HBND.TO vs. ENB.TO
HBND.TO ( Hamilton U.S. Bond YIELD MAXIMIZER ETF (CAD Hedged)) is Government Bonds fund actively managed by Hamilton Capital, while ENB.TO (Enbridge Inc.) is a stock. Over the past year, HBND.TO returned 3.62% vs 30.27% for ENB.TO. At a 0.12 correlation, their price movements are largely independent.
Performance
HBND.TO vs. ENB.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 ENB.TO's 23.18% return.
HBND.TO
- 1D
- 0.25%
- 1M
- 0.45%
- YTD
- -0.06%
- 6M
- -1.01%
- 1Y
- 3.62%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ENB.TO
- 1D
- 1.61%
- 1M
- 6.63%
- YTD
- 23.18%
- 6M
- 20.29%
- 1Y
- 30.27%
- 3Y*
- 23.91%
- 5Y*
- 18.13%
- 10Y*
- 10.48%
HBND.TO vs. ENB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HBND.TO Hamilton U.S. Bond YIELD MAXIMIZER ETF (CAD Hedged) | -0.06% | 4.05% | -7.02% | 4.80% |
ENB.TO Enbridge Inc. | 23.18% | 14.10% | 37.18% | 2.15% |
Correlation
The correlation between HBND.TO and ENB.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 (All Time) Calculated using the full available price history since Sep 18, 2023 | 0.12 |
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Return for Risk
HBND.TO vs. ENB.TO — Risk / Return Rank
HBND.TO
ENB.TO
HBND.TO vs. ENB.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 Enbridge Inc. (ENB.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 | ENB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.53 | ||
| Sortino ratioReturn per unit of downside risk | -2.13 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.33 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 0.54 | 3.23 | -2.69 |
| Martin ratioReturn relative to average drawdown | 1.39 | 8.18 | -6.79 |
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 | ENB.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.42 | 1.96 | -1.53 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.16 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.47 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.04 | 0.61 | -0.57 |
Drawdowns
HBND.TO vs. ENB.TO - Drawdown Comparison
The maximum HBND.TO drawdown since its inception was -13.65%, smaller than the maximum ENB.TO drawdown of -48.20%. Use the drawdown chart below to compare losses from any high point for HBND.TO and ENB.TO.
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Drawdown Indicators
| HBND.TO | ENB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.65% | -48.20% | +34.55% |
Max Drawdown (1Y)Largest decline over 1 year | -6.76% | -9.42% | +2.66% |
Max Drawdown (3Y)Largest decline over 3 years | — | -13.95% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.38% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.47% | — |
Current DrawdownCurrent decline from peak | -7.79% | -1.70% | -6.09% |
Average DrawdownAverage peak-to-trough decline | -6.50% | -10.25% | +3.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.60% | 3.71% | -1.11% |
Volatility
HBND.TO vs. ENB.TO - Volatility Comparison
The current volatility for Hamilton U.S. Bond YIELD MAXIMIZER ETF (CAD Hedged) (HBND.TO) is 2.71%, while Enbridge Inc. (ENB.TO) has a volatility of 5.88%. This indicates that HBND.TO experiences smaller price fluctuations and is considered to be less risky than ENB.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 | ENB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.71% | 5.88% | -3.17% |
Volatility (6M)Calculated over the trailing 6-month period | 5.72% | 12.67% | -6.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.70% | 15.60% | -6.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.33% | 15.67% | -4.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.33% | 22.43% | -11.10% |
Dividends
HBND.TO vs. ENB.TO - Dividend Comparison
HBND.TO's dividend yield for the trailing twelve months is around 11.31%, more than ENB.TO's 4.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ENB.TO Enbridge Inc. | 4.85% | 5.74% | 6.00% | 7.45% | 6.50% | 6.76% | 7.96% | 5.72% | 6.33% | 4.91% | 3.75% | 4.04% |
HBND.TO Hamilton U.S. Bond YIELD MAXIMIZER ETF (CAD Hedged) | 11.31% | 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 ENB.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.
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