HXX.TO vs. EHE.TO

Last updated Jul 1, 2026

HXX.TO (Global X Europe 50 Index Corporate Class ETF) and EHE.TO (CI Europe Hedged Equity Index ETF) are both Europe Equities funds - HXX.TO tracks the Solactive Europe 50 Rolling Future Index (Total Return) while EHE.TO tracks the WisdomTree Europe CAD-Hedged Equity Index. Both are passively managed. Over the past 5 years, HXX.TO returned 13.94%/yr vs 10.01%/yr for EHE.TO. At a 0.30 correlation, their price movements are largely independent.

Performance

HXX.TO vs. EHE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Europe 50 Index Corporate Class ETF (HXX.TO) and CI Europe Hedged Equity Index ETF (EHE.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HXX.TO achieves a 11.70% return, which is significantly higher than EHE.TO's 7.41% return.

HXX.TO

• 1D: 1.13%
• 1M: 6.00%
• YTD: 11.70%
• 6M: 11.70%
• 1Y: 22.70%
• 3Y*: 19.28%
• 5Y*: 13.94%
• 10Y*: —

EHE.TO

• 1D: 0.58%
• 1M: 1.53%
• YTD: 7.41%
• 6M: 7.99%
• 1Y: 17.80%
• 3Y*: 13.93%
• 5Y*: 10.01%
• 10Y*: —

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

HXX.TO vs. EHE.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HXX.TO Global X Europe 50 Index Corporate Class ETF	11.70%	31.10%	11.15%	24.55%	-9.72%	14.01%	5.46%	20.53%	-8.75%	16.68%
EHE.TO CI Europe Hedged Equity Index ETF	7.41%	22.91%	4.19%	22.26%	-10.45%	23.79%	-5.96%	24.49%	-10.68%	15.40%

Correlation

The correlation between HXX.TO and EHE.TO is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (All Time) Calculated using the full available price history since Dec 12, 2016	0.30

The correlation between HXX.TO and EHE.TO shifts across timeframes, from -0.05 (1 year) to 0.30 (all time), reflecting how their relationship changes across market environments.

HXX.TO vs. EHE.TO - Sectors Allocation Comparison

Sectors	HXX.TO	EHE.TO
Real Estate	34.3%	-
Basic Materials	-	6.8%
Communication Services	-	5.6%
Consumer Cyclical	-	13.5%
Consumer Defensive	-	12.4%
Energy	-	3.7%
Financial Services	-	15.1%
Healthcare	-	8.1%
Industrials	-	22.6%
Technology	-	12.1%
Utilities	-	-

Return for Risk

HXX.TO vs. EHE.TO — Risk / Return Rank

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

HXX.TO

HXX.TO Risk / Return Rank: 36
HXX.TO Sharpe Ratio Rank: 33
HXX.TO Sortino Ratio Rank: 34
HXX.TO Omega Ratio Rank: 36
HXX.TO Calmar Ratio Rank: 38
HXX.TO Martin Ratio Rank: 39

EHE.TO

EHE.TO Risk / Return Rank: 40
EHE.TO Sharpe Ratio Rank: 38
EHE.TO Sortino Ratio Rank: 40
EHE.TO Omega Ratio Rank: 40
EHE.TO Calmar Ratio Rank: 38
EHE.TO Martin Ratio Rank: 44

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.

HXX.TO vs. EHE.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Europe 50 Index Corporate Class ETF (HXX.TO) and CI Europe Hedged Equity Index ETF (EHE.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.

	HXX.TO	EHE.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.06	1.22	-0.16
Sortino ratio: Return per unit of downside risk	1.65	1.82	-0.17
Omega ratio: Gain probability vs. loss probability	1.22	1.23	-0.02
Calmar ratio: Return relative to maximum drawdown	1.71	1.68	+0.03
Martin ratio: Return relative to average drawdown	5.46	6.34	-0.88

HXX.TO vs. EHE.TO - Sharpe Ratio Comparison

The current HXX.TO Sharpe Ratio is 1.06, which is comparable to the EHE.TO Sharpe Ratio of 1.22. The chart below compares the historical Sharpe Ratios of HXX.TO and EHE.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

HXX.TO vs. EHE.TO - Drawdown Comparison

The maximum HXX.TO drawdown since its inception was -33.23%, smaller than the maximum EHE.TO drawdown of -38.20%. Use the drawdown chart below to compare losses from any high point for HXX.TO and EHE.TO.

Drawdown Indicators

	HXX.TO	EHE.TO	Difference
Max Drawdown Largest peak-to-trough decline	-33.23%	-38.20%	+4.97%
Max Drawdown (1Y) Largest decline over 1 year	-13.34%	-11.85%	-1.49%
Max Drawdown (3Y) Largest decline over 3 years	-16.50%	-16.30%	-0.20%
Max Drawdown (5Y) Largest decline over 5 years	-28.91%	-22.91%	-6.00%
Current Drawdown Current decline from peak	-2.37%	-0.97%	-1.40%
Average Drawdown Average peak-to-trough decline	-5.34%	-5.32%	-0.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.17%	3.13%	+1.04%

Volatility

HXX.TO vs. EHE.TO - Volatility Comparison

Global X Europe 50 Index Corporate Class ETF (HXX.TO) and CI Europe Hedged Equity Index ETF (EHE.TO) have volatilities of 5.24% and 5.06%, 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

	HXX.TO	EHE.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.24%	5.06%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	19.11%	13.37%	+5.74%
Volatility (1Y) Calculated over the trailing 1-year period	21.43%	16.28%	+5.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.27%	18.09%	+1.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.22%	17.45%	+1.77%

Dividends

HXX.TO vs. EHE.TO - Dividend Comparison

HXX.TO has not paid dividends to shareholders, while EHE.TO's dividend yield for the trailing twelve months is around 2.16%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
EHE.TO CI Europe Hedged Equity Index ETF	2.16%	2.16%	4.38%	3.30%	2.19%	1.90%	2.55%	2.02%	2.08%	1.37%	0.13%
HXX.TO Global X Europe 50 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%

Frequently Asked Questions

Can I hold both HXX.TO and EHE.TO in my portfolio?

HXX.TO and EHE.TO have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between HXX.TO and EHE.TO?

HXX.TO tracks Solactive Europe 50 Rolling Future Index (Total Return), while EHE.TO tracks WisdomTree Europe CAD-Hedged Equity Index. They also come from different issuers: Global X and CI.