HBA.TO vs. HPYB.TO

Last updated Jul 16, 2026

HBA.TO (Hamilton Australian Bank Equal-Weight Index ETF) and HPYB.TO (Harvest Premium Yield Canadian Bank ETF) are both exchange-traded funds - HBA.TO is a Financials Equities fund tracking the Solactive Australian Bank Equal-Weight Index, while HPYB.TO is a Derivative Income fund actively managed by Harvest. HBA.TO is passively managed, while HPYB.TO is actively managed. At a 0.35 correlation, their price movements are largely independent.

Performance

HBA.TO vs. HPYB.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 Harvest Premium Yield Canadian Bank ETF (HPYB.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HBA.TO

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

HPYB.TO

• 1D: 0.19%
• 1M: 3.95%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

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

	2026 (YTD)
HBA.TO Hamilton Australian Bank Equal-Weight Index ETF	6.34%
HPYB.TO Harvest Premium Yield Canadian Bank ETF	17.82%

Correlation

The correlation between HBA.TO and HPYB.TO is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 21, 2026	0.35

Return for Risk

HBA.TO vs. HPYB.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: 20
HBA.TO Sharpe Ratio Rank: 20
HBA.TO Sortino Ratio Rank: 19
HBA.TO Omega Ratio Rank: 19
HBA.TO Calmar Ratio Rank: 21
HBA.TO Martin Ratio Rank: 19

HPYB.TO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. HPYB.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 Harvest Premium Yield Canadian Bank ETF (HPYB.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.TO	HPYB.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.55	—	—
Sortino ratio: Return per unit of downside risk	0.91	—	—
Omega ratio: Gain probability vs. loss probability	1.11	—	—
Calmar ratio: Return relative to maximum drawdown	0.80	—	—
Martin ratio: Return relative to average drawdown	1.76	—	—

Drawdowns

HBA.TO vs. HPYB.TO - Drawdown Comparison

The maximum HBA.TO drawdown since its inception was -44.66%, which is greater than HPYB.TO's maximum drawdown of -6.37%. Use the drawdown chart below to compare losses from any high point for HBA.TO and HPYB.TO.

Drawdown Indicators

	HBA.TO	HPYB.TO	Difference
Max Drawdown Largest peak-to-trough decline	-44.66%	-6.37%	-38.29%
Max Drawdown (1Y) Largest decline over 1 year	-12.93%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-19.21%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.15%	—	—
Current Drawdown Current decline from peak	-6.49%	0.00%	-6.49%
Average Drawdown Average peak-to-trough decline	-5.90%	-1.09%	-4.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.87%	—	—

Volatility

Volatility by Period

	HBA.TO	HPYB.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.58%	—	—
Volatility (6M) Calculated over the trailing 6-month period	15.09%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.79%	11.82%	+6.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.94%	11.82%	+6.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.36%	11.82%	+16.54%

Dividends

HBA.TO vs. HPYB.TO - Dividend Comparison

HBA.TO's dividend yield for the trailing twelve months is around 4.01%, less than HPYB.TO's 5.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
HBA.TO Hamilton Australian Bank Equal-Weight Index ETF	4.01%	4.11%	4.45%	6.67%	8.56%	5.81%	3.02%
HPYB.TO Harvest Premium Yield Canadian Bank ETF	5.80%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HBA.TO and HPYB.TO in my portfolio?

HBA.TO and HPYB.TO have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between HBA.TO and HPYB.TO?

HBA.TO is categorized as Financials Equities, while HPYB.TO is Derivative Income. They also come from different issuers: Hamilton and Harvest.