BRK.TO vs. HDIV.TO

Last updated Jun 4, 2026

BRK.TO (Berkshire Hathaway CDR (CAD Hedged)) is a stock, while HDIV.TO (Hamilton Enhanced Canadian Covered Call ETF) is Derivative Income fund actively managed by Hamilton ETFs. Over the past year, BRK.TO returned -6.60% vs 45.50% for HDIV.TO. At a 0.28 correlation, their price movements are largely independent.

Performance

BRK.TO vs. HDIV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Berkshire Hathaway CDR (CAD Hedged) (BRK.TO) and Hamilton Enhanced Canadian Covered Call ETF (HDIV.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BRK.TO achieves a -6.17% return, which is significantly lower than HDIV.TO's 16.21% return.

BRK.TO

• 1D: 0.87%
• 1M: 1.46%
• YTD: -6.17%
• 6M: -6.60%
• 1Y: -6.60%
• 3Y*: —
• 5Y*: —
• 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)

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

	2026 (YTD)	2025
BRK.TO Berkshire Hathaway CDR (CAD Hedged)	-6.17%	3.71%
HDIV.TO Hamilton Enhanced Canadian Covered Call ETF	16.21%	29.12%

Correlation

The correlation between BRK.TO and HDIV.TO is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (All Time) Calculated using the full available price history since Feb 6, 2025	0.28

Return for Risk

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

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

BRK.TO

BRK.TO Risk / Return Rank: 16
BRK.TO Sharpe Ratio Rank: 19
BRK.TO Sortino Ratio Rank: 17
BRK.TO Omega Ratio Rank: 18
BRK.TO Calmar Ratio Rank: 17
BRK.TO Martin Ratio Rank: 10

HDIV.TO

HDIV.TO Risk / Return Rank: 92
HDIV.TO Sharpe Ratio Rank: 94
HDIV.TO Sortino Ratio Rank: 93
HDIV.TO Omega Ratio Rank: 94
HDIV.TO Calmar Ratio Rank: 88
HDIV.TO Martin Ratio Rank: 93

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.

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

This table presents a comparison of risk-adjusted performance metrics for Berkshire Hathaway CDR (CAD Hedged) (BRK.TO) and Hamilton Enhanced Canadian 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.

	BRK.TO	HDIV.TO	Difference
Sharpe ratio: Return per unit of total volatility	-0.49	3.67	-4.16
Sortino ratio: Return per unit of downside risk	-0.60	4.70	-5.30
Omega ratio: Gain probability vs. loss probability	0.93	1.68	-0.75
Calmar ratio: Return relative to maximum drawdown	-0.64	5.24	-5.87
Martin ratio: Return relative to average drawdown	-1.33	25.39	-26.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current BRK.TO Sharpe Ratio is -0.49, which is lower than the HDIV.TO Sharpe Ratio of 3.67. The chart below compares the historical Sharpe Ratios of BRK.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.

Sharpe Ratios by Period

	BRK.TO	HDIV.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.49	3.67	-4.16
Sharpe Ratio (All Time) Calculated using the full available price history	-0.12	1.26	-1.38

Drawdowns

BRK.TO vs. HDIV.TO - Drawdown Comparison

The maximum BRK.TO drawdown since its inception was -15.81%, smaller than the maximum HDIV.TO drawdown of -22.32%. Use the drawdown chart below to compare losses from any high point for BRK.TO and HDIV.TO.

Drawdown Indicators

	BRK.TO	HDIV.TO	Difference
Max Drawdown Largest peak-to-trough decline	-15.81%	-22.32%	+6.51%
Max Drawdown (1Y) Largest decline over 1 year	-10.39%	-8.73%	-1.66%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.58%	—
Current Drawdown Current decline from peak	-14.10%	-0.63%	-13.47%
Average Drawdown Average peak-to-trough decline	-8.92%	-4.22%	-4.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.10%	1.80%	+3.30%

Volatility

BRK.TO vs. HDIV.TO - Volatility Comparison

The current volatility for Berkshire Hathaway CDR (CAD Hedged) (BRK.TO) is 3.32%, while Hamilton Enhanced Canadian Covered Call ETF (HDIV.TO) has a volatility of 3.80%. This indicates that BRK.TO experiences smaller price fluctuations and is considered to be less risky than HDIV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BRK.TO	HDIV.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.32%	3.80%	-0.48%
Volatility (6M) Calculated over the trailing 6-month period	10.14%	10.29%	-0.15%
Volatility (1Y) Calculated over the trailing 1-year period	13.53%	12.47%	+1.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.48%	15.63%	+1.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.48%	15.63%	+1.85%

Dividends

BRK.TO vs. HDIV.TO - Dividend Comparison

BRK.TO has not paid dividends to shareholders, while HDIV.TO's dividend yield for the trailing twelve months is around 9.33%.

Position	TTM	2025	2024	2023	2022	2021
BRK.TO Berkshire Hathaway CDR (CAD Hedged)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HDIV.TO Hamilton Enhanced Canadian Covered Call ETF	9.33%	10.09%	11.38%	10.41%	9.64%	3.39%

Frequently Asked Questions

Can I hold both BRK.TO and HDIV.TO in my portfolio?

BRK.TO and HDIV.TO have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.