OILU.TO vs. HEWB.TO
OILU.TO (SavvyLong Geared Crude Oil ETF) and HEWB.TO (Global X Equal Weight Canadian Banks Index Corporate Class ETF) are both exchange-traded funds - OILU.TO is a Oil & Gas fund tracking the Solactive Crude Oil Rolling Futures Index, while HEWB.TO is a Canada Equities fund tracking the Solactive Equal Weight Canada Banks Index. Both are passively managed. Over the past year, OILU.TO returned 69.89% vs 71.45% for HEWB.TO. At a correlation of -0.27, they often move in opposite directions. OILU.TO charges 1.25%/yr vs 0.28%/yr for HEWB.TO.
Performance
OILU.TO vs. HEWB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, OILU.TO achieves a 103.72% return, which is significantly higher than HEWB.TO's 29.89% return.
OILU.TO
- 1D
- -8.85%
- 1M
- -35.47%
- YTD
- 103.72%
- 6M
- 97.59%
- 1Y
- 69.89%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HEWB.TO
- 1D
- -0.39%
- 1M
- 6.90%
- YTD
- 29.89%
- 6M
- 29.34%
- 1Y
- 71.45%
- 3Y*
- 37.65%
- 5Y*
- 20.24%
- 10Y*
- —
OILU.TO vs. HEWB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
OILU.TO SavvyLong Geared Crude Oil ETF | 103.72% | -37.71% |
HEWB.TO Global X Equal Weight Canadian Banks Index Corporate Class ETF | 29.89% | 43.19% |
Correlation
The correlation between OILU.TO and HEWB.TO is -0.32, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.32 |
Correlation (All Time) Calculated using the full available price history since Jan 6, 2025 | -0.27 |
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Return for Risk
OILU.TO vs. HEWB.TO — Risk / Return Rank
OILU.TO
HEWB.TO
OILU.TO vs. HEWB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SavvyLong Geared Crude Oil ETF (OILU.TO) and Global X Equal Weight Canadian Banks Index Corporate Class ETF (HEWB.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.
| OILU.TO | HEWB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.72 | ||
| Sortino ratioReturn per unit of downside risk | -5.67 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 2.01 | -0.77 |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | 8.01 | -6.65 |
| Martin ratioReturn relative to average drawdown | 3.66 | 36.49 | -32.83 |
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Drawdowns
OILU.TO vs. HEWB.TO - Drawdown Comparison
The maximum OILU.TO drawdown since its inception was -52.00%, which is greater than HEWB.TO's maximum drawdown of -39.43%. Use the drawdown chart below to compare losses from any high point for OILU.TO and HEWB.TO.
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Drawdown Indicators
| OILU.TO | HEWB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.00% | -39.43% | -12.57% |
Max Drawdown (1Y)Largest decline over 1 year | -52.00% | -8.97% | -43.03% |
Max Drawdown (3Y)Largest decline over 3 years | — | -14.84% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.89% | — |
Current DrawdownCurrent decline from peak | -52.00% | -0.39% | -51.61% |
Average DrawdownAverage peak-to-trough decline | -28.75% | -7.21% | -21.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.30% | 1.96% | +17.34% |
Volatility
OILU.TO vs. HEWB.TO - Volatility Comparison
SavvyLong Geared Crude Oil ETF (OILU.TO) has a higher volatility of 25.20% compared to Global X Equal Weight Canadian Banks Index Corporate Class ETF (HEWB.TO) at 4.07%. This indicates that OILU.TO's price experiences larger fluctuations and is considered to be riskier than HEWB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OILU.TO | HEWB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.20% | 4.07% | +21.13% |
Volatility (6M)Calculated over the trailing 6-month period | 81.27% | 11.39% | +69.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 88.91% | 13.03% | +75.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.87% | 14.03% | +68.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 82.87% | 19.25% | +63.62% |
OILU.TO vs. HEWB.TO - Expense Ratio Comparison
OILU.TO has a 1.25% expense ratio, which is higher than HEWB.TO's 0.28% expense ratio.
Dividends
OILU.TO vs. HEWB.TO - Dividend Comparison
Neither OILU.TO nor HEWB.TO has paid dividends to shareholders.
Frequently Asked Questions
OILU.TO and HEWB.TO have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HEWB.TO is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HEWB.TO is cheaper with a 0.28% expense ratio, compared with 1.25% for OILU.TO.
OILU.TO is categorized as Oil & Gas, while HEWB.TO is Canada Equities. OILU.TO tracks Solactive Crude Oil Rolling Futures Index, while HEWB.TO tracks Solactive Equal Weight Canada Banks Index. They also come from different issuers: LongPoint and Global X. Their fees differ too: 1.25% for OILU.TO and 0.28% for HEWB.TO.
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