PAYG.TO vs. HEQL.TO

Last updated Jun 4, 2026

PAYG.TO (Brompton Global Equity HighPay ETF) and HEQL.TO (Global X Enhanced All-Equity Asset Allocation ETF CAD) are both exchange-traded funds - PAYG.TO is a Global Equity Income fund actively managed by Brompton, while HEQL.TO is a Leveraged Equities fund actively managed by Global X. Both are actively managed. A 0.63 correlation means they provide meaningful diversification when combined.

Performance

PAYG.TO vs. HEQL.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Brompton Global Equity HighPay ETF (PAYG.TO) and Global X Enhanced All-Equity Asset Allocation ETF CAD (HEQL.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PAYG.TO

• 1D: -0.94%
• 1M: 4.25%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HEQL.TO

• 1D: -0.47%
• 1M: 8.44%
• YTD: 16.61%
• 6M: 16.02%
• 1Y: 39.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PAYG.TO vs. HEQL.TO - Yearly Performance Comparison

	2026 (YTD)
PAYG.TO Brompton Global Equity HighPay ETF	18.04%
HEQL.TO Global X Enhanced All-Equity Asset Allocation ETF CAD	16.38%

Correlation

The correlation between PAYG.TO and HEQL.TO is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 1, 2026	0.63

Return for Risk

PAYG.TO vs. HEQL.TO — Risk / Return Rank

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

HEQL.TO

HEQL.TO Risk / Return Rank: 81
HEQL.TO Sharpe Ratio Rank: 82
HEQL.TO Sortino Ratio Rank: 82
HEQL.TO Omega Ratio Rank: 80
HEQL.TO Calmar Ratio Rank: 78
HEQL.TO Martin Ratio Rank: 83

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.

PAYG.TO vs. HEQL.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brompton Global Equity HighPay ETF (PAYG.TO) and Global X Enhanced All-Equity Asset Allocation ETF CAD (HEQL.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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	PAYG.TO	HEQL.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.71	—
Sharpe Ratio (All Time) Calculated using the full available price history	6.88	2.08	+4.79

Drawdowns

PAYG.TO vs. HEQL.TO - Drawdown Comparison

The maximum PAYG.TO drawdown since its inception was -3.03%, smaller than the maximum HEQL.TO drawdown of -19.86%. Use the drawdown chart below to compare losses from any high point for PAYG.TO and HEQL.TO.

Drawdown Indicators

	PAYG.TO	HEQL.TO	Difference
Max Drawdown Largest peak-to-trough decline	-3.03%	-19.86%	+16.83%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.69%	—
Current Drawdown Current decline from peak	-2.32%	-0.47%	-1.85%
Average Drawdown Average peak-to-trough decline	-0.93%	-1.85%	+0.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.46%	—

Volatility

Volatility by Period

	PAYG.TO	HEQL.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.35%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.85%	—
Volatility (1Y) Calculated over the trailing 1-year period	24.17%	15.73%	+8.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.17%	18.36%	+5.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.17%	18.36%	+5.81%

Dividends

PAYG.TO vs. HEQL.TO - Dividend Comparison

PAYG.TO's dividend yield for the trailing twelve months is around 2.91%, more than HEQL.TO's 1.62% yield.

Position	TTM	2025	2024	2023
HEQL.TO Global X Enhanced All-Equity Asset Allocation ETF CAD	1.62%	1.82%	1.75%	0.55%
PAYG.TO Brompton Global Equity HighPay ETF	2.91%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PAYG.TO and HEQL.TO in my portfolio?

PAYG.TO and HEQL.TO have a correlation of 0.63, 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 PAYG.TO and HEQL.TO?

PAYG.TO is categorized as Global Equity Income, while HEQL.TO is Leveraged Equities. They also come from different issuers: Brompton and Global X.