PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
HBF.TO vs. BANK.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HBF.TO vs. BANK.TO

Last updated Jun 4, 2026

HBF.TO (Harvest US Equity Leaders Income ETF Class A (CAD Hedged)) and BANK.TO (Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund) are both Derivative Income funds. HBF.TO is actively managed, while BANK.TO is passively managed. Over the past 3 years, HBF.TO returned 14.19%/yr vs 31.96%/yr for BANK.TO. A 0.62 correlation means they provide meaningful diversification when combined. HBF.TO charges 0.75%/yr vs 0.60%/yr for BANK.TO.

Performance

HBF.TO vs. BANK.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Harvest US Equity Leaders Income ETF Class A (CAD Hedged) (HBF.TO) and Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, HBF.TO achieves a 8.15% return, which is significantly lower than BANK.TO's 17.36% return.

HBF.TO

1D
-1.15%
1M
3.49%
YTD
8.15%
6M
7.25%
1Y
25.20%
3Y*
14.19%
5Y*
7.67%
10Y*
11.18%

BANK.TO

1D
-0.47%
1M
6.16%
YTD
17.36%
6M
23.52%
1Y
55.24%
3Y*
31.96%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

HBF.TO vs. BANK.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022
HBF.TO
Harvest US Equity Leaders Income ETF Class A (CAD Hedged)		8.15%15.51%13.12%11.23%-15.14%
BANK.TO
Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund		17.36%41.00%27.90%16.23%-20.47%

Correlation

The correlation between HBF.TO and BANK.TO is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.55

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

0.55

Correlation (All Time)
Calculated using the full available price history since Feb 3, 2022

0.62

The correlation between HBF.TO and BANK.TO has been stable across timeframes, ranging from 0.55 to 0.62 - a consistent structural relationship.

HBF.TO vs. BANK.TO - Sectors Allocation Comparison

Sectors
HBF.TO
BANK.TO

Technology

29.5%

-

Financial Services

19.7%
100.0%

Consumer Defensive

15.1%

-

Communication Services

10.4%

-

Consumer Cyclical

9.9%

-

Industrials

5.4%

-

Energy

5.1%

-

Healthcare

5.0%

-

Basic Materials

-

-

Real Estate

-

-

Utilities

-

-

Technology

HBF.TO
29.5%
BANK.TO

-

Financial Services

HBF.TO
19.7%
BANK.TO
100.0%

Consumer Defensive

HBF.TO
15.1%
BANK.TO

-

Communication Services

HBF.TO
10.4%
BANK.TO

-

Consumer Cyclical

HBF.TO
9.9%
BANK.TO

-

Industrials

HBF.TO
5.4%
BANK.TO

-

Energy

HBF.TO
5.1%
BANK.TO

-

Healthcare

HBF.TO
5.0%
BANK.TO

-

Basic Materials

HBF.TO

-

BANK.TO

-

Real Estate

HBF.TO

-

BANK.TO

-

Utilities

HBF.TO

-

BANK.TO

-

Compare stocks, funds, or ETFs

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

Harvest US Equity Leaders Income ETF Class A (CAD Hedged)

Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund

Often compared with HBF.TO:
HBF.TO vs. YGOG.NEOHBF.TO vs. RUD.TOHBF.TO vs. XTOT.TOHBF.TO vs. HPYE.TOHBF.TO vs. HPYB.TOHBF.TO vs. METE.TOHBF.TO vs. FLUS.TO
Often compared with BANK.TO:
BANK.TO vs. HMAX.TOBANK.TO vs. HCAL.TOBANK.TO vs. VDY.TOBANK.TO vs. RBNK.TOBANK.TO vs. HYLD.TOBANK.TO vs. VCN.TOBANK.TO vs. VEQT.TO

Return for Risk

HBF.TO vs. BANK.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HBF.TO
HBF.TO Risk / Return Rank: 7474
Overall Rank
HBF.TO Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
HBF.TO Sortino Ratio Rank: 7979
Sortino Ratio Rank
HBF.TO Omega Ratio Rank: 7575
Omega Ratio Rank
HBF.TO Calmar Ratio Rank: 6666
Calmar Ratio Rank
HBF.TO Martin Ratio Rank: 7272
Martin Ratio Rank
BANK.TO
BANK.TO Risk / Return Rank: 9696
Overall Rank
BANK.TO Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
BANK.TO Sortino Ratio Rank: 9797
Sortino Ratio Rank
BANK.TO Omega Ratio Rank: 9696
Omega Ratio Rank
BANK.TO Calmar Ratio Rank: 9393
Calmar Ratio Rank
BANK.TO Martin Ratio Rank: 9595
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.

