DCS.TO vs. HBIL.TO
DCS.TO (Desjardins Canadian Short Term Bond Index ETF) and HBIL.TO (Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged)) are both exchange-traded funds - DCS.TO is a Short-Term Bond fund actively managed by Desjardins, while HBIL.TO is a Derivative Income fund actively managed by Hamilton Capital. Both are actively managed. Over the past year, DCS.TO returned 3.08% vs 2.41% for HBIL.TO. At a 0.33 correlation, their price movements are largely independent.
Performance
DCS.TO vs. HBIL.TO - Performance Comparison
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Returns By Period
In the year-to-date period, DCS.TO achieves a 1.16% return, which is significantly higher than HBIL.TO's 0.55% return.
DCS.TO
- 1D
- 0.10%
- 1M
- -0.06%
- 6M
- 0.84%
- YTD
- 1.16%
- 1Y
- 3.08%
- 3Y*
- 4.74%
- 5Y*
- 2.13%
- 10Y*
- —
HBIL.TO
- 1D
- 0.07%
- 1M
- -0.18%
- 6M
- 0.27%
- YTD
- 0.55%
- 1Y
- 2.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DCS.TO vs. HBIL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
DCS.TO Desjardins Canadian Short Term Bond Index ETF | 1.16% | 3.51% | 1.20% |
HBIL.TO Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged) | 0.55% | 3.04% | -1.22% |
Correlation
The correlation between DCS.TO and HBIL.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 Sep 16, 2024 | 0.33 |
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Return for Risk
DCS.TO vs. HBIL.TO — Risk / Return Rank
DCS.TO
HBIL.TO
DCS.TO vs. HBIL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Desjardins Canadian Short Term Bond Index ETF (DCS.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.
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.
| DCS.TO | HBIL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.29 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.46 | 2.54 | -0.08 |
| Martin ratioReturn relative to average drawdown | 7.99 | 7.69 | +0.30 |
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Drawdowns
DCS.TO vs. HBIL.TO - Drawdown Comparison
The maximum DCS.TO drawdown since its inception was -7.05%, which is greater than HBIL.TO's maximum drawdown of -1.66%. Use the drawdown chart below to compare losses from any high point for DCS.TO and HBIL.TO.
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Drawdown Indicators
| DCS.TO | HBIL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.05% | -1.66% | -5.39% |
Max Drawdown (1Y)Largest decline over 1 year | -1.26% | -0.95% | -0.31% |
Max Drawdown (3Y)Largest decline over 3 years | -1.26% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -6.26% | — | — |
Current DrawdownCurrent decline from peak | -0.21% | -0.52% | +0.31% |
Average DrawdownAverage peak-to-trough decline | -1.44% | -0.47% | -0.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.39% | 0.31% | +0.08% |
Volatility
DCS.TO vs. HBIL.TO - Volatility Comparison
The current volatility for Desjardins Canadian Short Term Bond Index ETF (DCS.TO) is 0.48%, while Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged) (HBIL.TO) has a volatility of 0.83%. This indicates that DCS.TO experiences smaller price fluctuations and is considered to be less risky than HBIL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DCS.TO | HBIL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.48% | 0.83% | -0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 1.42% | 1.45% | -0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.90% | 1.76% | +0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.50% | 2.07% | +0.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.64% | 2.07% | +0.57% |
Dividends
DCS.TO vs. HBIL.TO - Dividend Comparison
DCS.TO's dividend yield for the trailing twelve months is around 2.77%, less than HBIL.TO's 6.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DCS.TO Desjardins Canadian Short Term Bond Index ETF | 2.77% | 2.77% | 2.59% | 2.49% | 2.66% | 2.49% | 2.41% | 2.47% | 2.55% | 1.69% |
HBIL.TO Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged) | 6.25% | 7.48% | 2.58% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DCS.TO and HBIL.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.
DCS.TO is categorized as Short-Term Bond, while HBIL.TO is Derivative Income. They also come from different issuers: Desjardins and Hamilton Capital.
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