CALL.TO vs. HYLD.TO

Last updated Jun 4, 2026

CALL.TO (Evolve US Banks Enhanced Yield Fund Hedged Units) and HYLD.TO (Hamilton Enhanced U.S. Covered Call ETF) are both exchange-traded funds - CALL.TO is a fund fund, while HYLD.TO is a Derivative Income fund actively managed by Hamilton Capital. Over the past 3 years, CALL.TO returned 21.97%/yr vs 23.83%/yr for HYLD.TO. A 0.55 correlation means they provide meaningful diversification when combined.

Performance

CALL.TO vs. HYLD.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Evolve US Banks Enhanced Yield Fund Hedged Units (CALL.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, CALL.TO achieves a 1.20% return, which is significantly lower than HYLD.TO's 15.73% return.

CALL.TO

• 1D: -1.52%
• 1M: -0.55%
• YTD: 1.20%
• 6M: 5.50%
• 1Y: 23.36%
• 3Y*: 21.97%
• 5Y*: 2.20%
• 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)

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

	2026 (YTD)	2025	2024	2023	2022
CALL.TO Evolve US Banks Enhanced Yield Fund Hedged Units	1.20%	17.96%	30.56%	-10.46%	-26.99%
HYLD.TO Hamilton Enhanced U.S. Covered Call ETF	15.73%	22.14%	25.39%	19.01%	-18.85%

Correlation

The correlation between CALL.TO and HYLD.TO is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (All Time) Calculated using the full available price history since Feb 9, 2022	0.55

The correlation between CALL.TO and HYLD.TO shifts across timeframes, from 0.44 (1 year) to 0.55 (all time), reflecting how their relationship changes across market environments.

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

Sectors	CALL.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

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

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

CALL.TO

CALL.TO Risk / Return Rank: 31
CALL.TO Sharpe Ratio Rank: 32
CALL.TO Sortino Ratio Rank: 31
CALL.TO Omega Ratio Rank: 32
CALL.TO Calmar Ratio Rank: 30
CALL.TO Martin Ratio Rank: 28

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.

CALL.TO vs. HYLD.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 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.

	CALL.TO	HYLD.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.16	2.61	-1.44
Sortino ratio: Return per unit of downside risk	1.68	3.52	-1.84
Omega ratio: Gain probability vs. loss probability	1.21	1.47	-0.25
Calmar ratio: Return relative to maximum drawdown	1.47	3.31	-1.84
Martin ratio: Return relative to average drawdown	4.12	14.63	-10.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current CALL.TO Sharpe Ratio is 1.16, which is lower than the HYLD.TO Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of CALL.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

	CALL.TO	HYLD.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.16	2.61	-1.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.08	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	0.69	-0.54

Drawdowns

CALL.TO vs. HYLD.TO - Drawdown Comparison

The maximum CALL.TO drawdown since its inception was -52.03%, which is greater than HYLD.TO's maximum drawdown of -31.38%. Use the drawdown chart below to compare losses from any high point for CALL.TO and HYLD.TO.

Drawdown Indicators

	CALL.TO	HYLD.TO	Difference
Max Drawdown Largest peak-to-trough decline	-52.03%	-31.38%	-20.65%
Max Drawdown (1Y) Largest decline over 1 year	-15.97%	-12.04%	-3.93%
Max Drawdown (3Y) Largest decline over 3 years	-26.25%	-21.83%	-4.42%
Max Drawdown (5Y) Largest decline over 5 years	-52.03%	—	—
Current Drawdown Current decline from peak	-7.39%	0.00%	-7.39%
Average Drawdown Average peak-to-trough decline	-18.35%	-8.91%	-9.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.69%	2.72%	+2.97%

Volatility

CALL.TO vs. HYLD.TO - Volatility Comparison

Evolve US Banks Enhanced Yield Fund Hedged Units (CALL.TO) has a higher volatility of 5.57% compared to Hamilton Enhanced U.S. Covered Call ETF (HYLD.TO) at 4.58%. This indicates that CALL.TO's price experiences larger fluctuations and is considered to be riskier than HYLD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CALL.TO	HYLD.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.57%	4.58%	+0.99%
Volatility (6M) Calculated over the trailing 6-month period	14.88%	12.17%	+2.71%
Volatility (1Y) Calculated over the trailing 1-year period	20.27%	15.31%	+4.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.30%	19.22%	+8.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.06%	19.22%	+9.84%

Dividends

CALL.TO vs. HYLD.TO - Dividend Comparison

CALL.TO's dividend yield for the trailing twelve months is around 11.04%, less than HYLD.TO's 11.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CALL.TO Evolve US Banks Enhanced Yield Fund Hedged Units	11.04%	10.68%	11.24%	13.02%	10.20%	6.87%	8.49%	7.32%	11.55%
HYLD.TO Hamilton Enhanced U.S. Covered Call ETF	11.23%	11.98%	12.13%	12.11%	13.02%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

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

CALL.TO and HYLD.TO have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.