GSY.TO vs. HDIV.TO

Last updated Jun 4, 2026

GSY.TO (goeasy Ltd.) is a stock, while HDIV.TO (Hamilton Enhanced Canadian Covered Call ETF) is Derivative Income fund actively managed by Hamilton ETFs. Over the past 3 years, GSY.TO returned -26.18%/yr vs 27.58%/yr for HDIV.TO. At a 0.43 correlation, their price movements are largely independent.

Performance

GSY.TO vs. HDIV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in goeasy Ltd. (GSY.TO) and Hamilton Enhanced Canadian Covered Call ETF (HDIV.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSY.TO achieves a -70.23% return, which is significantly lower than HDIV.TO's 16.21% return.

GSY.TO

• 1D: -2.69%
• 1M: 22.01%
• YTD: -70.23%
• 6M: -69.37%
• 1Y: -73.34%
• 3Y*: -26.18%
• 5Y*: -20.19%
• 10Y*: 10.76%

HDIV.TO

• 1D: -0.26%
• 1M: 6.14%
• YTD: 16.21%
• 6M: 17.63%
• 1Y: 45.50%
• 3Y*: 27.58%
• 5Y*: —
• 10Y*: —

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

GSY.TO vs. HDIV.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
GSY.TO goeasy Ltd.	-70.23%	-18.20%	10.02%	56.89%	-38.17%	16.49%
HDIV.TO Hamilton Enhanced Canadian Covered Call ETF	16.21%	33.87%	23.15%	13.91%	-2.52%	12.70%

Correlation

The correlation between GSY.TO and HDIV.TO is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (All Time) Calculated using the full available price history since Jul 19, 2021	0.43

Over the past year, the correlation between GSY.TO and HDIV.TO has dropped to 0.18 - well below their long-term average of 0.43, suggesting their price drivers have been diverging.

Return for Risk

GSY.TO vs. HDIV.TO — Risk / Return Rank

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

GSY.TO

GSY.TO Risk / Return Rank: 6
GSY.TO Sharpe Ratio Rank: 5
GSY.TO Sortino Ratio Rank: 7
GSY.TO Omega Ratio Rank: 2
GSY.TO Calmar Ratio Rank: 8
GSY.TO Martin Ratio Rank: 5

HDIV.TO

HDIV.TO Risk / Return Rank: 92
HDIV.TO Sharpe Ratio Rank: 94
HDIV.TO Sortino Ratio Rank: 93
HDIV.TO Omega Ratio Rank: 94
HDIV.TO Calmar Ratio Rank: 88
HDIV.TO Martin Ratio Rank: 93

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.

GSY.TO vs. HDIV.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for goeasy Ltd. (GSY.TO) and Hamilton Enhanced Canadian Covered Call ETF (HDIV.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.

	GSY.TO	HDIV.TO	Difference
Sharpe ratio: Return per unit of total volatility	-0.94	3.67	-4.61
Sortino ratio: Return per unit of downside risk	-1.29	4.70	-6.00
Omega ratio: Gain probability vs. loss probability	0.73	1.68	-0.94
Calmar ratio: Return relative to maximum drawdown	-0.85	5.24	-6.09
Martin ratio: Return relative to average drawdown	-1.54	25.39	-26.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GSY.TO vs. HDIV.TO - Sharpe Ratio Comparison

The current GSY.TO Sharpe Ratio is -0.94, which is lower than the HDIV.TO Sharpe Ratio of 3.67. The chart below compares the historical Sharpe Ratios of GSY.TO and HDIV.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.

Sharpe Ratios by Period

	GSY.TO	HDIV.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.94	3.67	-4.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.42	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.22	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	1.26	-1.16

Drawdowns

GSY.TO vs. HDIV.TO - Drawdown Comparison

The maximum GSY.TO drawdown since its inception was -96.30%, which is greater than HDIV.TO's maximum drawdown of -22.32%. Use the drawdown chart below to compare losses from any high point for GSY.TO and HDIV.TO.

Drawdown Indicators

	GSY.TO	HDIV.TO	Difference
Max Drawdown Largest peak-to-trough decline	-96.30%	-22.32%	-73.98%
Max Drawdown (1Y) Largest decline over 1 year	-86.47%	-8.73%	-77.74%
Max Drawdown (3Y) Largest decline over 3 years	-86.47%	-14.58%	-71.89%
Max Drawdown (5Y) Largest decline over 5 years	-86.47%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-86.47%	—	—
Current Drawdown Current decline from peak	-81.44%	-0.63%	-80.81%
Average Drawdown Average peak-to-trough decline	-43.42%	-4.22%	-39.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	47.67%	1.80%	+45.87%

Volatility

GSY.TO vs. HDIV.TO - Volatility Comparison

goeasy Ltd. (GSY.TO) has a higher volatility of 22.27% compared to Hamilton Enhanced Canadian Covered Call ETF (HDIV.TO) at 3.80%. This indicates that GSY.TO's price experiences larger fluctuations and is considered to be riskier than HDIV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSY.TO	HDIV.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.27%	3.80%	+18.47%
Volatility (6M) Calculated over the trailing 6-month period	95.52%	10.29%	+85.23%
Volatility (1Y) Calculated over the trailing 1-year period	77.82%	12.47%	+65.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.16%	15.63%	+32.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.64%	15.63%	+33.01%

Dividends

GSY.TO vs. HDIV.TO - Dividend Comparison

GSY.TO's dividend yield for the trailing twelve months is around 11.21%, more than HDIV.TO's 9.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GSY.TO goeasy Ltd.	11.21%	4.45%	4.40%	3.99%	4.21%	1.64%	2.62%	1.78%	2.52%	1.94%	2.05%	2.11%
HDIV.TO Hamilton Enhanced Canadian Covered Call ETF	9.33%	10.09%	11.38%	10.41%	9.64%	3.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GSY.TO and HDIV.TO in my portfolio?

GSY.TO and HDIV.TO have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.