PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
HXX.TO vs. IEUR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HXX.TO vs. IEUR

Last updated Jun 5, 2026

HXX.TO (Global X Europe 50 Index Corporate Class ETF) and IEUR (iShares Core MSCI Europe ETF) are both Europe Equities funds - HXX.TO tracks the Solactive Europe 50 Rolling Future Index (Total Return) while IEUR tracks the MSCI Europe Investable Market Index. Both are passively managed. Over the past 5 years, HXX.TO returned 12.61%/yr vs 11.40%/yr for IEUR. A 0.78 correlation means they provide meaningful diversification when combined. HXX.TO charges 0.19%/yr vs 0.09%/yr for IEUR.

Performance

HXX.TO vs. IEUR - 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 iShares Core MSCI Europe ETF (IEUR). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Different Trading Currencies

HXX.TO is traded in CAD, while IEUR is traded in USD. To make them comparable, the IEUR values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, HXX.TO achieves a 5.99% return, which is significantly lower than IEUR's 8.37% return.

HXX.TO

1D
-0.06%
1M
4.80%
YTD
5.99%
6M
6.35%
1Y
17.30%
3Y*
18.21%
5Y*
12.61%
10Y*
—

IEUR

1D
1.30%
1M
4.59%
YTD
8.37%
6M
9.54%
1Y
20.11%
3Y*
18.16%
5Y*
11.40%
10Y*
10.15%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HXX.TO vs. IEUR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HXX.TO
Global X Europe 50 Index Corporate Class ETF		5.99%31.10%11.15%24.55%-9.72%14.01%5.46%20.53%-8.75%16.68%
IEUR
iShares Core MSCI Europe ETF		8.37%29.45%10.11%17.07%-9.91%15.66%3.53%18.81%-7.64%18.64%

Correlation

The correlation between HXX.TO and IEUR is 0.86, 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

0.86

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

0.81

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

0.82

Correlation (All Time)
Calculated using the full available price history since Dec 13, 2016

0.78

The correlation between HXX.TO and IEUR has been stable across timeframes, ranging from 0.78 to 0.86 - a consistent structural relationship.

HXX.TO vs. IEUR - Sectors Allocation Comparison

Sectors
HXX.TO
IEUR

Real Estate

34.3%
1.6%

Basic Materials

-

5.8%

Communication Services

-

3.8%

Consumer Cyclical

-

6.9%

Consumer Defensive

-

8.0%

Energy

-

5.3%

Financial Services

-

22.5%

Healthcare

-

12.5%

Industrials

-

20.4%

Technology

-

8.4%

Utilities

-

4.8%

Real Estate

HXX.TO
34.3%
IEUR
1.6%

Basic Materials

HXX.TO

-

IEUR
5.8%

Communication Services

HXX.TO

-

IEUR
3.8%

Consumer Cyclical

HXX.TO

-

IEUR
6.9%

Consumer Defensive

HXX.TO

-

IEUR
8.0%

Energy

HXX.TO

-

IEUR
5.3%

Financial Services

HXX.TO

-

IEUR
22.5%

Healthcare

HXX.TO

-

IEUR
12.5%

Industrials

HXX.TO

-

IEUR
20.4%

Technology

HXX.TO

-

IEUR
8.4%

Utilities

HXX.TO

-

IEUR
4.8%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Global X Europe 50 Index Corporate Class ETF

iShares Core MSCI Europe ETF

Often compared with HXX.TO:
HXX.TO vs. ZDI.TOHXX.TO vs. XEU.TOHXX.TO vs. HSBA.LHXX.TO vs. TEC.TOHXX.TO vs. XEQT.TOHXX.TO vs. XESG.TOHXX.TO vs. VFV.TO
Often compared with IEUR:
IEUR vs. VGKIEUR vs. IEVIEUR vs. IMEU.LIEUR vs. FEZIEUR vs. EZUIEUR vs. VOOIEUR vs. EFA

Return for Risk

HXX.TO vs. IEUR — 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: 2727
Overall Rank
HXX.TO Sharpe Ratio Rank: 2424
Sharpe Ratio Rank
HXX.TO Sortino Ratio Rank: 2424
Sortino Ratio Rank
HXX.TO Omega Ratio Rank: 2626
Omega Ratio Rank
HXX.TO Calmar Ratio Rank: 2727
Calmar Ratio Rank
HXX.TO Martin Ratio Rank: 3131
Martin Ratio Rank
IEUR
IEUR Risk / Return Rank: 3333
Overall Rank
IEUR Sharpe Ratio Rank: 3434
Sharpe Ratio Rank
IEUR Sortino Ratio Rank: 3333
Sortino Ratio Rank
IEUR Omega Ratio Rank: 3232
Omega Ratio Rank
IEUR Calmar Ratio Rank: 3131
Calmar Ratio Rank
IEUR Martin Ratio Rank: 3737
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.

