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Global X
An enhanced equity fund with modest borrowed exposure (about 1.25x). Fee 0.45% a year.
Funds of this type differ on a small set of facts. Where this fund sits on each:
1.25x leveraged exposure to United States. The fund uses a modest amount of borrowed money to increase its exposure, which amplified both gains and losses and added borrowing costs.
Top holding: NVIDIA Corp 3.3% (broad) · Top sector: Technology 26.9% (broad) · Top region: United States 46.1% (global)
Technology 26.9%·Financials 20.2%·Industrials 10.6%·Consumer Discretionary 8.2%·Healthcare 6.7%·Other 6.7%·Other (locked) 20.7%
United States 46.1%·Canada 20.3%·Europe 16.7%·Emerging Markets 9.4%·Japan 5.6%·Other 1.7%
Look-through via underlying funds.
The management fee was 0.45% a year, or about $45 for every $10,000 held. Daily-reset leverage adds borrowing and derivative costs that are reflected in the fund's returns rather than in this fee. Trading spreads are separate from this fee. This is the management fee as published by the provider; the total expense ratio can be slightly higher once fund operating costs are added.
Mostly capital gains
The full distribution tax character, plus what you keep after tax in a TFSA, RRSP, or non-registered account, is on the Real Yield report card.
See the full tax breakdown →For information only, not tax advice. Tax treatment depends on your account type and personal circumstances; consult a qualified tax professional.
How durable the fund is, and what moved its price.
| Assets | $30M· net assets |
| Listed | 2023· 2 years of history |
| Leverage / overlay | Modest leverage (borrowing) |
What moved the price
| Ticker | HEQL.TO |
| Exchange | TSX |
| Currency | CAD |
| FX strategy | CAD-unhedged |
| Asset class | Equity |
| Structure | Leveraged |
| Theme | Broad Market |
| Geography | Global / World |
| Provider | Global X |
| Mgmt fee | 0.45% |
Compare HEQL.TO→Backtest it→Rate your portfolio→Real Yield report card→
Prices as of last close · tax character year 2025.
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