BKCL.TO vs. HYLD.TO

Last updated Jun 4, 2026

BKCL.TO (Global X Enhanced Equal Weight Canadian Banks Covered Call ETF) and HYLD.TO (Hamilton Enhanced U.S. Covered Call ETF) are both exchange-traded funds - BKCL.TO is a Financials Equities fund actively managed by Global X, while HYLD.TO is a Derivative Income fund actively managed by Hamilton Capital. Both are actively managed. Over the past year, BKCL.TO returned 53.29% vs 39.70% for HYLD.TO. A 0.53 correlation means they provide meaningful diversification when combined. BKCL.TO charges 1.68%/yr vs 2.37%/yr for HYLD.TO.

Performance

BKCL.TO vs. HYLD.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Enhanced Equal Weight Canadian Banks Covered Call ETF (BKCL.TO) and Hamilton Enhanced U.S. Covered Call ETF (HYLD.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BKCL.TO achieves a 17.43% return, which is significantly higher than HYLD.TO's 15.73% return.

BKCL.TO

• 1D: -0.41%
• 1M: 4.79%
• YTD: 17.43%
• 6M: 22.33%
• 1Y: 53.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HYLD.TO

• 1D: 0.09%
• 1M: 9.70%
• YTD: 15.73%
• 6M: 15.82%
• 1Y: 39.70%
• 3Y*: 23.83%
• 5Y*: —
• 10Y*: —

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

BKCL.TO vs. HYLD.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BKCL.TO Global X Enhanced Equal Weight Canadian Banks Covered Call ETF	17.43%	34.78%	20.06%	5.22%
HYLD.TO Hamilton Enhanced U.S. Covered Call ETF	15.73%	22.14%	25.39%	6.86%

Correlation

The correlation between BKCL.TO and HYLD.TO is 0.58, 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	0.58
Correlation (All Time) Calculated using the full available price history since Jul 7, 2023	0.53

The correlation between BKCL.TO and HYLD.TO has been stable across timeframes, ranging from 0.53 to 0.58 - a consistent structural relationship.

BKCL.TO vs. HYLD.TO - Sectors Allocation Comparison

Sectors	BKCL.TO	HYLD.TO
Financial Services	100.0%	12.4%
Basic Materials	-	5.0%
Communication Services	-	11.3%
Consumer Cyclical	-	8.1%
Consumer Defensive	-	3.4%
Energy	-	4.9%
Healthcare	-	9.8%
Industrials	-	5.0%
Real Estate	-	3.8%
Technology	-	33.9%
Utilities	-	2.4%

Return for Risk

BKCL.TO vs. HYLD.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BKCL.TO

BKCL.TO Risk / Return Rank: 95
BKCL.TO Sharpe Ratio Rank: 96
BKCL.TO Sortino Ratio Rank: 96
BKCL.TO Omega Ratio Rank: 96
BKCL.TO Calmar Ratio Rank: 91
BKCL.TO Martin Ratio Rank: 94

HYLD.TO

HYLD.TO Risk / Return Rank: 75
HYLD.TO Sharpe Ratio Rank: 78
HYLD.TO Sortino Ratio Rank: 77
HYLD.TO Omega Ratio Rank: 77
HYLD.TO Calmar Ratio Rank: 66
HYLD.TO Martin Ratio Rank: 75

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.

BKCL.TO vs. HYLD.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Enhanced Equal Weight Canadian Banks Covered Call ETF (BKCL.TO) and Hamilton Enhanced U.S. Covered Call ETF (HYLD.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.

	BKCL.TO	HYLD.TO	Difference
Sharpe ratio Return per unit of total volatility	4.25	2.61	+1.65
Sortino ratio Return per unit of downside risk	5.84	3.52	+2.32
Omega ratio Gain probability vs. loss probability	1.82	1.47	+0.35
Calmar ratio Return relative to maximum drawdown	5.85	3.31	+2.54
Martin ratio Return relative to average drawdown	26.81	14.63	+12.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BKCL.TO vs. HYLD.TO - Sharpe Ratio Comparison

The current BKCL.TO Sharpe Ratio is 4.25, which is higher than the HYLD.TO Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of BKCL.TO and HYLD.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.

Sharpe Ratios by Period

	BKCL.TO	HYLD.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.25	2.61	+1.65
Sharpe Ratio (All Time) Calculated using the full available price history	2.06	0.69	+1.36

Drawdowns

BKCL.TO vs. HYLD.TO - Drawdown Comparison

The maximum BKCL.TO drawdown since its inception was -16.58%, smaller than the maximum HYLD.TO drawdown of -31.38%. Use the drawdown chart below to compare losses from any high point for BKCL.TO and HYLD.TO.

Drawdown Indicators

	BKCL.TO	HYLD.TO	Difference
Max Drawdown Largest peak-to-trough decline	-16.58%	-31.38%	+14.80%
Max Drawdown (1Y) Largest decline over 1 year	-9.15%	-12.04%	+2.89%
Max Drawdown (3Y) Largest decline over 3 years	—	-21.83%	—
Current Drawdown Current decline from peak	-1.81%	0.00%	-1.81%
Average Drawdown Average peak-to-trough decline	-2.67%	-8.91%	+6.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	2.72%	-0.73%

Volatility

BKCL.TO vs. HYLD.TO - Volatility Comparison

Global X Enhanced Equal Weight Canadian Banks Covered Call ETF (BKCL.TO) and Hamilton Enhanced U.S. Covered Call ETF (HYLD.TO) have volatilities of 4.39% and 4.58%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BKCL.TO	HYLD.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.39%	4.58%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	11.34%	12.17%	-0.83%
Volatility (1Y) Calculated over the trailing 1-year period	12.59%	15.31%	-2.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.17%	19.22%	-6.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.17%	19.22%	-6.05%

BKCL.TO vs. HYLD.TO - Expense Ratio Comparison

BKCL.TO has a 1.68% expense ratio, which is lower than HYLD.TO's 2.37% expense ratio.

Dividends

BKCL.TO vs. HYLD.TO - Dividend Comparison

BKCL.TO's dividend yield for the trailing twelve months is around 11.48%, more than HYLD.TO's 11.23% yield.

Position	TTM	2025	2024	2023	2022
BKCL.TO Global X Enhanced Equal Weight Canadian Banks Covered Call ETF	11.48%	12.60%	15.02%	7.91%	0.00%
HYLD.TO Hamilton Enhanced U.S. Covered Call ETF	11.23%	11.98%	12.13%	12.11%	13.02%

Frequently Asked Questions

Can I hold both BKCL.TO and HYLD.TO in my portfolio?

BKCL.TO and HYLD.TO have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BKCL.TO or HYLD.TO?

On fees, BKCL.TO is cheaper at 1.68% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BKCL.TO or HYLD.TO?

BKCL.TO is cheaper with a 1.68% expense ratio, compared with 2.37% for HYLD.TO.

What is the main difference between BKCL.TO and HYLD.TO?

BKCL.TO is categorized as Financials Equities, while HYLD.TO is Derivative Income. They also come from different issuers: Global X and Hamilton Capital. Their fees differ too: 1.68% for BKCL.TO and 2.37% for HYLD.TO.