BNKL.TO vs. CBNK.TO
BNKL.TO (Global X Enhanced Equal Weight Banks Index ETF) and CBNK.TO (Mulvihill Canadian Bank Enhanced Yield ETF) are both exchange-traded funds - BNKL.TO is a Financials Equities fund tracking the Solactive Equal Weight Canada Banks Index, while CBNK.TO is a Derivative Income fund actively managed by Mulvihill. BNKL.TO is passively managed, while CBNK.TO is actively managed. Over the past year, BNKL.TO returned 75.00% vs 79.20% for CBNK.TO. A 0.54 correlation means they provide meaningful diversification when combined.
Performance
BNKL.TO vs. CBNK.TO - Performance Comparison
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Returns By Period
In the year-to-date period, BNKL.TO achieves a 20.92% return, which is significantly lower than CBNK.TO's 25.56% return.
BNKL.TO
- 1D
- -0.62%
- 1M
- 4.25%
- YTD
- 20.92%
- 6M
- 28.82%
- 1Y
- 75.00%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CBNK.TO
- 1D
- 0.42%
- 1M
- 7.74%
- YTD
- 25.56%
- 6M
- 32.17%
- 1Y
- 79.20%
- 3Y*
- 38.97%
- 5Y*
- —
- 10Y*
- —
BNKL.TO vs. CBNK.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BNKL.TO Global X Enhanced Equal Weight Banks Index ETF | 20.92% | 55.98% | 29.92% | 9.73% |
CBNK.TO Mulvihill Canadian Bank Enhanced Yield ETF | 25.56% | 51.67% | 27.42% | 7.70% |
Correlation
The correlation between BNKL.TO and CBNK.TO is 0.71, 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 | 0.71 |
Correlation (All Time) Calculated using the full available price history since Jul 10, 2023 | 0.54 |
The correlation between BNKL.TO and CBNK.TO shifts across timeframes, from 0.54 (all time) to 0.71 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BNKL.TO vs. CBNK.TO — Risk / Return Rank
BNKL.TO
CBNK.TO
BNKL.TO vs. CBNK.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 Mulvihill Canadian Bank Enhanced Yield ETF (CBNK.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.
| BNKL.TO | CBNK.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.90 | 1.87 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 7.02 | 7.94 | -0.92 |
| Martin ratioReturn relative to average drawdown | 30.53 | 34.25 | -3.72 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BNKL.TO | CBNK.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 5.00 | 5.12 | -0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.60 | 1.10 | +1.50 |
Drawdowns
BNKL.TO vs. CBNK.TO - Drawdown Comparison
The maximum BNKL.TO drawdown since its inception was -18.58%, smaller than the maximum CBNK.TO drawdown of -32.12%. Use the drawdown chart below to compare losses from any high point for BNKL.TO and CBNK.TO.
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Drawdown Indicators
| BNKL.TO | CBNK.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.58% | -32.12% | +13.54% |
Max Drawdown (1Y)Largest decline over 1 year | -10.79% | -10.03% | -0.76% |
Max Drawdown (3Y)Largest decline over 3 years | — | -17.92% | — |
Current DrawdownCurrent decline from peak | -3.44% | -2.29% | -1.15% |
Average DrawdownAverage peak-to-trough decline | -3.06% | -10.92% | +7.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.47% | 2.32% | +0.15% |
Volatility
BNKL.TO vs. CBNK.TO - Volatility Comparison
The current volatility for Global X Enhanced Equal Weight Banks Index ETF (BNKL.TO) is 4.61%, while Mulvihill Canadian Bank Enhanced Yield ETF (CBNK.TO) has a volatility of 5.67%. This indicates that BNKL.TO experiences smaller price fluctuations and is considered to be less risky than CBNK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BNKL.TO | CBNK.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.61% | 5.67% | -1.06% |
Volatility (6M)Calculated over the trailing 6-month period | 13.18% | 13.29% | -0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.15% | 15.55% | -0.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.83% | 17.55% | -1.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.83% | 17.55% | -1.72% |
Dividends
BNKL.TO vs. CBNK.TO - Dividend Comparison
BNKL.TO's dividend yield for the trailing twelve months is around 2.99%, less than CBNK.TO's 5.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BNKL.TO Global X Enhanced Equal Weight Banks Index ETF | 2.99% | 3.40% | 4.39% | 2.79% | 0.00% |
CBNK.TO Mulvihill Canadian Bank Enhanced Yield ETF | 5.94% | 5.86% | 8.25% | 9.59% | 7.85% |
Frequently Asked Questions
BNKL.TO and CBNK.TO have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BNKL.TO is categorized as Financials Equities, while CBNK.TO is Derivative Income. They also come from different issuers: Global X and Mulvihill.
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