XCSR.TO vs. HXCN.TO

Last updated Jun 4, 2026

XCSR.TO (iShares ESG Advanced MSCI Canada Index ETF) and HXCN.TO (Global X S&P/TSX Capped Composite Index Corporate Class ETF) are both Canada Equities funds - XCSR.TO tracks the Morningstar Canada GR CAD while HXCN.TO tracks the S&P/TSX Capped Composite Index. Both are passively managed. Over the past 5 years, XCSR.TO returned 13.38%/yr vs 14.86%/yr for HXCN.TO. Their correlation of 0.83 suggests significant overlap in exposure. XCSR.TO charges 0.17%/yr vs 0.05%/yr for HXCN.TO.

Performance

XCSR.TO vs. HXCN.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares ESG Advanced MSCI Canada Index ETF (XCSR.TO) and Global X S&P/TSX Capped Composite Index Corporate Class ETF (HXCN.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XCSR.TO achieves a 6.62% return, which is significantly lower than HXCN.TO's 10.69% return.

XCSR.TO

• 1D: -1.10%
• 1M: 4.20%
• YTD: 6.62%
• 6M: 7.53%
• 1Y: 30.67%
• 3Y*: 24.50%
• 5Y*: 13.38%
• 10Y*: —

HXCN.TO

• 1D: -0.96%
• 1M: 3.65%
• YTD: 10.69%
• 6M: 12.85%
• 1Y: 34.40%
• 3Y*: 23.53%
• 5Y*: 14.86%
• 10Y*: —

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

XCSR.TO vs. HXCN.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
XCSR.TO iShares ESG Advanced MSCI Canada Index ETF	6.62%	35.35%	23.27%	15.18%	-14.41%	22.30%	4,511.52%
HXCN.TO Global X S&P/TSX Capped Composite Index Corporate Class ETF	10.69%	31.20%	21.60%	11.98%	-6.07%	25.23%	24.50%

Correlation

The correlation between XCSR.TO and HXCN.TO is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since Apr 23, 2020	0.83

The correlation between XCSR.TO and HXCN.TO has been stable across timeframes, ranging from 0.83 to 0.91 - a consistent structural relationship.

XCSR.TO vs. HXCN.TO - Sectors Allocation Comparison

Sectors	XCSR.TO	HXCN.TO
Financial Services	49.4%	32.1%
Basic Materials	17.5%	15.6%
Technology	14.2%	11.2%
Industrials	6.1%	11.1%
Consumer Defensive	5.7%	3.2%
Consumer Cyclical	3.0%	3.8%
Real Estate	1.5%	1.8%
Communication Services	1.2%	2.1%
Utilities	1.1%	3.4%
Healthcare	0.2%	0.1%
Energy	-	15.7%

Return for Risk

XCSR.TO vs. HXCN.TO — Risk / Return Rank

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

XCSR.TO

XCSR.TO Risk / Return Rank: 58
XCSR.TO Sharpe Ratio Rank: 60
XCSR.TO Sortino Ratio Rank: 57
XCSR.TO Omega Ratio Rank: 59
XCSR.TO Calmar Ratio Rank: 56
XCSR.TO Martin Ratio Rank: 61

HXCN.TO

HXCN.TO Risk / Return Rank: 81
HXCN.TO Sharpe Ratio Rank: 83
HXCN.TO Sortino Ratio Rank: 78
HXCN.TO Omega Ratio Rank: 82
HXCN.TO Calmar Ratio Rank: 77
HXCN.TO Martin Ratio Rank: 84

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.

XCSR.TO vs. HXCN.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares ESG Advanced MSCI Canada Index ETF (XCSR.TO) and Global X S&P/TSX Capped Composite Index Corporate Class ETF (HXCN.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.

	XCSR.TO	HXCN.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.04	2.74	-0.70
Sortino ratio: Return per unit of downside risk	2.76	3.53	-0.77
Omega ratio: Gain probability vs. loss probability	1.36	1.49	-0.12
Calmar ratio: Return relative to maximum drawdown	2.77	3.92	-1.15
Martin ratio: Return relative to average drawdown	11.03	17.26	-6.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XCSR.TO vs. HXCN.TO - Sharpe Ratio Comparison

The current XCSR.TO Sharpe Ratio is 2.04, which is comparable to the HXCN.TO Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of XCSR.TO and HXCN.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.

Sharpe Ratios by Period

	XCSR.TO	HXCN.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.04	2.74	-0.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.97	1.09	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	0.82	-0.74

Drawdowns

XCSR.TO vs. HXCN.TO - Drawdown Comparison

The maximum XCSR.TO drawdown since its inception was -23.56%, smaller than the maximum HXCN.TO drawdown of -37.09%. Use the drawdown chart below to compare losses from any high point for XCSR.TO and HXCN.TO.

Drawdown Indicators

	XCSR.TO	HXCN.TO	Difference
Max Drawdown Largest peak-to-trough decline	-23.56%	-37.09%	+13.53%
Max Drawdown (1Y) Largest decline over 1 year	-11.12%	-8.81%	-2.31%
Max Drawdown (3Y) Largest decline over 3 years	-12.14%	-12.49%	+0.35%
Max Drawdown (5Y) Largest decline over 5 years	-23.56%	-16.27%	-7.29%
Current Drawdown Current decline from peak	-1.10%	-0.96%	-0.14%
Average Drawdown Average peak-to-trough decline	-5.12%	-4.11%	-1.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.79%	2.00%	+0.79%

Volatility

XCSR.TO vs. HXCN.TO - Volatility Comparison

iShares ESG Advanced MSCI Canada Index ETF (XCSR.TO) has a higher volatility of 4.10% compared to Global X S&P/TSX Capped Composite Index Corporate Class ETF (HXCN.TO) at 3.48%. This indicates that XCSR.TO's price experiences larger fluctuations and is considered to be riskier than HXCN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XCSR.TO	HXCN.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.10%	3.48%	+0.62%
Volatility (6M) Calculated over the trailing 6-month period	12.45%	10.04%	+2.41%
Volatility (1Y) Calculated over the trailing 1-year period	15.07%	12.60%	+2.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.94%	13.72%	+0.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1,368.32%	17.81%	+1,350.51%

XCSR.TO vs. HXCN.TO - Expense Ratio Comparison

XCSR.TO has a 0.17% expense ratio, which is higher than HXCN.TO's 0.05% 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

XCSR.TO vs. HXCN.TO - Dividend Comparison

XCSR.TO's dividend yield for the trailing twelve months is around 1.65%, while HXCN.TO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
HXCN.TO Global X S&P/TSX Capped Composite Index Corporate Class ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XCSR.TO iShares ESG Advanced MSCI Canada Index ETF	1.65%	1.73%	2.20%	2.61%	2.78%	1.53%	0.81%

Frequently Asked Questions

Can I hold both XCSR.TO and HXCN.TO in my portfolio?

With a correlation of 0.91, XCSR.TO and HXCN.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, XCSR.TO or HXCN.TO?

On fees, HXCN.TO is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XCSR.TO or HXCN.TO?

HXCN.TO is cheaper with a 0.05% expense ratio, compared with 0.17% for XCSR.TO.

What is the main difference between XCSR.TO and HXCN.TO?

XCSR.TO tracks Morningstar Canada GR CAD, while HXCN.TO tracks S&P/TSX Capped Composite Index. They also come from different issuers: iShares and Global X. Their fees differ too: 0.17% for XCSR.TO and 0.05% for HXCN.TO.