HDIV.TO vs. HBTE.NEO
HDIV.TO (Hamilton Enhanced Canadian Covered Call ETF) and HBTE.NEO (Harvest Bitcoin Leaders Enhanced Income ETF) are both exchange-traded funds - HDIV.TO is a Derivative Income fund actively managed by Hamilton ETFs, while HBTE.NEO is a Leveraged Cryptocurrency fund actively managed by Harvest. Both are actively managed. Over the past year, HDIV.TO returned 45.74% vs 67.21% for HBTE.NEO. At a 0.50 correlation, their price movements are largely independent. HDIV.TO charges 0.00%/yr vs 0.75%/yr for HBTE.NEO.
Performance
HDIV.TO vs. HBTE.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, HDIV.TO achieves a 17.07% return, which is significantly lower than HBTE.NEO's 28.08% return.
HDIV.TO
- 1D
- 1.08%
- 1M
- 3.72%
- YTD
- 17.07%
- 6M
- 17.58%
- 1Y
- 45.74%
- 3Y*
- 27.78%
- 5Y*
- —
- 10Y*
- —
HBTE.NEO
- 1D
- 2.94%
- 1M
- 4.14%
- YTD
- 28.08%
- 6M
- 14.49%
- 1Y
- 67.21%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HDIV.TO vs. HBTE.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HDIV.TO Hamilton Enhanced Canadian Covered Call ETF | 17.07% | 34.19% |
HBTE.NEO Harvest Bitcoin Leaders Enhanced Income ETF | 28.08% | 63.44% |
Correlation
The correlation between HDIV.TO and HBTE.NEO is 0.51, 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 | 0.51 |
Correlation (All Time) Calculated using the full available price history since Apr 30, 2025 | 0.50 |
The correlation between HDIV.TO and HBTE.NEO has been stable across timeframes, ranging from 0.50 to 0.51 - a consistent structural relationship.
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Return for Risk
HDIV.TO vs. HBTE.NEO — Risk / Return Rank
HDIV.TO
HBTE.NEO
HDIV.TO vs. HBTE.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hamilton Enhanced Canadian Covered Call ETF (HDIV.TO) and Harvest Bitcoin Leaders Enhanced Income ETF (HBTE.NEO). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| HDIV.TO | HBTE.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.60 | ||
| Sortino ratioReturn per unit of downside risk | +2.93 | ||
| Omega ratioGain probability vs. loss probability | 1.65 | 1.19 | +0.46 |
| Calmar ratioReturn relative to maximum drawdown | 5.23 | 1.14 | +4.09 |
| Martin ratioReturn relative to average drawdown | 25.02 | 2.19 | +22.83 |
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Drawdowns
HDIV.TO vs. HBTE.NEO - Drawdown Comparison
The maximum HDIV.TO drawdown since its inception was -22.32%, smaller than the maximum HBTE.NEO drawdown of -55.67%. Use the drawdown chart below to compare losses from any high point for HDIV.TO and HBTE.NEO.
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Drawdown Indicators
| HDIV.TO | HBTE.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.32% | -55.67% | +33.35% |
Max Drawdown (1Y)Largest decline over 1 year | -8.73% | -55.67% | +46.94% |
Max Drawdown (3Y)Largest decline over 3 years | -14.58% | — | — |
Current DrawdownCurrent decline from peak | -0.13% | -24.58% | +24.45% |
Average DrawdownAverage peak-to-trough decline | -4.21% | -21.15% | +16.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.82% | 28.79% | -26.97% |
Volatility
HDIV.TO vs. HBTE.NEO - Volatility Comparison
The current volatility for Hamilton Enhanced Canadian Covered Call ETF (HDIV.TO) is 4.51%, while Harvest Bitcoin Leaders Enhanced Income ETF (HBTE.NEO) has a volatility of 18.57%. This indicates that HDIV.TO experiences smaller price fluctuations and is considered to be less risky than HBTE.NEO 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 | HBTE.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.51% | 18.57% | -14.06% |
Volatility (6M)Calculated over the trailing 6-month period | 10.74% | 50.16% | -39.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.86% | 66.62% | -53.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.64% | 66.35% | -50.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.64% | 66.35% | -50.71% |
HDIV.TO vs. HBTE.NEO - Expense Ratio Comparison
HDIV.TO has a 0.00% expense ratio, which is lower than HBTE.NEO's 0.75% expense ratio.
Dividends
HDIV.TO vs. HBTE.NEO - Dividend Comparison
HDIV.TO's dividend yield for the trailing twelve months is around 9.27%, less than HBTE.NEO's 26.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
HBTE.NEO Harvest Bitcoin Leaders Enhanced Income ETF | 26.16% | 18.40% | 0.00% | 0.00% | 0.00% | 0.00% |
HDIV.TO Hamilton Enhanced Canadian Covered Call ETF | 9.27% | 10.09% | 11.38% | 10.41% | 9.64% | 3.37% |
Frequently Asked Questions
HDIV.TO and HBTE.NEO have a correlation of 0.51, 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 0.75% for HBTE.NEO.
HDIV.TO is categorized as Derivative Income, while HBTE.NEO is Leveraged Cryptocurrency. They also come from different issuers: Hamilton ETFs and Harvest. Their fees differ too: 0.00% for HDIV.TO and 0.75% for HBTE.NEO.
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