CNQE.TO vs. HBIL.TO

Last updated Apr 14, 2026

CNQE.TO (Harvest CNQ Enhanced High Income Shares ETF) and HBIL.TO (Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged)) are both Derivative Income funds. Both are actively managed. At -0.17, they often move in opposite directions. CNQE.TO charges 0.40%/yr vs 0.35%/yr for HBIL.TO.

Performance

CNQE.TO vs. HBIL.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Harvest CNQ Enhanced High Income Shares ETF (CNQE.TO) and Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged) (HBIL.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CNQE.TO achieves a 38.03% return, which is significantly higher than HBIL.TO's 0.53% return.

CNQE.TO

• 1D: 2.32%
• 1M: -2.57%
• YTD: 38.03%
• 6M: 46.45%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HBIL.TO

• 1D: 0.07%
• 1M: 0.38%
• YTD: 0.53%
• 6M: 0.57%
• 1Y: 2.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CNQE.TO vs. HBIL.TO - Yearly Performance Comparison

	2026 (YTD)	2025
CNQE.TO Harvest CNQ Enhanced High Income Shares ETF	38.03%	13.80%
HBIL.TO Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged)	0.53%	1.22%

Correlation

The correlation between CNQE.TO and HBIL.TO is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management — when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 22, 2025	-0.17

Return for Risk

CNQE.TO vs. HBIL.TO — Risk / Return Rank

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

HBIL.TO

HBIL.TO Risk / Return Rank: 40
HBIL.TO Sharpe Ratio Rank: 34
HBIL.TO Sortino Ratio Rank: 38
HBIL.TO Omega Ratio Rank: 37
HBIL.TO Calmar Ratio Rank: 47
HBIL.TO Martin Ratio Rank: 42

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.

CNQE.TO vs. HBIL.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harvest CNQ Enhanced High Income Shares ETF (CNQE.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.

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

Sharpe Ratios by Period

	CNQE.TO	HBIL.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.65	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.39	0.67	+2.72

Drawdowns

CNQE.TO vs. HBIL.TO - Drawdown Comparison

The maximum CNQE.TO drawdown since its inception was -12.39%, which is greater than HBIL.TO's maximum drawdown of -1.69%. Use the drawdown chart below to compare losses from any high point for CNQE.TO and HBIL.TO.

Drawdown Indicators

	CNQE.TO	HBIL.TO	Difference
Max Drawdown Largest peak-to-trough decline	-12.39%	-1.69%	-10.70%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.98%	—
Current Drawdown Current decline from peak	-6.97%	-0.37%	-6.60%
Average Drawdown Average peak-to-trough decline	-2.63%	-0.48%	-2.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.31%	—

Volatility

Volatility by Period

	CNQE.TO	HBIL.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.71%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.13%	—
Volatility (1Y) Calculated over the trailing 1-year period	31.20%	1.71%	+29.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.20%	2.04%	+29.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.20%	2.04%	+29.16%

CNQE.TO vs. HBIL.TO - Expense Ratio Comparison

CNQE.TO has a 0.40% expense ratio, which is higher than HBIL.TO's 0.35% expense ratio.

Dividends

CNQE.TO vs. HBIL.TO - Dividend Comparison

CNQE.TO's dividend yield for the trailing twelve months is around 6.52%, less than HBIL.TO's 7.03% yield.

	TTM	2025	2024
CNQE.TO Harvest CNQ Enhanced High Income Shares ETF	6.52%	4.42%	0.00%
HBIL.TO Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged)	7.03%	7.49%	2.58%