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XCG.TO vs. HCA.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XCG.TO vs. HCA.TO

Last updated Jun 5, 2026

XCG.TO (iShares Canadian Growth Index ETF) and HCA.TO (Hamilton Canadian Bank Mean Reversion Index ETF) are both Canada Equities funds - XCG.TO tracks the Morningstar Canada GR CAD while HCA.TO tracks the Solactive Canadian Bank Mean Reversion Index. Both are passively managed. Over the past 5 years, XCG.TO returned 8.36%/yr vs 28.89%/yr for HCA.TO. At a 0.48 correlation, their price movements are largely independent. XCG.TO charges 0.55%/yr vs 0.45%/yr for HCA.TO.

Performance

XCG.TO vs. HCA.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Canadian Growth Index ETF (XCG.TO) and Hamilton Canadian Bank Mean Reversion Index ETF (HCA.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XCG.TO achieves a 2.86% return, which is significantly lower than HCA.TO's 23.36% return.

XCG.TO

1D
0.92%
1M
3.98%
YTD
2.86%
6M
-4.93%
1Y
5.89%
3Y*
13.77%
5Y*
8.36%
10Y*
9.54%

HCA.TO

1D
1.32%
1M
8.67%
YTD
23.36%
6M
26.59%
1Y
66.74%
3Y*
45.48%
5Y*
28.89%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XCG.TO vs. HCA.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
XCG.TO
iShares Canadian Growth Index ETF		2.86%9.37%21.40%17.43%-11.67%15.98%9.08%
HCA.TO
Hamilton Canadian Bank Mean Reversion Index ETF		23.36%51.09%33.32%26.95%-4.34%48.13%23.46%

Correlation

The correlation between XCG.TO and HCA.TO is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.50

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

0.53

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

0.52

Correlation (All Time)
Calculated using the full available price history since Jun 30, 2020

0.48

The correlation between XCG.TO and HCA.TO has been stable across timeframes, ranging from 0.48 to 0.53 - a consistent structural relationship.

XCG.TO vs. HCA.TO - Sectors Allocation Comparison

Sectors
XCG.TO
HCA.TO

Basic Materials

27.2%

-

Industrials

22.4%

-

Technology

17.0%

-

Financial Services

10.0%
100.0%

Energy

9.7%

-

Consumer Cyclical

7.2%

-

Consumer Defensive

4.6%

-

Communication Services

1.5%

-

Real Estate

0.4%

-

Healthcare

-

-

Utilities

-

-

Basic Materials

XCG.TO
27.2%
HCA.TO

-

Industrials

XCG.TO
22.4%
HCA.TO

-

Technology

XCG.TO
17.0%
HCA.TO

-

Financial Services

XCG.TO
10.0%
HCA.TO
100.0%

Energy

XCG.TO
9.7%
HCA.TO

-

Consumer Cyclical

XCG.TO
7.2%
HCA.TO

-

Consumer Defensive

XCG.TO
4.6%
HCA.TO

-

Communication Services

XCG.TO
1.5%
HCA.TO

-

Real Estate

XCG.TO
0.4%
HCA.TO

-

Healthcare

XCG.TO

-

HCA.TO

-

Utilities

XCG.TO

-

HCA.TO

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Canadian Growth Index ETF

Hamilton Canadian Bank Mean Reversion Index ETF

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Often compared with HCA.TO:
HCA.TO vs. HCAL.TOHCA.TO vs. HEB.TOHCA.TO vs. VCE.TOHCA.TO vs. PMIF.TOHCA.TO vs. XIC.TOHCA.TO vs. LMAX.TOHCA.TO vs. FCCM.NEO

Return for Risk

XCG.TO vs. HCA.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XCG.TO
XCG.TO Risk / Return Rank: 1414
Overall Rank
XCG.TO Sharpe Ratio Rank: 1414
Sharpe Ratio Rank
XCG.TO Sortino Ratio Rank: 1313
Sortino Ratio Rank
XCG.TO Omega Ratio Rank: 1414
Omega Ratio Rank
XCG.TO Calmar Ratio Rank: 1414
Calmar Ratio Rank
XCG.TO Martin Ratio Rank: 1515
Martin Ratio Rank
HCA.TO
HCA.TO Risk / Return Rank: 9797
Overall Rank
HCA.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
HCA.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
HCA.TO Omega Ratio Rank: 9898
Omega Ratio Rank
HCA.TO Calmar Ratio Rank: 9595
Calmar Ratio Rank
HCA.TO Martin Ratio Rank: 9696
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.

