VDY.TO vs. HXH.TO

Last updated Jun 14, 2026

VDY.TO (Vanguard FTSE Canadian High Dividend Yield Index ETF) and HXH.TO (Global X Canadian High Dividend Index Corporate Class ETF) are both exchange-traded funds - VDY.TO is a Dividend fund tracking the FTSE Canada High Dividend Yield Index, while HXH.TO is a Canada Equities fund tracking the Solactive Canadian High Dividend Yield Index. Both are passively managed. Over the past 10 years, VDY.TO returned 14.58%/yr vs 12.10%/yr for HXH.TO. A 0.68 correlation means they provide meaningful diversification when combined. VDY.TO charges 0.22%/yr vs 0.11%/yr for HXH.TO.

Performance

VDY.TO vs. HXH.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO) and Global X Canadian High Dividend Index Corporate Class ETF (HXH.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VDY.TO achieves a 23.81% return, which is significantly higher than HXH.TO's 22.45% return. Over the past 10 years, VDY.TO has outperformed HXH.TO with an annualized return of 14.58%, while HXH.TO has yielded a comparatively lower 12.10% annualized return.

VDY.TO

• 1D: 0.65%
• 1M: 5.11%
• YTD: 23.81%
• 6M: 23.43%
• 1Y: 49.57%
• 3Y*: 27.42%
• 5Y*: 17.91%
• 10Y*: 14.58%

HXH.TO

• 1D: 0.49%
• 1M: 4.48%
• YTD: 22.45%
• 6M: 23.40%
• 1Y: 42.83%
• 3Y*: 21.90%
• 5Y*: 16.47%
• 10Y*: 12.10%

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

VDY.TO vs. HXH.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VDY.TO Vanguard FTSE Canadian High Dividend Yield Index ETF	23.81%	29.21%	21.44%	8.41%	-0.23%	36.60%	-1.37%	21.42%	-10.09%	8.32%
HXH.TO Global X Canadian High Dividend Index Corporate Class ETF	22.45%	25.86%	15.24%	6.33%	5.00%	34.51%	-7.66%	22.17%	-14.86%	8.10%

Correlation

The correlation between VDY.TO and HXH.TO is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since Apr 12, 2016	0.68

The correlation between VDY.TO and HXH.TO has been stable across timeframes, ranging from 0.68 to 0.75 - a consistent structural relationship.

VDY.TO vs. HXH.TO - Sectors Allocation Comparison

Sectors	VDY.TO	HXH.TO
Financial Services	56.0%	-
Energy	30.8%	-
Utilities	4.1%	-
Consumer Cyclical	3.0%	-
Communication Services	2.8%	-
Basic Materials	2.2%	-
Consumer Defensive	0.4%	-
Technology	0.4%	-
Industrials	0.2%	-
Healthcare	0.1%	-
Real Estate	-	32.3%

Return for Risk

VDY.TO vs. HXH.TO — Risk / Return Rank

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

VDY.TO

VDY.TO Risk / Return Rank: 98
VDY.TO Sharpe Ratio Rank: 99
VDY.TO Sortino Ratio Rank: 98
VDY.TO Omega Ratio Rank: 98
VDY.TO Calmar Ratio Rank: 98
VDY.TO Martin Ratio Rank: 98

HXH.TO

HXH.TO Risk / Return Rank: 98
HXH.TO Sharpe Ratio Rank: 98
HXH.TO Sortino Ratio Rank: 98
HXH.TO Omega Ratio Rank: 98
HXH.TO Calmar Ratio Rank: 99
HXH.TO Martin Ratio Rank: 98

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.

VDY.TO vs. HXH.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO) and Global X Canadian High Dividend Index Corporate Class ETF (HXH.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.

	VDY.TO	HXH.TO	Difference
Sharpe ratio: Return per unit of total volatility	5.98	5.30	+0.69
Sortino ratio: Return per unit of downside risk	8.59	7.97	+0.62
Omega ratio: Gain probability vs. loss probability	2.21	2.14	+0.07
Calmar ratio: Return relative to maximum drawdown	15.94	17.31	-1.36
Martin ratio: Return relative to average drawdown	64.95	53.84	+11.11

VDY.TO vs. HXH.TO - Sharpe Ratio Comparison

The current VDY.TO Sharpe Ratio is 5.98, which is comparable to the HXH.TO Sharpe Ratio of 5.30. The chart below compares the historical Sharpe Ratios of VDY.TO and HXH.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

VDY.TO vs. HXH.TO - Drawdown Comparison

The maximum VDY.TO drawdown since its inception was -39.21%, roughly equal to the maximum HXH.TO drawdown of -40.80%. Use the drawdown chart below to compare losses from any high point for VDY.TO and HXH.TO.

Drawdown Indicators

	VDY.TO	HXH.TO	Difference
Max Drawdown Largest peak-to-trough decline	-39.21%	-40.80%	+1.59%
Max Drawdown (1Y) Largest decline over 1 year	-3.12%	-2.52%	-0.60%
Max Drawdown (3Y) Largest decline over 3 years	-10.38%	-10.55%	+0.17%
Max Drawdown (5Y) Largest decline over 5 years	-16.17%	-15.48%	-0.69%
Max Drawdown (10Y) Largest decline over 10 years	-39.21%	-40.80%	+1.59%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.47%	-4.85%	+0.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.76%	0.81%	-0.05%

Volatility

VDY.TO vs. HXH.TO - Volatility Comparison

Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO) has a higher volatility of 3.27% compared to Global X Canadian High Dividend Index Corporate Class ETF (HXH.TO) at 2.78%. This indicates that VDY.TO's price experiences larger fluctuations and is considered to be riskier than HXH.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VDY.TO	HXH.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.27%	2.78%	+0.49%
Volatility (6M) Calculated over the trailing 6-month period	6.96%	6.77%	+0.19%
Volatility (1Y) Calculated over the trailing 1-year period	8.32%	8.25%	+0.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.58%	12.20%	-0.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.95%	16.06%	-0.11%

VDY.TO vs. HXH.TO - Expense Ratio Comparison

VDY.TO has a 0.22% expense ratio, which is higher than HXH.TO's 0.11% 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

VDY.TO vs. HXH.TO - Dividend Comparison

VDY.TO's dividend yield for the trailing twelve months is around 2.83%, while HXH.TO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HXH.TO Global X Canadian High Dividend 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%
VDY.TO Vanguard FTSE Canadian High Dividend Yield Index ETF	2.83%	3.59%	4.37%	4.64%	4.42%	3.46%	4.59%	4.25%	4.44%	3.42%	3.25%	4.11%

Frequently Asked Questions

Can I hold both VDY.TO and HXH.TO in my portfolio?

VDY.TO and HXH.TO have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VDY.TO or HXH.TO?

On fees, HXH.TO is cheaper at 0.11% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VDY.TO or HXH.TO?

HXH.TO is cheaper with a 0.11% expense ratio, compared with 0.22% for VDY.TO.

What is the main difference between VDY.TO and HXH.TO?

VDY.TO is categorized as Dividend, while HXH.TO is Canada Equities. VDY.TO tracks FTSE Canada High Dividend Yield Index, while HXH.TO tracks Solactive Canadian High Dividend Yield Index. They also come from different issuers: Vanguard and Global X. Their fees differ too: 0.22% for VDY.TO and 0.11% for HXH.TO.