HBIX.NEO vs. BANK.TO

Last updated Jun 13, 2026

HBIX.NEO (Harvest Bitcoin Enhanced Income ETF) and BANK.TO (Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund) are both exchange-traded funds - HBIX.NEO is a Leveraged Cryptocurrency fund actively managed by Harvest, while BANK.TO is a Derivative Income fund tracking the Solactive Canadian Core Financials Equal Weight Index. HBIX.NEO is actively managed, while BANK.TO is passively managed. Over the past year, HBIX.NEO returned -42.38% vs 64.23% for BANK.TO. At a 0.28 correlation, their price movements are largely independent. HBIX.NEO charges 0.65%/yr vs 0.60%/yr for BANK.TO.

Performance

HBIX.NEO vs. BANK.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Harvest Bitcoin Enhanced Income ETF (HBIX.NEO) and Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HBIX.NEO achieves a -30.77% return, which is significantly lower than BANK.TO's 23.62% return.

HBIX.NEO

• 1D: 3.78%
• 1M: -21.97%
• YTD: -30.77%
• 6M: -32.37%
• 1Y: -42.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BANK.TO

• 1D: 1.08%
• 1M: 8.67%
• YTD: 23.62%
• 6M: 25.01%
• 1Y: 64.23%
• 3Y*: 34.20%
• 5Y*: —
• 10Y*: —

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

HBIX.NEO vs. BANK.TO - Yearly Performance Comparison

	2026 (YTD)	2025
HBIX.NEO Harvest Bitcoin Enhanced Income ETF	-30.77%	-9.56%
BANK.TO Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund	23.62%	39.40%

Correlation

The correlation between HBIX.NEO and BANK.TO is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (All Time) Calculated using the full available price history since May 5, 2025	0.28

Return for Risk

HBIX.NEO vs. BANK.TO — Risk / Return Rank

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

HBIX.NEO

HBIX.NEO Risk / Return Rank: 3
HBIX.NEO Sharpe Ratio Rank: 3
HBIX.NEO Sortino Ratio Rank: 3
HBIX.NEO Omega Ratio Rank: 3
HBIX.NEO Calmar Ratio Rank: 3
HBIX.NEO Martin Ratio Rank: 3

BANK.TO

BANK.TO Risk / Return Rank: 97
BANK.TO Sharpe Ratio Rank: 98
BANK.TO Sortino Ratio Rank: 98
BANK.TO Omega Ratio Rank: 98
BANK.TO Calmar Ratio Rank: 96
BANK.TO Martin Ratio Rank: 97

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.

HBIX.NEO vs. BANK.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harvest Bitcoin Enhanced Income ETF (HBIX.NEO) and Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.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.

	HBIX.NEO	BANK.TO	Difference
Sharpe ratio: Return per unit of total volatility	-0.84	5.20	-6.04
Sortino ratio: Return per unit of downside risk	-1.14	7.03	-8.17
Omega ratio: Gain probability vs. loss probability	0.87	1.97	-1.10
Calmar ratio: Return relative to maximum drawdown	-0.77	7.70	-8.47
Martin ratio: Return relative to average drawdown	-1.33	34.12	-35.44

HBIX.NEO vs. BANK.TO - Sharpe Ratio Comparison

The current HBIX.NEO Sharpe Ratio is -0.84, which is lower than the BANK.TO Sharpe Ratio of 5.20. The chart below compares the historical Sharpe Ratios of HBIX.NEO and BANK.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

HBIX.NEO vs. BANK.TO - Drawdown Comparison

The maximum HBIX.NEO drawdown since its inception was -57.09%, which is greater than BANK.TO's maximum drawdown of -29.03%. Use the drawdown chart below to compare losses from any high point for HBIX.NEO and BANK.TO.

Drawdown Indicators

	HBIX.NEO	BANK.TO	Difference
Max Drawdown Largest peak-to-trough decline	-57.09%	-29.03%	-28.06%
Max Drawdown (1Y) Largest decline over 1 year	-57.09%	-8.27%	-48.82%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.49%	—
Current Drawdown Current decline from peak	-54.15%	0.00%	-54.15%
Average Drawdown Average peak-to-trough decline	-24.75%	-8.75%	-16.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.88%	1.86%	+31.02%

Volatility

HBIX.NEO vs. BANK.TO - Volatility Comparison

Harvest Bitcoin Enhanced Income ETF (HBIX.NEO) has a higher volatility of 14.38% compared to Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.TO) at 4.04%. This indicates that HBIX.NEO's price experiences larger fluctuations and is considered to be riskier than BANK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HBIX.NEO	BANK.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.38%	4.04%	+10.34%
Volatility (6M) Calculated over the trailing 6-month period	41.42%	10.58%	+30.84%
Volatility (1Y) Calculated over the trailing 1-year period	52.20%	12.25%	+39.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.19%	15.66%	+35.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.19%	15.66%	+35.53%

HBIX.NEO vs. BANK.TO - Expense Ratio Comparison

HBIX.NEO has a 0.65% expense ratio, which is higher than BANK.TO's 0.60% expense ratio.

Dividends

HBIX.NEO vs. BANK.TO - Dividend Comparison

HBIX.NEO's dividend yield for the trailing twelve months is around 45.75%, more than BANK.TO's 12.36% yield.

Position	TTM	2025	2024	2023	2022
BANK.TO Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund	12.36%	13.73%	15.28%	13.60%	10.52%
HBIX.NEO Harvest Bitcoin Enhanced Income ETF	45.75%	20.21%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HBIX.NEO and BANK.TO in my portfolio?

HBIX.NEO and BANK.TO have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HBIX.NEO or BANK.TO?

On fees, BANK.TO is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HBIX.NEO or BANK.TO?

BANK.TO is cheaper with a 0.60% expense ratio, compared with 0.65% for HBIX.NEO.

What is the main difference between HBIX.NEO and BANK.TO?

HBIX.NEO is categorized as Leveraged Cryptocurrency, while BANK.TO is Derivative Income. They also come from different issuers: Harvest and Evolve. Their fees differ too: 0.65% for HBIX.NEO and 0.60% for BANK.TO.