HBA.TO vs. HYLD-U.TO

Last updated Apr 2, 2026

Compare and contrast key facts about Hamilton Australian Bank Equal-Weight Index ETF (HBA.TO) and Hamilton Enhanced U.S. Covered Call ETF (USD) (HYLD-U.TO).

HBA.TO and HYLD-U.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HBA.TO is a passively managed fund by Hamilton that tracks the performance of the Solactive Australian Bank Equal-Weight Index. It was launched on Jun 26, 2020. HYLD-U.TO is an actively managed fund by Hamilton. It was launched on Feb 4, 2022.

Performance

HBA.TO vs. HYLD-U.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 U.S. Covered Call ETF (USD) (HYLD-U.TO). The values are adjusted to include any dividend payments, if applicable.

HBA.TO vs. HYLD-U.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
HBA.TO Hamilton Australian Bank Equal-Weight Index ETF	5.18%	13.01%	30.43%	12.29%	3.15%
HYLD-U.TO Hamilton Enhanced U.S. Covered Call ETF (USD)	-4.55%	14.33%	34.31%	14.81%	-15.66%

Different Trading Currencies

HBA.TO is traded in CAD, while HYLD-U.TO is traded in USD. To make them comparable, the HYLD-U.TO values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, HBA.TO achieves a 5.18% return, which is significantly higher than HYLD-U.TO's -4.55% return.

HBA.TO

• 1D: 3.73%
• 1M: -1.26%
• YTD: 5.18%
• 6M: 4.53%
• 1Y: 23.27%
• 3Y*: 21.31%
• 5Y*: 14.51%
• 10Y*: —

HYLD-U.TO

• 1D: 1.19%
• 1M: -2.80%
• YTD: -4.55%
• 6M: -3.27%
• 1Y: 16.98%
• 3Y*: 16.54%
• 5Y*: —
• 10Y*: —

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

HBA.TO vs. HYLD-U.TO - Expense Ratio Comparison

The portfolio doesn't include any funds that charge management fees.

Return for Risk

HBA.TO vs. HYLD-U.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: 63
HBA.TO Sharpe Ratio Rank: 64
HBA.TO Sortino Ratio Rank: 63
HBA.TO Omega Ratio Rank: 57
HBA.TO Calmar Ratio Rank: 77
HBA.TO Martin Ratio Rank: 54

HYLD-U.TO

HYLD-U.TO Risk / Return Rank: 49
HYLD-U.TO Sharpe Ratio Rank: 46
HYLD-U.TO Sortino Ratio Rank: 49
HYLD-U.TO Omega Ratio Rank: 53
HYLD-U.TO Calmar Ratio Rank: 47
HYLD-U.TO Martin Ratio Rank: 52

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. HYLD-U.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 U.S. Covered Call ETF (USD) (HYLD-U.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	HYLD-U.TO	Difference
Sharpe ratio Return per unit of total volatility	1.21	0.77	+0.44
Sortino ratio Return per unit of downside risk	1.70	1.20	+0.50
Omega ratio Gain probability vs. loss probability	1.23	1.18	+0.04
Calmar ratio Return relative to maximum drawdown	2.42	1.15	+1.27
Martin ratio Return relative to average drawdown	5.97	3.85	+2.12
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. HYLD-U.TO - Sharpe Ratio Comparison

The current HBA.TO Sharpe Ratio is 1.21, which is higher than the HYLD-U.TO Sharpe Ratio of 0.77. The chart below compares the historical Sharpe Ratios of HBA.TO and HYLD-U.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HBA.TO	HYLD-U.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.21	0.77	+0.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.06	0.51	+0.55

Correlation

The correlation between HBA.TO and HYLD-U.TO is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

HBA.TO vs. HYLD-U.TO - Dividend Comparison

HBA.TO's dividend yield for the trailing twelve months is around 3.95%, less than HYLD-U.TO's 8.98% yield.

	TTM	2025	2024	2023	2022	2021	2020
HBA.TO Hamilton Australian Bank Equal-Weight Index ETF	3.95%	4.11%	4.45%	6.67%	8.56%	5.81%	2.66%
HYLD-U.TO Hamilton Enhanced U.S. Covered Call ETF (USD)	8.98%	8.06%	8.49%	8.82%	9.99%	0.00%	0.00%

Drawdowns

HBA.TO vs. HYLD-U.TO - Drawdown Comparison

The maximum HBA.TO drawdown since its inception was -21.15%, smaller than the maximum HYLD-U.TO drawdown of -24.30%. Use the drawdown chart below to compare losses from any high point for HBA.TO and HYLD-U.TO.

Drawdown Indicators

	HBA.TO	HYLD-U.TO	Difference
Max Drawdown Largest peak-to-trough decline	-21.15%	-31.64%	+10.49%
Max Drawdown (1Y) Largest decline over 1 year	-10.11%	-13.99%	+3.88%
Max Drawdown (5Y) Largest decline over 5 years	-21.15%	—	—
Current Drawdown Current decline from peak	-5.86%	-7.74%	+1.88%
Average Drawdown Average peak-to-trough decline	-4.46%	-10.10%	+5.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.09%	3.44%	+0.65%

Volatility

HBA.TO vs. HYLD-U.TO - Volatility Comparison

The current volatility for Hamilton Australian Bank Equal-Weight Index ETF (HBA.TO) is 6.25%, while Hamilton Enhanced U.S. Covered Call ETF (USD) (HYLD-U.TO) has a volatility of 6.93%. This indicates that HBA.TO experiences smaller price fluctuations and is considered to be less risky than HYLD-U.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HBA.TO	HYLD-U.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.25%	6.93%	-0.68%
Volatility (6M) Calculated over the trailing 6-month period	13.43%	12.09%	+1.34%
Volatility (1Y) Calculated over the trailing 1-year period	19.28%	22.09%	-2.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.67%	18.04%	-0.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.23%	18.04%	+0.19%