HBIL.TO vs. GOGY.TO
HBIL.TO (Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged)) and GOGY.TO (Harvest Alphabet Enhanced High Income Shares ETF Class A Units) are both Derivative Income funds. Both are actively managed. Over the past year, HBIL.TO returned 2.87% vs 123.99% for GOGY.TO. At a 0.05 correlation, their price movements are largely independent. HBIL.TO charges 0.35%/yr vs 0.40%/yr for GOGY.TO.
Performance
HBIL.TO vs. GOGY.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 GOGY.TO's 14.33% return.
HBIL.TO
- 1D
- 0.00%
- 1M
- 0.23%
- YTD
- 0.59%
- 6M
- 0.53%
- 1Y
- 2.87%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GOGY.TO
- 1D
- -0.88%
- 1M
- -5.59%
- YTD
- 14.33%
- 6M
- 10.62%
- 1Y
- 123.99%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HBIL.TO vs. GOGY.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HBIL.TO Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged) | 0.59% | 1.86% |
GOGY.TO Harvest Alphabet Enhanced High Income Shares ETF Class A Units | 14.33% | 80.98% |
Correlation
The correlation between HBIL.TO and GOGY.TO is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2025 | 0.05 |
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Return for Risk
HBIL.TO vs. GOGY.TO — Risk / Return Rank
HBIL.TO
GOGY.TO
HBIL.TO vs. GOGY.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 Harvest Alphabet Enhanced High Income Shares ETF Class A Units (GOGY.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 | GOGY.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.34 | ||
| Sortino ratioReturn per unit of downside risk | -2.36 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.62 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 3.03 | 6.19 | -3.16 |
| Martin ratioReturn relative to average drawdown | 9.74 | 22.77 | -13.04 |
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 | GOGY.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.74 | 4.08 | -2.34 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 2.31 | -1.68 |
Drawdowns
HBIL.TO vs. GOGY.TO - Drawdown Comparison
The maximum HBIL.TO drawdown since its inception was -1.69%, smaller than the maximum GOGY.TO drawdown of -20.87%. Use the drawdown chart below to compare losses from any high point for HBIL.TO and GOGY.TO.
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Drawdown Indicators
| HBIL.TO | GOGY.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.69% | -20.87% | +19.18% |
Max Drawdown (1Y)Largest decline over 1 year | -0.95% | -20.14% | +19.19% |
Current DrawdownCurrent decline from peak | -0.31% | -10.57% | +10.26% |
Average DrawdownAverage peak-to-trough decline | -0.48% | -5.07% | +4.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.30% | 5.47% | -5.17% |
Volatility
HBIL.TO vs. GOGY.TO - Volatility Comparison
The current volatility for Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged) (HBIL.TO) is 0.62%, while Harvest Alphabet Enhanced High Income Shares ETF Class A Units (GOGY.TO) has a volatility of 9.16%. This indicates that HBIL.TO experiences smaller price fluctuations and is considered to be less risky than GOGY.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 | GOGY.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.62% | 9.16% | -8.54% |
Volatility (6M)Calculated over the trailing 6-month period | 1.24% | 21.42% | -20.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.66% | 30.67% | -29.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.03% | 34.61% | -32.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.03% | 34.61% | -32.58% |
HBIL.TO vs. GOGY.TO - Expense Ratio Comparison
HBIL.TO has a 0.35% expense ratio, which is lower than GOGY.TO's 0.40% expense ratio.
Dividends
HBIL.TO vs. GOGY.TO - Dividend Comparison
HBIL.TO's dividend yield for the trailing twelve months is around 6.52%, less than GOGY.TO's 12.78% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
GOGY.TO Harvest Alphabet Enhanced High Income Shares ETF Class A Units | 12.78% | 8.04% | 0.00% |
HBIL.TO Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged) | 6.52% | 7.49% | 2.58% |
Frequently Asked Questions
HBIL.TO and GOGY.TO have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HBIL.TO is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HBIL.TO is cheaper with a 0.35% expense ratio, compared with 0.40% for GOGY.TO.
They also come from different issuers: Hamilton Capital and Harvest. Their fees differ too: 0.35% for HBIL.TO and 0.40% for GOGY.TO.
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