough decline | -3.54% | -4.09% | +0.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.30% | 2.05% | +0.25% |
Volatility
HXS.TO vs. ZUE.TO - Volatility Comparison
Global X S&P 500 Index Corporate Class ETF (HXS.TO) and BMO S&P 500 (CAD Hedged) (ZUE.TO) have volatilities of 3.27% and 3.43%, 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.
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Volatility by Period
| HXS.TO | ZUE.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.27% | 3.43% | -0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 8.83% | 9.15% | -0.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.85% | 11.96% | -0.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.13% | 16.88% | -1.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.53% | 18.14% | -1.61% |
HXS.TO vs. ZUE.TO - Expense Ratio Comparison
HXS.TO has a 0.10% expense ratio, which is higher than ZUE.TO's 0.09% 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. ZUE.TO - Dividend Comparison
HXS.TO has not paid dividends to shareholders, while ZUE.TO's dividend yield for the trailing twelve months is around 0.80%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% | 0.00% |
ZUE.TO BMO S&P 500 (CAD Hedged) | 0.80% | 0.86% | 1.02% | 1.33% | 1.50% | 1.13% | 1.37% | 1.47% | 1.76% | 1.61% | 1.67% | 1.72% |
Frequently Asked Questions
HXS.TO and ZUE.TO have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZUE.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZUE.TO is cheaper with a 0.09% expense ratio, compared with 0.10% for HXS.TO.
Both ETFs track S&P 500 Index. They also come from different issuers: Global X and BMO. Their fees differ too: 0.10% for HXS.TO and 0.09% for ZUE.TO.
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