HDIV.TO vs. HPYE.TO

Last updated Jun 14, 2026

HDIV.TO (Hamilton Enhanced Canadian Covered Call ETF) and HPYE.TO (Harvest Premium Yield Enhanced ETF) are both Derivative Income funds. Both are actively managed. A 0.60 correlation means they provide meaningful diversification when combined. HDIV.TO charges 0.00%/yr vs 0.65%/yr for HPYE.TO.

Performance

HDIV.TO vs. HPYE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Hamilton Enhanced Canadian Covered Call ETF (HDIV.TO) and Harvest Premium Yield Enhanced ETF (HPYE.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HDIV.TO

• 1D: 1.08%
• 1M: 3.72%
• YTD: 17.07%
• 6M: 17.58%
• 1Y: 45.74%
• 3Y*: 27.78%
• 5Y*: —
• 10Y*: —

HPYE.TO

• 1D: 0.36%
• 1M: 3.48%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

HDIV.TO vs. HPYE.TO - Yearly Performance Comparison

	2026 (YTD)
HDIV.TO Hamilton Enhanced Canadian Covered Call ETF	13.73%
HPYE.TO Harvest Premium Yield Enhanced ETF	10.60%

Correlation

The correlation between HDIV.TO and HPYE.TO is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 21, 2026	0.60

Return for Risk

HDIV.TO vs. HPYE.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HDIV.TO

HDIV.TO Risk / Return Rank: 94
HDIV.TO Sharpe Ratio Rank: 96
HDIV.TO Sortino Ratio Rank: 95
HDIV.TO Omega Ratio Rank: 95
HDIV.TO Calmar Ratio Rank: 91
HDIV.TO Martin Ratio Rank: 95

HPYE.TO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

HDIV.TO vs. HPYE.TO - 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 Premium Yield Enhanced ETF (HPYE.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.

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	HPYE.TO	Difference
Sharpe ratio: Return per unit of total volatility	3.55	—	—
Sortino ratio: Return per unit of downside risk	4.51	—	—
Omega ratio: Gain probability vs. loss probability	1.65	—	—
Calmar ratio: Return relative to maximum drawdown	5.23	—	—
Martin ratio: Return relative to average drawdown	25.02	—	—

Drawdowns

HDIV.TO vs. HPYE.TO - Drawdown Comparison

The maximum HDIV.TO drawdown since its inception was -22.32%, which is greater than HPYE.TO's maximum drawdown of -5.51%. Use the drawdown chart below to compare losses from any high point for HDIV.TO and HPYE.TO.

Drawdown Indicators

	HDIV.TO	HPYE.TO	Difference
Max Drawdown Largest peak-to-trough decline	-22.32%	-5.51%	-16.81%
Max Drawdown (1Y) Largest decline over 1 year	-8.73%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-14.58%	—	—
Current Drawdown Current decline from peak	-0.13%	-0.52%	+0.39%
Average Drawdown Average peak-to-trough decline	-4.21%	-1.35%	-2.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.82%	—	—

Volatility

Volatility by Period

	HDIV.TO	HPYE.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.51%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.74%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.86%	12.90%	-0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.64%	12.90%	+2.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.64%	12.90%	+2.74%

HDIV.TO vs. HPYE.TO - Expense Ratio Comparison

HDIV.TO has a 0.00% expense ratio, which is lower than HPYE.TO's 0.65% expense ratio.

Dividends

HDIV.TO vs. HPYE.TO - Dividend Comparison

HDIV.TO's dividend yield for the trailing twelve months is around 9.27%, more than HPYE.TO's 5.06% yield.

Position	TTM	2025	2024	2023	2022	2021
HDIV.TO Hamilton Enhanced Canadian Covered Call ETF	9.27%	10.09%	11.38%	10.41%	9.64%	3.37%
HPYE.TO Harvest Premium Yield Enhanced ETF	5.06%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HDIV.TO and HPYE.TO in my portfolio?

HDIV.TO and HPYE.TO have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HDIV.TO or HPYE.TO?

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.

Which ETF is cheaper, HDIV.TO or HPYE.TO?

HDIV.TO is cheaper with a 0.00% expense ratio, compared with 0.65% for HPYE.TO.

What is the main difference between HDIV.TO and HPYE.TO?

They also come from different issuers: Hamilton ETFs and Harvest Portfolios Group. Their fees differ too: 0.00% for HDIV.TO and 0.65% for HPYE.TO.