HBND.TO vs. BXF.TO
HBND.TO ( Hamilton U.S. Bond YIELD MAXIMIZER ETF (CAD Hedged)) and BXF.TO (CI 1-5 Year Laddered Government Strip Bond Index ETF) are both Government Bonds funds. Over the past year, HBND.TO returned 3.27% vs 2.70% for BXF.TO. At a 0.37 correlation, their price movements are largely independent.
Performance
HBND.TO vs. BXF.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HBND.TO achieves a 1.71% return, which is significantly higher than BXF.TO's 1.25% return.
HBND.TO
- 1D
- -0.11%
- 1M
- 1.94%
- YTD
- 1.71%
- 6M
- 1.14%
- 1Y
- 3.27%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BXF.TO
- 1D
- 0.00%
- 1M
- 0.28%
- YTD
- 1.25%
- 6M
- 1.15%
- 1Y
- 2.70%
- 3Y*
- 4.49%
- 5Y*
- 1.96%
- 10Y*
- 1.81%
HBND.TO vs. BXF.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HBND.TO Hamilton U.S. Bond YIELD MAXIMIZER ETF (CAD Hedged) | 1.71% | 4.05% | -7.02% | 4.34% |
BXF.TO CI 1-5 Year Laddered Government Strip Bond Index ETF | 1.25% | 3.86% | 4.51% | 4.02% |
Correlation
The correlation between HBND.TO and BXF.TO is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2023 | 0.37 |
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Return for Risk
HBND.TO vs. BXF.TO — Risk / Return Rank
HBND.TO
BXF.TO
HBND.TO vs. BXF.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hamilton U.S. Bond YIELD MAXIMIZER ETF (CAD Hedged) (HBND.TO) and CI 1-5 Year Laddered Government Strip Bond Index ETF (BXF.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.
| HBND.TO | BXF.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.17 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.49 | 1.74 | -1.26 |
| Martin ratioReturn relative to average drawdown | 1.22 | 5.46 | -4.24 |
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Drawdowns
HBND.TO vs. BXF.TO - Drawdown Comparison
The maximum HBND.TO drawdown since its inception was -13.62%, which is greater than BXF.TO's maximum drawdown of -6.99%. Use the drawdown chart below to compare losses from any high point for HBND.TO and BXF.TO.
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Drawdown Indicators
| HBND.TO | BXF.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.62% | -6.99% | -6.63% |
Max Drawdown (1Y)Largest decline over 1 year | -6.76% | -1.55% | -5.21% |
Max Drawdown (3Y)Largest decline over 3 years | — | -1.74% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -6.92% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -6.99% | — |
Current DrawdownCurrent decline from peak | -6.15% | -0.11% | -6.04% |
Average DrawdownAverage peak-to-trough decline | -6.52% | -1.16% | -5.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.71% | 0.51% | +2.20% |
Volatility
HBND.TO vs. BXF.TO - Volatility Comparison
Hamilton U.S. Bond YIELD MAXIMIZER ETF (CAD Hedged) (HBND.TO) has a higher volatility of 2.51% compared to CI 1-5 Year Laddered Government Strip Bond Index ETF (BXF.TO) at 0.67%. This indicates that HBND.TO's price experiences larger fluctuations and is considered to be riskier than BXF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HBND.TO | BXF.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.51% | 0.67% | +1.84% |
Volatility (6M)Calculated over the trailing 6-month period | 6.03% | 2.28% | +3.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.49% | 3.06% | +5.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.26% | 3.55% | +7.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.26% | 3.61% | +7.65% |
Dividends
HBND.TO vs. BXF.TO - Dividend Comparison
HBND.TO's dividend yield for the trailing twelve months is around 10.96%, more than BXF.TO's 2.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BXF.TO CI 1-5 Year Laddered Government Strip Bond Index ETF | 2.97% | 2.91% | 3.29% | 2.58% | 1.58% | 1.38% | 1.67% | 1.75% | 1.55% | 1.17% | 1.19% | 1.24% |
HBND.TO Hamilton U.S. Bond YIELD MAXIMIZER ETF (CAD Hedged) | 10.96% | 11.84% | 11.51% | 2.41% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HBND.TO and BXF.TO have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Hamilton Capital and CI.
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