CHE-UN.TO vs. HDIV.TO

Last updated Jun 5, 2026

CHE-UN.TO (Chemtrade Logistics Income Fund) is a stock, while HDIV.TO (Hamilton Enhanced Canadian Covered Call ETF) is Derivative Income fund actively managed by Hamilton ETFs. Over the past 3 years, CHE-UN.TO returned 33.16%/yr vs 28.06%/yr for HDIV.TO. At a 0.45 correlation, their price movements are largely independent.

Performance

CHE-UN.TO vs. HDIV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Chemtrade Logistics Income Fund (CHE-UN.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, CHE-UN.TO achieves a 15.34% return, which is significantly lower than HDIV.TO's 17.22% return.

CHE-UN.TO

• 1D: 1.33%
• 1M: -4.56%
• YTD: 15.34%
• 6M: 21.31%
• 1Y: 58.29%
• 3Y*: 33.16%
• 5Y*: 25.74%
• 10Y*: 7.48%

HDIV.TO

• 1D: 0.86%
• 1M: 6.14%
• YTD: 17.22%
• 6M: 17.73%
• 1Y: 47.51%
• 3Y*: 28.06%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CHE-UN.TO vs. HDIV.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CHE-UN.TO Chemtrade Logistics Income Fund	15.34%	43.14%	37.53%	1.90%	30.66%	19.90%
HDIV.TO Hamilton Enhanced Canadian Covered Call ETF	17.22%	33.87%	23.15%	13.91%	-2.52%	12.70%

Correlation

The correlation between CHE-UN.TO and HDIV.TO is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (All Time) Calculated using the full available price history since Jul 19, 2021	0.45

The correlation between CHE-UN.TO and HDIV.TO shifts across timeframes, from 0.27 (1 year) to 0.45 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CHE-UN.TO vs. HDIV.TO — Risk / Return Rank

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

CHE-UN.TO

CHE-UN.TO Risk / Return Rank: 85
CHE-UN.TO Sharpe Ratio Rank: 86
CHE-UN.TO Sortino Ratio Rank: 77
CHE-UN.TO Omega Ratio Rank: 89
CHE-UN.TO Calmar Ratio Rank: 84
CHE-UN.TO Martin Ratio Rank: 90

HDIV.TO

HDIV.TO Risk / Return Rank: 93
HDIV.TO Sharpe Ratio Rank: 95
HDIV.TO Sortino Ratio Rank: 94
HDIV.TO Omega Ratio Rank: 95
HDIV.TO Calmar Ratio Rank: 90
HDIV.TO Martin Ratio Rank: 94

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.

CHE-UN.TO vs. HDIV.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Chemtrade Logistics Income Fund (CHE-UN.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.

	CHE-UN.TO	HDIV.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.79	3.83	-2.04
Sortino ratio: Return per unit of downside risk	2.09	4.88	-2.79
Omega ratio: Gain probability vs. loss probability	1.42	1.71	-0.29
Calmar ratio: Return relative to maximum drawdown	3.19	5.47	-2.28
Martin ratio: Return relative to average drawdown	12.49	26.51	-14.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CHE-UN.TO vs. HDIV.TO - Sharpe Ratio Comparison

The current CHE-UN.TO Sharpe Ratio is 1.79, which is lower than the HDIV.TO Sharpe Ratio of 3.83. The chart below compares the historical Sharpe Ratios of CHE-UN.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

	CHE-UN.TO	HDIV.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.79	3.83	-2.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.89	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.22	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	1.27	-0.90

Drawdowns

CHE-UN.TO vs. HDIV.TO - Drawdown Comparison

The maximum CHE-UN.TO drawdown since its inception was -77.56%, which is greater than HDIV.TO's maximum drawdown of -22.32%. Use the drawdown chart below to compare losses from any high point for CHE-UN.TO and HDIV.TO.

Drawdown Indicators

	CHE-UN.TO	HDIV.TO	Difference
Max Drawdown Largest peak-to-trough decline	-77.56%	-22.32%	-55.24%
Max Drawdown (1Y) Largest decline over 1 year	-18.36%	-8.73%	-9.63%
Max Drawdown (3Y) Largest decline over 3 years	-26.10%	-14.58%	-11.52%
Max Drawdown (5Y) Largest decline over 5 years	-28.06%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-77.56%	—	—
Current Drawdown Current decline from peak	-8.92%	0.00%	-8.92%
Average Drawdown Average peak-to-trough decline	-19.19%	-4.22%	-14.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.68%	1.80%	+2.88%

Volatility

CHE-UN.TO vs. HDIV.TO - Volatility Comparison

Chemtrade Logistics Income Fund (CHE-UN.TO) has a higher volatility of 13.00% compared to Hamilton Enhanced Canadian Covered Call ETF (HDIV.TO) at 3.80%. This indicates that CHE-UN.TO's price experiences larger fluctuations and is considered to be riskier than HDIV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CHE-UN.TO	HDIV.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.00%	3.80%	+9.20%
Volatility (6M) Calculated over the trailing 6-month period	29.66%	10.31%	+19.35%
Volatility (1Y) Calculated over the trailing 1-year period	32.73%	12.49%	+20.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.04%	15.63%	+13.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.79%	15.63%	+19.16%

Dividends

CHE-UN.TO vs. HDIV.TO - Dividend Comparison

CHE-UN.TO's dividend yield for the trailing twelve months is around 4.21%, less than HDIV.TO's 9.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CHE-UN.TO Chemtrade Logistics Income Fund	4.21%	4.68%	6.03%	7.04%	6.69%	8.11%	12.01%	10.88%	11.45%	6.19%	6.34%	6.72%
HDIV.TO Hamilton Enhanced Canadian Covered Call ETF	9.25%	10.09%	11.38%	10.41%	9.64%	3.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CHE-UN.TO and HDIV.TO in my portfolio?

CHE-UN.TO and HDIV.TO have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.