TTP.TO vs. HEWB.TO

Last updated Jun 24, 2026

TTP.TO (TD Canadian Equity Index ETF) and HEWB.TO (Global X Equal Weight Canadian Banks Index Corporate Class ETF) are both Canada Equities funds - TTP.TO tracks the Solactive Canada Broad Market Index (CA NTR) while HEWB.TO tracks the Solactive Equal Weight Canada Banks Index. Both are passively managed. Over the past 5 years, TTP.TO returned 14.95%/yr vs 20.43%/yr for HEWB.TO. A 0.67 correlation means they provide meaningful diversification when combined. TTP.TO charges 0.05%/yr vs 0.28%/yr for HEWB.TO.

Performance

TTP.TO vs. HEWB.TO - Performance Comparison

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

Returns By Period

In the year-to-date period, TTP.TO achieves a 11.16% return, which is significantly lower than HEWB.TO's 30.39% return.

TTP.TO

• 1D: -0.30%
• 1M: 1.39%
• YTD: 11.16%
• 6M: 10.09%
• 1Y: 34.28%
• 3Y*: 25.14%
• 5Y*: 14.95%
• 10Y*: 13.16%

HEWB.TO

• 1D: 0.32%
• 1M: 8.23%
• YTD: 30.39%
• 6M: 30.16%
• 1Y: 73.55%
• 3Y*: 37.83%
• 5Y*: 20.43%
• 10Y*: —

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

TTP.TO vs. HEWB.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
TTP.TO TD Canadian Equity Index ETF	11.16%	31.96%	21.65%	11.66%	-5.76%	25.31%	6.31%	7.93%
HEWB.TO Global X Equal Weight Canadian Banks Index Corporate Class ETF	30.39%	43.48%	24.54%	11.00%	-10.46%	39.19%	4.74%	3.56%

Correlation

The correlation between TTP.TO and HEWB.TO is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (All Time) Calculated using the full available price history since Mar 4, 2019	0.67

The correlation between TTP.TO and HEWB.TO has been stable across timeframes, ranging from 0.66 to 0.72 - a consistent structural relationship.

TTP.TO vs. HEWB.TO - Sectors Allocation Comparison

Sectors	TTP.TO	HEWB.TO
Financial Services	36.1%	100.0%
Basic Materials	16.7%	-
Energy	16.6%	-
Industrials	9.8%	-
Technology	6.8%	-
Consumer Defensive	4.0%	-
Utilities	2.9%	-
Consumer Cyclical	2.5%	-
Communication Services	1.8%	-
Real Estate	0.7%	-
Healthcare	0.2%	-

Return for Risk

TTP.TO vs. HEWB.TO — Risk / Return Rank

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

TTP.TO

TTP.TO Risk / Return Rank: 81
TTP.TO Sharpe Ratio Rank: 84
TTP.TO Sortino Ratio Rank: 80
TTP.TO Omega Ratio Rank: 82
TTP.TO Calmar Ratio Rank: 75
TTP.TO Martin Ratio Rank: 84

HEWB.TO

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

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.

TTP.TO vs. HEWB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TD Canadian Equity Index ETF (TTP.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.

	TTP.TO	HEWB.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.61	5.68	-3.07
Sortino ratio: Return per unit of downside risk	3.36	7.46	-4.11
Omega ratio: Gain probability vs. loss probability	1.46	2.04	-0.57
Calmar ratio: Return relative to maximum drawdown	3.65	8.25	-4.59
Martin ratio: Return relative to average drawdown	16.57	37.57	-21.00

TTP.TO vs. HEWB.TO - Sharpe Ratio Comparison

The current TTP.TO Sharpe Ratio is 2.61, which is lower than the HEWB.TO Sharpe Ratio of 5.68. The chart below compares the historical Sharpe Ratios of TTP.TO and HEWB.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.

Drawdowns

TTP.TO vs. HEWB.TO - Drawdown Comparison

The maximum TTP.TO drawdown since its inception was -37.03%, smaller than the maximum HEWB.TO drawdown of -39.43%. Use the drawdown chart below to compare losses from any high point for TTP.TO and HEWB.TO.

Drawdown Indicators

	TTP.TO	HEWB.TO	Difference
Max Drawdown Largest peak-to-trough decline	-37.03%	-39.43%	+2.40%
Max Drawdown (1Y) Largest decline over 1 year	-9.43%	-8.97%	-0.46%
Max Drawdown (3Y) Largest decline over 3 years	-12.21%	-14.84%	+2.63%
Max Drawdown (5Y) Largest decline over 5 years	-16.44%	-25.89%	+9.45%
Max Drawdown (10Y) Largest decline over 10 years	-37.03%	—	—
Current Drawdown Current decline from peak	-1.40%	0.00%	-1.40%
Average Drawdown Average peak-to-trough decline	-3.34%	-7.21%	+3.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	1.96%	+0.11%

Volatility

TTP.TO vs. HEWB.TO - Volatility Comparison

TD Canadian Equity Index ETF (TTP.TO) and Global X Equal Weight Canadian Banks Index Corporate Class ETF (HEWB.TO) have volatilities of 4.19% and 4.10%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TTP.TO	HEWB.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.19%	4.10%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	10.78%	11.39%	-0.61%
Volatility (1Y) Calculated over the trailing 1-year period	13.21%	13.01%	+0.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.28%	14.03%	-0.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.20%	19.26%	-4.06%

TTP.TO vs. HEWB.TO - Expense Ratio Comparison

TTP.TO has a 0.05% expense ratio, which is lower than HEWB.TO's 0.28% expense ratio.

Dividends

TTP.TO vs. HEWB.TO - Dividend Comparison

TTP.TO's dividend yield for the trailing twelve months is around 1.88%, while HEWB.TO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
HEWB.TO Global X Equal Weight Canadian Banks Index Corporate Class ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TTP.TO TD Canadian Equity Index ETF	1.88%	2.06%	2.55%	2.91%	3.68%	1.86%	2.84%	2.09%	2.95%	2.41%	1.93%

Frequently Asked Questions

Can I hold both TTP.TO and HEWB.TO in my portfolio?

TTP.TO and HEWB.TO have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TTP.TO or HEWB.TO?

On fees, TTP.TO is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TTP.TO or HEWB.TO?

TTP.TO is cheaper with a 0.05% expense ratio, compared with 0.28% for HEWB.TO.

What is the main difference between TTP.TO and HEWB.TO?

TTP.TO tracks Solactive Canada Broad Market Index (CA NTR), while HEWB.TO tracks Solactive Equal Weight Canada Banks Index. They also come from different issuers: TD and Global X. Their fees differ too: 0.05% for TTP.TO and 0.28% for HEWB.TO.