XCG.TO vs. HEWB.TO
XCG.TO (iShares Canadian Growth Index ETF) and HEWB.TO (Global X Equal Weight Canadian Banks Index Corporate Class ETF) are both Canada Equities funds - XCG.TO tracks the Morningstar Canada GR CAD while HEWB.TO tracks the Solactive Equal Weight Canada Banks Index. Both are passively managed. Over the past 5 years, XCG.TO returned 8.36%/yr vs 18.61%/yr for HEWB.TO. At a 0.49 correlation, their price movements are largely independent. XCG.TO charges 0.55%/yr vs 0.28%/yr for HEWB.TO.
Performance
XCG.TO vs. HEWB.TO - Performance Comparison
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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 HEWB.TO's 21.18% 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%
HEWB.TO
- 1D
- 1.75%
- 1M
- 7.07%
- YTD
- 21.18%
- 6M
- 24.63%
- 1Y
- 63.16%
- 3Y*
- 34.09%
- 5Y*
- 18.61%
- 10Y*
- —
XCG.TO vs. HEWB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
XCG.TO iShares Canadian Growth Index ETF | 2.86% | 9.37% | 21.40% | 17.43% | -11.67% | 15.98% | 11.25% | 11.87% |
HEWB.TO Global X Equal Weight Canadian Banks Index Corporate Class ETF | 21.18% | 43.48% | 24.54% | 11.00% | -10.46% | 39.19% | 4.74% | 3.66% |
Correlation
The correlation between XCG.TO and HEWB.TO is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Mar 5, 2019 | 0.49 |
The correlation between XCG.TO and HEWB.TO has been stable across timeframes, ranging from 0.49 to 0.59 - a consistent structural relationship.
XCG.TO vs. HEWB.TO - Sectors Allocation Comparison
Sectors
XCG.TO
HEWB.TO
Basic Materials
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Industrials
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Technology
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Financial Services
Energy
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Consumer Cyclical
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Consumer Defensive
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Communication Services
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Real Estate
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Healthcare
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Utilities
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Basic Materials
XCG.TO
HEWB.TO
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Industrials
XCG.TO
HEWB.TO
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Technology
XCG.TO
HEWB.TO
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Financial Services
XCG.TO
HEWB.TO
Energy
XCG.TO
HEWB.TO
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Consumer Cyclical
XCG.TO
HEWB.TO
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Consumer Defensive
XCG.TO
HEWB.TO
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Communication Services
XCG.TO
HEWB.TO
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Real Estate
XCG.TO
HEWB.TO
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Healthcare
XCG.TO
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HEWB.TO
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Utilities
XCG.TO
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HEWB.TO
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Return for Risk
XCG.TO vs. HEWB.TO — Risk / Return Rank
XCG.TO
HEWB.TO
XCG.TO vs. HEWB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Canadian Growth Index ETF (XCG.TO) and Global X Equal Weight Canadian Banks Index Corporate Class ETF (HEWB.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.TO | HEWB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.62 | ||
| Sortino ratioReturn per unit of downside risk | -6.09 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.91 | -0.84 |
| Calmar ratioReturn relative to maximum drawdown | 0.39 | 7.08 | -6.69 |
| Martin ratioReturn relative to average drawdown | 1.12 | 32.25 | -31.13 |
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
| XCG.TO | HEWB.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.30 | 4.92 | -4.62 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 1.34 | -0.81 |
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 | 0.92 | -0.55 |
Drawdowns
XCG.TO vs. HEWB.TO - Drawdown Comparison
The maximum XCG.TO drawdown since its inception was -52.64%, which is greater than HEWB.TO's maximum drawdown of -39.43%. Use the drawdown chart below to compare losses from any high point for XCG.TO and HEWB.TO.
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Drawdown Indicators
| XCG.TO | HEWB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.64% | -39.43% | -13.21% |
Max Drawdown (1Y)Largest decline over 1 year | -15.27% | -8.97% | -6.30% |
Max Drawdown (3Y)Largest decline over 3 years | -15.27% | -14.84% | -0.43% |
Max Drawdown (5Y)Largest decline over 5 years | -21.61% | -25.89% | +4.28% |
Max Drawdown (10Y)Largest decline over 10 years | -32.14% | — | — |
Current DrawdownCurrent decline from peak | -6.45% | -0.27% | -6.18% |
Average DrawdownAverage peak-to-trough decline | -10.87% | -7.27% | -3.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.26% | 1.96% | +3.30% |
Volatility
XCG.TO vs. HEWB.TO - Volatility Comparison
iShares Canadian Growth Index ETF (XCG.TO) and Global X Equal Weight Canadian Banks Index Corporate Class ETF (HEWB.TO) have volatilities of 5.11% and 5.10%, 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
| XCG.TO | HEWB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.11% | 5.10% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 17.02% | 11.48% | +5.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.07% | 12.92% | +7.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.88% | 14.00% | +1.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.48% | 19.30% | -2.82% |
XCG.TO vs. HEWB.TO - Expense Ratio Comparison
XCG.TO has a 0.55% expense ratio, which is higher than HEWB.TO's 0.28% expense ratio.
Dividends
XCG.TO vs. HEWB.TO - Dividend Comparison
XCG.TO's dividend yield for the trailing twelve months is around 0.49%, while HEWB.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HEWB.TO Global X Equal Weight Canadian Banks 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% |
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 HEWB.TO have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HEWB.TO is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HEWB.TO is cheaper with a 0.28% expense ratio, compared with 0.55% for XCG.TO.
XCG.TO tracks Morningstar Canada GR CAD, while HEWB.TO tracks Solactive Equal Weight Canada Banks Index. They also come from different issuers: iShares and Global X. Their fees differ too: 0.55% for XCG.TO and 0.28% for HEWB.TO.
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