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Hamilton Enhanced Canadian Equity DayMAX ETF (CDAY.NEO) Alternatives

ETF · Currency in CAD · Last updated Jul 16, 2026

CDAY aims to deliver attractive income by investing primarily in Canadian equities and supplementing income through an actively managed, primarily ultra-short-term option strategy on its North American equity exposure, using modest 25% leverage.

Hamilton Enhanced Canadian Equity DayMAX ETF (CDAY.NEO) 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 CDAY.NEO. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to CDAY.NEO

CDAY.NEO charges 0.85% annually. There are 67 ETFs in the Derivative Income category with lower expense ratios, going as low as 0.29%.

SymbolNameExpense RatioAUMInception
ECHI.TO
Ninepoint Enhanced Canadian HighShares ETF0.29%—Aug 2025CDAY.NEO vs ECHI.TO
EQLI.TO
Invesco S&P 500 Equal Weight Income Advantage ETF0.29%169.56MNov 2025CDAY.NEO vs EQLI.TO
HBIL.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedg...0.35%224.00MSep 2024CDAY.NEO vs HBIL.TO
JEPI.TO
JPMorgan US Equity Premium Income Active ETF0.35%—Sep 2024CDAY.NEO vs JEPI.TO
JEPQ.TO
JPMorgan Nasdaq Equity Premium Income Active ETF0.35%136.22MSep 2024CDAY.NEO vs JEPQ.TO

Best Risk-Adjusted Alternatives to CDAY.NEO

CDAY.NEO has a PortfoliosLab risk / return rank of 92. There are 13 ETFs in the Derivative Income category with higher risk-adjusted ranks, going as high as 98.

SymbolNameRisk / Return RankAUMInception
HLIF.TO
Harvest Canadian Equity Income Leaders ETF Class A
98
180.28MJun 2022CDAY.NEO vs HLIF.TO
CBNK.TO
Mulvihill Canadian Bank Enhanced Yield ETF
98
—Feb 2022CDAY.NEO vs CBNK.TO
BANK.TO
Evolve Canadian Banks and Lifecos Enhanced Yield I...
98
1.26BFeb 2022CDAY.NEO vs BANK.TO
ZWB.TO
BMO Covered Call Canadian Banks ETF
98
4.84BJan 2011CDAY.NEO vs ZWB.TO
BKCL.TO
Global X Enhanced Equal Weight Canadian Banks Cove...
97
198.10MJul 2023CDAY.NEO vs BKCL.TO

Top Performing CDAY.NEO Alternatives (YTD)

CDAY.NEO is at 19.03% YTD. There are 25 ETFs in the Derivative Income category with higher YTD returns, going as high as 49.92%.

SymbolNameYTD ReturnAUMInception
CBNK.TO
Mulvihill Canadian Bank Enhanced Yield ETF
49.92%
—Feb 2022CDAY.NEO vs CBNK.TO
ENCL.TO
Global X Enhanced Canadian Oil and Gas Equity Cove...
34.83%
271.10MOct 2023CDAY.NEO vs ENCL.TO
BANK.TO
Evolve Canadian Banks and Lifecos Enhanced Yield I...
34.25%
1.26BFeb 2022CDAY.NEO vs BANK.TO
YAVG.NEO
Broadcom (AVGO) Yield Shares Purpose ETF
33.82%
—Feb 2025CDAY.NEO vs YAVG.NEO
BKCL.TO
Global X Enhanced Equal Weight Canadian Banks Cove...
32.52%
198.10MJul 2023CDAY.NEO vs BKCL.TO

Lowest Volatility Alternatives to CDAY.NEO

CDAY.NEO has 12.57% 1-year volatility. There are 35 ETFs in the Derivative Income category with lower 1-year volatility, going as low as 1.76%.

SymbolNameVolatility 1YAUMInception
HBIL.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedg...1.76%224.00MSep 2024CDAY.NEO vs HBIL.TO
HBIL-U.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhed...1.91%—Sep 2024CDAY.NEO vs HBIL-U.TO
HPYM.TO
Harvest Premium Yield 7-10 Year Treasury ETF - Cla...4.75%259.21MJan 2024CDAY.NEO vs HPYM.TO
FCMI.TO
Fidelity Canadian Monthly High Income ETF6.39%—Jan 2020CDAY.NEO vs FCMI.TO
ZPH.TO
BMO US Put Write Hedged to CAD ETF6.55%35.29MFeb 2017CDAY.NEO vs ZPH.TO

Lowest Drawdown Alternatives to CDAY.NEO

CDAY.NEO has a 1-year max drawdown of -9.65%. There are 45 ETFs in the Derivative Income category with shallower 1-year drawdowns, going as shallow as -0.95%.

SymbolNameMax Drawdown 1YAUMInception
HBIL.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedg...
-0.95%
224.00MSep 2024CDAY.NEO vs HBIL.TO
HBIL-U.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhed...
-1.07%
—Sep 2024CDAY.NEO vs HBIL-U.TO
HLIF.TO
Harvest Canadian Equity Income Leaders ETF Class A
-3.09%
180.28MJun 2022CDAY.NEO vs HLIF.TO
FCMI.TO
Fidelity Canadian Monthly High Income ETF
-3.62%
—Jan 2020CDAY.NEO vs FCMI.TO
HPYM.TO
Harvest Premium Yield 7-10 Year Treasury ETF - Cla...
-3.87%
259.21MJan 2024CDAY.NEO vs HPYM.TO

