HCAL.TO Alternatives & Similar ETFs

Hamilton Enhanced Canadian Bank ETF (HCAL.TO) belongs to the Financials Equities category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with HCAL.TO. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to HCAL.TO

HCAL.TO charges 0.65% annually. There are 10 ETFs in the Financials Equities category with lower expense ratios, going as low as 0.09%.

Symbol	Name	Expense Ratio	AUM	Inception
HBNK.TO	Global X Equal Weight Banks Index ETF	0.09%	—	Jul 2023	HCAL.TO vs HBNK.TO
HEB.TO	Hamilton Canadian Bank Equal-Weight Index ETF	0.19%	1.44B	Apr 2023	HCAL.TO vs HEB.TO
XUSF.TO	iShares S&P U.S. Financials Index ETF	0.25%	—	Sep 2023	HCAL.TO vs XUSF.TO
HXF.TO	Global X S&P/TSX Capped Financials Index Corporate...	0.25%	132.91M	Sep 2013	HCAL.TO vs HXF.TO
ZEB.TO	BMO Equal Weight Banks Index ETF	0.25%	7.20B	Oct 2009	HCAL.TO vs ZEB.TO

Best Risk-Adjusted Alternatives to HCAL.TO

HCAL.TO has a PortfoliosLab risk / return rank of 98. There are 2 ETFs in the Financials Equities category with higher risk-adjusted ranks, going as high as 98.

Symbol	Name	Risk / Return Rank	AUM	Inception
CBNK.TO	Mulvihill Canadian Bank Enhanced Yield ETF	98	—	Feb 2022	HCAL.TO vs CBNK.TO
BNKL.TO	Global X Enhanced Equal Weight Banks Index ETF	98	—	Jul 2023	HCAL.TO vs BNKL.TO
HBNK.TO	Global X Equal Weight Banks Index ETF	98	—	Jul 2023	HCAL.TO vs HBNK.TO
ZEB.TO	BMO Equal Weight Banks Index ETF	98	7.20B	Oct 2009	HCAL.TO vs ZEB.TO
HEB.TO	Hamilton Canadian Bank Equal-Weight Index ETF	98	1.44B	Apr 2023	HCAL.TO vs HEB.TO

Top Performing HCAL.TO Alternatives (YTD)

HCAL.TO is at 42.24% YTD. There are 2 ETFs in the Financials Equities category with higher YTD returns, going as high as 49.68%.

Symbol	Name	YTD Return	AUM	Inception
CFOU.TO	BetaPro S&P/TSX Capped Financials 2x Daily Bull ET...	49.68%	86.75M	Jun 2007	HCAL.TO vs CFOU.TO
CBNK.TO	Mulvihill Canadian Bank Enhanced Yield ETF	45.98%	—	Feb 2022	HCAL.TO vs CBNK.TO
BNKL.TO	Global X Enhanced Equal Weight Banks Index ETF	41.88%	—	Jul 2023	HCAL.TO vs BNKL.TO
RBNK.TO	RBC Canadian Bank Yield Index ETF	34.39%	508.88M	Oct 2017	HCAL.TO vs RBNK.TO
ZEB.TO	BMO Equal Weight Banks Index ETF	33.86%	7.20B	Oct 2009	HCAL.TO vs ZEB.TO

Lowest Volatility Alternatives to HCAL.TO

HCAL.TO has 16.69% 1-year volatility. There are 18 ETFs in the Financials Equities category with lower 1-year volatility, going as low as 9.15%.

Symbol	Name	Volatility 1Y	AUM	Inception
FIE.TO	iShares Canadian Financial Monthly Income ETF	9.15%	1.44B	Apr 2010	HCAL.TO vs FIE.TO
CIC.TO	CI Canadian Banks Covered Call Income Class ETF	11.85%	358.67M	Aug 2010	HCAL.TO vs CIC.TO
HPYB.TO	Harvest Premium Yield Canadian Bank ETF	11.92%	—	Jan 2026	HCAL.TO vs HPYB.TO
ZWB.TO	BMO Covered Call Canadian Banks ETF	11.96%	4.84B	Jan 2011	HCAL.TO vs ZWB.TO
CEW.TO	iShares Equal Weight Banc & Lifeco ETF	12.01%	435.32M	Feb 2008	HCAL.TO vs CEW.TO

Lowest Drawdown Alternatives to HCAL.TO

HCAL.TO has a 1-year max drawdown of -10.65%. There are 13 ETFs in the Financials Equities category with shallower 1-year drawdowns, going as shallow as -7.13%.

Symbol	Name	Max Drawdown 1Y	AUM	Inception
CEW.TO	iShares Equal Weight Banc & Lifeco ETF	-7.13%	435.32M	Feb 2008	HCAL.TO vs CEW.TO
FIE.TO	iShares Canadian Financial Monthly Income ETF	-7.19%	1.44B	Apr 2010	HCAL.TO vs FIE.TO
XFN.TO	iShares S&P/TSX Capped Financials Index ETF	-7.80%	2.34B	Mar 2001	HCAL.TO vs XFN.TO
ZWB.TO	BMO Covered Call Canadian Banks ETF	-7.82%	4.84B	Jan 2011	HCAL.TO vs ZWB.TO
HXF.TO	Global X S&P/TSX Capped Financials Index Corporate...	-7.94%	132.91M	Sep 2013	HCAL.TO vs HXF.TO

Other ETFs from Hamilton Capital

The 10 most viewed Hamilton Capital ETFs shown here include HMAX.TO, HYLD.TO, UMAX.TO and span 6 categories. AUM among these funds goes as high as $3B.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
HMAX.TO	Hamilton Canadian Financials Yield Maximizer ETF	Derivative Income	96	19.85%	2.53B	Jan 2023	HCAL.TO vs HMAX.TO
HYLD.TO	Hamilton Enhanced U.S. Covered Call ETF	Derivative Income	74	14.77%	1.32B	Feb 2022	HCAL.TO vs HYLD.TO
UMAX.TO	Hamilton Utilities YIELD MAXIMIZER ETF	Derivative Income, Utilities Equities	76	10.23%	1.41B	Jun 2023	HCAL.TO vs UMAX.TO
QDAY.NEO	Hamilton EnhancedTechnology DayMAX™ ETF	Derivative Income	—	28.18%	—	Jul 2025	HCAL.TO vs QDAY.NEO
CDAY.NEO	Hamilton Enhanced Canadian Equity DayMAX ETF	Derivative Income, Canada Equities	—	19.19%	242.10M	Jul 2025	HCAL.TO vs CDAY.NEO
QMAX.TO	Hamilton Technology YIELD MAXIMIZER ETF	Technology Equities, Derivative Income	43	18.75%	991.10M	Oct 2023	HCAL.TO vs QMAX.TO
AMAX.TO	Hamilton Gold Producer YIELD MAXIMIZER ETF	Gold, Derivative Income, Precious Metals	25	-12.74%	468.60M	Feb 2024	HCAL.TO vs AMAX.TO
CMVP.TO	HAMILTON CHAMPIONS Canadian Dividend Index ETF Cla...	Canada Equities	94	17.93%	—	Jan 2025	HCAL.TO vs CMVP.TO
SDAY.NEO	Hamilton Enhanced U.S. Equity DayMAX™ ETF	Derivative Income	—	17.83%	0.00	Jul 2025	HCAL.TO vs SDAY.NEO
SMAX.TO	Hamilton U.S. Equity YIELD MAXIMIZER ETF	Derivative Income	92	18.22%	1.10B	Oct 2023	HCAL.TO vs SMAX.TO

