PPLN.TO vs. HBNK.TO

Last updated Jun 5, 2026

PPLN.TO (Global X Equal Weight Canadian Pipelines Index ETF) and HBNK.TO (Global X Equal Weight Banks Index ETF) are both exchange-traded funds - PPLN.TO is a Energy Equities fund tracking the Mirae Asset Equal Weight Canadian Pipeline Index, while HBNK.TO is a Financials Equities fund tracking the Solactive Equal Weight Canada Banks Index. Both are passively managed. Over the past year, PPLN.TO returned 41.37% vs 63.39% for HBNK.TO. At a 0.18 correlation, their price movements are largely independent. PPLN.TO charges 0.31%/yr vs 0.09%/yr for HBNK.TO.

Performance

PPLN.TO vs. HBNK.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Equal Weight Canadian Pipelines Index ETF (PPLN.TO) and Global X Equal Weight Banks Index ETF (HBNK.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PPLN.TO achieves a 30.75% return, which is significantly higher than HBNK.TO's 21.25% return.

PPLN.TO

• 1D: 1.33%
• 1M: 8.27%
• YTD: 30.75%
• 6M: 29.08%
• 1Y: 41.37%
• 3Y*: 19.39%
• 5Y*: 14.37%
• 10Y*: 10.82%

HBNK.TO

• 1D: 2.02%
• 1M: 6.89%
• YTD: 21.25%
• 6M: 24.48%
• 1Y: 63.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PPLN.TO vs. HBNK.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PPLN.TO Global X Equal Weight Canadian Pipelines Index ETF	30.75%	4.14%	17.18%	4.90%
HBNK.TO Global X Equal Weight Banks Index ETF	21.25%	43.71%	24.77%	8.99%

Correlation

The correlation between PPLN.TO and HBNK.TO is -0.04, 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	-0.04
Correlation (All Time) Calculated using the full available price history since Jul 10, 2023	0.18

The correlation between PPLN.TO and HBNK.TO shifts across timeframes, from -0.04 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PPLN.TO vs. HBNK.TO — Risk / Return Rank

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

PPLN.TO

PPLN.TO Risk / Return Rank: 80
PPLN.TO Sharpe Ratio Rank: 88
PPLN.TO Sortino Ratio Rank: 89
PPLN.TO Omega Ratio Rank: 84
PPLN.TO Calmar Ratio Rank: 80
PPLN.TO Martin Ratio Rank: 62

HBNK.TO

HBNK.TO Risk / Return Rank: 96
HBNK.TO Sharpe Ratio Rank: 97
HBNK.TO Sortino Ratio Rank: 98
HBNK.TO Omega Ratio Rank: 97
HBNK.TO Calmar Ratio Rank: 94
HBNK.TO Martin Ratio Rank: 95

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.

PPLN.TO vs. HBNK.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Equal Weight Canadian Pipelines Index ETF (PPLN.TO) and Global X Equal Weight Banks Index ETF (HBNK.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.

	PPLN.TO	HBNK.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.88	4.98	-2.10
Sortino ratio: Return per unit of downside risk	4.04	6.78	-2.75
Omega ratio: Gain probability vs. loss probability	1.50	1.92	-0.42
Calmar ratio: Return relative to maximum drawdown	4.07	7.52	-3.45
Martin ratio: Return relative to average drawdown	10.84	32.68	-21.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PPLN.TO vs. HBNK.TO - Sharpe Ratio Comparison

The current PPLN.TO Sharpe Ratio is 2.88, which is lower than the HBNK.TO Sharpe Ratio of 4.98. The chart below compares the historical Sharpe Ratios of PPLN.TO and HBNK.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.

Sharpe Ratios by Period

	PPLN.TO	HBNK.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.88	4.98	-2.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	2.72	-2.38

Drawdowns

PPLN.TO vs. HBNK.TO - Drawdown Comparison

The maximum PPLN.TO drawdown since its inception was -59.05%, which is greater than HBNK.TO's maximum drawdown of -14.78%. Use the drawdown chart below to compare losses from any high point for PPLN.TO and HBNK.TO.

Drawdown Indicators

	PPLN.TO	HBNK.TO	Difference
Max Drawdown Largest peak-to-trough decline	-59.05%	-14.78%	-44.27%
Max Drawdown (1Y) Largest decline over 1 year	-10.22%	-8.48%	-1.74%
Max Drawdown (3Y) Largest decline over 3 years	-15.31%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.54%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-59.05%	—	—
Current Drawdown Current decline from peak	-1.64%	-0.33%	-1.31%
Average Drawdown Average peak-to-trough decline	-9.47%	-2.32%	-7.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.83%	1.95%	+1.88%

Volatility

PPLN.TO vs. HBNK.TO - Volatility Comparison

Global X Equal Weight Canadian Pipelines Index ETF (PPLN.TO) has a higher volatility of 5.77% compared to Global X Equal Weight Banks Index ETF (HBNK.TO) at 5.30%. This indicates that PPLN.TO's price experiences larger fluctuations and is considered to be riskier than HBNK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PPLN.TO	HBNK.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.77%	5.30%	+0.47%
Volatility (6M) Calculated over the trailing 6-month period	11.51%	11.33%	+0.18%
Volatility (1Y) Calculated over the trailing 1-year period	14.43%	12.80%	+1.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.40%	12.75%	+4.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.20%	12.75%	+10.45%

PPLN.TO vs. HBNK.TO - Expense Ratio Comparison

PPLN.TO has a 0.31% expense ratio, which is higher than HBNK.TO's 0.09% expense ratio.

Dividends

PPLN.TO vs. HBNK.TO - Dividend Comparison

PPLN.TO's dividend yield for the trailing twelve months is around 4.20%, more than HBNK.TO's 2.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HBNK.TO Global X Equal Weight Banks Index ETF	2.77%	3.24%	4.15%	2.45%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PPLN.TO Global X Equal Weight Canadian Pipelines Index ETF	4.20%	4.35%	2.94%	3.77%	3.23%	3.47%	5.76%	4.40%	5.21%	4.31%	3.99%	4.41%

Frequently Asked Questions

Can I hold both PPLN.TO and HBNK.TO in my portfolio?

PPLN.TO and HBNK.TO have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PPLN.TO or HBNK.TO?

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

Which ETF is cheaper, PPLN.TO or HBNK.TO?

HBNK.TO is cheaper with a 0.09% expense ratio, compared with 0.31% for PPLN.TO.

What is the main difference between PPLN.TO and HBNK.TO?

PPLN.TO is categorized as Energy Equities, while HBNK.TO is Financials Equities. PPLN.TO tracks Mirae Asset Equal Weight Canadian Pipeline Index, while HBNK.TO tracks Solactive Equal Weight Canada Banks Index. Their fees differ too: 0.31% for PPLN.TO and 0.09% for HBNK.TO.