BANK.TO Alternatives & Similar ETFs

Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.TO) belongs to the Derivative Income category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with BANK.TO. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to BANK.TO

BANK.TO charges 0.60% annually. There are 37 ETFs in the Derivative Income category with lower expense ratios, going as low as 0.21%.

Symbol	Name	Expense Ratio	AUM	Inception
QQCI.TO	Invesco NASDAQ 100 Income Advantage ETF	0.21%	63.79M	Aug 2024	BANK.TO vs QQCI.TO
EQLI.TO	Invesco S&P 500 Equal Weight Income Advantage ETF	0.29%	169.56M	Nov 2025	BANK.TO vs EQLI.TO
ECHI.TO	Ninepoint Enhanced Canadian HighShares ETF	0.29%	—	Aug 2025	BANK.TO vs ECHI.TO
JEPI.TO	JPMorgan US Equity Premium Income Active ETF	0.35%	—	Sep 2024	BANK.TO vs JEPI.TO
HBIL.TO	Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedg...	0.35%	214.20M	Sep 2024	BANK.TO vs HBIL.TO

Best Risk-Adjusted Alternatives to BANK.TO

BANK.TO has a PortfoliosLab risk / return rank of 98. There is 1 ETF in the Derivative Income category with a higher risk-adjusted rank, going as high as 98.

Symbol	Name	Risk / Return Rank	AUM	Inception
HLIF.TO	Harvest Canadian Equity Income Leaders ETF Class A	98	195.83M	Jun 2022	BANK.TO vs HLIF.TO
CBNK.TO	Mulvihill Canadian Bank Enhanced Yield ETF	98	—	Feb 2022	BANK.TO vs CBNK.TO
ZWB.TO	BMO Covered Call Canadian Banks ETF	97	4.77B	Jan 2011	BANK.TO vs ZWB.TO
BKCC.TO	Global X Equal Weight Canadian Bank Covered Call E...	97	405.23M	May 2011	BANK.TO vs BKCC.TO
BKCL.TO	Global X Enhanced Equal Weight Canadian Banks Cove...	97	201.63M	Jul 2023	BANK.TO vs BKCL.TO

Top Performing BANK.TO Alternatives (YTD)

BANK.TO is at 33.28% YTD. There are 5 ETFs in the Derivative Income category with higher YTD returns, going as high as 44.23%.

Symbol	Name	YTD Return	AUM	Inception
CBNK.TO	Mulvihill Canadian Bank Enhanced Yield ETF	44.23%	—	Feb 2022	BANK.TO vs CBNK.TO
CNQE.TO	Harvest CNQ Enhanced High Income Shares ETF	41.00%	—	Aug 2025	BANK.TO vs CNQE.TO
ENCL.TO	Global X Enhanced Canadian Oil and Gas Equity Cove...	39.90%	295.63M	Oct 2023	BANK.TO vs ENCL.TO
HPF.TO	Harvest Energy Leaders Income ETF – Class A Units	37.52%	69.39M	Oct 2014	BANK.TO vs HPF.TO
NXF.TO	CI Energy Giants Covered Call ETF Common Units (CA...	34.00%	140.96M	Feb 2015	BANK.TO vs NXF.TO

Lowest Volatility Alternatives to BANK.TO

BANK.TO has 13.55% 1-year volatility. There are 49 ETFs in the Derivative Income category with lower 1-year volatility, going as low as 1.80%.

Symbol	Name	Volatility 1Y	AUM	Inception
HBIL.TO	Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedg...	1.80%	214.20M	Sep 2024	BANK.TO vs HBIL.TO
HBIL-U.TO	Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhed...	1.97%	152.80M	Sep 2024	BANK.TO vs HBIL-U.TO
PYF.TO	Purpose Premium Yield Fund Series ETF	3.28%	682.20M	Nov 2018	BANK.TO vs PYF.TO
HPYM.TO	Harvest Premium Yield 7-10 Year Treasury ETF - Cla...	4.70%	249.28M	Jan 2024	BANK.TO vs HPYM.TO
PINC.TO	Purpose Multi-Asset Income Fund	6.37%	108.20M	Apr 2018	BANK.TO vs PINC.TO

Lowest Drawdown Alternatives to BANK.TO

BANK.TO has a 1-year max drawdown of -8.27%. There are 40 ETFs in the Derivative Income category with shallower 1-year drawdowns, going as shallow as -0.95%.

Symbol	Name	Max Drawdown 1Y	AUM	Inception
HBIL.TO	Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedg...	-0.95%	214.20M	Sep 2024	BANK.TO vs HBIL.TO
HBIL-U.TO	Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhed...	-1.32%	152.80M	Sep 2024	BANK.TO vs HBIL-U.TO
PYF.TO	Purpose Premium Yield Fund Series ETF	-2.11%	682.20M	Nov 2018	BANK.TO vs PYF.TO
HLIF.TO	Harvest Canadian Equity Income Leaders ETF Class A	-3.09%	195.83M	Jun 2022	BANK.TO vs HLIF.TO
PINC.TO	Purpose Multi-Asset Income Fund	-3.59%	108.20M	Apr 2018	BANK.TO vs PINC.TO

