CIC.TO vs. HPYB.TO

Last updated Jul 14, 2026

CIC.TO (CI Canadian Banks Covered Call Income Class ETF) and HPYB.TO (Harvest Premium Yield Canadian Bank ETF) are both exchange-traded funds - CIC.TO is a Financials Equities fund actively managed by CI, while HPYB.TO is a Derivative Income fund actively managed by Harvest. Both are actively managed. Their correlation of 0.90 suggests significant overlap in exposure.

Performance

CIC.TO vs. HPYB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI Canadian Banks Covered Call Income Class ETF (CIC.TO) and Harvest Premium Yield Canadian Bank ETF (HPYB.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CIC.TO

• 1D: -0.10%
• 1M: 5.44%
• 6M: 26.10%
• YTD: 27.57%
• 1Y: 57.42%
• 3Y*: 29.59%
• 5Y*: 16.56%
• 10Y*: 13.70%

HPYB.TO

• 1D: -0.08%
• 1M: 3.60%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CIC.TO vs. HPYB.TO - Yearly Performance Comparison

	2026 (YTD)
CIC.TO CI Canadian Banks Covered Call Income Class ETF	27.40%
HPYB.TO Harvest Premium Yield Canadian Bank ETF	17.25%

Correlation

The correlation between CIC.TO and HPYB.TO is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 21, 2026	0.90

Return for Risk

CIC.TO vs. HPYB.TO — Risk / Return Rank

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

CIC.TO

CIC.TO Risk / Return Rank: 97
CIC.TO Sharpe Ratio Rank: 98
CIC.TO Sortino Ratio Rank: 98
CIC.TO Omega Ratio Rank: 98
CIC.TO Calmar Ratio Rank: 96
CIC.TO Martin Ratio Rank: 97

HPYB.TO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

CIC.TO vs. HPYB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CI Canadian Banks Covered Call Income Class ETF (CIC.TO) and Harvest Premium Yield Canadian Bank ETF (HPYB.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.

	CIC.TO	HPYB.TO	Difference
Sharpe ratio: Return per unit of total volatility	4.88	—	—
Sortino ratio: Return per unit of downside risk	6.52	—	—
Omega ratio: Gain probability vs. loss probability	1.91	—	—
Calmar ratio: Return relative to maximum drawdown	7.01	—	—
Martin ratio: Return relative to average drawdown	32.73	—	—

Drawdowns

CIC.TO vs. HPYB.TO - Drawdown Comparison

The maximum CIC.TO drawdown since its inception was -38.55%, which is greater than HPYB.TO's maximum drawdown of -6.37%. Use the drawdown chart below to compare losses from any high point for CIC.TO and HPYB.TO.

Drawdown Indicators

	CIC.TO	HPYB.TO	Difference
Max Drawdown Largest peak-to-trough decline	-38.55%	-6.37%	-32.18%
Max Drawdown (1Y) Largest decline over 1 year	-8.23%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-14.32%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.34%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-38.55%	—	—
Current Drawdown Current decline from peak	-0.10%	-0.08%	-0.02%
Average Drawdown Average peak-to-trough decline	-5.46%	-1.11%	-4.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.76%	—	—

Volatility

Volatility by Period

	CIC.TO	HPYB.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.75%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.24%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	11.85%	11.92%	-0.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.85%	11.92%	+0.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.29%	11.92%	+4.37%

Dividends

CIC.TO vs. HPYB.TO - Dividend Comparison

CIC.TO's dividend yield for the trailing twelve months is around 4.89%, less than HPYB.TO's 5.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CIC.TO CI Canadian Banks Covered Call Income Class ETF	4.89%	5.17%	6.71%	7.37%	7.64%	5.48%	9.56%	6.16%	6.61%	5.68%	6.72%	7.31%
HPYB.TO Harvest Premium Yield Canadian Bank ETF	5.83%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CIC.TO and HPYB.TO in my portfolio?

CIC.TO and HPYB.TO have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between CIC.TO and HPYB.TO?

CIC.TO is categorized as Financials Equities, while HPYB.TO is Derivative Income. They also come from different issuers: CI and Harvest.