VCE.TO vs. HXCN.TO
VCE.TO (Vanguard FTSE Canada Index ETF) and HXCN.TO (Global X S&P/TSX Capped Composite Index Corporate Class ETF) are both Canada Equities funds - VCE.TO tracks the FTSE Canada Domestic Index while HXCN.TO tracks the S&P/TSX Capped Composite Index. Both are passively managed. Over the past 5 years, VCE.TO returned 14.43%/yr vs 14.86%/yr for HXCN.TO. Their correlation of 0.91 suggests significant overlap in exposure. VCE.TO charges 0.06%/yr vs 0.05%/yr for HXCN.TO.
Performance
VCE.TO vs. HXCN.TO - Performance Comparison
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Returns By Period
In the year-to-date period, VCE.TO achieves a 10.03% return, which is significantly lower than HXCN.TO's 10.69% return.
VCE.TO
- 1D
- -0.96%
- 1M
- 3.36%
- YTD
- 10.03%
- 6M
- 10.19%
- 1Y
- 28.98%
- 3Y*
- 22.22%
- 5Y*
- 14.43%
- 10Y*
- 12.58%
HXCN.TO
- 1D
- -0.96%
- 1M
- 3.65%
- YTD
- 10.69%
- 6M
- 12.85%
- 1Y
- 34.40%
- 3Y*
- 23.53%
- 5Y*
- 14.86%
- 10Y*
- —
VCE.TO vs. HXCN.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
VCE.TO Vanguard FTSE Canada Index ETF | 10.03% | 26.39% | 21.43% | 12.26% | -5.20% | 28.59% | -0.38% |
HXCN.TO Global X S&P/TSX Capped Composite Index Corporate Class ETF | 10.69% | 31.20% | 21.60% | 11.98% | -6.07% | 25.23% | 1.15% |
Correlation
The correlation between VCE.TO and HXCN.TO is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2020 | 0.91 |
The correlation between VCE.TO and HXCN.TO has been stable across timeframes, ranging from 0.91 to 0.96 - a consistent structural relationship.
VCE.TO vs. HXCN.TO - Sectors Allocation Comparison
Sectors
VCE.TO
HXCN.TO
Financial Services
Energy
Basic Materials
Industrials
Technology
Consumer Cyclical
Consumer Defensive
Utilities
Communication Services
Real Estate
Healthcare
-
Financial Services
VCE.TO
HXCN.TO
Energy
VCE.TO
HXCN.TO
Basic Materials
VCE.TO
HXCN.TO
Industrials
VCE.TO
HXCN.TO
Technology
VCE.TO
HXCN.TO
Consumer Cyclical
VCE.TO
HXCN.TO
Consumer Defensive
VCE.TO
HXCN.TO
Utilities
VCE.TO
HXCN.TO
Communication Services
VCE.TO
HXCN.TO
Real Estate
VCE.TO
HXCN.TO
Healthcare
VCE.TO
-
HXCN.TO
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Return for Risk
VCE.TO vs. HXCN.TO — Risk / Return Rank
VCE.TO
HXCN.TO
VCE.TO vs. HXCN.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Canada Index ETF (VCE.TO) and Global X S&P/TSX Capped Composite Index Corporate Class ETF (HXCN.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.
| VCE.TO | HXCN.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.49 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.60 | 3.92 | -0.32 |
| Martin ratioReturn relative to average drawdown | 16.77 | 17.26 | -0.50 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VCE.TO | HXCN.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.37 | 2.74 | -0.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.14 | 1.09 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.84 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.77 | 0.82 | -0.05 |
Drawdowns
VCE.TO vs. HXCN.TO - Drawdown Comparison
The maximum VCE.TO drawdown since its inception was -35.92%, roughly equal to the maximum HXCN.TO drawdown of -37.09%. Use the drawdown chart below to compare losses from any high point for VCE.TO and HXCN.TO.
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Drawdown Indicators
| VCE.TO | HXCN.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.92% | -37.09% | +1.17% |
Max Drawdown (1Y)Largest decline over 1 year | -8.09% | -8.81% | +0.72% |
Max Drawdown (3Y)Largest decline over 3 years | -12.16% | -12.49% | +0.33% |
Max Drawdown (5Y)Largest decline over 5 years | -15.90% | -16.27% | +0.37% |
Max Drawdown (10Y)Largest decline over 10 years | -35.92% | — | — |
Current DrawdownCurrent decline from peak | -0.96% | -0.96% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -3.73% | -4.11% | +0.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.73% | 2.00% | -0.27% |
Volatility
VCE.TO vs. HXCN.TO - Volatility Comparison
Vanguard FTSE Canada Index ETF (VCE.TO) and Global X S&P/TSX Capped Composite Index Corporate Class ETF (HXCN.TO) have volatilities of 3.47% and 3.48%, 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.
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Volatility by Period
| VCE.TO | HXCN.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.47% | 3.48% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 10.00% | 10.04% | -0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.30% | 12.60% | -0.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.78% | 13.72% | -0.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.99% | 17.81% | -2.82% |
VCE.TO vs. HXCN.TO - Expense Ratio Comparison
VCE.TO has a 0.06% expense ratio, which is higher than HXCN.TO's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VCE.TO vs. HXCN.TO - Dividend Comparison
VCE.TO's dividend yield for the trailing twelve months is around 2.17%, while HXCN.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HXCN.TO Global X S&P/TSX Capped Composite 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% | 0.00% |
VCE.TO Vanguard FTSE Canada Index ETF | 2.17% | 2.42% | 2.84% | 3.16% | 3.21% | 2.61% | 2.93% | 3.01% | 3.21% | 2.57% | 2.64% | 2.98% |
Frequently Asked Questions
With a correlation of 0.96, VCE.TO and HXCN.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.
On fees, HXCN.TO is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HXCN.TO is cheaper with a 0.05% expense ratio, compared with 0.06% for VCE.TO.
VCE.TO tracks FTSE Canada Domestic Index, while HXCN.TO tracks S&P/TSX Capped Composite Index. They also come from different issuers: Vanguard and Global X. Their fees differ too: 0.06% for VCE.TO and 0.05% for HXCN.TO.
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