BANK.TO vs. EIT-UN.TO

Last updated Jun 14, 2026

BANK.TO (Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund) and EIT-UN.TO (Canoe EIT Income Fund) are both funds - BANK.TO is a Derivative Income fund tracking the Solactive Canadian Core Financials Equal Weight Index, while EIT-UN.TO is a Diversified Portfolio fund actively managed by Canoe. BANK.TO is passively managed, while EIT-UN.TO is actively managed. Over the past 3 years, BANK.TO returned 34.20%/yr vs 20.71%/yr for EIT-UN.TO. A 0.56 correlation means they provide meaningful diversification when combined. BANK.TO charges 0.60%/yr vs 1.10%/yr for EIT-UN.TO.

Performance

BANK.TO vs. EIT-UN.TO - 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 Canoe EIT Income Fund (EIT-UN.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BANK.TO achieves a 23.62% return, which is significantly higher than EIT-UN.TO's 14.30% return.

BANK.TO

• 1D: 1.08%
• 1M: 8.67%
• YTD: 23.62%
• 6M: 25.01%
• 1Y: 64.23%
• 3Y*: 34.20%
• 5Y*: —
• 10Y*: —

EIT-UN.TO

• 1D: 0.58%
• 1M: 1.74%
• YTD: 14.30%
• 6M: 14.60%
• 1Y: 20.74%
• 3Y*: 20.71%
• 5Y*: 16.85%
• 10Y*: 15.91%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BANK.TO vs. EIT-UN.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BANK.TO Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund	23.62%	41.00%	27.90%	16.23%	-20.47%
EIT-UN.TO Canoe EIT Income Fund	14.30%	11.81%	27.99%	5.94%	9.09%

Correlation

The correlation between BANK.TO and EIT-UN.TO is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (All Time) Calculated using the full available price history since Feb 2, 2022	0.56

The correlation between BANK.TO and EIT-UN.TO has been stable across timeframes, ranging from 0.50 to 0.56 - a consistent structural relationship.

Return for Risk

BANK.TO vs. EIT-UN.TO — 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: 97
BANK.TO Sharpe Ratio Rank: 98
BANK.TO Sortino Ratio Rank: 98
BANK.TO Omega Ratio Rank: 98
BANK.TO Calmar Ratio Rank: 96
BANK.TO Martin Ratio Rank: 97

EIT-UN.TO

EIT-UN.TO Risk / Return Rank: 84
EIT-UN.TO Sharpe Ratio Rank: 84
EIT-UN.TO Sortino Ratio Rank: 85
EIT-UN.TO Omega Ratio Rank: 80
EIT-UN.TO Calmar Ratio Rank: 86
EIT-UN.TO Martin Ratio Rank: 86

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. EIT-UN.TO - 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 Canoe EIT Income Fund (EIT-UN.TO). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BANK.TO	EIT-UN.TO	Difference
Sharpe ratio: Return per unit of total volatility	5.20	2.34	+2.86
Sortino ratio: Return per unit of downside risk	7.03	3.53	+3.50
Omega ratio: Gain probability vs. loss probability	1.97	1.43	+0.53
Calmar ratio: Return relative to maximum drawdown	7.70	3.49	+4.22
Martin ratio: Return relative to average drawdown	34.12	13.34	+20.78

BANK.TO vs. EIT-UN.TO - Sharpe Ratio Comparison

The current BANK.TO Sharpe Ratio is 5.20, which is higher than the EIT-UN.TO Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of BANK.TO and EIT-UN.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BANK.TO vs. EIT-UN.TO - Drawdown Comparison

The maximum BANK.TO drawdown since its inception was -29.03%, smaller than the maximum EIT-UN.TO drawdown of -63.56%. Use the drawdown chart below to compare losses from any high point for BANK.TO and EIT-UN.TO.

Drawdown Indicators

	BANK.TO	EIT-UN.TO	Difference
Max Drawdown Largest peak-to-trough decline	-29.03%	-63.56%	+34.53%
Max Drawdown (1Y) Largest decline over 1 year	-8.27%	-5.93%	-2.34%
Max Drawdown (3Y) Largest decline over 3 years	-15.49%	-9.45%	-6.04%
Max Drawdown (5Y) Largest decline over 5 years	—	-15.57%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-50.36%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-8.75%	-8.81%	+0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.86%	1.55%	+0.31%

Volatility

BANK.TO vs. EIT-UN.TO - Volatility Comparison

Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.TO) has a higher volatility of 4.04% compared to Canoe EIT Income Fund (EIT-UN.TO) at 2.54%. This indicates that BANK.TO's price experiences larger fluctuations and is considered to be riskier than EIT-UN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BANK.TO	EIT-UN.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.04%	2.54%	+1.50%
Volatility (6M) Calculated over the trailing 6-month period	10.58%	7.54%	+3.04%
Volatility (1Y) Calculated over the trailing 1-year period	12.25%	8.83%	+3.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.66%	12.21%	+3.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.66%	17.52%	-1.86%

BANK.TO vs. EIT-UN.TO - Expense Ratio Comparison

BANK.TO has a 0.60% expense ratio, which is lower than EIT-UN.TO's 1.10% expense ratio.

Dividends

BANK.TO vs. EIT-UN.TO - Dividend Comparison

BANK.TO's dividend yield for the trailing twelve months is around 12.36%, more than EIT-UN.TO's 6.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BANK.TO Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund	12.36%	13.73%	15.28%	13.60%	10.52%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EIT-UN.TO Canoe EIT Income Fund	6.88%	7.64%	7.90%	9.29%	8.97%	9.08%	12.20%	11.53%	11.65%	10.16%	10.06%	10.71%

Frequently Asked Questions

Can I hold both BANK.TO and EIT-UN.TO in my portfolio?

BANK.TO and EIT-UN.TO have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.