Other ETFs from Evolve

The 10 most viewed Evolve ETFs shown here include UTES.TO, QQQT.TO, QQQY.TO and span 10 categories. AUM among these funds goes as high as $445M.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
UTES.TO	Evolve Canadian Utilities Enhanced Yield Index Fun...	Utilities Equities, Derivative Income, Leveraged Equities	67	10.38%	445.34M	Sep 2024	BANK.TO vs UTES.TO
QQQT.TO	Evolve NASDAQ Technology Index Fund CAD Hedged	Nasdaq-100, Technology Equities	57	20.16%	167.02M	Jul 2023	BANK.TO vs QQQT.TO
QQQY.TO	Evolve NASDAQ Technology Enhanced Yield Index Fund	Nasdaq-100, Derivative Income	49	11.90%	128.60M	Oct 2025	BANK.TO vs QQQY.TO
CANY.TO	Evolve Canadian Equity UltraYield ETF	Derivative Income, Canada Equities	—	12.77%	—	Sep 2025	BANK.TO vs CANY.TO
BIGY.TO	Evolve US Equity UltraYield ETF	Derivative Income	—	-16.67%	—	Sep 2025	BANK.TO vs BIGY.TO
EBNK.TO	Evolve European Banks Enhanced Yield ETF Hedged CA...	Financials Equities, Derivative Income	72	16.96%	160.28M	Jan 2022	BANK.TO vs EBNK.TO
SIXY.TO	Evolve Big Six Canadian Banks UltraYield Index ETF	Financials Equities	—	30.61%	—	Dec 2025	BANK.TO vs SIXY.TO
CYBR.TO	Evolve Cyber Security Index Fund - Hedged Units	Cybersecurity, Technology Equities, Global Equities	27	31.37%	203.08M	Sep 2017	BANK.TO vs CYBR.TO
OILY.TO	Evolve Canadian Energy Enhanced Yield Index Fund E...	Energy Equities	84	36.54%	—	Mar 2025	BANK.TO vs OILY.TO
EDGE.TO	Evolve Innovation Index Fund	Technology Equities, Global Equities	28	14.27%	37.43M	Apr 2018	BANK.TO vs EDGE.TO

Often Compared With BANK.TO

Investors most often compare BANK.TO with HMAX.TO, HCAL.TO, VDY.TO. These 20 comparison targets span 13 categories, based on PortfoliosLab usage data.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
HMAX.TO	Hamilton Canadian Financials Yield Maximizer ETF	Derivative Income	97	19.57%	2.58B	Jan 2023	BANK.TO vs HMAX.TO
HCAL.TO	Hamilton Enhanced Canadian Bank ETF	Financials Equities, Canada Equities, Leveraged Equities	98	41.03%	1.09B	Oct 2020	BANK.TO vs HCAL.TO
VDY.TO	Vanguard FTSE Canadian High Dividend Yield Index E...	Dividend	99	28.99%	8.59B	Nov 2012	BANK.TO vs VDY.TO
RBNK.TO	RBC Canadian Bank Yield Index ETF	Financials Equities	98	33.54%	518.88M	Oct 2017	BANK.TO vs RBNK.TO
HYLD.TO	Hamilton Enhanced U.S. Covered Call ETF	Derivative Income	68	11.33%	1.30B	Feb 2022	BANK.TO vs HYLD.TO
VCN.TO	Vanguard FTSE Canada All Cap Index ETF	Canada Equities	90	12.26%	16.37B	Aug 2013	BANK.TO vs VCN.TO
VEQT.TO	Vanguard All-Equity ETF Portfolio	Global Equities	86	13.16%	15.67B	Jan 2019	BANK.TO vs VEQT.TO
QMAX.TO	Hamilton Technology YIELD MAXIMIZER ETF	Technology Equities, Derivative Income	31	11.50%	936.10M	Oct 2023	BANK.TO vs QMAX.TO
QDAY.NEO	Hamilton EnhancedTechnology DayMAX™ ETF	Derivative Income	51	22.56%	—	Jul 2025	BANK.TO vs QDAY.NEO
VDU.TO	Vanguard FTSE Developed All Cap ex U.S. Index ETF	Foreign Large Cap Equities, Global Equities	79	16.08%	842.01M	Aug 2013	BANK.TO vs VDU.TO
HDIV.TO	Hamilton Enhanced Canadian Covered Call ETF	Derivative Income	95	18.30%	1.79B	Jul 2021	BANK.TO vs HDIV.TO
HHIS.TO	Harvest Diversified High Income Shares ETF	Derivative Income	16	1.29%	1.82B	Jan 2025	BANK.TO vs HHIS.TO
XEF.TO	iShares Core MSCI EAFE IMI Index ETF	Foreign Large Cap Equities	74	13.69%	23.06B	Apr 2013	BANK.TO vs XEF.TO
CDAY.NEO	Hamilton Enhanced Canadian Equity DayMAX ETF	Derivative Income, Canada Equities	92	17.13%	242.10M	Jul 2025	BANK.TO vs CDAY.NEO
BK.TO	Canadian Banc Corp.		99	52.05%	—	—	BANK.TO vs BK.TO
KILO.TO	Purpose Gold Bullion Fund	Gold, Precious Metals	27	-7.39%	1.00B	Oct 2018	BANK.TO vs KILO.TO
ZEB.TO	BMO Equal Weight Banks Index ETF	Financials Equities, Equal Weight	98	32.90%	7.10B	Oct 2009	BANK.TO vs ZEB.TO
HEQT.TO	Global X All-Equity Asset Allocation ETF	Global Equities	85	14.01%	—	Sep 2019	BANK.TO vs HEQT.TO
ENCC.TO	Global X Canadian Oil and Gas Equity Covered Call ...	Derivative Income, Energy Equities	93	31.48%	784.46M	Apr 2011	BANK.TO vs ENCC.TO
GCVG.L	SPDR Refinitiv Global Convertible Bond GBP Hedged ...	Convertible Bonds	88	14.02%	2.33B	Jan 2022	BANK.TO vs GCVG.L

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Diversifiers

Pair BANK.TO with funds that move differently

Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to BANK.TO.

Explore BANK.TO Diversifiers

Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.TO) Alternatives