CDAY.NEO vs. DXQ.TO
CDAY.NEO (Hamilton Enhanced Canadian Equity DayMAX ETF) and DXQ.TO (Dynamic Active Enhanced Yield Covered Options ETF) are both Derivative Income funds. Both are actively managed. Over the past year, CDAY.NEO returned 36.81% vs 16.09% for DXQ.TO. At a 0.34 correlation, their price movements are largely independent. CDAY.NEO charges 0.85%/yr vs 0.72%/yr for DXQ.TO.
Performance
CDAY.NEO vs. DXQ.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CDAY.NEO achieves a 19.03% return, which is significantly higher than DXQ.TO's 8.37% return.
CDAY.NEO
- 1D
- -0.11%
- 1M
- 2.25%
- 6M
- 14.95%
- YTD
- 19.03%
- 1Y
- 36.81%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DXQ.TO
- 1D
- -0.39%
- 1M
- 0.65%
- 6M
- 6.27%
- YTD
- 8.37%
- 1Y
- 16.09%
- 3Y*
- 16.94%
- 5Y*
- —
- 10Y*
- —
CDAY.NEO vs. DXQ.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CDAY.NEO Hamilton Enhanced Canadian Equity DayMAX ETF | 19.03% | 13.23% |
DXQ.TO Dynamic Active Enhanced Yield Covered Options ETF | 8.37% | 7.51% |
Correlation
The correlation between CDAY.NEO and DXQ.TO is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Jul 15, 2025 | 0.34 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CDAY.NEO vs. DXQ.TO — Risk / Return Rank
CDAY.NEO
DXQ.TO
CDAY.NEO vs. DXQ.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hamilton Enhanced Canadian Equity DayMAX ETF (CDAY.NEO) and Dynamic Active Enhanced Yield Covered Options ETF (DXQ.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.
| CDAY.NEO | DXQ.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.24 | ||
| Sortino ratioReturn per unit of downside risk | +1.45 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.33 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 3.85 | 3.16 | +0.69 |
| Martin ratioReturn relative to average drawdown | 17.39 | 8.70 | +8.69 |
Loading charts...
Drawdowns
CDAY.NEO vs. DXQ.TO - Drawdown Comparison
The maximum CDAY.NEO drawdown since its inception was -9.65%, smaller than the maximum DXQ.TO drawdown of -15.54%. Use the drawdown chart below to compare losses from any high point for CDAY.NEO and DXQ.TO.
Loading charts...
Drawdown Indicators
| CDAY.NEO | DXQ.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.65% | -15.54% | +5.89% |
Max Drawdown (1Y)Largest decline over 1 year | -9.65% | -5.11% | -4.54% |
Max Drawdown (3Y)Largest decline over 3 years | — | -15.54% | — |
Current DrawdownCurrent decline from peak | -0.43% | -0.95% | +0.52% |
Average DrawdownAverage peak-to-trough decline | -1.22% | -1.25% | +0.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.85% | — |
Volatility
CDAY.NEO vs. DXQ.TO - Volatility Comparison
Hamilton Enhanced Canadian Equity DayMAX ETF (CDAY.NEO) and Dynamic Active Enhanced Yield Covered Options ETF (DXQ.TO) have volatilities of 2.53% and 2.47%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CDAY.NEO | DXQ.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.53% | 2.47% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 10.60% | 7.57% | +3.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.57% | 9.29% | +3.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.57% | 10.86% | +1.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.57% | 10.86% | +1.71% |
CDAY.NEO vs. DXQ.TO - Expense Ratio Comparison
CDAY.NEO has a 0.85% expense ratio, which is higher than DXQ.TO's 0.72% expense ratio.
Dividends
CDAY.NEO vs. DXQ.TO - Dividend Comparison
CDAY.NEO's dividend yield for the trailing twelve months is around 14.79%, more than DXQ.TO's 7.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CDAY.NEO Hamilton Enhanced Canadian Equity DayMAX ETF | 14.79% | 7.88% | 0.00% | 0.00% | 0.00% |
DXQ.TO Dynamic Active Enhanced Yield Covered Options ETF | 7.82% | 7.45% | 5.74% | 6.54% | 1.83% |
Frequently Asked Questions
CDAY.NEO and DXQ.TO have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DXQ.TO is cheaper at 0.72% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DXQ.TO is cheaper with a 0.72% expense ratio, compared with 0.85% for CDAY.NEO.
They also come from different issuers: Hamilton Capital and Dynamic. Their fees differ too: 0.85% for CDAY.NEO and 0.72% for DXQ.TO.
Find the right allocation for CDAY.NEO and DXQ.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer