HDIF.TO vs. HBIL.TO
HDIF.TO (Harvest Diversified Monthly Income ETF - Class A Units) and HBIL.TO (Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged)) are both Derivative Income funds. Both are actively managed. Over the past year, HDIF.TO returned 28.86% vs 2.87% for HBIL.TO. At a 0.19 correlation, their price movements are largely independent. HDIF.TO charges 2.47%/yr vs 0.35%/yr for HBIL.TO.
Performance
HDIF.TO vs. HBIL.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 higher than HBIL.TO's 0.59% return.
HDIF.TO
- 1D
- -0.73%
- 1M
- 6.52%
- YTD
- 11.54%
- 6M
- 12.52%
- 1Y
- 28.86%
- 3Y*
- 18.30%
- 5Y*
- —
- 10Y*
- —
HBIL.TO
- 1D
- 0.00%
- 1M
- 0.23%
- YTD
- 0.59%
- 6M
- 0.53%
- 1Y
- 2.87%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HDIF.TO vs. HBIL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HDIF.TO Harvest Diversified Monthly Income ETF - Class A Units | 11.54% | 15.61% | 2.74% |
HBIL.TO Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged) | 0.59% | 3.05% | -1.40% |
Correlation
The correlation between HDIF.TO and HBIL.TO is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Sep 17, 2024 | 0.19 |
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Return for Risk
HDIF.TO vs. HBIL.TO — Risk / Return Rank
HDIF.TO
HBIL.TO
HDIF.TO vs. HBIL.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 Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged) (HBIL.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 | HBIL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.55 | ||
| Sortino ratioReturn per unit of downside risk | +0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.34 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.30 | 3.03 | +0.27 |
| Martin ratioReturn relative to average drawdown | 13.66 | 9.74 | +3.93 |
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 | HBIL.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.29 | 1.74 | +0.55 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.64 | -0.10 |
Drawdowns
HDIF.TO vs. HBIL.TO - Drawdown Comparison
The maximum HDIF.TO drawdown since its inception was -24.07%, which is greater than HBIL.TO's maximum drawdown of -1.69%. Use the drawdown chart below to compare losses from any high point for HDIF.TO and HBIL.TO.
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Drawdown Indicators
| HDIF.TO | HBIL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.07% | -1.69% | -22.38% |
Max Drawdown (1Y)Largest decline over 1 year | -8.79% | -0.95% | -7.84% |
Max Drawdown (3Y)Largest decline over 3 years | -19.60% | — | — |
Current DrawdownCurrent decline from peak | -0.73% | -0.31% | -0.42% |
Average DrawdownAverage peak-to-trough decline | -6.65% | -0.48% | -6.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.12% | 0.30% | +1.82% |
Volatility
HDIF.TO vs. HBIL.TO - Volatility Comparison
Harvest Diversified Monthly Income ETF - Class A Units (HDIF.TO) has a higher volatility of 3.50% compared to Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged) (HBIL.TO) at 0.62%. This indicates that HDIF.TO's price experiences larger fluctuations and is considered to be riskier than HBIL.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 | HBIL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.50% | 0.62% | +2.88% |
Volatility (6M)Calculated over the trailing 6-month period | 10.37% | 1.24% | +9.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.67% | 1.66% | +11.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.49% | 2.03% | +15.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.49% | 2.03% | +15.46% |
HDIF.TO vs. HBIL.TO - Expense Ratio Comparison
HDIF.TO has a 2.47% expense ratio, which is higher than HBIL.TO's 0.35% expense ratio.
Dividends
HDIF.TO vs. HBIL.TO - Dividend Comparison
HDIF.TO's dividend yield for the trailing twelve months is around 10.21%, more than HBIL.TO's 6.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
HBIL.TO Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged) | 6.52% | 7.49% | 2.58% | 0.00% | 0.00% |
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 HBIL.TO have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HBIL.TO is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HBIL.TO is cheaper with a 0.35% expense ratio, compared with 2.47% for HDIF.TO.
They also come from different issuers: Harvest and Hamilton Capital. Their fees differ too: 2.47% for HDIF.TO and 0.35% for HBIL.TO.
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