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XBM.TO vs. HLIT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XBM.TO vs. HLIT

Last updated Jun 24, 2026

XBM.TO (iShares S&P/TSX Global Base Metals Index ETF) is Energy Equities fund tracking the Morningstar Can Natural Resource NR CAD, while HLIT (Harmonic Inc.) is a stock. Over the past 10 years, XBM.TO returned 18.31%/yr vs 19.04%/yr for HLIT. At a 0.27 correlation, their price movements are largely independent.

Performance

XBM.TO vs. HLIT - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P/TSX Global Base Metals Index ETF (XBM.TO) and Harmonic Inc. (HLIT). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

XBM.TO is traded in CAD, while HLIT is traded in USD. To make them comparable, the HLIT values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XBM.TO achieves a 22.09% return, which is significantly lower than HLIT's 53.25% return. Both investments have delivered pretty close results over the past 10 years, with XBM.TO having a 18.31% annualized return and HLIT not far ahead at 19.04%.

XBM.TO

1D
-5.23%
1M
-2.36%
YTD
22.09%
6M
20.03%
1Y
88.34%
3Y*
25.21%
5Y*
17.05%
10Y*
18.31%

HLIT

1D
-2.12%
1M
-0.87%
YTD
53.25%
6M
50.97%
1Y
66.75%
3Y*
-1.75%
5Y*
15.21%
10Y*
19.04%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XBM.TO vs. HLIT - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XBM.TO
iShares S&P/TSX Global Base Metals Index ETF		22.09%50.69%5.96%2.84%3.63%27.94%31.53%9.95%-22.42%32.48%
HLIT
Harmonic Inc.		53.25%-28.66%10.05%-2.83%18.45%59.06%-7.50%58.44%21.83%-21.69%

Correlation

The correlation between XBM.TO and HLIT is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.30

Correlation (3Y)
Calculated over the trailing 3-year period

0.27

Correlation (5Y)
Calculated over the trailing 5-year period

0.28

Correlation (10Y)
Calculated over the trailing 10-year period

0.29

Correlation (All Time)
Calculated using the full available price history since Apr 19, 2011

0.27

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iShares S&P/TSX Global Base Metals Index ETF

Harmonic Inc.

Often compared with XBM.TO:
XBM.TO vs. XMEXBM.TO vs. ZMT.TOXBM.TO vs. XEG.TOXBM.TO vs. XETM.TOXBM.TO vs. GDXXBM.TO vs. XMA.TOXBM.TO vs. VDE
Often compared with HLIT:
HLIT vs. ILITHLIT vs. PLHLIT vs. INSGHLIT vs. PUBMHLIT vs. SSYSHLIT vs. ACMRHLIT vs. VOO

Return for Risk

XBM.TO vs. HLIT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XBM.TO
XBM.TO Risk / Return Rank: 7171
Overall Rank
XBM.TO Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
XBM.TO Sortino Ratio Rank: 6161
Sortino Ratio Rank
XBM.TO Omega Ratio Rank: 6565
Omega Ratio Rank
XBM.TO Calmar Ratio Rank: 7676
Calmar Ratio Rank
XBM.TO Martin Ratio Rank: 7474
Martin Ratio Rank
HLIT
HLIT Risk / Return Rank: 7979
Overall Rank
HLIT Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
HLIT Sortino Ratio Rank: 7575
Sortino Ratio Rank
HLIT Omega Ratio Rank: 7777
Omega Ratio Rank
HLIT Calmar Ratio Rank: 8282
Calmar Ratio Rank
HLIT Martin Ratio Rank: 8282
Martin Ratio Rank
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.

XBM.TO vs. HLIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Global Base Metals Index ETF (XBM.TO) and Harmonic Inc. (HLIT). 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.

XBM.TOHLITDifference
Sharpe ratioReturn per unit of total volatility
2.33
1.41

+0.93

Sortino ratioReturn per unit of downside risk
2.73
2.06

+0.67

Omega ratioGain probability vs. loss probability

1.37

1.28

+0.08

Calmar ratioReturn relative to maximum drawdown

3.72

3.06

+0.65

Martin ratioReturn relative to average drawdown

13.34

7.68

+5.66

XBM.TO vs. HLIT - Sharpe Ratio Comparison

The current XBM.TO Sharpe Ratio is 2.33, which is higher than the HLIT Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of XBM.TO and HLIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

XBM.TO vs. HLIT - Drawdown Comparison

The maximum XBM.TO drawdown since its inception was -67.53%, smaller than the maximum HLIT drawdown of -80.84%. Use the drawdown chart below to compare losses from any high point for XBM.TO and HLIT.

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Drawdown Indicators

XBM.TOHLITDifference

Max Drawdown

Largest peak-to-trough decline

-67.53%

-80.84%

+13.31%

Max Drawdown (1Y)

Largest decline over 1 year

-23.88%

-21.89%

-1.99%

Max Drawdown (3Y)

Largest decline over 3 years

-37.45%

-47.14%

+9.69%

Max Drawdown (5Y)

Largest decline over 5 years

-40.57%

-52.43%

+11.86%

Max Drawdown (10Y)

Largest decline over 10 years

-57.25%

-58.16%

+0.91%

Current Drawdown

Current decline from peak

-14.64%

-14.66%

+0.02%

Average Drawdown

Average peak-to-trough decline

-26.06%

-50.56%

+24.50%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.65%

8.72%

-2.07%

Volatility

XBM.TO vs. HLIT - Volatility Comparison

The current volatility for iShares S&P/TSX Global Base Metals Index ETF (XBM.TO) is 15.96%, while Harmonic Inc. (HLIT) has a volatility of 30.25%. This indicates that XBM.TO experiences smaller price fluctuations and is considered to be less risky than HLIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XBM.TOHLITDifference

Volatility (1M)

Calculated over the trailing 1-month period

15.96%

30.25%

-14.29%

Volatility (6M)

Calculated over the trailing 6-month period

32.60%

39.73%

-7.13%

Volatility (1Y)

Calculated over the trailing 1-year period

38.06%

47.74%

-9.68%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

33.59%

48.89%

-15.30%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

32.80%

50.97%

-18.17%

Dividends

XBM.TO vs. HLIT - Dividend Comparison

XBM.TO's dividend yield for the trailing twelve months is around 0.70%, while HLIT has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
HLIT
Harmonic Inc.		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
XBM.TO
iShares S&P/TSX Global Base Metals Index ETF		0.70%0.86%1.25%2.09%4.78%3.05%1.81%3.73%3.38%1.65%2.41%5.75%

Frequently Asked Questions

XBM.TO and HLIT have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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