HDIV.TO vs. MSTE.TO
HDIV.TO (Hamilton Enhanced Multi-Sector Covered Call ETF) and MSTE.TO (Harvest MicroStrategy Enhanced High Income Shares ETF) are both Derivative Income funds. Both are actively managed. Over the past year, HDIV.TO returned 45.50% vs -71.76% for MSTE.TO. At a 0.39 correlation, their price movements are largely independent. HDIV.TO charges 0.00%/yr vs 0.40%/yr for MSTE.TO.
Performance
HDIV.TO vs. MSTE.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 MSTE.TO's -20.32% return.
HDIV.TO
- 1D
- -0.26%
- 1M
- 6.14%
- YTD
- 16.21%
- 6M
- 17.63%
- 1Y
- 45.50%
- 3Y*
- 27.58%
- 5Y*
- —
- 10Y*
- —
MSTE.TO
- 1D
- -8.67%
- 1M
- -33.14%
- YTD
- -20.32%
- 6M
- -37.71%
- 1Y
- -71.76%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HDIV.TO vs. MSTE.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HDIV.TO Hamilton Enhanced Multi-Sector Covered Call ETF | 16.21% | 32.04% |
MSTE.TO Harvest MicroStrategy Enhanced High Income Shares ETF | -20.32% | -55.56% |
Correlation
The correlation between HDIV.TO and MSTE.TO is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Mar 6, 2025 | 0.39 |
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Return for Risk
HDIV.TO vs. MSTE.TO — Risk / Return Rank
HDIV.TO
MSTE.TO
HDIV.TO vs. MSTE.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 Harvest MicroStrategy Enhanced High Income Shares ETF (MSTE.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 | MSTE.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.60 | ||
| Sortino ratioReturn per unit of downside risk | +6.47 | ||
| Omega ratioGain probability vs. loss probability | 1.68 | 0.81 | +0.87 |
| Calmar ratioReturn relative to maximum drawdown | 5.24 | -0.89 | +6.13 |
| Martin ratioReturn relative to average drawdown | 25.39 | -1.33 | +26.72 |
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 | MSTE.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.67 | -0.93 | +4.60 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.26 | -0.67 | +1.94 |
Drawdowns
HDIV.TO vs. MSTE.TO - Drawdown Comparison
The maximum HDIV.TO drawdown since its inception was -22.32%, smaller than the maximum MSTE.TO drawdown of -80.35%. Use the drawdown chart below to compare losses from any high point for HDIV.TO and MSTE.TO.
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Drawdown Indicators
| HDIV.TO | MSTE.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.32% | -80.35% | +58.03% |
Max Drawdown (1Y)Largest decline over 1 year | -8.73% | -80.35% | +71.62% |
Max Drawdown (3Y)Largest decline over 3 years | -14.58% | — | — |
Current DrawdownCurrent decline from peak | -0.63% | -76.21% | +75.58% |
Average DrawdownAverage peak-to-trough decline | -4.22% | -39.63% | +35.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.80% | 53.78% | -51.98% |
Volatility
HDIV.TO vs. MSTE.TO - Volatility Comparison
The current volatility for Hamilton Enhanced Multi-Sector Covered Call ETF (HDIV.TO) is 3.80%, while Harvest MicroStrategy Enhanced High Income Shares ETF (MSTE.TO) has a volatility of 23.39%. This indicates that HDIV.TO experiences smaller price fluctuations and is considered to be less risky than MSTE.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 | MSTE.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.80% | 23.39% | -19.59% |
Volatility (6M)Calculated over the trailing 6-month period | 10.29% | 63.14% | -52.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.47% | 77.31% | -64.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.63% | 84.31% | -68.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.63% | 84.31% | -68.68% |
HDIV.TO vs. MSTE.TO - Expense Ratio Comparison
HDIV.TO has a 0.00% expense ratio, which is lower than MSTE.TO's 0.40% expense ratio.
Dividends
HDIV.TO vs. MSTE.TO - Dividend Comparison
HDIV.TO's dividend yield for the trailing twelve months is around 9.33%, less than MSTE.TO's 149.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
HDIV.TO Hamilton Enhanced Multi-Sector Covered Call ETF | 9.33% | 10.09% | 11.38% | 10.41% | 9.64% | 3.39% |
MSTE.TO Harvest MicroStrategy Enhanced High Income Shares ETF | 149.64% | 121.40% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HDIV.TO and MSTE.TO have a correlation of 0.36, 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 0.40% for MSTE.TO.
They also come from different issuers: Hamilton Capital and Harvest. Their fees differ too: 0.00% for HDIV.TO and 0.40% for MSTE.TO.
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