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BANK.TO vs. CDAY.NEO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BANK.TO vs. CDAY.NEO

Last updated Jun 4, 2026

BANK.TO (Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund) and CDAY.NEO (Hamilton Enhanced Canadian Equity DayMAX ETF) are both Derivative Income funds. BANK.TO is passively managed, while CDAY.NEO is actively managed. A 0.70 correlation means they provide meaningful diversification when combined. BANK.TO charges 0.60%/yr vs 0.85%/yr for CDAY.NEO.

Performance

BANK.TO vs. CDAY.NEO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.TO) and Hamilton Enhanced Canadian Equity DayMAX ETF (CDAY.NEO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, BANK.TO achieves a 17.36% return, which is significantly higher than CDAY.NEO's 13.70% return.

BANK.TO

1D
-0.47%
1M
6.16%
YTD
17.36%
6M
23.52%
1Y
55.24%
3Y*
31.96%
5Y*
—
10Y*
—

CDAY.NEO

1D
-0.28%
1M
3.85%
YTD
13.70%
6M
15.38%
1Y
—
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

BANK.TO vs. CDAY.NEO - Yearly Performance Comparison

2026 (YTD)2025
BANK.TO
Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund		17.36%27.87%
CDAY.NEO
Hamilton Enhanced Canadian Equity DayMAX ETF		13.70%14.26%

Correlation

The correlation between BANK.TO and CDAY.NEO is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (All Time)
Calculated using the full available price history since Jul 15, 2025

0.70

BANK.TO vs. CDAY.NEO - Sectors Allocation Comparison

Sectors
BANK.TO
CDAY.NEO

Financial Services

100.0%
29.6%

Basic Materials

-

14.5%

Communication Services

-

8.2%

Consumer Cyclical

-

8.3%

Consumer Defensive

-

4.1%

Energy

-

9.3%

Healthcare

-

1.8%

Industrials

-

13.8%

Real Estate

-

0.4%

Technology

-

6.2%

Utilities

-

3.8%

Financial Services

BANK.TO
100.0%
CDAY.NEO
29.6%

Basic Materials

BANK.TO

-

CDAY.NEO
14.5%

Communication Services

BANK.TO

-

CDAY.NEO
8.2%

Consumer Cyclical

BANK.TO

-

CDAY.NEO
8.3%

Consumer Defensive

BANK.TO

-

CDAY.NEO
4.1%

Energy

BANK.TO

-

CDAY.NEO
9.3%

Healthcare

BANK.TO

-

CDAY.NEO
1.8%

Industrials

BANK.TO

-

CDAY.NEO
13.8%

Real Estate

BANK.TO

-

CDAY.NEO
0.4%

Technology

BANK.TO

-

CDAY.NEO
6.2%

Utilities

BANK.TO

-

CDAY.NEO
3.8%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund

Hamilton Enhanced Canadian Equity DayMAX ETF

Often compared with BANK.TO:
BANK.TO vs. HMAX.TOBANK.TO vs. HCAL.TOBANK.TO vs. VDY.TOBANK.TO vs. RBNK.TOBANK.TO vs. HYLD.TOBANK.TO vs. VCN.TOBANK.TO vs. VEQT.TO
Often compared with CDAY.NEO:
CDAY.NEO vs. HDIV.TOCDAY.NEO vs. QDAY.NEOCDAY.NEO vs. CANY.TOCDAY.NEO vs. SDAY.NEOCDAY.NEO vs. HCAL.TOCDAY.NEO vs. VDY.TOCDAY.NEO vs. ZEB.TO

Return for Risk

BANK.TO vs. CDAY.NEO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BANK.TO
BANK.TO Risk / Return Rank: 9696
Overall Rank
BANK.TO Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
BANK.TO Sortino Ratio Rank: 9797
Sortino Ratio Rank
BANK.TO Omega Ratio Rank: 9696
Omega Ratio Rank
BANK.TO Calmar Ratio Rank: 9393
Calmar Ratio Rank
BANK.TO Martin Ratio Rank: 9595
Martin Ratio Rank
CDAY.NEO
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BANK.TO vs. CDAY.NEO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.TO) and Hamilton Enhanced Canadian Equity DayMAX ETF (CDAY.NEO). 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.

BANK.TOCDAY.NEODifference

Sharpe ratio

Return per unit of total volatility

4.59

—

—

Sortino ratio

Return per unit of downside risk

6.28

—

—

Omega ratio

Gain probability vs. loss probability

1.85

—

—

Calmar ratio

Return relative to maximum drawdown

6.75

—

—

Martin ratio

Return relative to average drawdown

29.78

—

—

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BANK.TO vs. CDAY.NEO - Sharpe Ratio Comparison

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Sharpe Ratios by Period

BANK.TOCDAY.NEODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

4.59

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.08

3.03

-1.96

Drawdowns

BANK.TO vs. CDAY.NEO - Drawdown Comparison

The maximum BANK.TO drawdown since its inception was -29.03%, which is greater than CDAY.NEO's maximum drawdown of -8.00%. Use the drawdown chart below to compare losses from any high point for BANK.TO and CDAY.NEO.

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Drawdown Indicators

BANK.TOCDAY.NEODifference

Max Drawdown

Largest peak-to-trough decline

-29.03%

-8.00%

-21.03%

Max Drawdown (1Y)

Largest decline over 1 year

-8.23%

—

—

Max Drawdown (3Y)

Largest decline over 3 years

-15.49%

—

—

Current Drawdown

Current decline from peak

-1.16%

-0.83%

-0.33%

Average Drawdown

Average peak-to-trough decline

-8.81%

-1.02%

-7.79%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.86%

—

—

Volatility

BANK.TO vs. CDAY.NEO - Volatility Comparison

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Volatility by Period

BANK.TOCDAY.NEODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.28%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

10.45%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

12.09%

11.37%

+0.72%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.65%

11.37%

+4.28%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.65%

11.37%

+4.28%

BANK.TO vs. CDAY.NEO - Expense Ratio Comparison

BANK.TO has a 0.60% expense ratio, which is lower than CDAY.NEO's 0.85% expense ratio.

Dividends

BANK.TO vs. CDAY.NEO - Dividend Comparison

BANK.TO's dividend yield for the trailing twelve months is around 13.02%, less than CDAY.NEO's 14.55% yield.

PositionTTM2025202420232022
BANK.TO
Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund		13.02%13.73%15.28%13.60%10.52%
CDAY.NEO
Hamilton Enhanced Canadian Equity DayMAX ETF		14.55%7.88%0.00%0.00%0.00%

Frequently Asked Questions

BANK.TO and CDAY.NEO have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, BANK.TO is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

BANK.TO is cheaper with a 0.60% expense ratio, compared with 0.85% for CDAY.NEO.

They also come from different issuers: Evolve and Hamilton Capital. Their fees differ too: 0.60% for BANK.TO and 0.85% for CDAY.NEO.

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