HBIE.TO vs. TGRO.TO

Last updated Jul 16, 2026

HBIE.TO (Harvest Balanced Income & Growth Enhanced ETF) and TGRO.TO (TD Growth ETF Portfolio) are both Diversified Portfolio funds. Both are actively managed. Over the past year, HBIE.TO returned 15.23% vs 24.17% for TGRO.TO. A 0.62 correlation means they provide meaningful diversification when combined.

Performance

HBIE.TO vs. TGRO.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Harvest Balanced Income & Growth Enhanced ETF (HBIE.TO) and TD Growth ETF Portfolio (TGRO.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HBIE.TO achieves a 7.09% return, which is significantly lower than TGRO.TO's 11.56% return.

HBIE.TO

• 1D: 0.04%
• 1M: -0.41%
• 6M: 6.46%
• YTD: 7.09%
• 1Y: 15.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TGRO.TO

• 1D: 0.17%
• 1M: 0.51%
• 6M: 8.44%
• YTD: 11.56%
• 1Y: 24.17%
• 3Y*: 18.85%
• 5Y*: 12.40%
• 10Y*: —

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

HBIE.TO vs. TGRO.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HBIE.TO Harvest Balanced Income & Growth Enhanced ETF	7.09%	10.30%	6.94%
TGRO.TO TD Growth ETF Portfolio	11.56%	18.03%	13.33%

Correlation

The correlation between HBIE.TO and TGRO.TO is 0.75, 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	0.75
Correlation (All Time) Calculated using the full available price history since Apr 16, 2024	0.62

The correlation between HBIE.TO and TGRO.TO shifts across timeframes, from 0.62 (all time) to 0.75 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

HBIE.TO vs. TGRO.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HBIE.TO

HBIE.TO Risk / Return Rank: 71
HBIE.TO Sharpe Ratio Rank: 65
HBIE.TO Sortino Ratio Rank: 71
HBIE.TO Omega Ratio Rank: 69
HBIE.TO Calmar Ratio Rank: 72
HBIE.TO Martin Ratio Rank: 81

TGRO.TO

TGRO.TO Risk / Return Rank: 87
TGRO.TO Sharpe Ratio Rank: 89
TGRO.TO Sortino Ratio Rank: 89
TGRO.TO Omega Ratio Rank: 88
TGRO.TO Calmar Ratio Rank: 80
TGRO.TO Martin Ratio Rank: 87

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.

HBIE.TO vs. TGRO.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harvest Balanced Income & Growth Enhanced ETF (HBIE.TO) and TD Growth ETF Portfolio (TGRO.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.

	HBIE.TO	TGRO.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.73	2.33	-0.60
Sortino ratio: Return per unit of downside risk	2.59	3.26	-0.67
Omega ratio: Gain probability vs. loss probability	1.33	1.43	-0.10
Calmar ratio: Return relative to maximum drawdown	2.92	3.37	-0.45
Martin ratio: Return relative to average drawdown	12.42	14.54	-2.12

HBIE.TO vs. TGRO.TO - Sharpe Ratio Comparison

The current HBIE.TO Sharpe Ratio is 1.73, which is comparable to the TGRO.TO Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of HBIE.TO and TGRO.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.

Drawdowns

HBIE.TO vs. TGRO.TO - Drawdown Comparison

The maximum HBIE.TO drawdown since its inception was -10.29%, smaller than the maximum TGRO.TO drawdown of -18.37%. Use the drawdown chart below to compare losses from any high point for HBIE.TO and TGRO.TO.

Drawdown Indicators

	HBIE.TO	TGRO.TO	Difference
Max Drawdown Largest peak-to-trough decline	-10.29%	-18.37%	+8.08%
Max Drawdown (1Y) Largest decline over 1 year	-5.24%	-7.21%	+1.97%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.53%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.37%	—
Current Drawdown Current decline from peak	-0.94%	-0.71%	-0.23%
Average Drawdown Average peak-to-trough decline	-1.75%	-3.43%	+1.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.23%	1.67%	-0.44%

Volatility

HBIE.TO vs. TGRO.TO - Volatility Comparison

Harvest Balanced Income & Growth Enhanced ETF (HBIE.TO) has a higher volatility of 2.60% compared to TD Growth ETF Portfolio (TGRO.TO) at 1.92%. This indicates that HBIE.TO's price experiences larger fluctuations and is considered to be riskier than TGRO.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HBIE.TO	TGRO.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.60%	1.92%	+0.68%
Volatility (6M) Calculated over the trailing 6-month period	7.51%	8.59%	-1.08%
Volatility (1Y) Calculated over the trailing 1-year period	8.85%	10.43%	-1.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.67%	11.80%	-2.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.67%	11.58%	-1.91%

Dividends

HBIE.TO vs. TGRO.TO - Dividend Comparison

HBIE.TO's dividend yield for the trailing twelve months is around 9.95%, more than TGRO.TO's 1.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
HBIE.TO Harvest Balanced Income & Growth Enhanced ETF	9.95%	10.12%	7.56%	0.00%	0.00%	0.00%	0.00%
TGRO.TO TD Growth ETF Portfolio	1.74%	2.03%	2.06%	2.16%	2.46%	1.71%	0.83%

Frequently Asked Questions

Can I hold both HBIE.TO and TGRO.TO in my portfolio?

HBIE.TO and TGRO.TO have a correlation of 0.75, 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 HBIE.TO and TGRO.TO?

They also come from different issuers: Harvest and TD.