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FIE.TO vs. HCA.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FIE.TO vs. HCA.TO

Last updated Jun 5, 2026

FIE.TO (iShares Canadian Financial Monthly Income ETF) and HCA.TO (Hamilton Canadian Bank Mean Reversion Index ETF) are both Canada Equities funds - FIE.TO tracks the Morningstar Can Equity Tgt Alloc NR CAD while HCA.TO tracks the Solactive Canadian Bank Mean Reversion Index. Both are passively managed. Over the past 5 years, FIE.TO returned 12.94%/yr vs 28.89%/yr for HCA.TO. A 0.79 correlation means they provide meaningful diversification when combined. FIE.TO charges 0.85%/yr vs 0.45%/yr for HCA.TO.

Performance

FIE.TO vs. HCA.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Canadian Financial Monthly Income ETF (FIE.TO) and Hamilton Canadian Bank Mean Reversion Index ETF (HCA.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FIE.TO achieves a 9.66% return, which is significantly lower than HCA.TO's 23.36% return.

FIE.TO

1D
1.03%
1M
3.66%
YTD
9.66%
6M
12.58%
1Y
32.54%
3Y*
25.37%
5Y*
12.94%
10Y*
11.97%

HCA.TO

1D
1.32%
1M
8.67%
YTD
23.36%
6M
26.59%
1Y
66.74%
3Y*
45.48%
5Y*
28.89%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

FIE.TO vs. HCA.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
FIE.TO
iShares Canadian Financial Monthly Income ETF		9.66%28.28%27.54%12.58%-14.35%29.02%22.33%
HCA.TO
Hamilton Canadian Bank Mean Reversion Index ETF		23.36%51.09%33.32%26.95%-4.34%48.13%23.46%

Correlation

The correlation between FIE.TO and HCA.TO is 0.70, 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

0.70

Correlation (3Y)
Calculated over the trailing 3-year period

0.74

Correlation (5Y)
Calculated over the trailing 5-year period

0.81

Correlation (All Time)
Calculated using the full available price history since Jun 30, 2020

0.79

The correlation between FIE.TO and HCA.TO shifts across timeframes, from 0.70 (1 year) to 0.81 (5 years), reflecting how their relationship changes across market environments.

FIE.TO vs. HCA.TO - Sectors Allocation Comparison

Sectors
FIE.TO
HCA.TO

Financial Services

94.1%
100.0%

Real Estate

5.9%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

-

Technology

-

-

Utilities

-

-

Financial Services

FIE.TO
94.1%
HCA.TO
100.0%

Real Estate

FIE.TO
5.9%
HCA.TO

-

Basic Materials

FIE.TO

-

HCA.TO

-

Communication Services

FIE.TO

-

HCA.TO

-

Consumer Cyclical

FIE.TO

-

HCA.TO

-

Consumer Defensive

FIE.TO

-

HCA.TO

-

Energy

FIE.TO

-

HCA.TO

-

Healthcare

FIE.TO

-

HCA.TO

-

Industrials

FIE.TO

-

HCA.TO

-

Technology

FIE.TO

-

HCA.TO

-

Utilities

FIE.TO

-

HCA.TO

-

Compare stocks, funds, or ETFs

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iShares Canadian Financial Monthly Income ETF

Hamilton Canadian Bank Mean Reversion Index ETF

Often compared with FIE.TO:
FIE.TO vs. XEI.TOFIE.TO vs. XEQT.TOFIE.TO vs. XDIV.TOFIE.TO vs. XFN.TOFIE.TO vs. HMAX.TOFIE.TO vs. VDY.TOFIE.TO vs. FTN.TO
Often compared with HCA.TO:
HCA.TO vs. HCAL.TOHCA.TO vs. HEB.TOHCA.TO vs. VCE.TOHCA.TO vs. PMIF.TOHCA.TO vs. XIC.TOHCA.TO vs. LMAX.TOHCA.TO vs. FCCM.NEO

Return for Risk

FIE.TO vs. HCA.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FIE.TO
FIE.TO Risk / Return Rank: 9494
Overall Rank
FIE.TO Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
FIE.TO Sortino Ratio Rank: 9696
Sortino Ratio Rank
FIE.TO Omega Ratio Rank: 9595
Omega Ratio Rank
FIE.TO Calmar Ratio Rank: 9191
Calmar Ratio Rank
FIE.TO Martin Ratio Rank: 9292
Martin Ratio Rank
HCA.TO
HCA.TO Risk / Return Rank: 9797
Overall Rank
HCA.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
HCA.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
HCA.TO Omega Ratio Rank: 9898
Omega Ratio Rank
HCA.TO Calmar Ratio Rank: 9595
Calmar Ratio Rank
HCA.TO Martin Ratio Rank: 9696
Martin Ratio Rank
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.