Often Compared With HCAL.TO

Investors most often compare HCAL.TO with BANK.TO, VDY.TO, HDIV.TO. These 20 comparison targets span 12 categories, based on PortfoliosLab usage data.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
BANK.TO	Evolve Canadian Banks and Lifecos Enhanced Yield I...	Derivative Income	98	30.92%	1.26B	Feb 2022	HCAL.TO vs BANK.TO
VDY.TO	Vanguard FTSE Canadian High Dividend Yield Index E...	Dividend	99	27.73%	8.59B	Nov 2012	HCAL.TO vs VDY.TO
HDIV.TO	Hamilton Enhanced Canadian Covered Call ETF	Derivative Income	95	19.24%	1.74B	Jul 2021	HCAL.TO vs HDIV.TO
MKP.TO	MCAN Mortgage Corporation		96	21.97%	—	—	HCAL.TO vs MKP.TO
HCA.TO	Hamilton Canadian Bank Mean Reversion Index ETF	Canada Equities	98	36.06%	107.00M	Jun 2020	HCAL.TO vs HCA.TO
SCHD	Schwab U.S. Dividend Equity ETF	Dividend	86	20.66%	98.55B	Oct 2011	HCAL.TO vs SCHD
HHIC.TO	Harvest Canadian High Income Shares ETF	Canada Equities, Derivative Income	—	11.63%	222.19M	Aug 2025	HCAL.TO vs HHIC.TO
HFIN.TO	Hamilton Enhanced Canadian Financials ETF	Financials Equities	97	28.48%	490.40M	Jan 2022	HCAL.TO vs HFIN.TO
ZCLN.TO	BMO Clean Energy Index ETF	Alternative Energy Equities	50	17.73%	—	Jan 2021	HCAL.TO vs ZCLN.TO
ZCH.TO	BMO MSCI China ESG Leaders Index ETF	China Equities, Asia Pacific Equities	9	-12.17%	115.36M	Jan 2010	HCAL.TO vs ZCH.TO
QQU.TO	BetaPro NASDAQ-100 2x Daily Bull ETF	Nasdaq-100, Leveraged Equities	46	26.36%	469.81M	Jun 2008	HCAL.TO vs QQU.TO
SMVP.TO	HAMILTON CHAMPIONS U.S. Dividend Index ETF (CAD He...	Large Cap Blend Equities	46	11.15%	—	Jan 2025	HCAL.TO vs SMVP.TO
VFV.TO	Vanguard S&P 500 Index ETF	S&P 500	79	13.78%	34.09B	Nov 2012	HCAL.TO vs VFV.TO
TBNK.TO	TD Canadian Bank Dividend Index ETF	Dividend	98	33.87%	400.72M	Apr 2023	HCAL.TO vs TBNK.TO
AMHE.TO	Harvest Amazon Enhanced High Income Shares ETF - C...	Leveraged Equities	19	9.58%	—	Aug 2024	HCAL.TO vs AMHE.TO
AGF-B.TO	AGF Management Ltd		91	36.69%	—	—	HCAL.TO vs AGF-B.TO
HSX.L	Hiscox Ltd		95	32.23%	—	—	HCAL.TO vs HSX.L
HEQL.TO	Global X Enhanced All-Equity Asset Allocation ETF ...	Leveraged Equities	—	—	—	Oct 2023	HCAL.TO vs HEQL.TO
TCND.TO	BetaPro 3x S&P/TSX 60 Daily Leveraged Bull Alterna...	Leveraged Equities	—	33.15%	—	Aug 2025	HCAL.TO vs TCND.TO
ZPR.TO	BMO Laddered Preferred Share Index ETF	Preferred Stock/Convertible Bonds	97	7.75%	1.60B	Nov 2012	HCAL.TO vs ZPR.TO

Compare HCAL.TO with Any Fund or Stock

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

Symbol name

Diversifiers

Pair HCAL.TO with funds that move differently

Hamilton Enhanced Canadian Bank ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to HCAL.TO.

Explore HCAL.TO Diversifiers

Hamilton Enhanced Canadian Bank ETF (HCAL.TO) Alternatives