BNKL.TO vs. BANK.TO

Last updated Jul 14, 2026

BNKL.TO (Global X Enhanced Equal Weight Banks Index ETF) and BANK.TO (Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund) are both exchange-traded funds - BNKL.TO is a Financials Equities fund tracking the Solactive Equal Weight Canada Banks Index, while BANK.TO is a Derivative Income fund tracking the Solactive Canadian Core Financials Equal Weight Index. Both are passively managed. Over the past 3 years, BNKL.TO returned 45.31%/yr vs 35.74%/yr for BANK.TO. A 0.54 correlation means they provide meaningful diversification when combined. BNKL.TO charges 1.33%/yr vs 0.60%/yr for BANK.TO.

Performance

BNKL.TO vs. BANK.TO - Performance Comparison

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

Returns By Period

In the year-to-date period, BNKL.TO achieves a 41.88% return, which is significantly higher than BANK.TO's 30.92% return.

BNKL.TO

• 1D: 1.01%
• 1M: 9.85%
• 6M: 40.22%
• YTD: 41.88%
• 1Y: 92.78%
• 3Y*: 45.31%
• 5Y*: —
• 10Y*: —

BANK.TO

• 1D: -0.67%
• 1M: 5.91%
• 6M: 28.92%
• YTD: 30.92%
• 1Y: 67.41%
• 3Y*: 35.74%
• 5Y*: —
• 10Y*: —

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

BNKL.TO vs. BANK.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BNKL.TO Global X Enhanced Equal Weight Banks Index ETF	41.88%	55.98%	29.92%	7.40%
BANK.TO Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund	30.92%	41.00%	27.90%	6.35%

Correlation

The correlation between BNKL.TO and BANK.TO is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (All Time) Calculated using the full available price history since Jul 14, 2023	0.54

The correlation between BNKL.TO and BANK.TO shifts across timeframes, from 0.54 (3 years) to 0.68 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

BNKL.TO vs. BANK.TO — Risk / Return Rank

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

BNKL.TO

BNKL.TO Risk / Return Rank: 98
BNKL.TO Sharpe Ratio Rank: 99
BNKL.TO Sortino Ratio Rank: 98
BNKL.TO Omega Ratio Rank: 98
BNKL.TO Calmar Ratio Rank: 97
BNKL.TO Martin Ratio Rank: 97

BANK.TO

BANK.TO Risk / Return Rank: 98
BANK.TO Sharpe Ratio Rank: 99
BANK.TO Sortino Ratio Rank: 98
BANK.TO Omega Ratio Rank: 98
BANK.TO Calmar Ratio Rank: 97
BANK.TO Martin Ratio Rank: 97

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.

BNKL.TO vs. BANK.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Enhanced Equal Weight Banks Index ETF (BNKL.TO) and Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.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.

	BNKL.TO	BANK.TO	Difference
Sharpe ratio: Return per unit of total volatility	5.88	5.38	+0.50
Sortino ratio: Return per unit of downside risk	7.44	7.11	+0.33
Omega ratio: Gain probability vs. loss probability	2.02	1.98	+0.04
Calmar ratio: Return relative to maximum drawdown	8.65	8.19	+0.46
Martin ratio: Return relative to average drawdown	37.46	36.18	+1.28

BNKL.TO vs. BANK.TO - Sharpe Ratio Comparison

The current BNKL.TO Sharpe Ratio is 5.88, which is comparable to the BANK.TO Sharpe Ratio of 5.38. The chart below compares the historical Sharpe Ratios of BNKL.TO and BANK.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

BNKL.TO vs. BANK.TO - Drawdown Comparison

The maximum BNKL.TO drawdown since its inception was -18.58%, smaller than the maximum BANK.TO drawdown of -29.03%. Use the drawdown chart below to compare losses from any high point for BNKL.TO and BANK.TO.

Drawdown Indicators

	BNKL.TO	BANK.TO	Difference
Max Drawdown Largest peak-to-trough decline	-18.58%	-29.03%	+10.45%
Max Drawdown (1Y) Largest decline over 1 year	-10.79%	-8.27%	-2.52%
Max Drawdown (3Y) Largest decline over 3 years	-18.58%	-15.49%	-3.09%
Current Drawdown Current decline from peak	0.00%	-0.67%	+0.67%
Average Drawdown Average peak-to-trough decline	-2.96%	-8.60%	+5.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.49%	1.87%	+0.62%

Volatility

BNKL.TO vs. BANK.TO - Volatility Comparison

Global X Enhanced Equal Weight Banks Index ETF (BNKL.TO) has a higher volatility of 4.82% compared to Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.TO) at 3.73%. This indicates that BNKL.TO's price experiences larger fluctuations and is considered to be riskier than BANK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BNKL.TO	BANK.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.82%	3.73%	+1.09%
Volatility (6M) Calculated over the trailing 6-month period	13.49%	10.92%	+2.57%
Volatility (1Y) Calculated over the trailing 1-year period	15.91%	12.62%	+3.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.81%	15.62%	+0.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.81%	15.62%	+0.19%

BNKL.TO vs. BANK.TO - Expense Ratio Comparison

BNKL.TO has a 1.33% expense ratio, which is higher than BANK.TO's 0.60% expense ratio.

Dividends

BNKL.TO vs. BANK.TO - Dividend Comparison

BNKL.TO's dividend yield for the trailing twelve months is around 2.58%, less than BANK.TO's 11.99% yield.

Position	TTM	2025	2024	2023	2022
BANK.TO Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund	11.99%	13.73%	15.28%	13.60%	10.52%
BNKL.TO Global X Enhanced Equal Weight Banks Index ETF	2.58%	3.40%	4.39%	2.79%	0.00%

Frequently Asked Questions

Can I hold both BNKL.TO and BANK.TO in my portfolio?

BNKL.TO and BANK.TO have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BNKL.TO or BANK.TO?

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.

Which ETF is cheaper, BNKL.TO or BANK.TO?

BANK.TO is cheaper with a 0.60% expense ratio, compared with 1.33% for BNKL.TO.

What is the main difference between BNKL.TO and BANK.TO?

BNKL.TO is categorized as Financials Equities, while BANK.TO is Derivative Income. BNKL.TO tracks Solactive Equal Weight Canada Banks Index, while BANK.TO tracks Solactive Canadian Core Financials Equal Weight Index. They also come from different issuers: Global X and Evolve. Their fees differ too: 1.33% for BNKL.TO and 0.60% for BANK.TO.