Other ETFs from Hamilton Capital

The 10 most viewed Hamilton Capital ETFs shown here include HMAX.TO, HYLD.TO, HCAL.TO and span 8 categories. AUM among these funds goes as high as $3B.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
HMAX.TO
Hamilton Canadian Financials Yield Maximizer ETFDerivative Income
97
21.82%
2.53BJan 2023CDAY.NEO vs HMAX.TO
HYLD.TO
Hamilton Enhanced U.S. Covered Call ETFDerivative Income
74
14.77%
1.32BFeb 2022CDAY.NEO vs HYLD.TO
HCAL.TO
Hamilton Enhanced Canadian Bank ETFFinancials Equities, Canada Equities, Leveraged Equities
98
46.44%
1.09BOct 2020CDAY.NEO vs HCAL.TO
QDAY.NEO
Hamilton EnhancedTechnology DayMAX™ ETFDerivative Income
62
28.39%
—Jul 2025CDAY.NEO vs QDAY.NEO
UMAX.TO
Hamilton Utilities YIELD MAXIMIZER ETFDerivative Income, Utilities Equities
73
10.07%
1.41BJun 2023CDAY.NEO vs UMAX.TO
QMAX.TO
Hamilton Technology YIELD MAXIMIZER ETFTechnology Equities, Derivative Income
40
19.30%
991.10MOct 2023CDAY.NEO vs QMAX.TO
AMAX.TO
Hamilton Gold Producer YIELD MAXIMIZER ETFGold, Derivative Income, Precious Metals
25
-12.97%
468.60MFeb 2024CDAY.NEO vs AMAX.TO
CMVP.TO
HAMILTON CHAMPIONS Canadian Dividend Index ETF Cla...Canada Equities
95
18.36%
—Jan 2025CDAY.NEO vs CMVP.TO
SDAY.NEO
Hamilton Enhanced U.S. Equity DayMAX™ ETFDerivative Income
66
14.19%
0.00Jul 2025CDAY.NEO vs SDAY.NEO
SMAX.TO
Hamilton U.S. Equity YIELD MAXIMIZER ETFDerivative Income
91
17.34%
1.10BOct 2023CDAY.NEO vs SMAX.TO

Often Compared With CDAY.NEO

Investors most often compare CDAY.NEO with HDIV.TO, CANY.TO, ZEB.TO. These 20 comparison targets span 10 categories, based on PortfoliosLab usage data.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
HDIV.TO
Hamilton Enhanced Canadian Covered Call ETFDerivative Income
95
19.95%
1.74BJul 2021CDAY.NEO vs HDIV.TO
CANY.TO
Evolve Canadian Equity UltraYield ETFDerivative Income, Canada Equities—
14.33%
—Sep 2025CDAY.NEO vs CANY.TO
ZEB.TO
BMO Equal Weight Banks Index ETFFinancials Equities, Equal Weight
98
36.93%
7.20BOct 2009CDAY.NEO vs ZEB.TO
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index E...Dividend
99
29.59%
8.59BNov 2012CDAY.NEO vs VDY.TO
CWIN.TO
HAMILTON CHAMPIONS Enhanced Canadian Dividend ETF ...Dividend
95
21.69%
—Jan 2025CDAY.NEO vs CWIN.TO
VOO
Vanguard S&P 500 ETFS&P 500
70
11.30%
1.70TSep 2010CDAY.NEO vs VOO
HHIC.TO
Harvest Canadian High Income Shares ETFCanada Equities, Derivative Income—
11.79%
222.19MAug 2025CDAY.NEO vs HHIC.TO
CNCC.TO
Global X Canadian S&P/TSX 60 Covered Call ETFOptions Trading
92
11.25%
182.03MMar 2011CDAY.NEO vs CNCC.TO
EIT-UN.TO
Canoe EIT Income FundDiversified Portfolio
89
16.35%
—Aug 1997CDAY.NEO vs EIT-UN.TO
HHIS.TO
Harvest Diversified High Income Shares ETFDerivative Income
22
9.52%
1.87BJan 2025CDAY.NEO vs HHIS.TO
LBS.TO
Life & Banc Split Corp.
98
99.74%
——CDAY.NEO vs LBS.TO
HEQT.TO
Horizons All-Equity Asset Allocation ETFGlobal Equities
86
15.01%
—Sep 2019CDAY.NEO vs HEQT.TO
UTES.TO
Evolve Canadian Utilities Enhanced Yield Index Fun...Derivative Income
77
13.10%
431.22MSep 2024CDAY.NEO vs UTES.TO
BKCC.TO
Global X Equal Weight Canadian Bank Covered Call E...Derivative Income
97
26.05%
400.33MMay 2011CDAY.NEO vs BKCC.TO
QDTE
Roundhill Innovation-100 0DTE Covered Call Strateg...Derivative Income, Options Trading
66
14.26%
923.83MMar 2024CDAY.NEO vs QDTE
EQCL.TO
Global X Enhanced All-Equity Asset Allocation Cove...Derivative Income
86
15.49%
66.30MOct 2023CDAY.NEO vs EQCL.TO
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETFCanada Equities
98
27.27%
4.25BApr 2011CDAY.NEO vs XEI.TO
DXQ.TO
Dynamic Active Enhanced Yield Covered Options ETFDerivative Income
68
8.37%
—Sep 2022CDAY.NEO vs DXQ.TO
TLV.TO
Invesco S&P/TSX Composite Low Volatility Index ETFCanada Equities
97
18.03%
103.58MApr 2012CDAY.NEO vs TLV.TO
SMVP.TO
HAMILTON CHAMPIONS U.S. Dividend Index ETF (CAD He...Large Cap Blend Equities
43
11.21%
—Jan 2025CDAY.NEO vs SMVP.TO

Compare CDAY.NEO with Any Fund or Stock

Compare CDAY.NEO with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

 

Diversifiers

Pair CDAY.NEO with funds that move differently

Hamilton Enhanced Canadian Equity DayMAX ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to CDAY.NEO.

Explore CDAY.NEO Diversifiers