FIE.TO vs. HCA.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Canadian Financial Monthly Income ETF (FIE.TO) and Hamilton Canadian Bank Mean Reversion Index ETF (HCA.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.

FIE.TOHCA.TODifference
Sharpe ratioReturn per unit of total volatility
3.88
5.16

-1.28

Sortino ratioReturn per unit of downside risk
5.68
7.53

-1.86

Omega ratioGain probability vs. loss probability

1.74

2.03

-0.30

Calmar ratioReturn relative to maximum drawdown

5.73

7.87

-2.14

Martin ratioReturn relative to average drawdown

23.64

35.72

-12.08

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIE.TO vs. HCA.TO - Sharpe Ratio Comparison

The current FIE.TO Sharpe Ratio is 3.88, which is comparable to the HCA.TO Sharpe Ratio of 5.16. The chart below compares the historical Sharpe Ratios of FIE.TO and HCA.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.

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Sharpe Ratios by Period

FIE.TOHCA.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.88

5.16

-1.28

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.25

1.92

-0.68

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.86

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.76

2.22

-1.46

Drawdowns

FIE.TO vs. HCA.TO - Drawdown Comparison

The maximum FIE.TO drawdown since its inception was -42.24%, which is greater than HCA.TO's maximum drawdown of -17.82%. Use the drawdown chart below to compare losses from any high point for FIE.TO and HCA.TO.

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Drawdown Indicators

FIE.TOHCA.TODifference

Max Drawdown

Largest peak-to-trough decline

-42.24%

-17.82%

-24.42%

Max Drawdown (1Y)

Largest decline over 1 year

-5.70%

-8.52%

+2.82%

Max Drawdown (3Y)

Largest decline over 3 years

-10.70%

-12.51%

+1.81%

Max Drawdown (5Y)

Largest decline over 5 years

-22.93%

-17.82%

-5.11%

Max Drawdown (10Y)

Largest decline over 10 years

-42.24%

—

—

Current Drawdown

Current decline from peak

-0.28%

0.00%

-0.28%

Average Drawdown

Average peak-to-trough decline

-4.87%

-3.35%

-1.52%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.38%

1.87%

-0.49%

Volatility

FIE.TO vs. HCA.TO - Volatility Comparison

The current volatility for iShares Canadian Financial Monthly Income ETF (FIE.TO) is 2.99%, while Hamilton Canadian Bank Mean Reversion Index ETF (HCA.TO) has a volatility of 4.21%. This indicates that FIE.TO experiences smaller price fluctuations and is considered to be less risky than HCA.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FIE.TOHCA.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.99%

4.21%

-1.22%

Volatility (6M)

Calculated over the trailing 6-month period

7.21%

11.28%

-4.07%

Volatility (1Y)

Calculated over the trailing 1-year period

8.43%

12.99%

-4.56%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.45%

15.12%

-4.67%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.04%

15.10%

-1.06%

FIE.TO vs. HCA.TO - Expense Ratio Comparison

FIE.TO has a 0.85% expense ratio, which is higher than HCA.TO's 0.45% expense ratio.

Dividends

FIE.TO vs. HCA.TO - Dividend Comparison

FIE.TO's dividend yield for the trailing twelve months is around 4.47%, more than HCA.TO's 2.83% yield.

PositionTTM20252024202320222021202020192018201720162015
FIE.TO
iShares Canadian Financial Monthly Income ETF		4.47%4.81%5.84%6.98%7.31%5.85%7.10%6.65%7.38%6.28%6.59%7.43%
HCA.TO
Hamilton Canadian Bank Mean Reversion Index ETF		2.83%5.59%15.89%20.26%16.23%11.79%3.54%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

FIE.TO and HCA.TO have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, HCA.TO is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

HCA.TO is cheaper with a 0.45% expense ratio, compared with 0.85% for FIE.TO.

FIE.TO tracks Morningstar Can Equity Tgt Alloc NR CAD, while HCA.TO tracks Solactive Canadian Bank Mean Reversion Index. They also come from different issuers: iShares and Hamilton. Their fees differ too: 0.85% for FIE.TO and 0.45% for HCA.TO.

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