HBIL.TO vs. CBNK.TO
HBIL.TO (Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged)) and CBNK.TO (Mulvihill Canadian Bank Enhanced Yield ETF) are both Derivative Income funds. Both are actively managed. Over the past year, HBIL.TO returned 2.87% vs 79.20% for CBNK.TO. At a 0.14 correlation, their price movements are largely independent.
Performance
HBIL.TO vs. CBNK.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HBIL.TO achieves a 0.59% return, which is significantly lower than CBNK.TO's 25.56% return.
HBIL.TO
- 1D
- 0.00%
- 1M
- 0.23%
- YTD
- 0.59%
- 6M
- 0.53%
- 1Y
- 2.87%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CBNK.TO
- 1D
- 0.42%
- 1M
- 7.74%
- YTD
- 25.56%
- 6M
- 32.17%
- 1Y
- 79.20%
- 3Y*
- 38.97%
- 5Y*
- —
- 10Y*
- —
HBIL.TO vs. CBNK.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HBIL.TO Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged) | 0.59% | 3.05% | -1.40% |
CBNK.TO Mulvihill Canadian Bank Enhanced Yield ETF | 25.56% | 51.67% | 7.79% |
Correlation
The correlation between HBIL.TO and CBNK.TO is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Sep 17, 2024 | 0.14 |
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Return for Risk
HBIL.TO vs. CBNK.TO — Risk / Return Rank
HBIL.TO
CBNK.TO
HBIL.TO vs. CBNK.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged) (HBIL.TO) and Mulvihill Canadian Bank Enhanced Yield ETF (CBNK.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.
| HBIL.TO | CBNK.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.38 | ||
| Sortino ratioReturn per unit of downside risk | -4.05 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.87 | -0.53 |
| Calmar ratioReturn relative to maximum drawdown | 3.03 | 7.94 | -4.91 |
| Martin ratioReturn relative to average drawdown | 9.74 | 34.25 | -24.52 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HBIL.TO | CBNK.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.74 | 5.12 | -3.38 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 1.10 | -0.46 |
Drawdowns
HBIL.TO vs. CBNK.TO - Drawdown Comparison
The maximum HBIL.TO drawdown since its inception was -1.69%, smaller than the maximum CBNK.TO drawdown of -32.12%. Use the drawdown chart below to compare losses from any high point for HBIL.TO and CBNK.TO.
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Drawdown Indicators
| HBIL.TO | CBNK.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.69% | -32.12% | +30.43% |
Max Drawdown (1Y)Largest decline over 1 year | -0.95% | -10.03% | +9.08% |
Max Drawdown (3Y)Largest decline over 3 years | — | -17.92% | — |
Current DrawdownCurrent decline from peak | -0.31% | -2.29% | +1.98% |
Average DrawdownAverage peak-to-trough decline | -0.48% | -10.92% | +10.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.30% | 2.32% | -2.02% |
Volatility
HBIL.TO vs. CBNK.TO - Volatility Comparison
The current volatility for Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged) (HBIL.TO) is 0.62%, while Mulvihill Canadian Bank Enhanced Yield ETF (CBNK.TO) has a volatility of 5.67%. This indicates that HBIL.TO experiences smaller price fluctuations and is considered to be less risky than CBNK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HBIL.TO | CBNK.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.62% | 5.67% | -5.05% |
Volatility (6M)Calculated over the trailing 6-month period | 1.24% | 13.29% | -12.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.66% | 15.55% | -13.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.03% | 17.55% | -15.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.03% | 17.55% | -15.52% |
Dividends
HBIL.TO vs. CBNK.TO - Dividend Comparison
HBIL.TO's dividend yield for the trailing twelve months is around 6.52%, more than CBNK.TO's 5.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CBNK.TO Mulvihill Canadian Bank Enhanced Yield ETF | 5.94% | 5.86% | 8.25% | 9.59% | 7.85% |
HBIL.TO Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged) | 6.52% | 7.49% | 2.58% | 0.00% | 0.00% |
Frequently Asked Questions
HBIL.TO and CBNK.TO have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Hamilton Capital and Mulvihill.
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