HBNK.TO vs. CBNK.TO
HBNK.TO (Global X Equal Weight Banks Index ETF) and CBNK.TO (Mulvihill Canadian Bank Enhanced Yield ETF) are both exchange-traded funds - HBNK.TO is a Financials Equities fund tracking the Solactive Equal Weight Canada Banks Index, while CBNK.TO is a Derivative Income fund actively managed by Mulvihill. HBNK.TO is passively managed, while CBNK.TO is actively managed. Over the past year, HBNK.TO returned 60.09% vs 79.20% for CBNK.TO. Their correlation of 0.90 suggests significant overlap in exposure.
Performance
HBNK.TO vs. CBNK.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HBNK.TO achieves a 18.85% return, which is significantly lower than CBNK.TO's 25.56% return.
HBNK.TO
- 1D
- -0.88%
- 1M
- 5.21%
- YTD
- 18.85%
- 6M
- 24.41%
- 1Y
- 60.09%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CBNK.TO
- 1D
- 0.42%
- 1M
- 7.74%
- YTD
- 25.56%
- 6M
- 32.17%
- 1Y
- 79.20%
- 3Y*
- 38.97%
- 5Y*
- —
- 10Y*
- —
HBNK.TO vs. CBNK.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HBNK.TO Global X Equal Weight Banks Index ETF | 18.85% | 43.71% | 24.77% | 8.99% |
CBNK.TO Mulvihill Canadian Bank Enhanced Yield ETF | 25.56% | 51.67% | 27.42% | 7.70% |
Correlation
The correlation between HBNK.TO and CBNK.TO is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Jul 10, 2023 | 0.90 |
The correlation between HBNK.TO and CBNK.TO has been stable across timeframes, ranging from 0.87 to 0.90 - a consistent structural relationship.
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Return for Risk
HBNK.TO vs. CBNK.TO — Risk / Return Rank
HBNK.TO
CBNK.TO
HBNK.TO vs. CBNK.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Equal Weight Banks Index ETF (HBNK.TO) and Mulvihill Canadian Bank Enhanced Yield ETF (CBNK.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.
| HBNK.TO | CBNK.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.88 | 1.87 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 7.13 | 7.94 | -0.81 |
| Martin ratioReturn relative to average drawdown | 30.99 | 34.25 | -3.27 |
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
| HBNK.TO | CBNK.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.77 | 5.12 | -0.35 |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.66 | 1.10 | +1.57 |
Drawdowns
HBNK.TO vs. CBNK.TO - Drawdown Comparison
The maximum HBNK.TO drawdown since its inception was -14.78%, smaller than the maximum CBNK.TO drawdown of -32.12%. Use the drawdown chart below to compare losses from any high point for HBNK.TO and CBNK.TO.
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Drawdown Indicators
| HBNK.TO | CBNK.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.78% | -32.12% | +17.34% |
Max Drawdown (1Y)Largest decline over 1 year | -8.48% | -10.03% | +1.55% |
Max Drawdown (3Y)Largest decline over 3 years | — | -17.92% | — |
Current DrawdownCurrent decline from peak | -2.30% | -2.29% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -2.33% | -10.92% | +8.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.95% | 2.32% | -0.37% |
Volatility
HBNK.TO vs. CBNK.TO - Volatility Comparison
The current volatility for Global X Equal Weight Banks Index ETF (HBNK.TO) is 5.00%, while Mulvihill Canadian Bank Enhanced Yield ETF (CBNK.TO) has a volatility of 5.67%. This indicates that HBNK.TO experiences smaller price fluctuations and is considered to be less risky than CBNK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HBNK.TO | CBNK.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.00% | 5.67% | -0.67% |
Volatility (6M)Calculated over the trailing 6-month period | 11.26% | 13.29% | -2.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.67% | 15.55% | -2.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.70% | 17.55% | -4.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.70% | 17.55% | -4.85% |
Dividends
HBNK.TO vs. CBNK.TO - Dividend Comparison
HBNK.TO's dividend yield for the trailing twelve months is around 2.82%, less than CBNK.TO's 5.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CBNK.TO Mulvihill Canadian Bank Enhanced Yield ETF | 5.94% | 5.86% | 8.25% | 9.59% | 7.85% |
HBNK.TO Global X Equal Weight Banks Index ETF | 2.82% | 3.24% | 4.15% | 2.45% | 0.00% |
Frequently Asked Questions
HBNK.TO and CBNK.TO have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HBNK.TO is categorized as Financials Equities, while CBNK.TO is Derivative Income. They also come from different issuers: Global X and Mulvihill.
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