HBA.TO vs. HUTS.TO

Last updated Jun 4, 2026

HBA.TO (Hamilton Australian Bank Equal-Weight Index ETF) and HUTS.TO (Hamilton Enhanced Utilities ETF) are both exchange-traded funds - HBA.TO is a Financials Equities fund tracking the Solactive Australian Bank Equal-Weight Index, while HUTS.TO is a Utilities Equities fund tracking the Solactive Canadian Utility Services High Dividend Index TR. Both are passively managed. Over the past 3 years, HBA.TO returned 19.36%/yr vs 13.29%/yr for HUTS.TO. At a 0.25 correlation, their price movements are largely independent.

Performance

HBA.TO vs. HUTS.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 Hamilton Enhanced Utilities ETF (HUTS.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HBA.TO achieves a -0.51% return, which is significantly lower than HUTS.TO's 18.77% return.

HBA.TO

• 1D: -0.40%
• 1M: -2.87%
• YTD: -0.51%
• 6M: 3.67%
• 1Y: 7.13%
• 3Y*: 19.36%
• 5Y*: 11.38%
• 10Y*: —

HUTS.TO

• 1D: 0.00%
• 1M: 5.42%
• YTD: 18.77%
• 6M: 17.55%
• 1Y: 33.45%
• 3Y*: 13.29%
• 5Y*: —
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022
HBA.TO Hamilton Australian Bank Equal-Weight Index ETF	-0.51%	13.01%	30.43%	12.29%	5.14%
HUTS.TO Hamilton Enhanced Utilities ETF	18.77%	21.29%	9.40%	-3.91%	-12.80%

Correlation

The correlation between HBA.TO and HUTS.TO is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (All Time) Calculated using the full available price history since Sep 7, 2022	0.25

The correlation between HBA.TO and HUTS.TO shifts across timeframes, from 0.13 (1 year) to 0.25 (all time), reflecting how their relationship changes across market environments.

HBA.TO vs. HUTS.TO - Sectors Allocation Comparison

Sectors	HBA.TO	HUTS.TO
Financial Services	100.0%	-
Basic Materials	-	-
Communication Services	-	23.6%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	35.1%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	41.3%

Return for Risk

HBA.TO vs. HUTS.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: 15
HBA.TO Sharpe Ratio Rank: 14
HBA.TO Sortino Ratio Rank: 14
HBA.TO Omega Ratio Rank: 14
HBA.TO Calmar Ratio Rank: 17
HBA.TO Martin Ratio Rank: 16

HUTS.TO

HUTS.TO Risk / Return Rank: 92
HUTS.TO Sharpe Ratio Rank: 94
HUTS.TO Sortino Ratio Rank: 95
HUTS.TO Omega Ratio Rank: 93
HUTS.TO Calmar Ratio Rank: 91
HUTS.TO Martin Ratio Rank: 86

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. HUTS.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 Hamilton Enhanced Utilities ETF (HUTS.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.

	HBA.TO	HUTS.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.38	3.56	-3.18
Sortino ratio: Return per unit of downside risk	0.67	5.12	-4.45
Omega ratio: Gain probability vs. loss probability	1.08	1.65	-0.57
Calmar ratio: Return relative to maximum drawdown	0.59	5.75	-5.16
Martin ratio: Return relative to average drawdown	1.42	18.05	-16.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current HBA.TO Sharpe Ratio is 0.38, which is lower than the HUTS.TO Sharpe Ratio of 3.56. The chart below compares the historical Sharpe Ratios of HBA.TO and HUTS.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

	HBA.TO	HUTS.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.38	3.56	-3.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.95	0.52	+0.44

Drawdowns

HBA.TO vs. HUTS.TO - Drawdown Comparison

The maximum HBA.TO drawdown since its inception was -21.15%, smaller than the maximum HUTS.TO drawdown of -30.57%. Use the drawdown chart below to compare losses from any high point for HBA.TO and HUTS.TO.

Drawdown Indicators

	HBA.TO	HUTS.TO	Difference
Max Drawdown Largest peak-to-trough decline	-21.15%	-30.57%	+9.42%
Max Drawdown (1Y) Largest decline over 1 year	-12.12%	-5.84%	-6.28%
Max Drawdown (3Y) Largest decline over 3 years	-19.21%	-22.04%	+2.83%
Max Drawdown (5Y) Largest decline over 5 years	-21.15%	—	—
Current Drawdown Current decline from peak	-10.95%	-1.31%	-9.64%
Average Drawdown Average peak-to-trough decline	-4.53%	-10.07%	+5.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.02%	1.86%	+3.16%

Volatility

HBA.TO vs. HUTS.TO - Volatility Comparison

Hamilton Australian Bank Equal-Weight Index ETF (HBA.TO) has a higher volatility of 6.76% compared to Hamilton Enhanced Utilities ETF (HUTS.TO) at 2.93%. This indicates that HBA.TO's price experiences larger fluctuations and is considered to be riskier than HUTS.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HBA.TO	HUTS.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.76%	2.93%	+3.83%
Volatility (6M) Calculated over the trailing 6-month period	14.85%	7.75%	+7.10%
Volatility (1Y) Calculated over the trailing 1-year period	18.87%	9.45%	+9.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.95%	15.01%	+2.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.42%	15.01%	+3.41%

Dividends

HBA.TO vs. HUTS.TO - Dividend Comparison

HBA.TO's dividend yield for the trailing twelve months is around 4.17%, less than HUTS.TO's 5.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
HBA.TO Hamilton Australian Bank Equal-Weight Index ETF	4.17%	4.11%	4.45%	6.67%	8.56%	5.81%	2.66%
HUTS.TO Hamilton Enhanced Utilities ETF	5.50%	6.45%	7.45%	7.83%	2.33%	0.00%	0.00%

Frequently Asked Questions

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

HBA.TO and HUTS.TO have a correlation of 0.13, 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 HUTS.TO?

HBA.TO is categorized as Financials Equities, while HUTS.TO is Utilities Equities. HBA.TO tracks Solactive Australian Bank Equal-Weight Index, while HUTS.TO tracks Solactive Canadian Utility Services High Dividend Index TR.