CWIN.TO vs. TBNK.TO

Last updated Apr 1, 2026

Compare and contrast key facts about HAMILTON CHAMPIONS Enhanced Canadian Dividend ETF Class E Units (CWIN.TO) and TD Canadian Bank Dividend Index ETF (TBNK.TO).

CWIN.TO and TBNK.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CWIN.TO is a passively managed fund by Hamilton that tracks the performance of the Solactive Canada Dividend Elite Champions Index. It was launched on Jan 27, 2025. TBNK.TO is a passively managed fund by TD that tracks the performance of the Solactive Canadian Bank Dividend Index (CA NTR). It was launched on Apr 20, 2023. Both CWIN.TO and TBNK.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

CWIN.TO vs. TBNK.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in HAMILTON CHAMPIONS Enhanced Canadian Dividend ETF Class E Units (CWIN.TO) and TD Canadian Bank Dividend Index ETF (TBNK.TO). The values are adjusted to include any dividend payments, if applicable.

CWIN.TO vs. TBNK.TO - Yearly Performance Comparison

	2026 (YTD)	2025
CWIN.TO HAMILTON CHAMPIONS Enhanced Canadian Dividend ETF Class E Units	7.09%	25.14%
TBNK.TO TD Canadian Bank Dividend Index ETF	2.37%	40.47%

Returns By Period

In the year-to-date period, CWIN.TO achieves a 7.09% return, which is significantly higher than TBNK.TO's 2.37% return.

CWIN.TO

• 1D: 0.05%
• 1M: -5.88%
• YTD: 7.09%
• 6M: 12.26%
• 1Y: 30.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TBNK.TO

• 1D: 2.80%
• 1M: -3.55%
• YTD: 2.37%
• 6M: 15.38%
• 1Y: 50.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CWIN.TO vs. TBNK.TO - Expense Ratio Comparison

CWIN.TO has a 0.65% expense ratio, which is higher than TBNK.TO's 0.28% expense ratio.

CWIN.TO

HAMILTON CHAMPIONS Enhanced Canadian Dividend ETF Class E Units

TBNK.TO

TD Canadian Bank Dividend Index ETF

Return for Risk

CWIN.TO vs. TBNK.TO — Risk / Return Rank

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

CWIN.TO

CWIN.TO Risk / Return Rank: 92
CWIN.TO Sharpe Ratio Rank: 92
CWIN.TO Sortino Ratio Rank: 93
CWIN.TO Omega Ratio Rank: 93
CWIN.TO Calmar Ratio Rank: 89
CWIN.TO Martin Ratio Rank: 93

TBNK.TO

TBNK.TO Risk / Return Rank: 98
TBNK.TO Sharpe Ratio Rank: 98
TBNK.TO Sortino Ratio Rank: 98
TBNK.TO Omega Ratio Rank: 98
TBNK.TO Calmar Ratio Rank: 98
TBNK.TO Martin Ratio Rank: 98

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.

CWIN.TO vs. TBNK.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HAMILTON CHAMPIONS Enhanced Canadian Dividend ETF Class E Units (CWIN.TO) and TD Canadian Bank Dividend Index ETF (TBNK.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.

	CWIN.TO	TBNK.TO	Difference
Sharpe ratio Return per unit of total volatility	2.12	3.70	-1.58
Sortino ratio Return per unit of downside risk	2.80	4.89	-2.09
Omega ratio Gain probability vs. loss probability	1.43	1.71	-0.28
Calmar ratio Return relative to maximum drawdown	2.98	6.15	-3.16
Martin ratio Return relative to average drawdown	14.03	24.06	-10.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CWIN.TO vs. TBNK.TO - Sharpe Ratio Comparison

The current CWIN.TO Sharpe Ratio is 2.12, which is lower than the TBNK.TO Sharpe Ratio of 3.70. The chart below compares the historical Sharpe Ratios of CWIN.TO and TBNK.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CWIN.TO	TBNK.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.12	3.70	-1.58
Sharpe Ratio (All Time) Calculated using the full available price history	2.02	1.97	+0.04

Correlation

The correlation between CWIN.TO and TBNK.TO is 0.55, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

CWIN.TO vs. TBNK.TO - Dividend Comparison

CWIN.TO's dividend yield for the trailing twelve months is around 3.04%, more than TBNK.TO's 2.84% yield.

	TTM	2025	2024	2023
CWIN.TO HAMILTON CHAMPIONS Enhanced Canadian Dividend ETF Class E Units	3.04%	3.21%	0.00%	0.00%
TBNK.TO TD Canadian Bank Dividend Index ETF	2.84%	2.89%	4.03%	3.10%

Drawdowns

CWIN.TO vs. TBNK.TO - Drawdown Comparison

The maximum CWIN.TO drawdown since its inception was -10.87%, smaller than the maximum TBNK.TO drawdown of -15.03%. Use the drawdown chart below to compare losses from any high point for CWIN.TO and TBNK.TO.

Drawdown Indicators

	CWIN.TO	TBNK.TO	Difference
Max Drawdown Largest peak-to-trough decline	-10.87%	-15.03%	+4.16%
Max Drawdown (1Y) Largest decline over 1 year	-10.87%	-8.40%	-2.47%
Current Drawdown Current decline from peak	-6.01%	-5.43%	-0.58%
Average Drawdown Average peak-to-trough decline	-1.40%	-2.54%	+1.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.31%	2.15%	+0.16%

Volatility

CWIN.TO vs. TBNK.TO - Volatility Comparison

The current volatility for HAMILTON CHAMPIONS Enhanced Canadian Dividend ETF Class E Units (CWIN.TO) is 4.75%, while TD Canadian Bank Dividend Index ETF (TBNK.TO) has a volatility of 5.96%. This indicates that CWIN.TO experiences smaller price fluctuations and is considered to be less risky than TBNK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CWIN.TO	TBNK.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.75%	5.96%	-1.21%
Volatility (6M) Calculated over the trailing 6-month period	9.76%	10.19%	-0.43%
Volatility (1Y) Calculated over the trailing 1-year period	14.51%	13.76%	+0.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.17%	12.65%	+1.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.17%	12.65%	+1.52%