XDGH.TO vs. HEQT.TO
XDGH.TO (iShares Core MSCI Global Quality Dividend Index ETF (CAD-Hedged)) and HEQT.TO (Horizons All-Equity Asset Allocation ETF) are both Global Equities funds. XDGH.TO is passively managed, while HEQT.TO is actively managed. Over the past 5 years, XDGH.TO returned 8.12%/yr vs 16.77%/yr for HEQT.TO. A 0.54 correlation means they provide meaningful diversification when combined. XDGH.TO charges 0.22%/yr vs 0.20%/yr for HEQT.TO.
Performance
XDGH.TO vs. HEQT.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XDGH.TO achieves a 7.16% return, which is significantly lower than HEQT.TO's 13.56% return.
XDGH.TO
- 1D
- 0.16%
- 1M
- 2.01%
- YTD
- 7.16%
- 6M
- 8.39%
- 1Y
- 17.12%
- 3Y*
- 12.90%
- 5Y*
- 8.12%
- 10Y*
- —
HEQT.TO
- 1D
- -0.58%
- 1M
- 6.87%
- YTD
- 13.56%
- 6M
- 13.18%
- 1Y
- 31.58%
- 3Y*
- 25.58%
- 5Y*
- 16.77%
- 10Y*
- —
XDGH.TO vs. HEQT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
XDGH.TO iShares Core MSCI Global Quality Dividend Index ETF (CAD-Hedged) | 7.16% | 14.60% | 10.46% | 8.74% | -1.32% | 15.60% | -4.34% | 6.87% |
HEQT.TO Horizons All-Equity Asset Allocation ETF | 13.56% | 19.82% | 25.95% | 31.63% | -12.65% | 23.11% | 16.34% | 7.76% |
Correlation
The correlation between XDGH.TO and HEQT.TO is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Sep 19, 2019 | 0.54 |
The correlation between XDGH.TO and HEQT.TO has been stable across timeframes, ranging from 0.46 to 0.55 - a consistent structural relationship.
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Return for Risk
XDGH.TO vs. HEQT.TO — Risk / Return Rank
XDGH.TO
HEQT.TO
XDGH.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 (CAD-Hedged) (XDGH.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.
| XDGH.TO | HEQT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.88 | ||
| Sortino ratioReturn per unit of downside risk | -1.00 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.50 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.69 | 3.74 | -1.04 |
| Martin ratioReturn relative to average drawdown | 8.01 | 16.49 | -8.48 |
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
| XDGH.TO | HEQT.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.78 | 2.65 | -0.88 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.67 | 1.10 | -0.43 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 1.05 | -0.52 |
Drawdowns
XDGH.TO vs. HEQT.TO - Drawdown Comparison
The maximum XDGH.TO drawdown since its inception was -32.99%, roughly equal to the maximum HEQT.TO drawdown of -31.82%. Use the drawdown chart below to compare losses from any high point for XDGH.TO and HEQT.TO.
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Drawdown Indicators
| XDGH.TO | HEQT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.99% | -31.82% | -1.17% |
Max Drawdown (1Y)Largest decline over 1 year | -6.38% | -8.49% | +2.11% |
Max Drawdown (3Y)Largest decline over 3 years | -11.96% | -15.33% | +3.37% |
Max Drawdown (5Y)Largest decline over 5 years | -14.56% | -24.25% | +9.69% |
Current DrawdownCurrent decline from peak | -2.25% | -0.58% | -1.67% |
Average DrawdownAverage peak-to-trough decline | -3.63% | -4.29% | +0.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.14% | 1.92% | +0.22% |
Volatility
XDGH.TO vs. HEQT.TO - Volatility Comparison
The current volatility for iShares Core MSCI Global Quality Dividend Index ETF (CAD-Hedged) (XDGH.TO) is 2.55%, while Horizons All-Equity Asset Allocation ETF (HEQT.TO) has a volatility of 3.53%. This indicates that XDGH.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
| XDGH.TO | HEQT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.55% | 3.53% | -0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 6.84% | 9.67% | -2.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.67% | 11.96% | -2.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.14% | 15.33% | -3.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.60% | 17.16% | -2.56% |
XDGH.TO vs. HEQT.TO - Expense Ratio Comparison
XDGH.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
XDGH.TO vs. HEQT.TO - Dividend Comparison
XDGH.TO's dividend yield for the trailing twelve months is around 2.81%, 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% |
XDGH.TO iShares Core MSCI Global Quality Dividend Index ETF (CAD-Hedged) | 2.81% | 2.81% | 3.04% | 3.41% | 3.18% | 3.05% | 3.24% | 2.82% | 3.29% | 0.81% |
Frequently Asked Questions
XDGH.TO and HEQT.TO have a correlation of 0.46, 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 XDGH.TO.
They also come from different issuers: iShares and Horizons. Their fees differ too: 0.22% for XDGH.TO and 0.20% for HEQT.TO.
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