HBIX.NEO vs. TBIL.TO

Last updated Apr 2, 2026

Compare and contrast key facts about Harvest Bitcoin Enhanced Income ETF (HBIX.NEO) and Harvest Canadian T-Bill ETF (TBIL.TO).

HBIX.NEO and TBIL.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HBIX.NEO is an actively managed fund by Harvest. It was launched on Apr 28, 2025. TBIL.TO is an actively managed fund by Harvest. It was launched on Jan 11, 2024.

Performance

HBIX.NEO vs. TBIL.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 Canadian T-Bill ETF (TBIL.TO). The values are adjusted to include any dividend payments, if applicable.

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

	2026 (YTD)	2025
HBIX.NEO Harvest Bitcoin Enhanced Income ETF	-24.07%	-6.82%
TBIL.TO Harvest Canadian T-Bill ETF	0.48%	1.67%

Returns By Period

In the year-to-date period, HBIX.NEO achieves a -24.07% return, which is significantly lower than TBIL.TO's 0.48% return.

HBIX.NEO

• 1D: 0.15%
• 1M: 1.72%
• YTD: -24.07%
• 6M: -46.58%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TBIL.TO

• 1D: 0.02%
• 1M: 0.19%
• YTD: 0.48%
• 6M: 1.10%
• 1Y: 2.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

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

HBIX.NEO has a 0.65% expense ratio, which is higher than TBIL.TO's 0.00% expense ratio.

HBIX.NEO

Harvest Bitcoin Enhanced Income ETF

TBIL.TO

Harvest Canadian T-Bill ETF

Return for Risk

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

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

TBIL.TO

TBIL.TO Risk / Return Rank: 99
TBIL.TO Sharpe Ratio Rank: 99
TBIL.TO Sortino Ratio Rank: 99
TBIL.TO Omega Ratio Rank: 99
TBIL.TO Calmar Ratio Rank: 100
TBIL.TO Martin Ratio Rank: 100

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. TBIL.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 Canadian T-Bill ETF (TBIL.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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	HBIX.NEO	TBIL.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	7.89	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.60	5.34	-5.94

Correlation

The correlation between HBIX.NEO and TBIL.TO is 0.09, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

HBIX.NEO vs. TBIL.TO - Dividend Comparison

HBIX.NEO's dividend yield for the trailing twelve months is around 37.84%, more than TBIL.TO's 2.34% yield.

	TTM	2025	2024
HBIX.NEO Harvest Bitcoin Enhanced Income ETF	37.84%	20.21%	0.00%
TBIL.TO Harvest Canadian T-Bill ETF	2.34%	2.57%	8.81%

Drawdowns

HBIX.NEO vs. TBIL.TO - Drawdown Comparison

The maximum HBIX.NEO drawdown since its inception was -55.90%, which is greater than TBIL.TO's maximum drawdown of -0.38%. Use the drawdown chart below to compare losses from any high point for HBIX.NEO and TBIL.TO.

Drawdown Indicators

	HBIX.NEO	TBIL.TO	Difference
Max Drawdown Largest peak-to-trough decline	-55.90%	-0.38%	-55.52%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.04%	—
Current Drawdown Current decline from peak	-49.72%	0.00%	-49.72%
Average Drawdown Average peak-to-trough decline	-19.91%	0.00%	-19.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.01%	—

Volatility

Volatility by Period

	HBIX.NEO	TBIL.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.09%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.21%	—
Volatility (1Y) Calculated over the trailing 1-year period	52.86%	0.30%	+52.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.86%	1.12%	+51.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.86%	1.12%	+51.74%