HCAL.TO vs. SOXU.TO

Last updated Jun 4, 2026

HCAL.TO (Hamilton Enhanced Canadian Bank ETF) and SOXU.TO (MegaLong (3X) US Semiconductors Daily Leveraged Alternative ETF) are both Leveraged Equities funds - HCAL.TO tracks the Solactive Equal Weight Canada Banks Index (125%) while SOXU.TO tracks the Solactive US Semiconductor 30 Capped Index. Both are passively managed. Over the past year, HCAL.TO returned 76.99% vs 1478.72% for SOXU.TO. At a 0.38 correlation, their price movements are largely independent. HCAL.TO charges 0.65%/yr vs 1.81%/yr for SOXU.TO.

Performance

HCAL.TO vs. SOXU.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Hamilton Enhanced Canadian Bank ETF (HCAL.TO) and MegaLong (3X) US Semiconductors Daily Leveraged Alternative ETF (SOXU.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HCAL.TO achieves a 23.54% return, which is significantly lower than SOXU.TO's 504.91% return.

HCAL.TO

• 1D: -0.43%
• 1M: 6.76%
• YTD: 23.54%
• 6M: 30.66%
• 1Y: 76.99%
• 3Y*: 39.62%
• 5Y*: 20.76%
• 10Y*: —

SOXU.TO

• 1D: 17.70%
• 1M: 107.56%
• YTD: 504.91%
• 6M: 480.90%
• 1Y: 1,478.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HCAL.TO vs. SOXU.TO - Yearly Performance Comparison

	2026 (YTD)	2025
HCAL.TO Hamilton Enhanced Canadian Bank ETF	23.54%	46.66%
SOXU.TO MegaLong (3X) US Semiconductors Daily Leveraged Alternative ETF	504.91%	169.76%

Correlation

The correlation between HCAL.TO and SOXU.TO is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (All Time) Calculated using the full available price history since May 26, 2025	0.38

Return for Risk

HCAL.TO vs. SOXU.TO — Risk / Return Rank

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

HCAL.TO

HCAL.TO Risk / Return Rank: 96
HCAL.TO Sharpe Ratio Rank: 97
HCAL.TO Sortino Ratio Rank: 97
HCAL.TO Omega Ratio Rank: 97
HCAL.TO Calmar Ratio Rank: 94
HCAL.TO Martin Ratio Rank: 95

SOXU.TO

SOXU.TO Risk / Return Rank: 98
SOXU.TO Sharpe Ratio Rank: 100
SOXU.TO Sortino Ratio Rank: 95
SOXU.TO Omega Ratio Rank: 95
SOXU.TO Calmar Ratio Rank: 99
SOXU.TO Martin Ratio Rank: 99

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.

HCAL.TO vs. SOXU.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hamilton Enhanced Canadian Bank ETF (HCAL.TO) and MegaLong (3X) US Semiconductors Daily Leveraged Alternative ETF (SOXU.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.

	HCAL.TO	SOXU.TO	Difference
Sharpe ratio Return per unit of total volatility	4.89	14.71	-9.82
Sortino ratio Return per unit of downside risk	6.36	5.28	+1.08
Omega ratio Gain probability vs. loss probability	1.88	1.73	+0.15
Calmar ratio Return relative to maximum drawdown	7.26	34.56	-27.30
Martin ratio Return relative to average drawdown	31.55	116.50	-84.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HCAL.TO vs. SOXU.TO - Sharpe Ratio Comparison

The current HCAL.TO Sharpe Ratio is 4.89, which is lower than the SOXU.TO Sharpe Ratio of 14.71. The chart below compares the historical Sharpe Ratios of HCAL.TO and SOXU.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

	HCAL.TO	SOXU.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.89	14.71	-9.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.22	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.64	14.29	-12.65

Drawdowns

HCAL.TO vs. SOXU.TO - Drawdown Comparison

The maximum HCAL.TO drawdown since its inception was -35.05%, smaller than the maximum SOXU.TO drawdown of -42.78%. Use the drawdown chart below to compare losses from any high point for HCAL.TO and SOXU.TO.

Drawdown Indicators

	HCAL.TO	SOXU.TO	Difference
Max Drawdown Largest peak-to-trough decline	-35.05%	-42.78%	+7.73%
Max Drawdown (1Y) Largest decline over 1 year	-10.65%	-42.78%	+32.13%
Max Drawdown (3Y) Largest decline over 3 years	-18.77%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-35.05%	—	—
Current Drawdown Current decline from peak	-2.42%	0.00%	-2.42%
Average Drawdown Average peak-to-trough decline	-9.62%	-8.31%	-1.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.45%	12.69%	-10.24%

Volatility

HCAL.TO vs. SOXU.TO - Volatility Comparison

The current volatility for Hamilton Enhanced Canadian Bank ETF (HCAL.TO) is 6.05%, while MegaLong (3X) US Semiconductors Daily Leveraged Alternative ETF (SOXU.TO) has a volatility of 40.59%. This indicates that HCAL.TO experiences smaller price fluctuations and is considered to be less risky than SOXU.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HCAL.TO	SOXU.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.05%	40.59%	-34.54%
Volatility (6M) Calculated over the trailing 6-month period	14.08%	81.12%	-67.04%
Volatility (1Y) Calculated over the trailing 1-year period	15.82%	101.73%	-85.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.16%	101.32%	-84.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.00%	101.32%	-84.32%

HCAL.TO vs. SOXU.TO - Expense Ratio Comparison

HCAL.TO has a 0.65% expense ratio, which is lower than SOXU.TO's 1.81% expense ratio.

Dividends

HCAL.TO vs. SOXU.TO - Dividend Comparison

HCAL.TO's dividend yield for the trailing twelve months is around 3.49%, while SOXU.TO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
HCAL.TO Hamilton Enhanced Canadian Bank ETF	3.49%	4.20%	6.12%	7.37%	7.47%	4.99%	3.14%
SOXU.TO MegaLong (3X) US Semiconductors Daily Leveraged Alternative ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HCAL.TO and SOXU.TO in my portfolio?

HCAL.TO and SOXU.TO have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HCAL.TO or SOXU.TO?

On fees, HCAL.TO is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HCAL.TO or SOXU.TO?

HCAL.TO is cheaper with a 0.65% expense ratio, compared with 1.81% for SOXU.TO.

What is the main difference between HCAL.TO and SOXU.TO?

HCAL.TO tracks Solactive Equal Weight Canada Banks Index (125%), while SOXU.TO tracks Solactive US Semiconductor 30 Capped Index. They also come from different issuers: Hamilton Capital and LongPoint. Their fees differ too: 0.65% for HCAL.TO and 1.81% for SOXU.TO.