HDIF.TO vs. CBNK.TO
HDIF.TO (Harvest Diversified Monthly Income ETF - Class A Units) and CBNK.TO (Mulvihill Canadian Bank Enhanced Yield ETF) are both Derivative Income funds. Both are actively managed. Over the past 3 years, HDIF.TO returned 18.30%/yr vs 38.97%/yr for CBNK.TO. A 0.62 correlation means they provide meaningful diversification when combined.
Performance
HDIF.TO vs. CBNK.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HDIF.TO achieves a 11.54% return, which is significantly lower than CBNK.TO's 25.56% return.
HDIF.TO
- 1D
- -0.73%
- 1M
- 6.52%
- YTD
- 11.54%
- 6M
- 12.52%
- 1Y
- 28.86%
- 3Y*
- 18.30%
- 5Y*
- —
- 10Y*
- —
CBNK.TO
- 1D
- 0.42%
- 1M
- 7.74%
- YTD
- 25.56%
- 6M
- 32.17%
- 1Y
- 79.20%
- 3Y*
- 38.97%
- 5Y*
- —
- 10Y*
- —
HDIF.TO vs. CBNK.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HDIF.TO Harvest Diversified Monthly Income ETF - Class A Units | 11.54% | 15.61% | 18.52% | 12.79% | -12.09% |
CBNK.TO Mulvihill Canadian Bank Enhanced Yield ETF | 25.56% | 51.67% | 27.42% | 8.42% | -19.87% |
Correlation
The correlation between HDIF.TO and CBNK.TO is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2022 | 0.62 |
The correlation between HDIF.TO and CBNK.TO has been stable across timeframes, ranging from 0.57 to 0.63 - a consistent structural relationship.
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Return for Risk
HDIF.TO vs. CBNK.TO — Risk / Return Rank
HDIF.TO
CBNK.TO
HDIF.TO vs. CBNK.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harvest Diversified Monthly Income ETF - Class A Units (HDIF.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.
| HDIF.TO | CBNK.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.83 | ||
| Sortino ratioReturn per unit of downside risk | -3.65 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.87 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | 3.30 | 7.94 | -4.64 |
| Martin ratioReturn relative to average drawdown | 13.66 | 34.25 | -20.59 |
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
| HDIF.TO | CBNK.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.29 | 5.12 | -2.83 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 1.10 | -0.56 |
Drawdowns
HDIF.TO vs. CBNK.TO - Drawdown Comparison
The maximum HDIF.TO drawdown since its inception was -24.07%, smaller than the maximum CBNK.TO drawdown of -32.12%. Use the drawdown chart below to compare losses from any high point for HDIF.TO and CBNK.TO.
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Drawdown Indicators
| HDIF.TO | CBNK.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.07% | -32.12% | +8.05% |
Max Drawdown (1Y)Largest decline over 1 year | -8.79% | -10.03% | +1.24% |
Max Drawdown (3Y)Largest decline over 3 years | -19.60% | -17.92% | -1.68% |
Current DrawdownCurrent decline from peak | -0.73% | -2.29% | +1.56% |
Average DrawdownAverage peak-to-trough decline | -6.65% | -10.92% | +4.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.12% | 2.32% | -0.20% |
Volatility
HDIF.TO vs. CBNK.TO - Volatility Comparison
The current volatility for Harvest Diversified Monthly Income ETF - Class A Units (HDIF.TO) is 3.50%, while Mulvihill Canadian Bank Enhanced Yield ETF (CBNK.TO) has a volatility of 5.67%. This indicates that HDIF.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
| HDIF.TO | CBNK.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.50% | 5.67% | -2.17% |
Volatility (6M)Calculated over the trailing 6-month period | 10.37% | 13.29% | -2.92% |
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 | 17.49% | 17.55% | -0.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.49% | 17.55% | -0.06% |
Dividends
HDIF.TO vs. CBNK.TO - Dividend Comparison
HDIF.TO's dividend yield for the trailing twelve months is around 10.21%, more 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% |
HDIF.TO Harvest Diversified Monthly Income ETF - Class A Units | 10.21% | 9.93% | 10.15% | 10.62% | 8.95% |
Frequently Asked Questions
HDIF.TO and CBNK.TO have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Harvest and Mulvihill.
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