HBIL-U.TO vs. CWIN.TO
HBIL-U.TO (Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units) and CWIN.TO (HAMILTON CHAMPIONS Enhanced Canadian Dividend ETF Class E Units) are both exchange-traded funds - HBIL-U.TO is a Government Bonds fund actively managed by Hamilton, while CWIN.TO is a Dividend fund tracking the Solactive Canada Dividend Elite Champions Index. HBIL-U.TO is actively managed, while CWIN.TO is passively managed. Over the past year, HBIL-U.TO returned 4.03% vs 35.96% for CWIN.TO. At a 0.11 correlation, their price movements are largely independent.
Performance
HBIL-U.TO vs. CWIN.TO - Performance Comparison
Loading charts...
Different Trading Currencies
HBIL-U.TO is traded in USD, while CWIN.TO is traded in CAD. To make them comparable, the CWIN.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, HBIL-U.TO achieves a 1.33% return, which is significantly lower than CWIN.TO's 17.78% return.
HBIL-U.TO
- 1D
- -0.07%
- 1M
- -0.04%
- 6M
- 1.06%
- YTD
- 1.33%
- 1Y
- 4.03%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CWIN.TO
- 1D
- 0.14%
- 1M
- 1.52%
- 6M
- 15.29%
- YTD
- 17.78%
- 1Y
- 35.96%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HBIL-U.TO vs. CWIN.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HBIL-U.TO Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units | 1.33% | 4.34% |
CWIN.TO HAMILTON CHAMPIONS Enhanced Canadian Dividend ETF Class E Units | 17.78% | 30.70% |
Correlation
The correlation between HBIL-U.TO and CWIN.TO is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jan 28, 2025 | 0.11 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HBIL-U.TO vs. CWIN.TO — Risk / Return Rank
HBIL-U.TO
CWIN.TO
HBIL-U.TO vs. CWIN.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units (HBIL-U.TO) and HAMILTON CHAMPIONS Enhanced Canadian Dividend ETF Class E Units (CWIN.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.
| HBIL-U.TO | CWIN.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.54 | ||
| Sortino ratioReturn per unit of downside risk | -0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.49 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.79 | 4.29 | -0.50 |
| Martin ratioReturn relative to average drawdown | 14.88 | 15.61 | -0.74 |
Loading charts...
Drawdowns
HBIL-U.TO vs. CWIN.TO - Drawdown Comparison
The maximum HBIL-U.TO drawdown since its inception was -1.48%, smaller than the maximum CWIN.TO drawdown of -10.53%. Use the drawdown chart below to compare losses from any high point for HBIL-U.TO and CWIN.TO.
Loading charts...
Drawdown Indicators
| HBIL-U.TO | CWIN.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.48% | -10.53% | +9.05% |
Max Drawdown (1Y)Largest decline over 1 year | -1.07% | -8.16% | +7.09% |
Current DrawdownCurrent decline from peak | -1.00% | 0.00% | -1.00% |
Average DrawdownAverage peak-to-trough decline | -0.32% | -1.40% | +1.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.27% | 2.24% | -1.97% |
Volatility
HBIL-U.TO vs. CWIN.TO - Volatility Comparison
The current volatility for Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units (HBIL-U.TO) is 1.25%, while HAMILTON CHAMPIONS Enhanced Canadian Dividend ETF Class E Units (CWIN.TO) has a volatility of 3.07%. This indicates that HBIL-U.TO experiences smaller price fluctuations and is considered to be less risky than CWIN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HBIL-U.TO | CWIN.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.25% | 3.07% | -1.82% |
Volatility (6M)Calculated over the trailing 6-month period | 1.64% | 10.15% | -8.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.91% | 13.13% | -11.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.12% | 14.88% | -12.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.12% | 14.88% | -12.76% |
Dividends
HBIL-U.TO vs. CWIN.TO - Dividend Comparison
HBIL-U.TO's dividend yield for the trailing twelve months is around 6.75%, more than CWIN.TO's 3.08% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
CWIN.TO HAMILTON CHAMPIONS Enhanced Canadian Dividend ETF Class E Units | 3.08% | 3.21% | 0.00% |
HBIL-U.TO Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units | 6.75% | 7.37% | 2.40% |
Frequently Asked Questions
HBIL-U.TO and CWIN.TO have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HBIL-U.TO is categorized as Government Bonds, while CWIN.TO is Dividend.
Find the right allocation for HBIL-U.TO and CWIN.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