XMD.TO vs. HCA.TO
XMD.TO (iShares S&P/TSX Completion Index ETF) and HCA.TO (Hamilton Canadian Bank Mean Reversion Index ETF) are both Canada Equities funds - XMD.TO tracks the Morningstar Canada Sml GR CAD while HCA.TO tracks the Solactive Canadian Bank Mean Reversion Index. Both are passively managed. Over the past 5 years, XMD.TO returned 16.03%/yr vs 28.00%/yr for HCA.TO. A 0.51 correlation means they provide meaningful diversification when combined. XMD.TO charges 0.60%/yr vs 0.45%/yr for HCA.TO.
Performance
XMD.TO vs. HCA.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XMD.TO achieves a 12.81% return, which is significantly lower than HCA.TO's 19.58% return.
XMD.TO
- 1D
- -1.61%
- 1M
- 4.02%
- YTD
- 12.81%
- 6M
- 15.57%
- 1Y
- 46.80%
- 3Y*
- 27.16%
- 5Y*
- 16.03%
- 10Y*
- 11.90%
HCA.TO
- 1D
- 0.00%
- 1M
- 5.81%
- YTD
- 19.58%
- 6M
- 24.76%
- 1Y
- 61.56%
- 3Y*
- 43.51%
- 5Y*
- 28.00%
- 10Y*
- —
XMD.TO vs. HCA.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
XMD.TO iShares S&P/TSX Completion Index ETF | 12.81% | 41.38% | 23.55% | 10.01% | -4.90% | 13.78% | 22.50% |
HCA.TO Hamilton Canadian Bank Mean Reversion Index ETF | 19.58% | 51.09% | 33.32% | 26.95% | -4.34% | 48.13% | 23.46% |
Correlation
The correlation between XMD.TO and HCA.TO is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2020 | 0.51 |
The correlation between XMD.TO and HCA.TO shifts across timeframes, from 0.40 (1 year) to 0.56 (5 years), reflecting how their relationship changes across market environments.
XMD.TO vs. HCA.TO - Sectors Allocation Comparison
Sectors
XMD.TO
HCA.TO
Basic Materials
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Industrials
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Energy
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Financial Services
Real Estate
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Utilities
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Consumer Cyclical
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Technology
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Consumer Defensive
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Communication Services
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Healthcare
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Basic Materials
XMD.TO
HCA.TO
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Industrials
XMD.TO
HCA.TO
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Energy
XMD.TO
HCA.TO
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Financial Services
XMD.TO
HCA.TO
Real Estate
XMD.TO
HCA.TO
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Utilities
XMD.TO
HCA.TO
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Consumer Cyclical
XMD.TO
HCA.TO
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Technology
XMD.TO
HCA.TO
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Consumer Defensive
XMD.TO
HCA.TO
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Communication Services
XMD.TO
HCA.TO
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Healthcare
XMD.TO
HCA.TO
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Return for Risk
XMD.TO vs. HCA.TO — Risk / Return Rank
XMD.TO
HCA.TO
XMD.TO vs. HCA.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Completion Index ETF (XMD.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.
| XMD.TO | HCA.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.36 | ||
| Sortino ratioReturn per unit of downside risk | -4.12 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.97 | -0.52 |
| Calmar ratioReturn relative to maximum drawdown | 3.11 | 7.27 | -4.16 |
| Martin ratioReturn relative to average drawdown | 11.51 | 32.98 | -21.47 |
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
| XMD.TO | HCA.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.47 | 4.82 | -2.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.97 | 1.87 | -0.89 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.71 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.55 | 2.18 | -1.63 |
Drawdowns
XMD.TO vs. HCA.TO - Drawdown Comparison
The maximum XMD.TO drawdown since its inception was -53.42%, 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 XMD.TO and HCA.TO.
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Drawdown Indicators
| XMD.TO | HCA.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.42% | -17.82% | -35.60% |
Max Drawdown (1Y)Largest decline over 1 year | -15.12% | -8.52% | -6.60% |
Max Drawdown (3Y)Largest decline over 3 years | -15.12% | -12.51% | -2.61% |
Max Drawdown (5Y)Largest decline over 5 years | -18.16% | -17.82% | -0.34% |
Max Drawdown (10Y)Largest decline over 10 years | -43.40% | — | — |
Current DrawdownCurrent decline from peak | -4.17% | -1.28% | -2.89% |
Average DrawdownAverage peak-to-trough decline | -8.20% | -3.35% | -4.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.08% | 1.87% | +2.21% |
Volatility
XMD.TO vs. HCA.TO - Volatility Comparison
iShares S&P/TSX Completion Index ETF (XMD.TO) has a higher volatility of 5.74% compared to Hamilton Canadian Bank Mean Reversion Index ETF (HCA.TO) at 4.15%. This indicates that XMD.TO's price experiences larger fluctuations and is considered to be riskier 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
| XMD.TO | HCA.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.74% | 4.15% | +1.59% |
Volatility (6M)Calculated over the trailing 6-month period | 16.26% | 11.14% | +5.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.08% | 12.85% | +6.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.59% | 15.09% | +1.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.93% | 15.09% | +1.84% |
XMD.TO vs. HCA.TO - Expense Ratio Comparison
XMD.TO has a 0.60% expense ratio, which is higher than HCA.TO's 0.45% expense ratio.
Dividends
XMD.TO vs. HCA.TO - Dividend Comparison
XMD.TO's dividend yield for the trailing twelve months is around 0.83%, less than HCA.TO's 2.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HCA.TO Hamilton Canadian Bank Mean Reversion Index ETF | 2.92% | 5.59% | 15.89% | 20.26% | 16.23% | 11.79% | 3.54% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XMD.TO iShares S&P/TSX Completion Index ETF | 0.83% | 0.97% | 1.58% | 1.91% | 2.24% | 1.17% | 1.91% | 2.55% | 2.44% | 1.76% | 1.97% | 2.34% |
Frequently Asked Questions
XMD.TO and HCA.TO have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HCA.TO is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HCA.TO is cheaper with a 0.45% expense ratio, compared with 0.60% for XMD.TO.
XMD.TO tracks Morningstar Canada Sml GR CAD, while HCA.TO tracks Solactive Canadian Bank Mean Reversion Index. They also come from different issuers: iShares and Hamilton. Their fees differ too: 0.60% for XMD.TO and 0.45% for HCA.TO.
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