XEQT.TO vs. HEQT

Last updated Jun 5, 2026

XEQT.TO (iShares Core Equity ETF Portfolio) and HEQT (Simplify Hedged Equity ETF) are both exchange-traded funds - XEQT.TO is a Global Equities fund actively managed by iShares, while HEQT is a Options Trading fund actively managed by Simplify. Both are actively managed. Over the past 3 years, XEQT.TO returned 22.22%/yr vs 14.74%/yr for HEQT. A 0.60 correlation means they provide meaningful diversification when combined. XEQT.TO charges 0.20%/yr vs 0.53%/yr for HEQT.

Performance

XEQT.TO vs. HEQT - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Core Equity ETF Portfolio (XEQT.TO) and Simplify Hedged Equity ETF (HEQT). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XEQT.TO is traded in CAD, while HEQT is traded in USD. To make them comparable, the HEQT values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XEQT.TO achieves a 13.22% return, which is significantly higher than HEQT's 6.29% return.

XEQT.TO

• 1D: 0.83%
• 1M: 6.02%
• YTD: 13.22%
• 6M: 11.68%
• 1Y: 30.42%
• 3Y*: 22.22%
• 5Y*: 13.90%
• 10Y*: —

HEQT

• 1D: 0.00%
• 1M: 3.42%
• YTD: 6.29%
• 6M: 5.04%
• 1Y: 16.65%
• 3Y*: 14.74%
• 5Y*: —
• 10Y*: —

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

XEQT.TO vs. HEQT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XEQT.TO iShares Core Equity ETF Portfolio	13.22%	19.47%	24.36%	17.25%	-11.01%	1.33%
HEQT Simplify Hedged Equity ETF	6.36%	5.03%	28.46%	14.04%	-1.71%	4.12%

Correlation

The correlation between XEQT.TO and HEQT is 0.59, 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	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (All Time) Calculated using the full available price history since Nov 3, 2021	0.60

The correlation between XEQT.TO and HEQT has been stable across timeframes, ranging from 0.59 to 0.63 - a consistent structural relationship.

XEQT.TO vs. HEQT - Sectors Allocation Comparison

Sectors	XEQT.TO	HEQT
Technology	22.9%	36.2%
Financial Services	20.3%	11.9%
Industrials	12.1%	8.1%
Consumer Cyclical	7.8%	10.1%
Basic Materials	7.3%	1.8%
Energy	7.2%	3.5%
Healthcare	6.6%	8.4%
Communication Services	6.4%	10.9%
Consumer Defensive	4.4%	4.9%
Utilities	2.8%	2.3%
Real Estate	2.2%	1.9%

Return for Risk

XEQT.TO vs. HEQT — Risk / Return Rank

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

XEQT.TO

XEQT.TO Risk / Return Rank: 80
XEQT.TO Sharpe Ratio Rank: 82
XEQT.TO Sortino Ratio Rank: 81
XEQT.TO Omega Ratio Rank: 82
XEQT.TO Calmar Ratio Rank: 75
XEQT.TO Martin Ratio Rank: 82

HEQT

HEQT Risk / Return Rank: 72
HEQT Sharpe Ratio Rank: 72
HEQT Sortino Ratio Rank: 75
HEQT Omega Ratio Rank: 82
HEQT Calmar Ratio Rank: 60
HEQT Martin Ratio Rank: 72

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.

XEQT.TO vs. HEQT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core Equity ETF Portfolio (XEQT.TO) and Simplify Hedged Equity ETF (HEQT). 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.

	XEQT.TO	HEQT	Difference
Sharpe ratio: Return per unit of total volatility	2.62	2.37	+0.25
Sortino ratio: Return per unit of downside risk	3.61	3.32	+0.29
Omega ratio: Gain probability vs. loss probability	1.48	1.47	+0.02
Calmar ratio: Return relative to maximum drawdown	3.70	3.49	+0.21
Martin ratio: Return relative to average drawdown	16.13	12.15	+3.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XEQT.TO vs. HEQT - Sharpe Ratio Comparison

The current XEQT.TO Sharpe Ratio is 2.62, which is comparable to the HEQT Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of XEQT.TO and HEQT, 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

	XEQT.TO	HEQT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.62	2.37	+0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.07	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.96	1.48	-0.52

Drawdowns

XEQT.TO vs. HEQT - Drawdown Comparison

The maximum XEQT.TO drawdown since its inception was -29.74%, which is greater than HEQT's maximum drawdown of -11.75%. Use the drawdown chart below to compare losses from any high point for XEQT.TO and HEQT.

Drawdown Indicators

	XEQT.TO	HEQT	Difference
Max Drawdown Largest peak-to-trough decline	-29.74%	-11.75%	-17.99%
Max Drawdown (1Y) Largest decline over 1 year	-8.25%	-4.79%	-3.46%
Max Drawdown (3Y) Largest decline over 3 years	-15.08%	-11.75%	-3.33%
Max Drawdown (5Y) Largest decline over 5 years	-19.56%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.11%	-2.46%	-1.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.89%	1.37%	+0.52%

Volatility

XEQT.TO vs. HEQT - Volatility Comparison

iShares Core Equity ETF Portfolio (XEQT.TO) has a higher volatility of 3.70% compared to Simplify Hedged Equity ETF (HEQT) at 1.06%. This indicates that XEQT.TO's price experiences larger fluctuations and is considered to be riskier than HEQT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XEQT.TO	HEQT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.70%	1.06%	+2.64%
Volatility (6M) Calculated over the trailing 6-month period	9.41%	5.59%	+3.82%
Volatility (1Y) Calculated over the trailing 1-year period	11.65%	7.05%	+4.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.13%	8.08%	+5.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.56%	8.08%	+7.48%

XEQT.TO vs. HEQT - Expense Ratio Comparison

XEQT.TO has a 0.20% expense ratio, which is lower than HEQT's 0.53% expense ratio.

Dividends

XEQT.TO vs. HEQT - Dividend Comparison

XEQT.TO's dividend yield for the trailing twelve months is around 1.47%, more than HEQT's 1.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
HEQT Simplify Hedged Equity ETF	1.19%	1.19%	1.29%	4.10%	3.94%	0.27%	0.00%	0.00%
XEQT.TO iShares Core Equity ETF Portfolio	1.47%	1.66%	2.01%	2.07%	2.12%	1.64%	1.66%	1.19%

Frequently Asked Questions

Can I hold both XEQT.TO and HEQT in my portfolio?

XEQT.TO and HEQT have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XEQT.TO or HEQT?

On fees, XEQT.TO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XEQT.TO or HEQT?

XEQT.TO is cheaper with a 0.20% expense ratio, compared with 0.53% for HEQT.

What is the main difference between XEQT.TO and HEQT?

XEQT.TO is categorized as Global Equities, while HEQT is Options Trading. They also come from different issuers: iShares and Simplify. Their fees differ too: 0.20% for XEQT.TO and 0.53% for HEQT.