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MPAY.TO vs. HXS.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MPAY.TO vs. HXS.TO

Last updated Jun 4, 2026

MPAY.TO (Global X Mid-Term U.S. Treasury Premium Yield ETF) and HXS.TO (Global X S&P 500 Index Corporate Class ETF) are both exchange-traded funds - MPAY.TO is a Intermediate Core-Plus Bond fund actively managed by Global X, while HXS.TO is a S&P 500 fund tracking the S&P 500 Index. MPAY.TO is actively managed, while HXS.TO is passively managed. Over the past year, MPAY.TO returned 6.63% vs 29.00% for HXS.TO. At a 0.13 correlation, their price movements are largely independent. MPAY.TO charges 0.56%/yr vs 0.10%/yr for HXS.TO.

Performance

MPAY.TO vs. HXS.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Mid-Term U.S. Treasury Premium Yield ETF (MPAY.TO) and Global X S&P 500 Index Corporate Class ETF (HXS.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, MPAY.TO achieves a 2.37% return, which is significantly lower than HXS.TO's 11.99% return.

MPAY.TO

1D
0.27%
1M
2.57%
YTD
2.37%
6M
0.07%
1Y
6.63%
3Y*
—
5Y*
—
10Y*
—

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

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

2026 (YTD)202520242023
MPAY.TO
Global X Mid-Term U.S. Treasury Premium Yield ETF		2.37%0.18%7.40%3.78%
HXS.TO
Global X S&P 500 Index Corporate Class ETF		11.99%11.93%34.98%7.70%

Correlation

The correlation between MPAY.TO and HXS.TO is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.19

Correlation (All Time)
Calculated using the full available price history since Oct 10, 2023

0.13

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 Mid-Term U.S. Treasury Premium Yield ETF

Global X S&P 500 Index Corporate Class ETF

Often compared with MPAY.TO:
MPAY.TO vs. CASH.TOMPAY.TO vs. HSAV.TOMPAY.TO vs. HBNK.TOMPAY.TO vs. HXT.TOMPAY.TO vs. CHPS.TOMPAY.TO vs. CBIL.TOMPAY.TO vs. QQCL.TO
Often compared with HXS.TO:
HXS.TO vs. HXQ.TOHXS.TO vs. VFV.TOHXS.TO vs. ZSP.TOHXS.TO vs. VOOHXS.TO vs. XUS.TOHXS.TO vs. SPYHXS.TO vs. TEC.TO

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MPAY.TO
MPAY.TO Risk / Return Rank: 3030
Overall Rank
MPAY.TO Sharpe Ratio Rank: 3232
Sharpe Ratio Rank
MPAY.TO Sortino Ratio Rank: 3333
Sortino Ratio Rank
MPAY.TO Omega Ratio Rank: 3131
Omega Ratio Rank
MPAY.TO Calmar Ratio Rank: 2929
Calmar Ratio Rank
MPAY.TO Martin Ratio Rank: 2525
Martin Ratio Rank
HXS.TO
HXS.TO Risk / Return Rank: 7171
Overall Rank
HXS.TO Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
HXS.TO Sortino Ratio Rank: 7373
Sortino Ratio Rank
HXS.TO Omega Ratio Rank: 7474
Omega Ratio Rank
HXS.TO Calmar Ratio Rank: 6666
Calmar Ratio Rank
HXS.TO Martin Ratio Rank: 6767
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.

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

This table presents a comparison of risk-adjusted performance metrics for Global X Mid-Term U.S. Treasury Premium Yield ETF (MPAY.TO) and Global X S&P 500 Index Corporate Class ETF (HXS.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.

MPAY.TOHXS.TODifference
Sharpe ratioReturn per unit of total volatility
1.14
2.46

-1.32

Sortino ratioReturn per unit of downside risk
1.72
3.36

-1.64

Omega ratioGain probability vs. loss probability

1.21

1.45

-0.25

Calmar ratioReturn relative to maximum drawdown

1.36

3.33

-1.97

Martin ratioReturn relative to average drawdown

3.14

12.62

-9.49

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

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

The current MPAY.TO Sharpe Ratio is 1.14, which is lower than the HXS.TO Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of MPAY.TO and HXS.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.

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Sharpe Ratios by Period

MPAY.TOHXS.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.14

2.46

-1.32

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

1.11

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.97

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.74

1.02

-0.28

Drawdowns

MPAY.TO vs. HXS.TO - Drawdown Comparison

The maximum MPAY.TO drawdown since its inception was -7.95%, smaller than the maximum HXS.TO drawdown of -27.42%. Use the drawdown chart below to compare losses from any high point for MPAY.TO and HXS.TO.

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Drawdown Indicators

MPAY.TOHXS.TODifference

Max Drawdown

Largest peak-to-trough decline

-7.95%

-27.42%

+19.47%

Max Drawdown (1Y)

Largest decline over 1 year

-4.88%

-8.74%

+3.86%

Max Drawdown (3Y)

Largest decline over 3 years

—

-18.98%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-22.63%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-27.42%

—

Current Drawdown

Current decline from peak

-1.43%

-0.27%

-1.16%

Average Drawdown

Average peak-to-trough decline

-2.16%

-3.54%

+1.38%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.12%

2.30%

-0.18%

Volatility

MPAY.TO vs. HXS.TO - Volatility Comparison

The current volatility for Global X Mid-Term U.S. Treasury Premium Yield ETF (MPAY.TO) is 1.80%, while Global X S&P 500 Index Corporate Class ETF (HXS.TO) has a volatility of 3.27%. This indicates that MPAY.TO experiences smaller price fluctuations and is considered to be less risky than HXS.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MPAY.TOHXS.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

1.80%

3.27%

-1.47%

Volatility (6M)

Calculated over the trailing 6-month period

4.41%

8.83%

-4.42%

Volatility (1Y)

Calculated over the trailing 1-year period

5.84%

11.85%

-6.01%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.03%

15.13%

-8.10%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

7.03%

16.53%

-9.50%

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

MPAY.TO has a 0.56% expense ratio, which is higher than HXS.TO's 0.10% expense ratio.

Dividends

MPAY.TO vs. HXS.TO - Dividend Comparison

MPAY.TO's dividend yield for the trailing twelve months is around 8.73%, while HXS.TO has not paid dividends to shareholders.

PositionTTM202520242023
HXS.TO
Global X S&P 500 Index Corporate Class ETF		0.00%0.00%0.00%0.00%
MPAY.TO
Global X Mid-Term U.S. Treasury Premium Yield ETF		8.73%9.21%9.12%2.21%

Frequently Asked Questions

MPAY.TO and HXS.TO have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, HXS.TO is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

HXS.TO is cheaper with a 0.10% expense ratio, compared with 0.56% for MPAY.TO.

MPAY.TO is categorized as Intermediate Core-Plus Bond, while HXS.TO is S&P 500. Their fees differ too: 0.56% for MPAY.TO and 0.10% for HXS.TO.

Portfolio Optimizer

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