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

HBA.TO vs. FIE.TO

Last updated Jul 16, 2026
Documentation

HBA.TO (Hamilton Australian Bank Equal-Weight Index ETF) and FIE.TO (iShares Canadian Financial Monthly Income ETF) are both Financials Equities funds. HBA.TO is passively managed, while FIE.TO is actively managed. Over the past 5 years, HBA.TO returned 13.52%/yr vs 14.03%/yr for FIE.TO. At a 0.43 correlation, their price movements are largely independent.

Performance

HBA.TO vs. FIE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Hamilton Australian Bank Equal-Weight Index ETF (HBA.TO) and iShares Canadian Financial Monthly Income ETF (FIE.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, HBA.TO achieves a 4.47% return, which is significantly lower than FIE.TO's 18.97% return.

HBA.TO

1D
-0.32%
1M
4.65%
6M
4.89%
YTD
4.47%
1Y
10.31%
3Y*
19.57%
5Y*
13.52%
10Y*
—

FIE.TO

1D
1.31%
1M
5.54%
6M
18.02%
YTD
18.97%
1Y
35.03%
3Y*
26.36%
5Y*
14.03%
10Y*
12.47%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)20252024202320222021202020192018
HBA.TO
Hamilton Australian Bank Equal-Weight Index ETF		4.47%13.01%30.43%12.29%-0.55%32.18%16.53%3.54%0.75%
FIE.TO
iShares Canadian Financial Monthly Income ETF		18.97%24.36%27.62%12.58%-14.35%27.34%1.33%18.97%-1.49%

Correlation

The correlation between HBA.TO and FIE.TO is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.34

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

0.37

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

0.44

Correlation (All Time)
Calculated using the full available price history since Dec 17, 2018

0.43

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Hamilton Australian Bank Equal-Weight Index ETF

iShares Canadian Financial Monthly Income ETF

Often compared with HBA.TO:
HBA.TO vs. HEB.TOHBA.TO vs. LMAX.TOHBA.TO vs. FMAX.TOHBA.TO vs. MIX.TOHBA.TO vs. HYLD-U.TOHBA.TO vs. ZWK.TOHBA.TO vs. SIXY.TO
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

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HBA.TO
HBA.TO Risk / Return Rank: 2020
Overall Rank
HBA.TO Sharpe Ratio Rank: 2020
Sharpe Ratio Rank
HBA.TO Sortino Ratio Rank: 1919
Sortino Ratio Rank
HBA.TO Omega Ratio Rank: 1919
Omega Ratio Rank
HBA.TO Calmar Ratio Rank: 2121
Calmar Ratio Rank
HBA.TO Martin Ratio Rank: 1919
Martin Ratio Rank
FIE.TO
FIE.TO Risk / Return Rank: 9595
Overall Rank
FIE.TO Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
FIE.TO Sortino Ratio Rank: 9797
Sortino Ratio Rank
FIE.TO Omega Ratio Rank: 9797
Omega Ratio Rank
FIE.TO Calmar Ratio Rank: 9292
Calmar Ratio Rank
FIE.TO Martin Ratio Rank: 9090
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.

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

This table presents a comparison of risk-adjusted performance metrics for Hamilton Australian Bank Equal-Weight Index ETF (HBA.TO) and iShares Canadian Financial Monthly Income ETF (FIE.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.

HBA.TOFIE.TODifference
Sharpe ratioReturn per unit of total volatility
0.55
3.83

-3.27

Sortino ratioReturn per unit of downside risk
0.91
5.13

-4.22

Omega ratioGain probability vs. loss probability

1.11

1.75

-0.64

Calmar ratioReturn relative to maximum drawdown

0.80

4.89

-4.09

Martin ratioReturn relative to average drawdown

1.76

15.90

-14.14

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

The current HBA.TO Sharpe Ratio is 0.55, which is lower than the FIE.TO Sharpe Ratio of 3.83. The chart below compares the historical Sharpe Ratios of HBA.TO and FIE.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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Drawdowns

HBA.TO vs. FIE.TO - Drawdown Comparison

The maximum HBA.TO drawdown since its inception was -44.66%, which is greater than FIE.TO's maximum drawdown of -42.24%. Use the drawdown chart below to compare losses from any high point for HBA.TO and FIE.TO.

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Drawdown Indicators

HBA.TOFIE.TODifference

Max Drawdown

Largest peak-to-trough decline

-44.66%

-42.24%

-2.42%

Max Drawdown (1Y)

Largest decline over 1 year

-12.93%

-7.19%

-5.74%

Max Drawdown (3Y)

Largest decline over 3 years

-19.21%

-10.70%

-8.51%

Max Drawdown (5Y)

Largest decline over 5 years

-21.15%

-22.93%

+1.78%

Max Drawdown (10Y)

Largest decline over 10 years

—

-42.24%

—

Current Drawdown

Current decline from peak

-6.49%

0.00%

-6.49%

Average Drawdown

Average peak-to-trough decline

-5.90%

-4.86%

-1.04%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.87%

2.21%

+3.66%

Volatility

HBA.TO vs. FIE.TO - Volatility Comparison

Hamilton Australian Bank Equal-Weight Index ETF (HBA.TO) has a higher volatility of 3.58% compared to iShares Canadian Financial Monthly Income ETF (FIE.TO) at 2.32%. This indicates that HBA.TO's price experiences larger fluctuations and is considered to be riskier than FIE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HBA.TOFIE.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.58%

2.32%

+1.26%

Volatility (6M)

Calculated over the trailing 6-month period

15.09%

7.33%

+7.76%

Volatility (1Y)

Calculated over the trailing 1-year period

18.79%

9.22%

+9.57%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.94%

10.58%

+7.36%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

28.36%

14.05%

+14.31%

Dividends

HBA.TO vs. FIE.TO - Dividend Comparison

HBA.TO's dividend yield for the trailing twelve months is around 4.01%, less than FIE.TO's 4.19% yield.

PositionTTM20252024202320222021202020192018201720162015
FIE.TO
iShares Canadian Financial Monthly Income ETF		4.19%4.94%5.83%6.98%7.31%5.92%7.10%6.65%7.38%6.28%6.59%7.43%
HBA.TO
Hamilton Australian Bank Equal-Weight Index ETF		4.01%4.11%4.45%6.67%8.56%5.81%3.02%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

HBA.TO and FIE.TO have a correlation of 0.34, 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: Hamilton and iShares.

Portfolio Optimizer

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Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

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