XIC.TO vs. HXCN.TO
XIC.TO (iShares Core S&P/TSX Capped Composite Index ETF) and HXCN.TO (Global X S&P/TSX Capped Composite Index Corporate Class ETF) are both Canada Equities funds tracking the S&P/TSX Capped Composite Index, from iShares and Global X respectively. Both are passively managed. Over the past 5 years, XIC.TO returned 14.60%/yr vs 14.86%/yr for HXCN.TO. Their correlation of 0.92 suggests significant overlap in exposure. XIC.TO charges 0.06%/yr vs 0.05%/yr for HXCN.TO.
Performance
XIC.TO vs. HXCN.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with XIC.TO having a 10.75% return and HXCN.TO slightly lower at 10.69%.
XIC.TO
- 1D
- -1.05%
- 1M
- 3.59%
- YTD
- 10.75%
- 6M
- 12.90%
- 1Y
- 34.79%
- 3Y*
- 23.62%
- 5Y*
- 14.60%
- 10Y*
- 12.48%
HXCN.TO
- 1D
- -0.96%
- 1M
- 3.65%
- YTD
- 10.69%
- 6M
- 12.85%
- 1Y
- 34.40%
- 3Y*
- 23.53%
- 5Y*
- 14.86%
- 10Y*
- —
XIC.TO vs. HXCN.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
XIC.TO iShares Core S&P/TSX Capped Composite Index ETF | 10.75% | 31.51% | 21.48% | 11.73% | -5.82% | 23.42% | 1.32% |
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% | 1.15% |
Correlation
The correlation between XIC.TO and HXCN.TO is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2020 | 0.92 |
The correlation between XIC.TO and HXCN.TO has been stable across timeframes, ranging from 0.92 to 0.97 - a consistent structural relationship.
XIC.TO vs. HXCN.TO - Sectors Allocation Comparison
Sectors
XIC.TO
HXCN.TO
Financial Services
Energy
Basic Materials
Industrials
Technology
Consumer Cyclical
Utilities
Consumer Defensive
Communication Services
Real Estate
Healthcare
Financial Services
XIC.TO
HXCN.TO
Energy
XIC.TO
HXCN.TO
Basic Materials
XIC.TO
HXCN.TO
Industrials
XIC.TO
HXCN.TO
Technology
XIC.TO
HXCN.TO
Consumer Cyclical
XIC.TO
HXCN.TO
Utilities
XIC.TO
HXCN.TO
Consumer Defensive
XIC.TO
HXCN.TO
Communication Services
XIC.TO
HXCN.TO
Real Estate
XIC.TO
HXCN.TO
Healthcare
XIC.TO
HXCN.TO
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Return for Risk
XIC.TO vs. HXCN.TO — Risk / Return Rank
XIC.TO
HXCN.TO
XIC.TO vs. HXCN.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P/TSX Capped Composite Index ETF (XIC.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.
| XIC.TO | HXCN.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.49 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.76 | 3.92 | -0.16 |
| Martin ratioReturn relative to average drawdown | 17.44 | 17.26 | +0.18 |
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
| XIC.TO | HXCN.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.76 | 2.74 | +0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.12 | 1.09 | +0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.84 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.82 | -0.28 |
Drawdowns
XIC.TO vs. HXCN.TO - Drawdown Comparison
The maximum XIC.TO drawdown since its inception was -48.21%, which is greater than HXCN.TO's maximum drawdown of -37.09%. Use the drawdown chart below to compare losses from any high point for XIC.TO and HXCN.TO.
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Drawdown Indicators
| XIC.TO | HXCN.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.21% | -37.09% | -11.12% |
Max Drawdown (1Y)Largest decline over 1 year | -9.29% | -8.81% | -0.48% |
Max Drawdown (3Y)Largest decline over 3 years | -12.27% | -12.49% | +0.22% |
Max Drawdown (5Y)Largest decline over 5 years | -16.24% | -16.27% | +0.03% |
Max Drawdown (10Y)Largest decline over 10 years | -37.21% | — | — |
Current DrawdownCurrent decline from peak | -1.05% | -0.96% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -7.04% | -4.11% | -2.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.00% | 2.00% | 0.00% |
Volatility
XIC.TO vs. HXCN.TO - Volatility Comparison
iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO) and Global X S&P/TSX Capped Composite Index Corporate Class ETF (HXCN.TO) have volatilities of 3.48% and 3.48%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XIC.TO | HXCN.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.48% | 3.48% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 10.33% | 10.04% | +0.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.67% | 12.60% | +0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.13% | 13.72% | -0.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.96% | 17.81% | -2.85% |
XIC.TO vs. HXCN.TO - Expense Ratio Comparison
XIC.TO has a 0.06% 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
XIC.TO vs. HXCN.TO - Dividend Comparison
XIC.TO's dividend yield for the trailing twelve months is around 2.02%, while HXCN.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XIC.TO iShares Core S&P/TSX Capped Composite Index ETF | 2.02% | 2.23% | 2.64% | 2.95% | 3.10% | 2.44% | 3.03% | 3.01% | 3.19% | 2.49% | 2.72% | 3.21% |
Frequently Asked Questions
With a correlation of 0.97, XIC.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.
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.
HXCN.TO is cheaper with a 0.05% expense ratio, compared with 0.06% for XIC.TO.
Both ETFs track S&P/TSX Capped Composite Index. They also come from different issuers: iShares and Global X. Their fees differ too: 0.06% for XIC.TO and 0.05% for HXCN.TO.
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