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BASE.TO vs. HDIV.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BASE.TO vs. HDIV.TO

Last updated Jun 4, 2026

BASE.TO (Evolve Global Materials & Mining Enhanced Yield Index ETF) and HDIV.TO (Hamilton Enhanced Multi-Sector Covered Call ETF) are both exchange-traded funds - BASE.TO is a Materials fund tracking the Solactive Materials & Mining, while HDIV.TO is a Derivative Income fund actively managed by Hamilton Capital. BASE.TO is passively managed, while HDIV.TO is actively managed. Over the past 3 years, BASE.TO returned 18.08%/yr vs 27.58%/yr for HDIV.TO. A 0.65 correlation means they provide meaningful diversification when combined. Both charge a 0.00% expense ratio.

Performance

BASE.TO vs. HDIV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Evolve Global Materials & Mining Enhanced Yield Index ETF (BASE.TO) and Hamilton Enhanced Multi-Sector Covered Call ETF (HDIV.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, BASE.TO achieves a 29.75% return, which is significantly higher than HDIV.TO's 16.21% return.

BASE.TO

1D
-0.88%
1M
6.77%
YTD
29.75%
6M
33.42%
1Y
59.98%
3Y*
18.08%
5Y*
8.92%
10Y*
—

HDIV.TO

1D
-0.26%
1M
6.14%
YTD
16.21%
6M
17.63%
1Y
45.50%
3Y*
27.58%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

BASE.TO vs. HDIV.TO - Yearly Performance Comparison

2026 (YTD)20252024202320222021
BASE.TO
Evolve Global Materials & Mining Enhanced Yield Index ETF		29.75%30.33%-13.56%17.50%-4.63%1.09%
HDIV.TO
Hamilton Enhanced Multi-Sector Covered Call ETF		16.21%33.87%23.15%13.91%-2.52%12.70%

Correlation

The correlation between BASE.TO and HDIV.TO is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.66

Correlation (3Y)
Calculated over the trailing 3-year period

0.64

Correlation (All Time)
Calculated using the full available price history since Jul 19, 2021

0.65

The correlation between BASE.TO and HDIV.TO has been stable across timeframes, ranging from 0.64 to 0.66 - a consistent structural relationship.

BASE.TO vs. HDIV.TO - Sectors Allocation Comparison

Sectors
BASE.TO
HDIV.TO

Basic Materials

90.4%
13.4%

Industrials

9.6%
3.0%

Communication Services

-

6.3%

Consumer Cyclical

-

2.5%

Consumer Defensive

-

0.3%

Energy

-

18.4%

Financial Services

-

39.8%

Healthcare

-

0.2%

Real Estate

-

2.1%

Technology

-

9.5%

Utilities

-

4.7%

Basic Materials

BASE.TO
90.4%
HDIV.TO
13.4%

Industrials

BASE.TO
9.6%
HDIV.TO
3.0%

Communication Services

BASE.TO

-

HDIV.TO
6.3%

Consumer Cyclical

BASE.TO

-

HDIV.TO
2.5%

Consumer Defensive

BASE.TO

-

HDIV.TO
0.3%

Energy

BASE.TO

-

HDIV.TO
18.4%

Financial Services

BASE.TO

-

HDIV.TO
39.8%

Healthcare

BASE.TO

-

HDIV.TO
0.2%

Real Estate

BASE.TO

-

HDIV.TO
2.1%

Technology

BASE.TO

-

HDIV.TO
9.5%

Utilities

BASE.TO

-

HDIV.TO
4.7%

Compare stocks, funds, or ETFs

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

Evolve Global Materials & Mining Enhanced Yield Index ETF

Hamilton Enhanced Multi-Sector Covered Call ETF

Often compared with BASE.TO:
BASE.TO vs. OILY.TOBASE.TO vs. UTES.TOBASE.TO vs. BIGY.TOBASE.TO vs. CANY.TOBASE.TO vs. ENCC.TOBASE.TO vs. QQQT.TOBASE.TO vs. EBNK.TO
Often compared with HDIV.TO:
HDIV.TO vs. HYLD.TOHDIV.TO vs. HMAX.TOHDIV.TO vs. HDIF.TOHDIV.TO vs. XDIV.TOHDIV.TO vs. HHIS.TOHDIV.TO vs. VDY.TOHDIV.TO vs. ZWC.TO

