HCA.TO vs. CANY.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Hamilton Canadian Bank Mean Reversion Index ETF (HCA.TO) and Evolve Canadian Equity UltraYield ETF (CANY.TO).

HCA.TO and CANY.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HCA.TO is a passively managed fund by Hamilton that tracks the performance of the Solactive Canadian Bank Mean Reversion Index. It was launched on Jun 26, 2020. CANY.TO is an actively managed fund by Evolve. It was launched on Sep 17, 2025.

Performance

HCA.TO vs. CANY.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Hamilton Canadian Bank Mean Reversion Index ETF (HCA.TO) and Evolve Canadian Equity UltraYield ETF (CANY.TO). The values are adjusted to include any dividend payments, if applicable.

HCA.TO vs. CANY.TO - Yearly Performance Comparison

	2026 (YTD)	2025
HCA.TO Hamilton Canadian Bank Mean Reversion Index ETF	-0.14%	12.18%
CANY.TO Evolve Canadian Equity UltraYield ETF	1.73%	5.75%

Returns By Period

In the year-to-date period, HCA.TO achieves a -0.14% return, which is significantly lower than CANY.TO's 1.73% return.

HCA.TO

• 1D: 0.00%
• 1M: -5.78%
• YTD: -0.14%
• 6M: 11.27%
• 1Y: 48.91%
• 3Y*: 34.39%
• 5Y*: 25.85%
• 10Y*: —

CANY.TO

• 1D: 2.98%
• 1M: -1.92%
• YTD: 1.73%
• 6M: 6.64%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HCA.TO vs. CANY.TO - Expense Ratio Comparison

HCA.TO has a 0.45% expense ratio, which is higher than CANY.TO's 0.40% expense ratio.

HCA.TO

Hamilton Canadian Bank Mean Reversion Index ETF

CANY.TO

Evolve Canadian Equity UltraYield ETF

Return for Risk

HCA.TO vs. CANY.TO — Risk / Return Rank

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

HCA.TO

HCA.TO Risk / Return Rank: 98
HCA.TO Sharpe Ratio Rank: 98
HCA.TO Sortino Ratio Rank: 98
HCA.TO Omega Ratio Rank: 98
HCA.TO Calmar Ratio Rank: 98
HCA.TO Martin Ratio Rank: 98

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.

HCA.TO vs. CANY.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hamilton Canadian Bank Mean Reversion Index ETF (HCA.TO) and Evolve Canadian Equity UltraYield ETF (CANY.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.

	HCA.TO	CANY.TO	Difference
Sharpe ratio Return per unit of total volatility	3.65	—	—
Sortino ratio Return per unit of downside risk	4.94	—	—
Omega ratio Gain probability vs. loss probability	1.73	—	—
Calmar ratio Return relative to maximum drawdown	5.74	—	—
Martin ratio Return relative to average drawdown	23.87	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	HCA.TO	CANY.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.65	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.75	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.99	0.83	+1.16

Correlation

The correlation between HCA.TO and CANY.TO is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

HCA.TO vs. CANY.TO - Dividend Comparison

HCA.TO's dividend yield for the trailing twelve months is around 3.46%, less than CANY.TO's 11.28% yield.

	TTM	2025	2024	2023	2022	2021	2020
HCA.TO Hamilton Canadian Bank Mean Reversion Index ETF	3.46%	5.59%	15.89%	20.26%	16.23%	11.79%	3.54%
CANY.TO Evolve Canadian Equity UltraYield ETF	11.28%	5.87%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

HCA.TO vs. CANY.TO - Drawdown Comparison

The maximum HCA.TO drawdown since its inception was -17.82%, which is greater than CANY.TO's maximum drawdown of -8.34%. Use the drawdown chart below to compare losses from any high point for HCA.TO and CANY.TO.

Drawdown Indicators

	HCA.TO	CANY.TO	Difference
Max Drawdown Largest peak-to-trough decline	-17.82%	-8.34%	-9.48%
Max Drawdown (1Y) Largest decline over 1 year	-8.52%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-17.82%	—	—
Current Drawdown Current decline from peak	-7.83%	-3.83%	-4.00%
Average Drawdown Average peak-to-trough decline	-3.43%	-2.48%	-0.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.05%	—	—

Volatility

Volatility by Period

	HCA.TO	CANY.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.12%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.86%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	13.45%	18.03%	-4.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.86%	18.03%	-3.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.04%	18.03%	-2.99%