VOLX.TO vs. HSAV.TO
VOLX.TO (BetaPro S&P 500 VIX Short-Term Futures ETF) and HSAV.TO (Global X Cash Maximizer Corporate Class ETF) are both exchange-traded funds - VOLX.TO is a Volatility fund tracking the S&P 500 VIX Short-Term Futures Index, while HSAV.TO is a Money Market fund actively managed by Global X. VOLX.TO is passively managed, while HSAV.TO is actively managed. Over the past 5 years, VOLX.TO returned -45.79%/yr vs 3.16%/yr for HSAV.TO. At a correlation of -0.03, they often move in opposite directions.
Performance
VOLX.TO vs. HSAV.TO - Performance Comparison
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Returns By Period
In the year-to-date period, VOLX.TO achieves a -18.74% return, which is significantly lower than HSAV.TO's 0.90% return.
VOLX.TO
- 1D
- 2.91%
- 1M
- -10.26%
- 6M
- -16.74%
- YTD
- -18.74%
- 1Y
- -52.76%
- 3Y*
- -39.82%
- 5Y*
- -45.79%
- 10Y*
- -50.16%
HSAV.TO
- 1D
- 0.00%
- 1M
- -0.14%
- 6M
- 0.92%
- YTD
- 0.90%
- 1Y
- 2.14%
- 3Y*
- 3.41%
- 5Y*
- 3.16%
- 10Y*
- —
VOLX.TO vs. HSAV.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
VOLX.TO BetaPro S&P 500 VIX Short-Term Futures ETF | -18.74% | -43.52% | -26.70% | -72.47% | -22.03% | -71.71% | 21.81% |
HSAV.TO Global X Cash Maximizer Corporate Class ETF | 0.90% | 2.58% | 4.24% | 5.04% | 2.79% | 0.66% | 0.71% |
Correlation
The correlation between VOLX.TO and HSAV.TO is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2020 | -0.03 |
The correlation between VOLX.TO and HSAV.TO shifts across timeframes, from -0.17 (1 year) to -0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VOLX.TO vs. HSAV.TO — Risk / Return Rank
VOLX.TO
HSAV.TO
VOLX.TO vs. HSAV.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BetaPro S&P 500 VIX Short-Term Futures ETF (VOLX.TO) and Global X Cash Maximizer Corporate Class ETF (HSAV.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.
| VOLX.TO | HSAV.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.49 | ||
| Sortino ratioReturn per unit of downside risk | -3.81 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.28 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | 3.63 | -4.59 |
| Martin ratioReturn relative to average drawdown | -1.54 | 9.27 | -10.80 |
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Drawdowns
VOLX.TO vs. HSAV.TO - Drawdown Comparison
The maximum VOLX.TO drawdown since its inception was -100.00%, which is greater than HSAV.TO's maximum drawdown of -2.18%. Use the drawdown chart below to compare losses from any high point for VOLX.TO and HSAV.TO.
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Drawdown Indicators
| VOLX.TO | HSAV.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -2.18% | -97.82% |
Max Drawdown (1Y)Largest decline over 1 year | -54.90% | -0.59% | -54.31% |
Max Drawdown (3Y)Largest decline over 3 years | -81.25% | -1.06% | -80.19% |
Max Drawdown (5Y)Largest decline over 5 years | -96.21% | -2.18% | -94.03% |
Max Drawdown (10Y)Largest decline over 10 years | -99.91% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -0.32% | -99.68% |
Average DrawdownAverage peak-to-trough decline | -91.94% | -0.19% | -91.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.37% | 0.23% | +34.14% |
Volatility
VOLX.TO vs. HSAV.TO - Volatility Comparison
BetaPro S&P 500 VIX Short-Term Futures ETF (VOLX.TO) has a higher volatility of 12.66% compared to Global X Cash Maximizer Corporate Class ETF (HSAV.TO) at 0.35%. This indicates that VOLX.TO's price experiences larger fluctuations and is considered to be riskier than HSAV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VOLX.TO | HSAV.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.66% | 0.35% | +12.31% |
Volatility (6M)Calculated over the trailing 6-month period | 43.18% | 0.99% | +42.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.80% | 1.41% | +53.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 66.58% | 1.78% | +64.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.22% | 1.57% | +69.65% |
Dividends
VOLX.TO vs. HSAV.TO - Dividend Comparison
Neither VOLX.TO nor HSAV.TO has paid dividends to shareholders.
Frequently Asked Questions
VOLX.TO and HSAV.TO have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VOLX.TO is categorized as Volatility, while HSAV.TO is Money Market.
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