DXQ.TO vs. CBNK.TO
DXQ.TO (Dynamic Active Enhanced Yield Covered Options ETF) and CBNK.TO (Mulvihill Canadian Bank Enhanced Yield ETF) are both Derivative Income funds. Both are actively managed. Over the past 3 years, DXQ.TO returned 17.27%/yr vs 38.97%/yr for CBNK.TO. At a 0.33 correlation, their price movements are largely independent.
Performance
DXQ.TO vs. CBNK.TO - Performance Comparison
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Returns By Period
In the year-to-date period, DXQ.TO achieves a 6.80% return, which is significantly lower than CBNK.TO's 25.56% return.
DXQ.TO
- 1D
- -0.70%
- 1M
- 2.65%
- YTD
- 6.80%
- 6M
- 5.77%
- 1Y
- 19.04%
- 3Y*
- 17.27%
- 5Y*
- —
- 10Y*
- —
CBNK.TO
- 1D
- 0.42%
- 1M
- 7.74%
- YTD
- 25.56%
- 6M
- 32.17%
- 1Y
- 79.20%
- 3Y*
- 38.97%
- 5Y*
- —
- 10Y*
- —
DXQ.TO vs. CBNK.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DXQ.TO Dynamic Active Enhanced Yield Covered Options ETF | 6.80% | 12.99% | 21.07% | 20.08% | 3.57% |
CBNK.TO Mulvihill Canadian Bank Enhanced Yield ETF | 25.56% | 51.67% | 27.42% | 8.42% | -3.34% |
Correlation
The correlation between DXQ.TO and CBNK.TO is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Sep 21, 2022 | 0.33 |
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Return for Risk
DXQ.TO vs. CBNK.TO — Risk / Return Rank
DXQ.TO
CBNK.TO
DXQ.TO vs. CBNK.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dynamic Active Enhanced Yield Covered Options ETF (DXQ.TO) and Mulvihill Canadian Bank Enhanced Yield ETF (CBNK.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.
| DXQ.TO | CBNK.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.04 | ||
| Sortino ratioReturn per unit of downside risk | -3.82 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.87 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | 3.74 | 7.94 | -4.20 |
| Martin ratioReturn relative to average drawdown | 10.46 | 34.25 | -23.79 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DXQ.TO | CBNK.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.08 | 5.12 | -3.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.61 | 1.10 | +0.51 |
Drawdowns
DXQ.TO vs. CBNK.TO - Drawdown Comparison
The maximum DXQ.TO drawdown since its inception was -15.54%, smaller than the maximum CBNK.TO drawdown of -32.12%. Use the drawdown chart below to compare losses from any high point for DXQ.TO and CBNK.TO.
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Drawdown Indicators
| DXQ.TO | CBNK.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.54% | -32.12% | +16.58% |
Max Drawdown (1Y)Largest decline over 1 year | -5.11% | -10.03% | +4.92% |
Max Drawdown (3Y)Largest decline over 3 years | -15.54% | -17.92% | +2.38% |
Current DrawdownCurrent decline from peak | -0.70% | -2.29% | +1.59% |
Average DrawdownAverage peak-to-trough decline | -1.27% | -10.92% | +9.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.82% | 2.32% | -0.50% |
Volatility
DXQ.TO vs. CBNK.TO - Volatility Comparison
The current volatility for Dynamic Active Enhanced Yield Covered Options ETF (DXQ.TO) is 2.38%, while Mulvihill Canadian Bank Enhanced Yield ETF (CBNK.TO) has a volatility of 5.67%. This indicates that DXQ.TO experiences smaller price fluctuations and is considered to be less risky than CBNK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DXQ.TO | CBNK.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.38% | 5.67% | -3.29% |
Volatility (6M)Calculated over the trailing 6-month period | 7.14% | 13.29% | -6.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.21% | 15.55% | -6.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.92% | 17.55% | -6.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.92% | 17.55% | -6.63% |
Dividends
DXQ.TO vs. CBNK.TO - Dividend Comparison
DXQ.TO's dividend yield for the trailing twelve months is around 7.77%, more than CBNK.TO's 5.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CBNK.TO Mulvihill Canadian Bank Enhanced Yield ETF | 5.94% | 5.86% | 8.25% | 9.59% | 7.85% |
DXQ.TO Dynamic Active Enhanced Yield Covered Options ETF | 7.77% | 7.45% | 5.74% | 6.54% | 1.83% |
Frequently Asked Questions
DXQ.TO and CBNK.TO have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Dynamic and Mulvihill.
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