FSF.TO vs. HCAL.TO
FSF.TO (CI Global Financial Sector ETF) and HCAL.TO (Hamilton Enhanced Canadian Bank ETF) are both Financials Equities funds. FSF.TO is actively managed, while HCAL.TO is passively managed. Over the past 5 years, FSF.TO returned 11.37%/yr vs 24.03%/yr for HCAL.TO. At a 0.37 correlation, their price movements are largely independent.
Performance
FSF.TO vs. HCAL.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FSF.TO achieves a 2.28% return, which is significantly lower than HCAL.TO's 40.08% return.
FSF.TO
- 1D
- 0.00%
- 1M
- 5.48%
- YTD
- 2.28%
- 6M
- 2.00%
- 1Y
- 13.30%
- 3Y*
- 22.27%
- 5Y*
- 11.37%
- 10Y*
- 21.70%
HCAL.TO
- 1D
- 0.97%
- 1M
- 13.87%
- YTD
- 40.08%
- 6M
- 39.42%
- 1Y
- 92.01%
- 3Y*
- 44.83%
- 5Y*
- 24.03%
- 10Y*
- —
FSF.TO vs. HCAL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FSF.TO CI Global Financial Sector ETF | 2.28% | 20.68% | 33.83% | 10.49% | -11.77% | 30.71% | 28.22% |
HCAL.TO Hamilton Enhanced Canadian Bank ETF | 40.08% | 54.09% | 29.04% | 11.73% | -17.54% | 50.25% | 16.92% |
Correlation
The correlation between FSF.TO and HCAL.TO is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Oct 15, 2020 | 0.37 |
The correlation between FSF.TO and HCAL.TO shifts across timeframes, from 0.23 (1 year) to 0.38 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FSF.TO vs. HCAL.TO — Risk / Return Rank
FSF.TO
HCAL.TO
FSF.TO vs. HCAL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Global Financial Sector ETF (FSF.TO) and Hamilton Enhanced Canadian Bank ETF (HCAL.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.
| FSF.TO | HCAL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.88 | ||
| Sortino ratioReturn per unit of downside risk | -5.94 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 2.00 | -0.83 |
| Calmar ratioReturn relative to maximum drawdown | 0.89 | 8.68 | -7.80 |
| Martin ratioReturn relative to average drawdown | 2.61 | 37.71 | -35.11 |
Loading charts...
Drawdowns
FSF.TO vs. HCAL.TO - Drawdown Comparison
The maximum FSF.TO drawdown since its inception was -73.78%, which is greater than HCAL.TO's maximum drawdown of -35.05%. Use the drawdown chart below to compare losses from any high point for FSF.TO and HCAL.TO.
Loading charts...
Drawdown Indicators
| FSF.TO | HCAL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.78% | -35.05% | -38.73% |
Max Drawdown (1Y)Largest decline over 1 year | -15.09% | -10.65% | -4.44% |
Max Drawdown (3Y)Largest decline over 3 years | -17.26% | -18.77% | +1.51% |
Max Drawdown (5Y)Largest decline over 5 years | -26.08% | -35.05% | +8.97% |
Max Drawdown (10Y)Largest decline over 10 years | -73.78% | — | — |
Current DrawdownCurrent decline from peak | -1.76% | 0.00% | -1.76% |
Average DrawdownAverage peak-to-trough decline | -16.28% | -9.51% | -6.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.12% | 2.45% | +2.67% |
Volatility
FSF.TO vs. HCAL.TO - Volatility Comparison
CI Global Financial Sector ETF (FSF.TO) has a higher volatility of 4.41% compared to Hamilton Enhanced Canadian Bank ETF (HCAL.TO) at 3.76%. This indicates that FSF.TO's price experiences larger fluctuations and is considered to be riskier than HCAL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FSF.TO | HCAL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.41% | 3.76% | +0.65% |
Volatility (6M)Calculated over the trailing 6-month period | 12.90% | 14.05% | -1.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.54% | 16.14% | -0.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.34% | 17.20% | +2.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 212.69% | 16.95% | +195.74% |
Dividends
FSF.TO vs. HCAL.TO - Dividend Comparison
FSF.TO's dividend yield for the trailing twelve months is around 1.43%, less than HCAL.TO's 3.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FSF.TO CI Global Financial Sector ETF | 1.43% | 1.28% | 1.41% | 2.10% | 2.35% | 0.74% | 1.28% | 1.91% | 2.30% | 0.96% | 0.79% |
HCAL.TO Hamilton Enhanced Canadian Bank ETF | 3.11% | 4.20% | 6.12% | 7.37% | 7.46% | 4.27% | 2.66% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FSF.TO and HCAL.TO have a correlation of 0.23, 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: CI and Hamilton Capital.
Find the right allocation for FSF.TO and HCAL.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer