HBNK.TO vs. HPYB.TO

Last updated Jul 14, 2026

HBNK.TO (Global X Equal Weight Banks Index ETF) and HPYB.TO (Harvest Premium Yield Canadian Bank ETF) are both exchange-traded funds - HBNK.TO is a Financials Equities fund tracking the Solactive Equal Weight Canada Banks Index, while HPYB.TO is a Derivative Income fund actively managed by Harvest. HBNK.TO is passively managed, while HPYB.TO is actively managed. Their correlation of 0.93 suggests significant overlap in exposure.

Performance

HBNK.TO vs. HPYB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Equal Weight Banks Index ETF (HBNK.TO) and Harvest Premium Yield Canadian Bank ETF (HPYB.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HBNK.TO

• 1D: -0.18%
• 1M: 6.71%
• 6M: 31.93%
• YTD: 33.80%
• 1Y: 70.76%
• 3Y*: 36.94%
• 5Y*: —
• 10Y*: —

HPYB.TO

• 1D: -0.08%
• 1M: 3.60%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

HBNK.TO vs. HPYB.TO - Yearly Performance Comparison

	2026 (YTD)
HBNK.TO Global X Equal Weight Banks Index ETF	33.45%
HPYB.TO Harvest Premium Yield Canadian Bank ETF	17.25%

Correlation

The correlation between HBNK.TO and HPYB.TO is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 21, 2026	0.93

Return for Risk

HBNK.TO vs. HPYB.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HBNK.TO

HBNK.TO Risk / Return Rank: 98
HBNK.TO Sharpe Ratio Rank: 99
HBNK.TO Sortino Ratio Rank: 98
HBNK.TO Omega Ratio Rank: 98
HBNK.TO Calmar Ratio Rank: 97
HBNK.TO Martin Ratio Rank: 97

HPYB.TO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

HBNK.TO vs. HPYB.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 Harvest Premium Yield Canadian Bank ETF (HPYB.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.

	HBNK.TO	HPYB.TO	Difference
Sharpe ratio: Return per unit of total volatility	5.34	—	—
Sortino ratio: Return per unit of downside risk	7.04	—	—
Omega ratio: Gain probability vs. loss probability	1.95	—	—
Calmar ratio: Return relative to maximum drawdown	8.39	—	—
Martin ratio: Return relative to average drawdown	36.37	—	—

Drawdowns

HBNK.TO vs. HPYB.TO - Drawdown Comparison

The maximum HBNK.TO drawdown since its inception was -14.78%, which is greater than HPYB.TO's maximum drawdown of -6.37%. Use the drawdown chart below to compare losses from any high point for HBNK.TO and HPYB.TO.

Drawdown Indicators

	HBNK.TO	HPYB.TO	Difference
Max Drawdown Largest peak-to-trough decline	-14.78%	-6.37%	-8.41%
Max Drawdown (1Y) Largest decline over 1 year	-8.48%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-14.78%	—	—
Current Drawdown Current decline from peak	-0.18%	-0.08%	-0.10%
Average Drawdown Average peak-to-trough decline	-2.25%	-1.11%	-1.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	—	—

Volatility

Volatility by Period

	HBNK.TO	HPYB.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.94%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.57%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	13.35%	11.92%	+1.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.76%	11.92%	+0.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.76%	11.92%	+0.84%

Dividends

HBNK.TO vs. HPYB.TO - Dividend Comparison

HBNK.TO's dividend yield for the trailing twelve months is around 2.53%, less than HPYB.TO's 5.83% yield.

Position	TTM	2025	2024	2023
HBNK.TO Global X Equal Weight Banks Index ETF	2.53%	3.24%	4.15%	2.45%
HPYB.TO Harvest Premium Yield Canadian Bank ETF	5.83%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HBNK.TO and HPYB.TO in my portfolio?

With a correlation of 0.93, HBNK.TO and HPYB.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

What is the main difference between HBNK.TO and HPYB.TO?

HBNK.TO is categorized as Financials Equities, while HPYB.TO is Derivative Income. They also come from different issuers: Global X and Harvest.