XDG.TO vs. HEQT.TO
XDG.TO (iShares Core MSCI Global Quality Dividend Index ETF) and HEQT.TO (Horizons All-Equity Asset Allocation ETF) are both Global Equities funds. XDG.TO is passively managed, while HEQT.TO is actively managed. Over the past 5 years, XDG.TO returned 11.56%/yr vs 16.89%/yr for HEQT.TO. A 0.56 correlation means they provide meaningful diversification when combined. XDG.TO charges 0.22%/yr vs 0.20%/yr for HEQT.TO.
Performance
XDG.TO vs. HEQT.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XDG.TO achieves a 10.15% return, which is significantly lower than HEQT.TO's 14.13% return.
XDG.TO
- 1D
- 1.00%
- 1M
- 3.95%
- YTD
- 10.15%
- 6M
- 9.58%
- 1Y
- 21.38%
- 3Y*
- 16.07%
- 5Y*
- 11.56%
- 10Y*
- —
HEQT.TO
- 1D
- 0.50%
- 1M
- 6.41%
- YTD
- 14.13%
- 6M
- 13.38%
- 1Y
- 32.17%
- 3Y*
- 25.88%
- 5Y*
- 16.89%
- 10Y*
- —
XDG.TO vs. HEQT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
XDG.TO iShares Core MSCI Global Quality Dividend Index ETF | 10.15% | 13.74% | 17.44% | 7.06% | 1.78% | 15.16% | -1.68% | 5.22% |
HEQT.TO Horizons All-Equity Asset Allocation ETF | 14.13% | 19.82% | 25.95% | 31.63% | -12.65% | 23.11% | 16.34% | 7.76% |
Correlation
The correlation between XDG.TO and HEQT.TO is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Sep 19, 2019 | 0.56 |
The correlation between XDG.TO and HEQT.TO has been stable across timeframes, ranging from 0.55 to 0.60 - a consistent structural relationship.
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Return for Risk
XDG.TO vs. HEQT.TO — Risk / Return Rank
XDG.TO
HEQT.TO
XDG.TO vs. HEQT.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Global Quality Dividend Index ETF (XDG.TO) and Horizons All-Equity Asset Allocation ETF (HEQT.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.
| XDG.TO | HEQT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.63 | ||
| Sortino ratioReturn per unit of downside risk | -0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.51 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.73 | 3.81 | -1.08 |
| Martin ratioReturn relative to average drawdown | 9.74 | 16.80 | -7.06 |
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
| XDG.TO | HEQT.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.08 | 2.70 | -0.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.10 | 1.11 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.71 | 1.06 | -0.35 |
Drawdowns
XDG.TO vs. HEQT.TO - Drawdown Comparison
The maximum XDG.TO drawdown since its inception was -27.08%, smaller than the maximum HEQT.TO drawdown of -31.82%. Use the drawdown chart below to compare losses from any high point for XDG.TO and HEQT.TO.
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Drawdown Indicators
| XDG.TO | HEQT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.08% | -31.82% | +4.74% |
Max Drawdown (1Y)Largest decline over 1 year | -7.87% | -8.49% | +0.62% |
Max Drawdown (3Y)Largest decline over 3 years | -12.33% | -15.33% | +3.00% |
Max Drawdown (5Y)Largest decline over 5 years | -12.33% | -24.25% | +11.92% |
Current DrawdownCurrent decline from peak | -0.98% | -0.08% | -0.90% |
Average DrawdownAverage peak-to-trough decline | -2.92% | -4.28% | +1.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.20% | 1.92% | +0.28% |
Volatility
XDG.TO vs. HEQT.TO - Volatility Comparison
The current volatility for iShares Core MSCI Global Quality Dividend Index ETF (XDG.TO) is 3.17%, while Horizons All-Equity Asset Allocation ETF (HEQT.TO) has a volatility of 3.48%. This indicates that XDG.TO experiences smaller price fluctuations and is considered to be less risky than HEQT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XDG.TO | HEQT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.17% | 3.48% | -0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 8.10% | 9.68% | -1.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.35% | 11.96% | -1.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.57% | 15.33% | -4.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.14% | 17.16% | -4.02% |
XDG.TO vs. HEQT.TO - Expense Ratio Comparison
XDG.TO has a 0.22% expense ratio, which is higher than HEQT.TO's 0.20% 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
XDG.TO vs. HEQT.TO - Dividend Comparison
XDG.TO's dividend yield for the trailing twelve months is around 2.79%, more than HEQT.TO's 1.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
HEQT.TO Horizons All-Equity Asset Allocation ETF | 1.61% | 1.70% | 3.22% | 7.85% | 7.31% | 0.48% | 1.40% | 0.22% | 0.00% | 0.00% |
XDG.TO iShares Core MSCI Global Quality Dividend Index ETF | 2.79% | 2.89% | 2.90% | 3.13% | 3.27% | 2.97% | 3.27% | 3.18% | 3.47% | 1.67% |
Frequently Asked Questions
XDG.TO and HEQT.TO have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HEQT.TO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HEQT.TO is cheaper with a 0.20% expense ratio, compared with 0.22% for XDG.TO.
They also come from different issuers: iShares and Horizons. Their fees differ too: 0.22% for XDG.TO and 0.20% for HEQT.TO.
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