HBIX.NEO vs. CNQE.TO

Last updated Jun 5, 2026

HBIX.NEO (Harvest Bitcoin Enhanced Income ETF) and CNQE.TO (Harvest CNQ Enhanced High Income Shares ETF) are both exchange-traded funds - HBIX.NEO is a Leveraged Cryptocurrency fund actively managed by Harvest, while CNQE.TO is a Derivative Income fund actively managed by Harvest. Both are actively managed. At a correlation of -0.02, they often move in opposite directions. HBIX.NEO charges 0.65%/yr vs 0.40%/yr for CNQE.TO.

Performance

HBIX.NEO vs. CNQE.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 Harvest CNQ Enhanced High Income Shares ETF (CNQE.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 -31.13% return, which is significantly lower than CNQE.TO's 38.88% return.

HBIX.NEO

• 1D: -3.20%
• 1M: -23.29%
• YTD: -31.13%
• 6M: -32.45%
• 1Y: -41.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CNQE.TO

• 1D: -0.34%
• 1M: 1.72%
• YTD: 38.88%
• 6M: 34.99%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

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

	2026 (YTD)	2025
HBIX.NEO Harvest Bitcoin Enhanced Income ETF	-31.13%	-24.35%
CNQE.TO Harvest CNQ Enhanced High Income Shares ETF	38.88%	13.80%

Correlation

The correlation between HBIX.NEO and CNQE.TO is -0.02, 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 (All Time) Calculated using the full available price history since Aug 22, 2025	-0.02

Return for Risk

HBIX.NEO vs. CNQE.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: 2
HBIX.NEO Sharpe Ratio Rank: 3
HBIX.NEO Sortino Ratio Rank: 3
HBIX.NEO Omega Ratio Rank: 3
HBIX.NEO Calmar Ratio Rank: 2
HBIX.NEO Martin Ratio Rank: 2

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. CNQE.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harvest Bitcoin Enhanced Income ETF (HBIX.NEO) and Harvest CNQ Enhanced High Income Shares ETF (CNQE.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.

	HBIX.NEO	CNQE.TO	Difference
Sharpe ratio: Return per unit of total volatility	-0.84	—	—
Sortino ratio: Return per unit of downside risk	-1.13	—	—
Omega ratio: Gain probability vs. loss probability	0.87	—	—
Calmar ratio: Return relative to maximum drawdown	-0.78	—	—
Martin ratio: Return relative to average drawdown	-1.36	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	HBIX.NEO	CNQE.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.84	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.66	2.45	-3.10

Drawdowns

HBIX.NEO vs. CNQE.TO - Drawdown Comparison

The maximum HBIX.NEO drawdown since its inception was -55.90%, which is greater than CNQE.TO's maximum drawdown of -18.22%. Use the drawdown chart below to compare losses from any high point for HBIX.NEO and CNQE.TO.

Drawdown Indicators

	HBIX.NEO	CNQE.TO	Difference
Max Drawdown Largest peak-to-trough decline	-55.90%	-18.22%	-37.68%
Max Drawdown (1Y) Largest decline over 1 year	-55.90%	—	—
Current Drawdown Current decline from peak	-54.39%	-6.40%	-47.99%
Average Drawdown Average peak-to-trough decline	-23.86%	-4.14%	-19.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.75%	—	—

Volatility

Volatility by Period

	HBIX.NEO	CNQE.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.19%	—	—
Volatility (6M) Calculated over the trailing 6-month period	40.86%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	51.68%	33.04%	+18.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.94%	33.04%	+17.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.94%	33.04%	+17.90%

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

HBIX.NEO has a 0.65% expense ratio, which is higher than CNQE.TO's 0.40% expense ratio.

Dividends

HBIX.NEO vs. CNQE.TO - Dividend Comparison

HBIX.NEO's dividend yield for the trailing twelve months is around 45.99%, more than CNQE.TO's 9.43% yield.

Position	TTM	2025
CNQE.TO Harvest CNQ Enhanced High Income Shares ETF	9.43%	4.42%
HBIX.NEO Harvest Bitcoin Enhanced Income ETF	45.99%	20.21%

Frequently Asked Questions

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

HBIX.NEO and CNQE.TO have a correlation of -0.02, 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 CNQE.TO?

On fees, CNQE.TO is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

CNQE.TO is cheaper with a 0.40% expense ratio, compared with 0.65% for HBIX.NEO.

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

HBIX.NEO is categorized as Leveraged Cryptocurrency, while CNQE.TO is Derivative Income. Their fees differ too: 0.65% for HBIX.NEO and 0.40% for CNQE.TO.