CALL.TO vs. HBIL.TO
CALL.TO (Evolve US Banks Enhanced Yield Fund Hedged Units) and HBIL.TO (Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged)) are both Derivative Income funds. CALL.TO is passively managed, while HBIL.TO is actively managed. Over the past year, CALL.TO returned 20.33% vs 1.99% for HBIL.TO. At a 0.09 correlation, their price movements are largely independent.
Performance
CALL.TO vs. HBIL.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CALL.TO achieves a 10.93% return, which is significantly higher than HBIL.TO's 0.41% return.
CALL.TO
- 1D
- 0.61%
- 1M
- 1.96%
- 6M
- 9.99%
- YTD
- 10.93%
- 1Y
- 20.33%
- 3Y*
- 22.20%
- 5Y*
- 6.13%
- 10Y*
- —
- ALL TIME*
- 5.91%
HBIL.TO
- 1D
- 0.14%
- 1M
- -0.52%
- 6M
- 0.14%
- YTD
- 0.41%
- 1Y
- 1.99%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 1.18%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$110.65K | CA$160.68K | CA$121.83K | |
| CA$300.95K | CA$246.79K | CA$300.15K |
CALL.TO vs. HBIL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CALL.TO Evolve US Banks Enhanced Yield Fund Hedged Units | 10.93% | 17.96% | 12.34% |
HBIL.TO Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged) | 0.41% | 3.04% | -1.22% |
Correlation
The correlation between CALL.TO and HBIL.TO is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2024 | 0.09 |
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Return for Risk
CALL.TO vs. HBIL.TO — Risk / Return Rank
CALL.TO
HBIL.TO
CALL.TO vs. HBIL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Evolve US Banks Enhanced Yield Fund Hedged Units (CALL.TO) and Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged) (HBIL.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.
| CALL.TO | HBIL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.23 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.28 | 2.10 | -0.83 |
| Martin ratioReturn relative to average drawdown | 3.59 | 6.04 | -2.45 |
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Drawdowns
CALL.TO vs. HBIL.TO - Drawdown Comparison
The maximum CALL.TO drawdown since its inception was -52.03%, which is greater than HBIL.TO's maximum drawdown of -1.66%. Use the drawdown chart below to compare losses from any high point for CALL.TO and HBIL.TO.
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Drawdown Indicators
| CALL.TO | HBIL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.03% | -1.66% | -50.37% |
Max Drawdown (1Y)Largest decline over 1 year | -15.97% | -0.95% | -15.02% |
Max Drawdown (3Y)Largest decline over 3 years | -26.25% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -52.03% | — | — |
Current DrawdownCurrent decline from peak | -1.53% | -0.66% | -0.87% |
Average DrawdownAverage peak-to-trough decline | -18.51% | -0.47% | -18.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.69% | 0.33% | +5.36% |
Volatility
CALL.TO vs. HBIL.TO - Volatility Comparison
Evolve US Banks Enhanced Yield Fund Hedged Units (CALL.TO) has a higher volatility of 4.52% compared to Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged) (HBIL.TO) at 0.86%. This indicates that CALL.TO's price experiences larger fluctuations and is considered to be riskier than HBIL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CALL.TO | HBIL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.52% | 0.86% | +3.66% |
Volatility (6M)Calculated over the trailing 6-month period | 14.44% | 1.46% | +12.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.74% | 1.77% | +17.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.95% | 2.06% | +24.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.97% | 2.06% | +26.91% |
Dividends
CALL.TO vs. HBIL.TO - Dividend Comparison
CALL.TO's dividend yield for the trailing twelve months is around 10.16%, more than HBIL.TO's 6.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CALL.TO Evolve US Banks Enhanced Yield Fund Hedged Units | 10.16% | 10.68% | 11.24% | 13.02% | 10.20% | 6.87% | 8.49% | 6.15% | 5.59% | 0.35% |
HBIL.TO Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged) | 6.26% | 7.48% | 2.58% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CALL.TO and HBIL.TO have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Evolve Funds Group Inc. and Hamilton Capital.
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