EIT-UN.TO vs. BANK.TO

Last updated Jun 13, 2026

EIT-UN.TO (Canoe EIT Income Fund) and BANK.TO (Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund) are both funds - EIT-UN.TO is a Diversified Portfolio fund actively managed by Canoe, while BANK.TO is a Derivative Income fund tracking the Solactive Canadian Core Financials Equal Weight Index. EIT-UN.TO is actively managed, while BANK.TO is passively managed. Over the past 3 years, EIT-UN.TO returned 20.71%/yr vs 34.20%/yr for BANK.TO. A 0.56 correlation means they provide meaningful diversification when combined. EIT-UN.TO charges 1.10%/yr vs 0.60%/yr for BANK.TO.

Performance

EIT-UN.TO vs. BANK.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Canoe EIT Income Fund (EIT-UN.TO) and Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EIT-UN.TO achieves a 14.30% return, which is significantly lower than BANK.TO's 23.62% return.

EIT-UN.TO

• 1D: 0.58%
• 1M: 1.74%
• YTD: 14.30%
• 6M: 14.60%
• 1Y: 20.74%
• 3Y*: 20.71%
• 5Y*: 16.85%
• 10Y*: 15.91%

BANK.TO

• 1D: 1.08%
• 1M: 8.67%
• YTD: 23.62%
• 6M: 25.01%
• 1Y: 64.23%
• 3Y*: 34.20%
• 5Y*: —
• 10Y*: —

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

EIT-UN.TO vs. BANK.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
EIT-UN.TO Canoe EIT Income Fund	14.30%	11.81%	27.99%	5.94%	9.09%
BANK.TO Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund	23.62%	41.00%	27.90%	16.23%	-20.47%

Correlation

The correlation between EIT-UN.TO and BANK.TO is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (All Time) Calculated using the full available price history since Feb 2, 2022	0.56

The correlation between EIT-UN.TO and BANK.TO has been stable across timeframes, ranging from 0.50 to 0.56 - a consistent structural relationship.

Return for Risk

EIT-UN.TO vs. BANK.TO — Risk / Return Rank

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

EIT-UN.TO

EIT-UN.TO Risk / Return Rank: 84
EIT-UN.TO Sharpe Ratio Rank: 84
EIT-UN.TO Sortino Ratio Rank: 85
EIT-UN.TO Omega Ratio Rank: 80
EIT-UN.TO Calmar Ratio Rank: 86
EIT-UN.TO Martin Ratio Rank: 86

BANK.TO

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

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.

EIT-UN.TO vs. BANK.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Canoe EIT Income Fund (EIT-UN.TO) and Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.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.

	EIT-UN.TO	BANK.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.34	5.20	-2.86
Sortino ratio: Return per unit of downside risk	3.53	7.03	-3.50
Omega ratio: Gain probability vs. loss probability	1.43	1.97	-0.53
Calmar ratio: Return relative to maximum drawdown	3.49	7.70	-4.22
Martin ratio: Return relative to average drawdown	13.34	34.12	-20.78

EIT-UN.TO vs. BANK.TO - Sharpe Ratio Comparison

The current EIT-UN.TO Sharpe Ratio is 2.34, which is lower than the BANK.TO Sharpe Ratio of 5.20. The chart below compares the historical Sharpe Ratios of EIT-UN.TO and BANK.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.

Drawdowns

EIT-UN.TO vs. BANK.TO - Drawdown Comparison

The maximum EIT-UN.TO drawdown since its inception was -63.56%, which is greater than BANK.TO's maximum drawdown of -29.03%. Use the drawdown chart below to compare losses from any high point for EIT-UN.TO and BANK.TO.

Drawdown Indicators

	EIT-UN.TO	BANK.TO	Difference
Max Drawdown Largest peak-to-trough decline	-63.56%	-29.03%	-34.53%
Max Drawdown (1Y) Largest decline over 1 year	-5.93%	-8.27%	+2.34%
Max Drawdown (3Y) Largest decline over 3 years	-9.45%	-15.49%	+6.04%
Max Drawdown (5Y) Largest decline over 5 years	-15.57%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-50.36%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-8.81%	-8.75%	-0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.55%	1.86%	-0.31%

Volatility

EIT-UN.TO vs. BANK.TO - Volatility Comparison

The current volatility for Canoe EIT Income Fund (EIT-UN.TO) is 2.54%, while Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.TO) has a volatility of 4.04%. This indicates that EIT-UN.TO experiences smaller price fluctuations and is considered to be less risky than BANK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EIT-UN.TO	BANK.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.54%	4.04%	-1.50%
Volatility (6M) Calculated over the trailing 6-month period	7.54%	10.58%	-3.04%
Volatility (1Y) Calculated over the trailing 1-year period	8.83%	12.25%	-3.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.21%	15.66%	-3.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.52%	15.66%	+1.86%

EIT-UN.TO vs. BANK.TO - Expense Ratio Comparison

EIT-UN.TO has a 1.10% expense ratio, which is higher than BANK.TO's 0.60% expense ratio.

Dividends

EIT-UN.TO vs. BANK.TO - Dividend Comparison

EIT-UN.TO's dividend yield for the trailing twelve months is around 6.88%, less than BANK.TO's 12.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BANK.TO Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund	12.36%	13.73%	15.28%	13.60%	10.52%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EIT-UN.TO Canoe EIT Income Fund	6.88%	7.64%	7.90%	9.29%	8.97%	9.08%	12.20%	11.53%	11.65%	10.16%	10.06%	10.71%

Frequently Asked Questions

Can I hold both EIT-UN.TO and BANK.TO in my portfolio?

EIT-UN.TO and BANK.TO have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.