HXX.TO vs. IEUR - 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 iShares Core MSCI Europe ETF (IEUR). 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.

HXX.TOIEURDifference
Sharpe ratioReturn per unit of total volatility
0.82
1.40

-0.58

Sortino ratioReturn per unit of downside risk
1.31
2.03

-0.72

Omega ratioGain probability vs. loss probability

1.17

1.25

-0.08

Calmar ratioReturn relative to maximum drawdown

1.30

1.72

-0.42

Martin ratioReturn relative to average drawdown

4.38

6.85

-2.48

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HXX.TO vs. IEUR - Sharpe Ratio Comparison

The current HXX.TO Sharpe Ratio is 0.82, which is lower than the IEUR Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of HXX.TO and IEUR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

HXX.TOIEURDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.82

1.40

-0.58

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.66

0.77

-0.11

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.64

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.60

0.55

+0.04

Drawdowns

HXX.TO vs. IEUR - Drawdown Comparison

The maximum HXX.TO drawdown since its inception was -33.23%, which is greater than IEUR's maximum drawdown of -30.86%. Use the drawdown chart below to compare losses from any high point for HXX.TO and IEUR.

Loading charts...

Drawdown Indicators

HXX.TOIEURDifference

Max Drawdown

Largest peak-to-trough decline

-33.23%

-30.86%

-2.37%

Max Drawdown (1Y)

Largest decline over 1 year

-13.34%

-11.75%

-1.59%

Max Drawdown (3Y)

Largest decline over 3 years

-16.50%

-14.65%

-1.85%

Max Drawdown (5Y)

Largest decline over 5 years

-28.91%

-26.92%

-1.99%

Max Drawdown (10Y)

Largest decline over 10 years

—

-30.86%

—

Current Drawdown

Current decline from peak

-7.36%

0.00%

-7.36%

Average Drawdown

Average peak-to-trough decline

-5.35%

-5.36%

+0.01%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.96%

2.94%

+1.02%

Volatility

HXX.TO vs. IEUR - Volatility Comparison

Global X Europe 50 Index Corporate Class ETF (HXX.TO) has a higher volatility of 13.31% compared to iShares Core MSCI Europe ETF (IEUR) at 5.31%. This indicates that HXX.TO's price experiences larger fluctuations and is considered to be riskier than IEUR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

HXX.TOIEURDifference

Volatility (1M)

Calculated over the trailing 1-month period

13.31%

5.31%

+8.00%

Volatility (6M)

Calculated over the trailing 6-month period

18.63%

12.14%

+6.49%

Volatility (1Y)

Calculated over the trailing 1-year period

21.22%

14.41%

+6.81%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.17%

14.89%

+4.28%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.22%

15.99%

+3.23%

HXX.TO vs. IEUR - Expense Ratio Comparison

HXX.TO has a 0.19% expense ratio, which is higher than IEUR'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

HXX.TO vs. IEUR - Dividend Comparison

HXX.TO has not paid dividends to shareholders, while IEUR's dividend yield for the trailing twelve months is around 2.78%.

PositionTTM20252024202320222021202020192018201720162015
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%0.00%
IEUR
iShares Core MSCI Europe ETF		2.78%2.97%3.54%3.17%3.05%2.88%2.13%3.26%3.76%2.64%3.19%2.79%

Frequently Asked Questions

HXX.TO and IEUR have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IEUR is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IEUR is cheaper with a 0.09% expense ratio, compared with 0.19% for HXX.TO.

HXX.TO tracks Solactive Europe 50 Rolling Future Index (Total Return), while IEUR tracks MSCI Europe Investable Market Index. They also come from different issuers: Global X and iShares. Their fees differ too: 0.19% for HXX.TO and 0.09% for IEUR.

Portfolio Optimizer

Find the right allocation for HXX.TO and IEUR

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer