DF.TO vs. HDIV.TO

Last updated Jun 4, 2026

DF.TO (Dividend 15 Split Corp. II) 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, DF.TO returned 44.42%/yr vs 27.58%/yr for HDIV.TO. A 0.64 correlation means they provide meaningful diversification when combined.

Performance

DF.TO vs. HDIV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Dividend 15 Split Corp. II (DF.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, DF.TO achieves a 18.97% return, which is significantly higher than HDIV.TO's 16.21% return.

DF.TO

• 1D: -0.24%
• 1M: 5.92%
• YTD: 18.97%
• 6M: 27.07%
• 1Y: 62.57%
• 3Y*: 44.42%
• 5Y*: 18.57%
• 10Y*: 14.58%

HDIV.TO

• 1D: -0.26%
• 1M: 6.14%
• YTD: 16.21%
• 6M: 17.63%
• 1Y: 45.50%
• 3Y*: 27.58%
• 5Y*: —
• 10Y*: —

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

DF.TO vs. HDIV.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DF.TO Dividend 15 Split Corp. II	18.97%	47.92%	74.13%	4.68%	-33.33%	11.01%
HDIV.TO Hamilton Enhanced Canadian Covered Call ETF	16.21%	33.87%	23.15%	13.91%	-2.52%	12.70%

Correlation

The correlation between DF.TO and HDIV.TO is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (All Time) Calculated using the full available price history since Jul 19, 2021	0.64

The correlation between DF.TO and HDIV.TO shifts across timeframes, from 0.54 (1 year) to 0.66 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

DF.TO vs. HDIV.TO — Risk / Return Rank

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

DF.TO

DF.TO Risk / Return Rank: 96
DF.TO Sharpe Ratio Rank: 97
DF.TO Sortino Ratio Rank: 96
DF.TO Omega Ratio Rank: 98
DF.TO Calmar Ratio Rank: 91
DF.TO Martin Ratio Rank: 97

HDIV.TO

HDIV.TO Risk / Return Rank: 92
HDIV.TO Sharpe Ratio Rank: 94
HDIV.TO Sortino Ratio Rank: 93
HDIV.TO Omega Ratio Rank: 94
HDIV.TO Calmar Ratio Rank: 88
HDIV.TO Martin Ratio Rank: 93

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.

DF.TO vs. HDIV.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dividend 15 Split Corp. II (DF.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.

	DF.TO	HDIV.TO	Difference
Sharpe ratio: Return per unit of total volatility	3.88	3.67	+0.21
Sortino ratio: Return per unit of downside risk	4.34	4.70	-0.37
Omega ratio: Gain probability vs. loss probability	1.89	1.68	+0.21
Calmar ratio: Return relative to maximum drawdown	4.93	5.24	-0.30
Martin ratio: Return relative to average drawdown	27.68	25.39	+2.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DF.TO vs. HDIV.TO - Sharpe Ratio Comparison

The current DF.TO Sharpe Ratio is 3.88, which is comparable to the HDIV.TO Sharpe Ratio of 3.67. The chart below compares the historical Sharpe Ratios of DF.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

	DF.TO	HDIV.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.88	3.67	+0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.00	1.26	-1.26

Drawdowns

DF.TO vs. HDIV.TO - Drawdown Comparison

The maximum DF.TO drawdown since its inception was -83.79%, 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 DF.TO and HDIV.TO.

Drawdown Indicators

	DF.TO	HDIV.TO	Difference
Max Drawdown Largest peak-to-trough decline	-83.79%	-22.32%	-61.47%
Max Drawdown (1Y) Largest decline over 1 year	-12.75%	-8.73%	-4.02%
Max Drawdown (3Y) Largest decline over 3 years	-45.54%	-14.58%	-30.96%
Max Drawdown (5Y) Largest decline over 5 years	-64.69%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-69.77%	—	—
Current Drawdown Current decline from peak	-1.76%	-0.63%	-1.13%
Average Drawdown Average peak-to-trough decline	-22.77%	-4.22%	-18.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.27%	1.80%	+0.47%

Volatility

DF.TO vs. HDIV.TO - Volatility Comparison

The current volatility for Dividend 15 Split Corp. II (DF.TO) is 3.39%, while Hamilton Enhanced Canadian Covered Call ETF (HDIV.TO) has a volatility of 3.80%. This indicates that DF.TO experiences smaller price fluctuations and is considered to be less risky than HDIV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DF.TO	HDIV.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.39%	3.80%	-0.41%
Volatility (6M) Calculated over the trailing 6-month period	15.03%	10.29%	+4.74%
Volatility (1Y) Calculated over the trailing 1-year period	16.22%	12.47%	+3.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.88%	15.63%	+16.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.50%	15.63%	+20.87%

Dividends

DF.TO vs. HDIV.TO - Dividend Comparison

DF.TO's dividend yield for the trailing twelve months is around 14.46%, more than HDIV.TO's 9.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DF.TO Dividend 15 Split Corp. II	14.46%	16.15%	13.16%	0.00%	12.99%	14.42%	10.20%	11.79%	8.70%	13.64%	13.72%	19.47%
HDIV.TO Hamilton Enhanced Canadian Covered Call ETF	9.33%	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 DF.TO and HDIV.TO in my portfolio?

DF.TO and HDIV.TO have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.