HBND.TO vs. CMVP.TO
HBND.TO ( Hamilton U.S. Bond YIELD MAXIMIZER ETF (CAD Hedged)) and CMVP.TO (HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units) are both exchange-traded funds - HBND.TO is a Government Bonds fund actively managed by Hamilton Capital, while CMVP.TO is a Canada Equities fund tracking the Solactive Canada Dividend Elite Champions Index. HBND.TO is actively managed, while CMVP.TO is passively managed. Over the past year, HBND.TO returned 3.62% vs 27.57% for CMVP.TO. At a 0.19 correlation, their price movements are largely independent. HBND.TO charges 0.45%/yr vs 0.00%/yr for CMVP.TO.
Performance
HBND.TO vs. CMVP.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HBND.TO achieves a -0.06% return, which is significantly lower than CMVP.TO's 13.41% return.
HBND.TO
- 1D
- 0.25%
- 1M
- 0.45%
- YTD
- -0.06%
- 6M
- -1.01%
- 1Y
- 3.62%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CMVP.TO
- 1D
- 1.35%
- 1M
- 3.07%
- YTD
- 13.41%
- 6M
- 14.67%
- 1Y
- 27.57%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HBND.TO vs. CMVP.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HBND.TO Hamilton U.S. Bond YIELD MAXIMIZER ETF (CAD Hedged) | -0.06% | 3.07% |
CMVP.TO HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units | 13.41% | 21.46% |
Correlation
The correlation between HBND.TO and CMVP.TO is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Jan 28, 2025 | 0.19 |
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Return for Risk
HBND.TO vs. CMVP.TO — Risk / Return Rank
HBND.TO
CMVP.TO
HBND.TO vs. CMVP.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 HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units (CMVP.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.
| HBND.TO | CMVP.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.40 | ||
| Sortino ratioReturn per unit of downside risk | -3.24 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.52 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | 0.54 | 3.88 | -3.34 |
| Martin ratioReturn relative to average drawdown | 1.39 | 17.44 | -16.05 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HBND.TO | CMVP.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.42 | 2.83 | -2.40 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.04 | 2.41 | -2.37 |
Drawdowns
HBND.TO vs. CMVP.TO - Drawdown Comparison
The maximum HBND.TO drawdown since its inception was -13.65%, which is greater than CMVP.TO's maximum drawdown of -8.86%. Use the drawdown chart below to compare losses from any high point for HBND.TO and CMVP.TO.
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Drawdown Indicators
| HBND.TO | CMVP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.65% | -8.86% | -4.79% |
Max Drawdown (1Y)Largest decline over 1 year | -6.76% | -7.14% | +0.38% |
Current DrawdownCurrent decline from peak | -7.79% | -0.10% | -7.69% |
Average DrawdownAverage peak-to-trough decline | -6.50% | -1.09% | -5.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.60% | 1.60% | +1.00% |
Volatility
HBND.TO vs. CMVP.TO - Volatility Comparison
The current volatility for Hamilton U.S. Bond YIELD MAXIMIZER ETF (CAD Hedged) (HBND.TO) is 2.71%, while HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units (CMVP.TO) has a volatility of 3.19%. This indicates that HBND.TO experiences smaller price fluctuations and is considered to be less risky than CMVP.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 | CMVP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.71% | 3.19% | -0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 5.72% | 8.00% | -2.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.70% | 9.79% | -1.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.33% | 11.11% | +0.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.33% | 11.11% | +0.22% |
HBND.TO vs. CMVP.TO - Expense Ratio Comparison
HBND.TO has a 0.45% expense ratio, which is higher than CMVP.TO's 0.00% expense ratio.
Dividends
HBND.TO vs. CMVP.TO - Dividend Comparison
HBND.TO's dividend yield for the trailing twelve months is around 11.31%, more than CMVP.TO's 2.68% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CMVP.TO HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units | 2.68% | 2.70% | 0.00% | 0.00% |
HBND.TO Hamilton U.S. Bond YIELD MAXIMIZER ETF (CAD Hedged) | 11.31% | 11.84% | 11.51% | 2.41% |
Frequently Asked Questions
HBND.TO and CMVP.TO have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CMVP.TO is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CMVP.TO is cheaper with a 0.00% expense ratio, compared with 0.45% for HBND.TO.
HBND.TO is categorized as Government Bonds, while CMVP.TO is Canada Equities. Their fees differ too: 0.45% for HBND.TO and 0.00% for CMVP.TO.
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