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HDIF.TO vs. XDIV.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HDIF.TO vs. XDIV.TO

Last updated Jun 4, 2026

HDIF.TO (Harvest Diversified Monthly Income ETF - Class A Units) and XDIV.TO (iShares Core MSCI Canadian Quality Dividend Index ETF) are both exchange-traded funds - HDIF.TO is a Derivative Income fund actively managed by Harvest, while XDIV.TO is a Dividend fund tracking the MSCI Canada High Dividend Yield 10% Security Capped Index. HDIF.TO is actively managed, while XDIV.TO is passively managed. Over the past 3 years, HDIF.TO returned 18.30%/yr vs 22.97%/yr for XDIV.TO. A 0.65 correlation means they provide meaningful diversification when combined. HDIF.TO charges 2.47%/yr vs 0.11%/yr for XDIV.TO.

Performance

HDIF.TO vs. XDIV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Harvest Diversified Monthly Income ETF - Class A Units (HDIF.TO) and iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.TO). The values are adjusted to include any dividend payments, if applicable.

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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 XDIV.TO's 19.17% return.

HDIF.TO

1D
-0.73%
1M
6.52%
YTD
11.54%
6M
12.52%
1Y
28.86%
3Y*
18.30%
5Y*
—
10Y*
—

XDIV.TO

1D
0.19%
1M
3.65%
YTD
19.17%
6M
18.94%
1Y
38.61%
3Y*
22.97%
5Y*
16.42%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

HDIF.TO vs. XDIV.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022
HDIF.TO
Harvest Diversified Monthly Income ETF - Class A Units		11.54%15.61%18.52%12.79%-15.12%
XDIV.TO
iShares Core MSCI Canadian Quality Dividend Index ETF		19.17%24.92%19.56%11.71%-5.05%

Correlation

The correlation between HDIF.TO and XDIV.TO is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.46

Correlation (3Y)
Calculated over the trailing 3-year period

0.63

Correlation (All Time)
Calculated using the full available price history since Feb 17, 2022

0.65

The correlation between HDIF.TO and XDIV.TO shifts across timeframes, from 0.46 (1 year) to 0.65 (all time), reflecting how their relationship changes across market environments.

HDIF.TO vs. XDIV.TO - Sectors Allocation Comparison

Sectors
HDIF.TO
XDIV.TO

Technology

27.6%
1.3%

Financial Services

15.6%
46.7%

Healthcare

11.4%

-

Communication Services

10.3%
0.4%

Consumer Cyclical

9.7%
11.5%

Industrials

9.4%

-

Energy

5.3%
28.8%

Utilities

5.0%
11.3%

Consumer Defensive

3.9%

-

Basic Materials

1.1%

-

Real Estate

0.8%

-

Technology

HDIF.TO
27.6%
XDIV.TO
1.3%

Financial Services

HDIF.TO
15.6%
XDIV.TO
46.7%

Healthcare

HDIF.TO
11.4%
XDIV.TO

-

Communication Services

HDIF.TO
10.3%
XDIV.TO
0.4%

Consumer Cyclical

HDIF.TO
9.7%
XDIV.TO
11.5%

Industrials

HDIF.TO
9.4%
XDIV.TO

-

Energy

HDIF.TO
5.3%
XDIV.TO
28.8%

Utilities

HDIF.TO
5.0%
XDIV.TO
11.3%

Consumer Defensive

HDIF.TO
3.9%
XDIV.TO

-

Basic Materials

HDIF.TO
1.1%
XDIV.TO

-

Real Estate

HDIF.TO
0.8%
XDIV.TO

-

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Harvest Diversified Monthly Income ETF - Class A Units

iShares Core MSCI Canadian Quality Dividend Index ETF

Often compared with HDIF.TO:
HDIF.TO vs. HDIV.TOHDIF.TO vs. HYLD.TOHDIF.TO vs. XEQT.TOHDIF.TO vs. HTAE.TOHDIF.TO vs. MQQQHDIF.TO vs. ZMMK.TOHDIF.TO vs. VDY.TO
Often compared with XDIV.TO:
XDIV.TO vs. VDY.TOXDIV.TO vs. XEI.TOXDIV.TO vs. XDV.TOXDIV.TO vs. XEQT.TOXDIV.TO vs. HDIV.TOXDIV.TO vs. XIU.TOXDIV.TO vs. CDZ.TO

