HBTE.NEO vs. HDIV.TO

Last updated Jun 4, 2026

HBTE.NEO (Harvest Bitcoin Leaders Enhanced Income ETF) and HDIV.TO (Hamilton Enhanced Canadian Covered Call ETF) are both exchange-traded funds - HBTE.NEO is a Leveraged Cryptocurrency fund actively managed by Harvest, while HDIV.TO is a Derivative Income fund actively managed by Hamilton ETFs. Both are actively managed. Over the past year, HBTE.NEO returned 68.12% vs 45.50% for HDIV.TO. At a 0.48 correlation, their price movements are largely independent. HBTE.NEO charges 0.75%/yr vs 0.00%/yr for HDIV.TO.

Performance

HBTE.NEO vs. HDIV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Harvest Bitcoin Leaders Enhanced Income ETF (HBTE.NEO) and Hamilton Enhanced Canadian Covered Call ETF (HDIV.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HBTE.NEO achieves a 29.23% return, which is significantly higher than HDIV.TO's 16.21% return.

HBTE.NEO

• 1D: -0.99%
• 1M: 11.29%
• YTD: 29.23%
• 6M: 10.47%
• 1Y: 68.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HDIV.TO

• 1D: -0.26%
• 1M: 6.14%
• YTD: 16.21%
• 6M: 17.63%
• 1Y: 45.50%
• 3Y*: 27.58%
• 5Y*: —
• 10Y*: —

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

HBTE.NEO vs. HDIV.TO - Yearly Performance Comparison

	2026 (YTD)	2025
HBTE.NEO Harvest Bitcoin Leaders Enhanced Income ETF	29.23%	60.52%
HDIV.TO Hamilton Enhanced Canadian Covered Call ETF	16.21%	34.33%

Correlation

The correlation between HBTE.NEO and HDIV.TO is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (All Time) Calculated using the full available price history since May 1, 2025	0.48

Return for Risk

HBTE.NEO vs. HDIV.TO — Risk / Return Rank

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

HBTE.NEO

HBTE.NEO Risk / Return Rank: 27
HBTE.NEO Sharpe Ratio Rank: 28
HBTE.NEO Sortino Ratio Rank: 30
HBTE.NEO Omega Ratio Rank: 29
HBTE.NEO Calmar Ratio Rank: 26
HBTE.NEO Martin Ratio Rank: 20

HDIV.TO

HDIV.TO Risk / Return Rank: 92
HDIV.TO Sharpe Ratio Rank: 94
HDIV.TO Sortino Ratio Rank: 93
HDIV.TO Omega Ratio Rank: 94
HDIV.TO Calmar Ratio Rank: 88
HDIV.TO Martin Ratio Rank: 93

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.

HBTE.NEO vs. HDIV.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harvest Bitcoin Leaders Enhanced Income ETF (HBTE.NEO) and Hamilton Enhanced Canadian Covered Call ETF (HDIV.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.

	HBTE.NEO	HDIV.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.03	3.67	-2.64
Sortino ratio: Return per unit of downside risk	1.67	4.70	-3.03
Omega ratio: Gain probability vs. loss probability	1.20	1.68	-0.48
Calmar ratio: Return relative to maximum drawdown	1.23	5.24	-4.01
Martin ratio: Return relative to average drawdown	2.40	25.39	-22.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HBTE.NEO vs. HDIV.TO - Sharpe Ratio Comparison

The current HBTE.NEO Sharpe Ratio is 1.03, which is lower than the HDIV.TO Sharpe Ratio of 3.67. The chart below compares the historical Sharpe Ratios of HBTE.NEO and HDIV.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HBTE.NEO	HDIV.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.03	3.67	-2.64
Sharpe Ratio (All Time) Calculated using the full available price history	1.43	1.26	+0.17

Drawdowns

HBTE.NEO vs. HDIV.TO - Drawdown Comparison

The maximum HBTE.NEO drawdown since its inception was -55.75%, which is greater than HDIV.TO's maximum drawdown of -22.32%. Use the drawdown chart below to compare losses from any high point for HBTE.NEO and HDIV.TO.

Drawdown Indicators

	HBTE.NEO	HDIV.TO	Difference
Max Drawdown Largest peak-to-trough decline	-55.75%	-22.32%	-33.43%
Max Drawdown (1Y) Largest decline over 1 year	-55.75%	-8.73%	-47.02%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.58%	—
Current Drawdown Current decline from peak	-23.92%	-0.63%	-23.29%
Average Drawdown Average peak-to-trough decline	-21.02%	-4.22%	-16.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.52%	1.80%	+26.72%

Volatility

HBTE.NEO vs. HDIV.TO - Volatility Comparison

Harvest Bitcoin Leaders Enhanced Income ETF (HBTE.NEO) has a higher volatility of 15.68% compared to Hamilton Enhanced Canadian Covered Call ETF (HDIV.TO) at 3.80%. This indicates that HBTE.NEO's price experiences larger fluctuations and is considered to be riskier than HDIV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HBTE.NEO	HDIV.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.68%	3.80%	+11.88%
Volatility (6M) Calculated over the trailing 6-month period	50.18%	10.29%	+39.89%
Volatility (1Y) Calculated over the trailing 1-year period	66.86%	12.47%	+54.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.79%	15.63%	+51.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.79%	15.63%	+51.16%

HBTE.NEO vs. HDIV.TO - Expense Ratio Comparison

HBTE.NEO has a 0.75% expense ratio, which is higher than HDIV.TO's 0.00% expense ratio.

Dividends

HBTE.NEO vs. HDIV.TO - Dividend Comparison

HBTE.NEO's dividend yield for the trailing twelve months is around 25.89%, more than HDIV.TO's 9.33% yield.

Position	TTM	2025	2024	2023	2022	2021
HBTE.NEO Harvest Bitcoin Leaders Enhanced Income ETF	25.89%	18.40%	0.00%	0.00%	0.00%	0.00%
HDIV.TO Hamilton Enhanced Canadian Covered Call ETF	9.33%	10.09%	11.38%	10.41%	9.64%	3.39%

Frequently Asked Questions

Can I hold both HBTE.NEO and HDIV.TO in my portfolio?

HBTE.NEO and HDIV.TO have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HBTE.NEO or HDIV.TO?

On fees, HDIV.TO is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HBTE.NEO or HDIV.TO?

HDIV.TO is cheaper with a 0.00% expense ratio, compared with 0.75% for HBTE.NEO.

What is the main difference between HBTE.NEO and HDIV.TO?

HBTE.NEO is categorized as Leveraged Cryptocurrency, while HDIV.TO is Derivative Income. They also come from different issuers: Harvest and Hamilton ETFs. Their fees differ too: 0.75% for HBTE.NEO and 0.00% for HDIV.TO.