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HBLK.TO vs. HHL.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HBLK.TO vs. HHL.TO

Last updated Jul 16, 2026
Documentation

HBLK.TO (Blockchain Technologies ETF) and HHL.TO (Harvest Healthcare Leaders Income ETF) are both exchange-traded funds - HBLK.TO is a Blockchain fund actively managed by Harvest, while HHL.TO is a Health & Biotech Equities fund actively managed by Harvest. Both are actively managed. Over the past 5 years, HBLK.TO returned 1.33%/yr vs 5.46%/yr for HHL.TO. At a 0.25 correlation, their price movements are largely independent.

Performance

HBLK.TO vs. HHL.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Blockchain Technologies ETF (HBLK.TO) and Harvest Healthcare Leaders Income ETF (HHL.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, HBLK.TO achieves a 17.41% return, which is significantly higher than HHL.TO's -3.60% return.

HBLK.TO

1D
1.84%
1M
-11.81%
6M
0.65%
YTD
17.41%
1Y
23.03%
3Y*
24.21%
5Y*
1.33%
10Y*
—

HHL.TO

1D
0.14%
1M
2.73%
6M
-5.81%
YTD
-3.60%
1Y
9.75%
3Y*
5.45%
5Y*
5.46%
10Y*
6.39%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HBLK.TO vs. HHL.TO - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
HBLK.TO
Blockchain Technologies ETF		17.41%13.51%21.72%82.66%-62.58%41.87%150.95%21.54%-53.32%
HHL.TO
Harvest Healthcare Leaders Income ETF		-3.60%10.47%3.87%6.74%1.28%23.97%5.28%14.05%2.09%

Correlation

The correlation between HBLK.TO and HHL.TO is 0.05, 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

0.05

Correlation (3Y)
Calculated over the trailing 3-year period

0.16

Correlation (5Y)
Calculated over the trailing 5-year period

0.23

Correlation (All Time)
Calculated using the full available price history since Feb 7, 2018

0.25

Over the past year, the correlation between HBLK.TO and HHL.TO has dropped to 0.05 - well below their long-term average of 0.25, suggesting their price drivers have been diverging.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Blockchain Technologies ETF

Harvest Healthcare Leaders Income ETF

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HHL.TO vs. LMAX.TOHHL.TO vs. XLVHHL.TO vs. HHIS.TOHHL.TO vs. XHC.TOHHL.TO vs. ZUH.TOHHL.TO vs. HHLE.TOHHL.TO vs. HUTE.TO

Return for Risk

HBLK.TO vs. HHL.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HBLK.TO
HBLK.TO Risk / Return Rank: 1818
Overall Rank
HBLK.TO Sharpe Ratio Rank: 1717
Sharpe Ratio Rank
HBLK.TO Sortino Ratio Rank: 2020
Sortino Ratio Rank
HBLK.TO Omega Ratio Rank: 2020
Omega Ratio Rank
HBLK.TO Calmar Ratio Rank: 1616
Calmar Ratio Rank
HBLK.TO Martin Ratio Rank: 1515
Martin Ratio Rank
HHL.TO
HHL.TO Risk / Return Rank: 2121
Overall Rank
HHL.TO Sharpe Ratio Rank: 2222
Sharpe Ratio Rank
HHL.TO Sortino Ratio Rank: 2323
Sortino Ratio Rank
HHL.TO Omega Ratio Rank: 2121
Omega Ratio Rank
HHL.TO Calmar Ratio Rank: 2121
Calmar Ratio Rank
HHL.TO Martin Ratio Rank: 1919
Martin Ratio Rank
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.

HBLK.TO vs. HHL.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Blockchain Technologies ETF (HBLK.TO) and Harvest Healthcare Leaders Income ETF (HHL.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.

HBLK.TOHHL.TODifference
Sharpe ratioReturn per unit of total volatility
0.46
0.64

-0.18

Sortino ratioReturn per unit of downside risk
0.96
1.07

-0.11

Omega ratioGain probability vs. loss probability

1.11

1.12

-0.01

Calmar ratioReturn relative to maximum drawdown

0.52

0.76

-0.24

Martin ratioReturn relative to average drawdown

0.97

1.70

-0.73

HBLK.TO vs. HHL.TO - Sharpe Ratio Comparison

The current HBLK.TO Sharpe Ratio is 0.46, which is comparable to the HHL.TO Sharpe Ratio of 0.64. The chart below compares the historical Sharpe Ratios of HBLK.TO and HHL.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.

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Drawdowns

HBLK.TO vs. HHL.TO - Drawdown Comparison

The maximum HBLK.TO drawdown since its inception was -73.15%, which is greater than HHL.TO's maximum drawdown of -26.70%. Use the drawdown chart below to compare losses from any high point for HBLK.TO and HHL.TO.

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Drawdown Indicators

HBLK.TOHHL.TODifference

Max Drawdown

Largest peak-to-trough decline

-73.15%

-26.70%

-46.45%

Max Drawdown (1Y)

Largest decline over 1 year

-44.42%

-12.88%

-31.54%

Max Drawdown (3Y)

Largest decline over 3 years

-44.42%

-16.01%

-28.41%

Max Drawdown (5Y)

Largest decline over 5 years

-73.15%

-16.01%

-57.14%

Max Drawdown (10Y)

Largest decline over 10 years

—

-26.70%

—

Current Drawdown

Current decline from peak

-23.25%

-6.76%

-16.49%

Average Drawdown

Average peak-to-trough decline

-38.05%

-6.23%

-31.82%

Ulcer Index

Depth and duration of drawdowns from previous peaks

23.86%

5.75%

+18.11%

Volatility

HBLK.TO vs. HHL.TO - Volatility Comparison

Blockchain Technologies ETF (HBLK.TO) has a higher volatility of 12.39% compared to Harvest Healthcare Leaders Income ETF (HHL.TO) at 5.43%. This indicates that HBLK.TO's price experiences larger fluctuations and is considered to be riskier than HHL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HBLK.TOHHL.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

12.39%

5.43%

+6.96%

Volatility (6M)

Calculated over the trailing 6-month period

36.85%

11.34%

+25.51%

Volatility (1Y)

Calculated over the trailing 1-year period

50.70%

15.42%

+35.28%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

45.85%

14.32%

+31.53%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

43.37%

15.82%

+27.55%

Dividends

HBLK.TO vs. HHL.TO - Dividend Comparison

HBLK.TO has not paid dividends to shareholders, while HHL.TO's dividend yield for the trailing twelve months is around 10.21%.

PositionTTM20252024202320222021202020192018201720162015
HBLK.TO
Blockchain Technologies ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
HHL.TO
Harvest Healthcare Leaders Income ETF		10.21%9.36%9.27%8.71%8.51%7.91%9.02%8.65%9.00%8.45%8.83%8.19%

Frequently Asked Questions

HBLK.TO and HHL.TO have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

HBLK.TO is categorized as Blockchain, while HHL.TO is Health & Biotech Equities.

Portfolio Optimizer

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