Return for Risk

HDIF.TO vs. XDIV.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HDIF.TO
HDIF.TO Risk / Return Rank: 6868
Overall Rank
HDIF.TO Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
HDIF.TO Sortino Ratio Rank: 6666
Sortino Ratio Rank
HDIF.TO Omega Ratio Rank: 6868
Omega Ratio Rank
HDIF.TO Calmar Ratio Rank: 6666
Calmar Ratio Rank
HDIF.TO Martin Ratio Rank: 7272
Martin Ratio Rank
XDIV.TO
XDIV.TO Risk / Return Rank: 9898
Overall Rank
XDIV.TO Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
XDIV.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
XDIV.TO Omega Ratio Rank: 9898
Omega Ratio Rank
XDIV.TO Calmar Ratio Rank: 9898
Calmar Ratio Rank
XDIV.TO Martin Ratio Rank: 9898
Martin Ratio Rank
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.

HDIF.TO vs. XDIV.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 iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.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.TOXDIV.TODifference
Sharpe ratioReturn per unit of total volatility
2.29
4.94

-2.65

Sortino ratioReturn per unit of downside risk
3.11
7.29

-4.18

Omega ratioGain probability vs. loss probability

1.42

2.03

-0.61

Calmar ratioReturn relative to maximum drawdown

3.30

16.64

-13.34

Martin ratioReturn relative to average drawdown

13.66

56.55

-42.88

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HDIF.TO vs. XDIV.TO - Sharpe Ratio Comparison

The current HDIF.TO Sharpe Ratio is 2.29, which is lower than the XDIV.TO Sharpe Ratio of 4.94. The chart below compares the historical Sharpe Ratios of HDIF.TO and XDIV.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.

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Sharpe Ratios by Period

HDIF.TOXDIV.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.29

4.94

-2.65

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

1.57

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.53

0.81

-0.28

Drawdowns

HDIF.TO vs. XDIV.TO - Drawdown Comparison

The maximum HDIF.TO drawdown since its inception was -24.07%, smaller than the maximum XDIV.TO drawdown of -41.30%. Use the drawdown chart below to compare losses from any high point for HDIF.TO and XDIV.TO.

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Drawdown Indicators

HDIF.TOXDIV.TODifference

Max Drawdown

Largest peak-to-trough decline

-24.07%

-41.30%

+17.23%

Max Drawdown (1Y)

Largest decline over 1 year

-8.79%

-2.33%

-6.46%

Max Drawdown (3Y)

Largest decline over 3 years

-19.60%

-10.53%

-9.07%

Max Drawdown (5Y)

Largest decline over 5 years

—

-17.60%

—

Current Drawdown

Current decline from peak

-0.73%

-0.09%

-0.64%

Average Drawdown

Average peak-to-trough decline

-6.65%

-4.25%

-2.40%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.12%

0.69%

+1.43%

Volatility

HDIF.TO vs. XDIV.TO - Volatility Comparison

Harvest Diversified Monthly Income ETF - Class A Units (HDIF.TO) has a higher volatility of 3.50% compared to iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.TO) at 2.81%. This indicates that HDIF.TO's price experiences larger fluctuations and is considered to be riskier than XDIV.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.TOXDIV.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.50%

2.81%

+0.69%

Volatility (6M)

Calculated over the trailing 6-month period

10.37%

6.36%

+4.01%

Volatility (1Y)

Calculated over the trailing 1-year period

12.67%

7.85%

+4.82%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.49%

10.53%

+6.96%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.49%

16.01%

+1.48%

HDIF.TO vs. XDIV.TO - Expense Ratio Comparison

HDIF.TO has a 2.47% expense ratio, which is higher than XDIV.TO's 0.11% expense ratio.

Dividends

HDIF.TO vs. XDIV.TO - Dividend Comparison

HDIF.TO's dividend yield for the trailing twelve months is around 10.21%, more than XDIV.TO's 3.28% yield.

PositionTTM202520242023202220212020201920182017
HDIF.TO
Harvest Diversified Monthly Income ETF - Class A Units		10.21%9.93%10.15%10.62%8.95%0.00%0.00%0.00%0.00%0.00%
XDIV.TO
iShares Core MSCI Canadian Quality Dividend Index ETF		3.28%3.81%4.29%4.20%3.95%3.58%4.58%4.02%4.85%1.82%

Frequently Asked Questions

HDIF.TO and XDIV.TO have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XDIV.TO is cheaper at 0.11% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XDIV.TO is cheaper with a 0.11% expense ratio, compared with 2.47% for HDIF.TO.

HDIF.TO is categorized as Derivative Income, while XDIV.TO is Dividend. They also come from different issuers: Harvest and iShares. Their fees differ too: 2.47% for HDIF.TO and 0.11% for XDIV.TO.

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