QUU.TO vs. HULC.TO

Last updated Jun 5, 2026

QUU.TO (Mackenzie US Large Cap Equity Index ETF) and HULC.TO (Global X US Large Cap Index Corporate Class ETF) are both Large Cap Blend Equities funds - QUU.TO tracks the Solactive US Large Cap CAD Index while HULC.TO tracks the Solactive US Large Cap Index (CA NTR). Both are passively managed. Over the past 5 years, QUU.TO returned 16.94%/yr vs 34.29%/yr for HULC.TO. A 0.76 correlation means they provide meaningful diversification when combined. QUU.TO charges 0.07%/yr vs 0.08%/yr for HULC.TO.

Performance

QUU.TO vs. HULC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Mackenzie US Large Cap Equity Index ETF (QUU.TO) and Global X US Large Cap Index Corporate Class ETF (HULC.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with QUU.TO at 13.03% and HULC.TO at 13.03%.

QUU.TO

• 1D: 0.43%
• 1M: 6.93%
• YTD: 13.03%
• 6M: 11.12%
• 1Y: 30.75%
• 3Y*: 24.45%
• 5Y*: 16.94%
• 10Y*: —

HULC.TO

• 1D: 0.46%
• 1M: 7.04%
• YTD: 13.03%
• 6M: 11.03%
• 1Y: 30.67%
• 3Y*: 24.21%
• 5Y*: 34.29%
• 10Y*: —

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

QUU.TO vs. HULC.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
QUU.TO Mackenzie US Large Cap Equity Index ETF	13.03%	13.08%	35.77%	25.01%	-15.10%	26.45%	24.80%
HULC.TO Global X US Large Cap Index Corporate Class ETF	13.03%	12.69%	35.93%	24.43%	-14.75%	153.78%	26.06%

Correlation

The correlation between QUU.TO and HULC.TO is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since Mar 2, 2020	0.76

The correlation between QUU.TO and HULC.TO shifts across timeframes, from 0.76 (all time) to 0.93 (1 year), reflecting how their relationship changes across market environments.

QUU.TO vs. HULC.TO - Sectors Allocation Comparison

Sectors	QUU.TO	HULC.TO
Technology	35.3%	35.3%
Communication Services	11.5%	11.6%
Financial Services	11.5%	11.5%
Consumer Cyclical	10.0%	10.0%
Healthcare	8.8%	8.8%
Industrials	8.6%	8.5%
Consumer Defensive	4.8%	4.8%
Energy	3.6%	3.6%
Utilities	2.3%	2.3%
Basic Materials	1.8%	1.8%
Real Estate	1.8%	1.8%

Return for Risk

QUU.TO vs. HULC.TO — Risk / Return Rank

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

QUU.TO

QUU.TO Risk / Return Rank: 76
QUU.TO Sharpe Ratio Rank: 79
QUU.TO Sortino Ratio Rank: 78
QUU.TO Omega Ratio Rank: 79
QUU.TO Calmar Ratio Rank: 71
QUU.TO Martin Ratio Rank: 71

HULC.TO

HULC.TO Risk / Return Rank: 75
HULC.TO Sharpe Ratio Rank: 78
HULC.TO Sortino Ratio Rank: 76
HULC.TO Omega Ratio Rank: 78
HULC.TO Calmar Ratio Rank: 72
HULC.TO Martin Ratio Rank: 69

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.

QUU.TO vs. HULC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mackenzie US Large Cap Equity Index ETF (QUU.TO) and Global X US Large Cap Index Corporate Class ETF (HULC.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.

	QUU.TO	HULC.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.53	2.46	+0.06
Sortino ratio: Return per unit of downside risk	3.46	3.36	+0.10
Omega ratio: Gain probability vs. loss probability	1.46	1.46	+0.01
Calmar ratio: Return relative to maximum drawdown	3.51	3.53	-0.03
Martin ratio: Return relative to average drawdown	13.05	12.66	+0.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QUU.TO vs. HULC.TO - Sharpe Ratio Comparison

The current QUU.TO Sharpe Ratio is 2.53, which is comparable to the HULC.TO Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of QUU.TO and HULC.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

	QUU.TO	HULC.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.53	2.46	+0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.11	0.73	+0.38
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	0.75	+0.17

Drawdowns

QUU.TO vs. HULC.TO - Drawdown Comparison

The maximum QUU.TO drawdown since its inception was -26.86%, which is greater than HULC.TO's maximum drawdown of -23.94%. Use the drawdown chart below to compare losses from any high point for QUU.TO and HULC.TO.

Drawdown Indicators

	QUU.TO	HULC.TO	Difference
Max Drawdown Largest peak-to-trough decline	-26.86%	-23.94%	-2.92%
Max Drawdown (1Y) Largest decline over 1 year	-8.81%	-8.73%	-0.08%
Max Drawdown (3Y) Largest decline over 3 years	-19.23%	-19.46%	+0.23%
Max Drawdown (5Y) Largest decline over 5 years	-24.00%	-23.94%	-0.06%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.42%	-4.68%	+0.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.36%	2.43%	-0.07%

Volatility

QUU.TO vs. HULC.TO - Volatility Comparison

Mackenzie US Large Cap Equity Index ETF (QUU.TO) has a higher volatility of 3.73% compared to Global X US Large Cap Index Corporate Class ETF (HULC.TO) at 2.96%. This indicates that QUU.TO's price experiences larger fluctuations and is considered to be riskier than HULC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QUU.TO	HULC.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.73%	2.96%	+0.77%
Volatility (6M) Calculated over the trailing 6-month period	9.22%	9.25%	-0.03%
Volatility (1Y) Calculated over the trailing 1-year period	12.23%	12.51%	-0.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.30%	46.99%	-31.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.29%	43.80%	-26.51%

QUU.TO vs. HULC.TO - Expense Ratio Comparison

QUU.TO has a 0.07% expense ratio, which is lower than HULC.TO's 0.08% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

QUU.TO vs. HULC.TO - Dividend Comparison

QUU.TO's dividend yield for the trailing twelve months is around 0.88%, while HULC.TO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
HULC.TO Global X US Large Cap Index Corporate Class ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QUU.TO Mackenzie US Large Cap Equity Index ETF	0.88%	0.97%	1.00%	1.21%	1.59%	0.98%	1.34%	1.59%	1.55%

Frequently Asked Questions

Can I hold both QUU.TO and HULC.TO in my portfolio?

With a correlation of 0.93, QUU.TO and HULC.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, QUU.TO or HULC.TO?

On fees, QUU.TO is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QUU.TO or HULC.TO?

QUU.TO is cheaper with a 0.07% expense ratio, compared with 0.08% for HULC.TO.

What is the main difference between QUU.TO and HULC.TO?

QUU.TO tracks Solactive US Large Cap CAD Index, while HULC.TO tracks Solactive US Large Cap Index (CA NTR). They also come from different issuers: Mackenzie and Global X. Their fees differ too: 0.07% for QUU.TO and 0.08% for HULC.TO.