Return for Risk

BASE.TO vs. HDIV.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BASE.TO
BASE.TO Risk / Return Rank: 7979
Overall Rank
BASE.TO Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
BASE.TO Sortino Ratio Rank: 7575
Sortino Ratio Rank
BASE.TO Omega Ratio Rank: 7575
Omega Ratio Rank
BASE.TO Calmar Ratio Rank: 7777
Calmar Ratio Rank
BASE.TO Martin Ratio Rank: 8282
Martin Ratio Rank
HDIV.TO
HDIV.TO Risk / Return Rank: 9292
Overall Rank
HDIV.TO Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
HDIV.TO Sortino Ratio Rank: 9393
Sortino Ratio Rank
HDIV.TO Omega Ratio Rank: 9494
Omega Ratio Rank
HDIV.TO Calmar Ratio Rank: 8888
Calmar Ratio Rank
HDIV.TO Martin Ratio Rank: 9393
Martin Ratio Rank
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.

BASE.TO vs. HDIV.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Evolve Global Materials & Mining Enhanced Yield Index ETF (BASE.TO) and Hamilton Enhanced Multi-Sector Covered Call ETF (HDIV.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.

BASE.TOHDIV.TODifference

Sharpe ratio

Return per unit of total volatility

2.71

3.67

-0.96

Sortino ratio

Return per unit of downside risk

3.38

4.70

-1.32

Omega ratio

Gain probability vs. loss probability

1.45

1.68

-0.23

Calmar ratio

Return relative to maximum drawdown

3.85

5.24

-1.39

Martin ratio

Return relative to average drawdown

16.44

25.39

-8.95

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

BASE.TO vs. HDIV.TO - Sharpe Ratio Comparison

The current BASE.TO Sharpe Ratio is 2.71, which is comparable to the HDIV.TO Sharpe Ratio of 3.67. The chart below compares the historical Sharpe Ratios of BASE.TO and HDIV.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.

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Sharpe Ratios by Period

BASE.TOHDIV.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.71

3.67

-0.96

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.39

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.59

1.26

-0.67

Drawdowns

BASE.TO vs. HDIV.TO - Drawdown Comparison

The maximum BASE.TO drawdown since its inception was -33.43%, which is greater than HDIV.TO's maximum drawdown of -22.32%. Use the drawdown chart below to compare losses from any high point for BASE.TO and HDIV.TO.

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Drawdown Indicators

BASE.TOHDIV.TODifference

Max Drawdown

Largest peak-to-trough decline

-33.43%

-22.32%

-11.11%

Max Drawdown (1Y)

Largest decline over 1 year

-15.68%

-8.73%

-6.95%

Max Drawdown (3Y)

Largest decline over 3 years

-24.11%

-14.58%

-9.53%

Max Drawdown (5Y)

Largest decline over 5 years

-33.43%

—

—

Current Drawdown

Current decline from peak

-0.99%

-0.63%

-0.36%

Average Drawdown

Average peak-to-trough decline

-9.31%

-4.22%

-5.09%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.66%

1.80%

+1.86%

Volatility

BASE.TO vs. HDIV.TO - Volatility Comparison

Evolve Global Materials & Mining Enhanced Yield Index ETF (BASE.TO) has a higher volatility of 7.55% compared to Hamilton Enhanced Multi-Sector Covered Call ETF (HDIV.TO) at 3.80%. This indicates that BASE.TO's price experiences larger fluctuations and is considered to be riskier than HDIV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BASE.TOHDIV.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

7.55%

3.80%

+3.75%

Volatility (6M)

Calculated over the trailing 6-month period

17.54%

10.29%

+7.25%

Volatility (1Y)

Calculated over the trailing 1-year period

22.27%

12.47%

+9.80%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.01%

15.63%

+7.38%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

26.37%

15.63%

+10.74%

BASE.TO vs. HDIV.TO - Expense Ratio Comparison

BASE.TO has a 0.00% expense ratio, which is lower than HDIV.TO's 0.00% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

BASE.TO vs. HDIV.TO - Dividend Comparison

BASE.TO's dividend yield for the trailing twelve months is around 7.85%, less than HDIV.TO's 9.33% yield.

PositionTTM2025202420232022202120202019
BASE.TO
Evolve Global Materials & Mining Enhanced Yield Index ETF		7.85%9.55%11.20%8.80%8.96%5.95%4.67%2.88%
HDIV.TO
Hamilton Enhanced Multi-Sector Covered Call ETF		9.33%10.09%11.38%10.41%9.64%3.39%0.00%0.00%

Frequently Asked Questions

BASE.TO and HDIV.TO have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Both ETFs have the same 0.00% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

BASE.TO and HDIV.TO have the same expense ratio: 0.00% per year.

BASE.TO is categorized as Materials, while HDIV.TO is Derivative Income. They also come from different issuers: Evolve and Hamilton Capital.

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