HBF.TO vs. BANK.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harvest US Equity Leaders Income ETF Class A (CAD Hedged) (HBF.TO) and Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.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.

HBF.TOBANK.TODifference
Sharpe ratioReturn per unit of total volatility
2.46
4.59

-2.13

Sortino ratioReturn per unit of downside risk
3.52
6.28

-2.76

Omega ratioGain probability vs. loss probability

1.44

1.85

-0.41

Calmar ratioReturn relative to maximum drawdown

3.25

6.75

-3.50

Martin ratioReturn relative to average drawdown

13.35

29.78

-16.43

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HBF.TO vs. BANK.TO - Sharpe Ratio Comparison

The current HBF.TO Sharpe Ratio is 2.46, which is lower than the BANK.TO Sharpe Ratio of 4.59. The chart below compares the historical Sharpe Ratios of HBF.TO and BANK.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.

Loading charts...

Sharpe Ratios by Period

HBF.TOBANK.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.46

4.59

-2.13

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.55

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.66

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.50

1.08

-0.58

Drawdowns

HBF.TO vs. BANK.TO - Drawdown Comparison

The maximum HBF.TO drawdown since its inception was -35.28%, which is greater than BANK.TO's maximum drawdown of -29.03%. Use the drawdown chart below to compare losses from any high point for HBF.TO and BANK.TO.

Loading charts...

Drawdown Indicators

HBF.TOBANK.TODifference

Max Drawdown

Largest peak-to-trough decline

-35.28%

-29.03%

-6.25%

Max Drawdown (1Y)

Largest decline over 1 year

-7.79%

-8.23%

+0.44%

Max Drawdown (3Y)

Largest decline over 3 years

-15.21%

-15.49%

+0.28%

Max Drawdown (5Y)

Largest decline over 5 years

-23.69%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-35.28%

—

—

Current Drawdown

Current decline from peak

-1.15%

-1.16%

+0.01%

Average Drawdown

Average peak-to-trough decline

-6.77%

-8.81%

+2.04%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.89%

1.86%

+0.03%

Volatility

HBF.TO vs. BANK.TO - Volatility Comparison

The current volatility for Harvest US Equity Leaders Income ETF Class A (CAD Hedged) (HBF.TO) is 2.65%, while Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.TO) has a volatility of 4.28%. This indicates that HBF.TO experiences smaller price fluctuations and is considered to be less risky than BANK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

HBF.TOBANK.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.65%

4.28%

-1.63%

Volatility (6M)

Calculated over the trailing 6-month period

7.79%

10.45%

-2.66%

Volatility (1Y)

Calculated over the trailing 1-year period

10.29%

12.09%

-1.80%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.07%

15.65%

-1.58%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.95%

15.65%

+1.30%

HBF.TO vs. BANK.TO - Expense Ratio Comparison

HBF.TO has a 0.75% expense ratio, which is higher than BANK.TO's 0.60% expense ratio.

Dividends

HBF.TO vs. BANK.TO - Dividend Comparison

HBF.TO's dividend yield for the trailing twelve months is around 7.41%, less than BANK.TO's 13.02% yield.

PositionTTM20252024202320222021202020192018201720162015
BANK.TO
Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund		13.02%13.73%15.28%13.60%10.52%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
HBF.TO
Harvest US Equity Leaders Income ETF Class A (CAD Hedged)		7.41%7.27%7.48%7.52%7.75%5.62%6.34%6.57%7.72%6.86%7.54%7.74%

Frequently Asked Questions

HBF.TO and BANK.TO have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, BANK.TO is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

BANK.TO is cheaper with a 0.60% expense ratio, compared with 0.75% for HBF.TO.

They also come from different issuers: Harvest Portfolios Group and Evolve. Their fees differ too: 0.75% for HBF.TO and 0.60% for BANK.TO.

Portfolio Optimizer

Find the right allocation for HBF.TO and BANK.TO

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

Open Portfolio Optimizer