XEI.TO vs. HCA.TO
XEI.TO (iShares S&P/TSX Composite High Dividend Index ETF) and HCA.TO (Hamilton Canadian Bank Mean Reversion Index ETF) are both Canada Equities funds - XEI.TO tracks the S&P/TSX Composite High Dividend Index while HCA.TO tracks the Solactive Canadian Bank Mean Reversion Index. Both are passively managed. Over the past 5 years, XEI.TO returned 15.75%/yr vs 28.89%/yr for HCA.TO. A 0.65 correlation means they provide meaningful diversification when combined. XEI.TO charges 0.22%/yr vs 0.45%/yr for HCA.TO.
Performance
XEI.TO vs. HCA.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with XEI.TO having a 23.25% return and HCA.TO slightly higher at 23.36%.
XEI.TO
- 1D
- 0.85%
- 1M
- 3.41%
- YTD
- 23.25%
- 6M
- 23.82%
- 1Y
- 45.53%
- 3Y*
- 22.82%
- 5Y*
- 15.75%
- 10Y*
- 12.30%
HCA.TO
- 1D
- 1.32%
- 1M
- 8.67%
- YTD
- 23.36%
- 6M
- 26.59%
- 1Y
- 66.74%
- 3Y*
- 45.48%
- 5Y*
- 28.89%
- 10Y*
- —
XEI.TO vs. HCA.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
XEI.TO iShares S&P/TSX Composite High Dividend Index ETF | 23.25% | 25.96% | 15.42% | 6.69% | 0.41% | 35.88% | 18.38% |
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 XEI.TO and HCA.TO is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2020 | 0.65 |
Over the past year, the correlation between XEI.TO and HCA.TO has dropped to 0.39 - well below their long-term average of 0.65, suggesting their price drivers have been diverging.
XEI.TO vs. HCA.TO - Sectors Allocation Comparison
Sectors
XEI.TO
HCA.TO
Energy
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Financial Services
Utilities
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Communication Services
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Consumer Cyclical
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Real Estate
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Basic Materials
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Technology
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Industrials
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Consumer Defensive
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Healthcare
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Energy
XEI.TO
HCA.TO
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Financial Services
XEI.TO
HCA.TO
Utilities
XEI.TO
HCA.TO
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Communication Services
XEI.TO
HCA.TO
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Consumer Cyclical
XEI.TO
HCA.TO
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Real Estate
XEI.TO
HCA.TO
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Basic Materials
XEI.TO
HCA.TO
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Technology
XEI.TO
HCA.TO
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Industrials
XEI.TO
HCA.TO
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Consumer Defensive
XEI.TO
HCA.TO
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Healthcare
XEI.TO
HCA.TO
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Return for Risk
XEI.TO vs. HCA.TO — Risk / Return Rank
XEI.TO
HCA.TO
XEI.TO vs. HCA.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Composite High Dividend Index ETF (XEI.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.
| XEI.TO | HCA.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.18 | ||
| Sortino ratioReturn per unit of downside risk | +1.94 | ||
| Omega ratioGain probability vs. loss probability | 2.34 | 2.03 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 20.39 | 7.87 | +12.52 |
| Martin ratioReturn relative to average drawdown | 69.23 | 35.72 | +33.51 |
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
| XEI.TO | HCA.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 6.34 | 5.16 | +1.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.41 | 1.92 | -0.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.77 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.67 | 2.22 | -1.55 |
Drawdowns
XEI.TO vs. HCA.TO - Drawdown Comparison
The maximum XEI.TO drawdown since its inception was -45.51%, 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 XEI.TO and HCA.TO.
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Drawdown Indicators
| XEI.TO | HCA.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.51% | -17.82% | -27.69% |
Max Drawdown (1Y)Largest decline over 1 year | -2.24% | -8.52% | +6.28% |
Max Drawdown (3Y)Largest decline over 3 years | -9.92% | -12.51% | +2.59% |
Max Drawdown (5Y)Largest decline over 5 years | -17.32% | -17.82% | +0.50% |
Max Drawdown (10Y)Largest decline over 10 years | -45.51% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -5.05% | -3.35% | -1.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 1.87% | -1.21% |
Volatility
XEI.TO vs. HCA.TO - Volatility Comparison
The current volatility for iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) is 2.89%, while Hamilton Canadian Bank Mean Reversion Index ETF (HCA.TO) has a volatility of 4.21%. This indicates that XEI.TO experiences smaller price fluctuations and is considered to be less risky 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
| XEI.TO | HCA.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.89% | 4.21% | -1.32% |
Volatility (6M)Calculated over the trailing 6-month period | 6.03% | 11.28% | -5.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.24% | 12.99% | -5.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.24% | 15.12% | -3.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.01% | 15.10% | +0.91% |
XEI.TO vs. HCA.TO - Expense Ratio Comparison
XEI.TO has a 0.22% expense ratio, which is lower than HCA.TO's 0.45% expense ratio.
Dividends
XEI.TO vs. HCA.TO - Dividend Comparison
XEI.TO's dividend yield for the trailing twelve months is around 3.53%, more than HCA.TO's 2.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
XEI.TO iShares S&P/TSX Composite High Dividend Index ETF | 3.53% | 4.39% | 5.56% | 5.08% | 4.78% | 3.65% | 5.13% | 4.71% | 5.53% | 4.37% | 4.51% | 5.75% |
Frequently Asked Questions
XEI.TO and HCA.TO have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XEI.TO is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XEI.TO is cheaper with a 0.22% expense ratio, compared with 0.45% for HCA.TO.
XEI.TO tracks S&P/TSX Composite High Dividend Index, while HCA.TO tracks Solactive Canadian Bank Mean Reversion Index. They also come from different issuers: iShares and Hamilton. Their fees differ too: 0.22% for XEI.TO and 0.45% for HCA.TO.
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