HBF.TO vs. DXQ.TO
HBF.TO (Harvest US Equity Leaders Income ETF Class A (CAD Hedged)) and DXQ.TO (Dynamic Active Enhanced Yield Covered Options ETF) are both Derivative Income funds. Both are actively managed. Over the past 3 years, HBF.TO returned 13.46%/yr vs 17.60%/yr for DXQ.TO. At a 0.47 correlation, their price movements are largely independent. HBF.TO charges 0.75%/yr vs 0.72%/yr for DXQ.TO.
Performance
HBF.TO vs. DXQ.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HBF.TO achieves a 5.63% return, which is significantly lower than DXQ.TO's 7.89% return.
HBF.TO
- 1D
- -0.18%
- 1M
- -1.40%
- YTD
- 5.63%
- 6M
- 5.39%
- 1Y
- 21.17%
- 3Y*
- 13.46%
- 5Y*
- 7.40%
- 10Y*
- 11.11%
DXQ.TO
- 1D
- 0.11%
- 1M
- 2.12%
- YTD
- 7.89%
- 6M
- 8.04%
- 1Y
- 18.60%
- 3Y*
- 17.60%
- 5Y*
- —
- 10Y*
- —
HBF.TO vs. DXQ.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HBF.TO Harvest US Equity Leaders Income ETF Class A (CAD Hedged) | 5.63% | 15.51% | 13.12% | 11.23% | -0.06% |
DXQ.TO Dynamic Active Enhanced Yield Covered Options ETF | 7.89% | 12.99% | 21.07% | 20.08% | 3.57% |
Correlation
The correlation between HBF.TO and DXQ.TO is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Sep 20, 2022 | 0.47 |
The correlation between HBF.TO and DXQ.TO has been stable across timeframes, ranging from 0.47 to 0.51 - a consistent structural relationship.
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Return for Risk
HBF.TO vs. DXQ.TO — Risk / Return Rank
HBF.TO
DXQ.TO
HBF.TO vs. DXQ.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 Dynamic Active Enhanced Yield Covered Options ETF (DXQ.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.
| HBF.TO | DXQ.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.38 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.73 | 3.65 | -0.92 |
| Martin ratioReturn relative to average drawdown | 10.70 | 10.16 | +0.54 |
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Drawdowns
HBF.TO vs. DXQ.TO - Drawdown Comparison
The maximum HBF.TO drawdown since its inception was -35.27%, which is greater than DXQ.TO's maximum drawdown of -15.54%. Use the drawdown chart below to compare losses from any high point for HBF.TO and DXQ.TO.
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Drawdown Indicators
| HBF.TO | DXQ.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.27% | -15.54% | -19.73% |
Max Drawdown (1Y)Largest decline over 1 year | -7.79% | -5.11% | -2.68% |
Max Drawdown (3Y)Largest decline over 3 years | -15.25% | -15.54% | +0.29% |
Max Drawdown (5Y)Largest decline over 5 years | -23.69% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -35.27% | — | — |
Current DrawdownCurrent decline from peak | -3.44% | -1.38% | -2.06% |
Average DrawdownAverage peak-to-trough decline | -6.74% | -1.26% | -5.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.98% | 1.84% | +0.14% |
Volatility
HBF.TO vs. DXQ.TO - Volatility Comparison
Harvest US Equity Leaders Income ETF Class A (CAD Hedged) (HBF.TO) has a higher volatility of 3.59% compared to Dynamic Active Enhanced Yield Covered Options ETF (DXQ.TO) at 3.17%. This indicates that HBF.TO's price experiences larger fluctuations and is considered to be riskier than DXQ.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HBF.TO | DXQ.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.59% | 3.17% | +0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 8.21% | 7.56% | +0.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.70% | 9.36% | +1.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.09% | 10.93% | +3.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.96% | 10.93% | +6.03% |
HBF.TO vs. DXQ.TO - Expense Ratio Comparison
HBF.TO has a 0.75% expense ratio, which is higher than DXQ.TO's 0.72% expense ratio.
Dividends
HBF.TO vs. DXQ.TO - Dividend Comparison
HBF.TO's dividend yield for the trailing twelve months is around 7.59%, less than DXQ.TO's 7.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DXQ.TO Dynamic Active Enhanced Yield Covered Options ETF | 7.69% | 7.45% | 5.74% | 6.54% | 1.83% | 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) | 7.59% | 7.27% | 7.48% | 7.52% | 7.75% | 5.64% | 6.36% | 6.60% | 7.75% | 6.88% | 7.57% | 7.77% |
Frequently Asked Questions
HBF.TO and DXQ.TO have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DXQ.TO is cheaper at 0.72% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DXQ.TO is cheaper with a 0.72% expense ratio, compared with 0.75% for HBF.TO.
They also come from different issuers: Harvest Portfolios Group and Dynamic. Their fees differ too: 0.75% for HBF.TO and 0.72% for DXQ.TO.
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