XCG.TO vs. HCA.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Canadian Growth Index ETF (XCG.TO) and Hamilton Canadian Bank Mean Reversion Index ETF (HCA.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.

XCG.TOHCA.TODifference
Sharpe ratioReturn per unit of total volatility
0.30
5.16

-4.87

Sortino ratioReturn per unit of downside risk
0.52
7.53

-7.02

Omega ratioGain probability vs. loss probability

1.07

2.03

-0.96

Calmar ratioReturn relative to maximum drawdown

0.39

7.87

-7.48

Martin ratioReturn relative to average drawdown

1.12

35.72

-34.60

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XCG.TO vs. HCA.TO - Sharpe Ratio Comparison

The current XCG.TO Sharpe Ratio is 0.30, which is lower than the HCA.TO Sharpe Ratio of 5.16. The chart below compares the historical Sharpe Ratios of XCG.TO and HCA.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.

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Sharpe Ratios by Period

XCG.TOHCA.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.30

5.16

-4.87

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.53

1.92

-1.39

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.58

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.37

2.22

-1.85

Drawdowns

XCG.TO vs. HCA.TO - Drawdown Comparison

The maximum XCG.TO drawdown since its inception was -52.64%, which is greater than HCA.TO's maximum drawdown of -17.82%. Use the drawdown chart below to compare losses from any high point for XCG.TO and HCA.TO.

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Drawdown Indicators

XCG.TOHCA.TODifference

Max Drawdown

Largest peak-to-trough decline

-52.64%

-17.82%

-34.82%

Max Drawdown (1Y)

Largest decline over 1 year

-15.27%

-8.52%

-6.75%

Max Drawdown (3Y)

Largest decline over 3 years

-15.27%

-12.51%

-2.76%

Max Drawdown (5Y)

Largest decline over 5 years

-21.61%

-17.82%

-3.79%

Max Drawdown (10Y)

Largest decline over 10 years

-32.14%

—

—

Current Drawdown

Current decline from peak

-6.45%

0.00%

-6.45%

Average Drawdown

Average peak-to-trough decline

-10.87%

-3.35%

-7.52%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.26%

1.87%

+3.39%

Volatility

XCG.TO vs. HCA.TO - Volatility Comparison

iShares Canadian Growth Index ETF (XCG.TO) has a higher volatility of 5.11% compared to Hamilton Canadian Bank Mean Reversion Index ETF (HCA.TO) at 4.21%. This indicates that XCG.TO's price experiences larger fluctuations and is considered to be riskier than HCA.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XCG.TOHCA.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.11%

4.21%

+0.90%

Volatility (6M)

Calculated over the trailing 6-month period

17.02%

11.28%

+5.74%

Volatility (1Y)

Calculated over the trailing 1-year period

20.07%

12.99%

+7.08%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.88%

15.12%

+0.76%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.48%

15.10%

+1.38%

XCG.TO vs. HCA.TO - Expense Ratio Comparison

XCG.TO has a 0.55% expense ratio, which is higher than HCA.TO's 0.45% expense ratio.

Dividends

XCG.TO vs. HCA.TO - Dividend Comparison

XCG.TO's dividend yield for the trailing twelve months is around 0.49%, less than HCA.TO's 2.83% yield.

PositionTTM20252024202320222021202020192018201720162015
HCA.TO
Hamilton Canadian Bank Mean Reversion Index ETF		2.83%5.59%15.89%20.26%16.23%11.79%3.54%0.00%0.00%0.00%0.00%0.00%
XCG.TO
iShares Canadian Growth Index ETF		0.49%0.45%0.60%1.33%1.59%1.46%1.69%1.53%1.65%1.03%0.97%0.72%

Frequently Asked Questions

XCG.TO and HCA.TO have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, HCA.TO is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

HCA.TO is cheaper with a 0.45% expense ratio, compared with 0.55% for XCG.TO.

XCG.TO tracks Morningstar Canada GR CAD, while HCA.TO tracks Solactive Canadian Bank Mean Reversion Index. They also come from different issuers: iShares and Hamilton. Their fees differ too: 0.55% for XCG.TO and 0.45% for HCA.TO.

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