HDIV.TO vs. HBIL.TO
HDIV.TO (Hamilton Enhanced Multi-Sector Covered Call ETF) and HBIL.TO (Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged)) are both Derivative Income funds from Hamilton Capital. Both are actively managed. Over the past year, HDIV.TO returned 45.50% vs 2.87% for HBIL.TO. At a 0.14 correlation, their price movements are largely independent. HDIV.TO charges 0.00%/yr vs 0.35%/yr for HBIL.TO.
Performance
HDIV.TO vs. HBIL.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HDIV.TO achieves a 16.21% return, which is significantly higher than HBIL.TO's 0.59% return.
HDIV.TO
- 1D
- -0.26%
- 1M
- 6.14%
- YTD
- 16.21%
- 6M
- 17.63%
- 1Y
- 45.50%
- 3Y*
- 27.58%
- 5Y*
- —
- 10Y*
- —
HBIL.TO
- 1D
- 0.00%
- 1M
- 0.23%
- YTD
- 0.59%
- 6M
- 0.53%
- 1Y
- 2.87%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HDIV.TO vs. HBIL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HDIV.TO Hamilton Enhanced Multi-Sector Covered Call ETF | 16.21% | 33.87% | 4.12% |
HBIL.TO Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged) | 0.59% | 3.05% | -1.40% |
Correlation
The correlation between HDIV.TO and HBIL.TO is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Sep 17, 2024 | 0.14 |
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Return for Risk
HDIV.TO vs. HBIL.TO — Risk / Return Rank
HDIV.TO
HBIL.TO
HDIV.TO vs. HBIL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hamilton Enhanced Multi-Sector Covered Call ETF (HDIV.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.
| HDIV.TO | HBIL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.93 | ||
| Sortino ratioReturn per unit of downside risk | +1.99 | ||
| Omega ratioGain probability vs. loss probability | 1.68 | 1.34 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 5.24 | 3.03 | +2.21 |
| Martin ratioReturn relative to average drawdown | 25.39 | 9.74 | +15.65 |
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
| HDIV.TO | HBIL.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.67 | 1.74 | +1.93 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.26 | 0.64 | +0.63 |
Drawdowns
HDIV.TO vs. HBIL.TO - Drawdown Comparison
The maximum HDIV.TO drawdown since its inception was -22.32%, 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 HDIV.TO and HBIL.TO.
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Drawdown Indicators
| HDIV.TO | HBIL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.32% | -1.69% | -20.63% |
Max Drawdown (1Y)Largest decline over 1 year | -8.73% | -0.95% | -7.78% |
Max Drawdown (3Y)Largest decline over 3 years | -14.58% | — | — |
Current DrawdownCurrent decline from peak | -0.63% | -0.31% | -0.32% |
Average DrawdownAverage peak-to-trough decline | -4.22% | -0.48% | -3.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.80% | 0.30% | +1.50% |
Volatility
HDIV.TO vs. HBIL.TO - Volatility Comparison
Hamilton Enhanced Multi-Sector Covered Call ETF (HDIV.TO) has a higher volatility of 3.80% compared to Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged) (HBIL.TO) at 0.62%. This indicates that HDIV.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
| HDIV.TO | HBIL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.80% | 0.62% | +3.18% |
Volatility (6M)Calculated over the trailing 6-month period | 10.29% | 1.24% | +9.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.47% | 1.66% | +10.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.63% | 2.03% | +13.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.63% | 2.03% | +13.60% |
HDIV.TO vs. HBIL.TO - Expense Ratio Comparison
HDIV.TO has a 0.00% expense ratio, which is lower than HBIL.TO's 0.35% expense ratio.
Dividends
HDIV.TO vs. HBIL.TO - Dividend Comparison
HDIV.TO's dividend yield for the trailing twelve months is around 9.33%, more than HBIL.TO's 6.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
HBIL.TO Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged) | 6.52% | 7.49% | 2.58% | 0.00% | 0.00% | 0.00% |
HDIV.TO Hamilton Enhanced Multi-Sector Covered Call ETF | 9.33% | 10.09% | 11.38% | 10.41% | 9.64% | 3.39% |
Frequently Asked Questions
HDIV.TO and HBIL.TO have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HDIV.TO is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HDIV.TO is cheaper with a 0.00% expense ratio, compared with 0.35% for HBIL.TO.
Their fees differ too: 0.00% for HDIV.TO and 0.35% for HBIL.TO.
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