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FRU.TO vs. HDIF.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FRU.TO vs. HDIF.TO

Last updated Jun 4, 2026

FRU.TO (Freehold Royalties Ltd.) is a stock, while HDIF.TO (Harvest Diversified Monthly Income ETF - Class A Units) is Derivative Income fund actively managed by Harvest. Over the past 3 years, FRU.TO returned 15.21%/yr vs 18.30%/yr for HDIF.TO. At a 0.27 correlation, their price movements are largely independent.

Performance

FRU.TO vs. HDIF.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Freehold Royalties Ltd. (FRU.TO) and Harvest Diversified Monthly Income ETF - Class A Units (HDIF.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, FRU.TO achieves a 18.31% return, which is significantly higher than HDIF.TO's 11.54% return.

FRU.TO

1D
0.57%
1M
-1.00%
YTD
18.31%
6M
19.71%
1Y
50.63%
3Y*
15.21%
5Y*
21.74%
10Y*
11.21%

HDIF.TO

1D
-0.73%
1M
6.52%
YTD
11.54%
6M
12.52%
1Y
28.86%
3Y*
18.30%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

FRU.TO vs. HDIF.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022
FRU.TO
Freehold Royalties Ltd.		18.31%28.81%0.98%-6.86%23.74%
HDIF.TO
Harvest Diversified Monthly Income ETF - Class A Units		11.54%15.61%18.52%12.79%-15.12%

Correlation

The correlation between FRU.TO and HDIF.TO is 0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.00

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

0.18

Correlation (All Time)
Calculated using the full available price history since Feb 17, 2022

0.27

Over the past year, the correlation between FRU.TO and HDIF.TO has dropped to 0.00 - well below their long-term average of 0.27, suggesting their price drivers have been diverging.

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Freehold Royalties Ltd.

Harvest Diversified Monthly Income ETF - Class A Units

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FRU.TO vs. CNQ.TOFRU.TO vs. ATD.TOFRU.TO vs. ALA.TOFRU.TO vs. BIR.TOFRU.TO vs. FIE.TOFRU.TO vs. ARCCFRU.TO vs. POW.TO
Often compared with HDIF.TO:
HDIF.TO vs. HDIV.TOHDIF.TO vs. HYLD.TOHDIF.TO vs. XEQT.TOHDIF.TO vs. HTAE.TOHDIF.TO vs. MQQQHDIF.TO vs. ZMMK.TOHDIF.TO vs. VDY.TO

Return for Risk

FRU.TO vs. HDIF.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FRU.TO
FRU.TO Risk / Return Rank: 9393
Overall Rank
FRU.TO Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
FRU.TO Sortino Ratio Rank: 9090
Sortino Ratio Rank
FRU.TO Omega Ratio Rank: 9090
Omega Ratio Rank
FRU.TO Calmar Ratio Rank: 9595
Calmar Ratio Rank
FRU.TO Martin Ratio Rank: 9696
Martin Ratio Rank
HDIF.TO
HDIF.TO Risk / Return Rank: 6868
Overall Rank
HDIF.TO Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
HDIF.TO Sortino Ratio Rank: 6666
Sortino Ratio Rank
HDIF.TO Omega Ratio Rank: 6868
Omega Ratio Rank
HDIF.TO Calmar Ratio Rank: 6666
Calmar Ratio Rank
HDIF.TO Martin Ratio Rank: 7272
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.

FRU.TO vs. HDIF.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Freehold Royalties Ltd. (FRU.TO) and Harvest Diversified Monthly Income ETF - Class A Units (HDIF.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.

FRU.TOHDIF.TODifference
Sharpe ratioReturn per unit of total volatility
2.68
2.29

+0.39

Sortino ratioReturn per unit of downside risk
3.24
3.11

+0.12

Omega ratioGain probability vs. loss probability

1.45

1.42

+0.03

Calmar ratioReturn relative to maximum drawdown

7.24

3.30

+3.94

Martin ratioReturn relative to average drawdown

22.15

13.66

+8.48

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

FRU.TO vs. HDIF.TO - Sharpe Ratio Comparison

The current FRU.TO Sharpe Ratio is 2.68, which is comparable to the HDIF.TO Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of FRU.TO and HDIF.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

FRU.TOHDIF.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.68

2.29

+0.39

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.75

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.32

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.40

0.53

-0.13

Drawdowns

FRU.TO vs. HDIF.TO - Drawdown Comparison

The maximum FRU.TO drawdown since its inception was -86.93%, which is greater than HDIF.TO's maximum drawdown of -24.07%. Use the drawdown chart below to compare losses from any high point for FRU.TO and HDIF.TO.

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Drawdown Indicators

FRU.TOHDIF.TODifference

Max Drawdown

Largest peak-to-trough decline

-86.93%

-24.07%

-62.86%

Max Drawdown (1Y)

Largest decline over 1 year

-7.03%

-8.79%

+1.76%

Max Drawdown (3Y)

Largest decline over 3 years

-22.21%

-19.60%

-2.61%

Max Drawdown (5Y)

Largest decline over 5 years

-28.41%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-81.39%

—

—

Current Drawdown

Current decline from peak

-2.15%

-0.73%

-1.42%

Average Drawdown

Average peak-to-trough decline

-22.68%

-6.65%

-16.03%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.30%

2.12%

+0.18%

Volatility

FRU.TO vs. HDIF.TO - Volatility Comparison

Freehold Royalties Ltd. (FRU.TO) has a higher volatility of 5.79% compared to Harvest Diversified Monthly Income ETF - Class A Units (HDIF.TO) at 3.50%. This indicates that FRU.TO's price experiences larger fluctuations and is considered to be riskier than HDIF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FRU.TOHDIF.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.79%

3.50%

+2.29%

Volatility (6M)

Calculated over the trailing 6-month period

15.38%

10.37%

+5.01%

Volatility (1Y)

Calculated over the trailing 1-year period

19.00%

12.67%

+6.33%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

29.31%

17.49%

+11.82%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

35.32%

17.49%

+17.83%

Dividends

FRU.TO vs. HDIF.TO - Dividend Comparison

FRU.TO's dividend yield for the trailing twelve months is around 6.17%, less than HDIF.TO's 10.21% yield.

PositionTTM20252024202320222021202020192018201720162015
FRU.TO
Freehold Royalties Ltd.		6.17%7.11%8.44%7.89%6.13%4.21%5.74%8.72%7.62%4.13%3.81%9.21%
HDIF.TO
Harvest Diversified Monthly Income ETF - Class A Units		10.21%9.93%10.15%10.62%8.95%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

FRU.TO and HDIF.TO have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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