ENB.TO vs. HYLD.TO
ENB.TO (Enbridge Inc.) is a stock, while HYLD.TO (Hamilton Enhanced U.S. Covered Call ETF) is Derivative Income fund actively managed by Hamilton Capital. Over the past 3 years, ENB.TO returned 24.24%/yr vs 21.86%/yr for HYLD.TO. At a 0.22 correlation, their price movements are largely independent.
Performance
ENB.TO vs. HYLD.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ENB.TO achieves a 22.32% return, which is significantly higher than HYLD.TO's 13.98% return.
ENB.TO
- 1D
- -0.10%
- 1M
- 1.05%
- 6M
- 23.26%
- YTD
- 22.32%
- 1Y
- 35.46%
- 3Y*
- 24.24%
- 5Y*
- 17.25%
- 10Y*
- 10.61%
- ALL TIME*
- 13.76%
HYLD.TO
- 1D
- 1.61%
- 1M
- -1.42%
- 6M
- 15.07%
- YTD
- 13.98%
- 1Y
- 29.75%
- 3Y*
- 21.86%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 12.73%
ENB.TO vs. HYLD.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ENB.TO Enbridge Inc. | 22.32% | 14.09% | 37.18% | -3.28% | 2.39% |
HYLD.TO Hamilton Enhanced U.S. Covered Call ETF | 13.98% | 22.14% | 25.39% | 19.01% | -18.00% |
Correlation
The correlation between ENB.TO and HYLD.TO is -0.21, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2022 | 0.22 |
The correlation between ENB.TO and HYLD.TO shifts across timeframes, from -0.21 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ENB.TO vs. HYLD.TO — Risk / Return Rank
ENB.TO
HYLD.TO
ENB.TO vs. HYLD.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Enbridge Inc. (ENB.TO) and Hamilton Enhanced U.S. Covered Call ETF (HYLD.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.
| ENB.TO | HYLD.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.46 | ||
| Sortino ratioReturn per unit of downside risk | +0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.32 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.78 | 2.49 | +1.29 |
| Martin ratioReturn relative to average drawdown | 10.01 | 10.52 | -0.50 |
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Drawdowns
ENB.TO vs. HYLD.TO - Drawdown Comparison
The maximum ENB.TO drawdown since its inception was -39.47%, which is greater than HYLD.TO's maximum drawdown of -31.38%. Use the drawdown chart below to compare losses from any high point for ENB.TO and HYLD.TO.
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Drawdown Indicators
| ENB.TO | HYLD.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.47% | -31.38% | -8.09% |
Max Drawdown (1Y)Largest decline over 1 year | -9.42% | -12.01% | +2.59% |
Max Drawdown (3Y)Largest decline over 3 years | -11.56% | -21.83% | +10.27% |
Max Drawdown (5Y)Largest decline over 5 years | -21.38% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -39.47% | — | — |
Current DrawdownCurrent decline from peak | -2.38% | -2.23% | -0.15% |
Average DrawdownAverage peak-to-trough decline | -8.35% | -8.69% | +0.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.55% | 2.84% | +0.71% |
Volatility
ENB.TO vs. HYLD.TO - Volatility Comparison
Enbridge Inc. (ENB.TO) has a higher volatility of 5.27% compared to Hamilton Enhanced U.S. Covered Call ETF (HYLD.TO) at 4.54%. This indicates that ENB.TO's price experiences larger fluctuations and is considered to be riskier than HYLD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ENB.TO | HYLD.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.27% | 4.54% | +0.73% |
Volatility (6M)Calculated over the trailing 6-month period | 12.73% | 13.92% | -1.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.92% | 16.74% | -0.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.78% | 19.28% | -3.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.43% | 19.28% | +3.15% |
Dividends
ENB.TO vs. HYLD.TO - Dividend Comparison
ENB.TO's dividend yield for the trailing twelve months is around 4.89%, less than HYLD.TO's 11.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ENB.TO Enbridge Inc. | 4.89% | 5.74% | 6.00% | 7.44% | 6.50% | 6.76% | 7.96% | 5.72% | 6.33% | 4.91% | 3.75% | 4.04% |
HYLD.TO Hamilton Enhanced U.S. Covered Call ETF | 11.63% | 11.98% | 12.13% | 12.11% | 13.02% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ENB.TO and HYLD.TO have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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