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HDIV.TO vs. XEQT.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HDIV.TO vs. XEQT.TO

Last updated Jun 4, 2026

HDIV.TO (Hamilton Enhanced Multi-Sector Covered Call ETF) and XEQT.TO (iShares Core Equity ETF Portfolio) are both exchange-traded funds - HDIV.TO is a Derivative Income fund actively managed by Hamilton Capital, while XEQT.TO is a Global Equities fund actively managed by iShares. Both are actively managed. Over the past 3 years, HDIV.TO returned 27.58%/yr vs 21.78%/yr for XEQT.TO. Their correlation of 0.81 suggests significant overlap in exposure. HDIV.TO charges 0.00%/yr vs 0.20%/yr for XEQT.TO.

Performance

HDIV.TO vs. XEQT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Hamilton Enhanced Multi-Sector Covered Call ETF (HDIV.TO) and iShares Core Equity ETF Portfolio (XEQT.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, HDIV.TO achieves a 16.21% return, which is significantly higher than XEQT.TO's 12.29% return.

HDIV.TO

1D
-0.26%
1M
6.14%
YTD
16.21%
6M
17.63%
1Y
45.50%
3Y*
27.58%
5Y*
—
10Y*
—

XEQT.TO

1D
-0.56%
1M
5.98%
YTD
12.29%
6M
11.20%
1Y
29.24%
3Y*
21.78%
5Y*
13.72%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)20252024202320222021
HDIV.TO
Hamilton Enhanced Multi-Sector Covered Call ETF		16.21%33.87%23.15%13.91%-2.52%12.70%
XEQT.TO
iShares Core Equity ETF Portfolio		12.29%19.47%24.36%17.25%-11.01%5.80%

Correlation

The correlation between HDIV.TO and XEQT.TO is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.81

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

0.83

Correlation (All Time)
Calculated using the full available price history since Jul 19, 2021

0.81

The correlation between HDIV.TO and XEQT.TO has been stable across timeframes, ranging from 0.81 to 0.83 - a consistent structural relationship.

HDIV.TO vs. XEQT.TO - Sectors Allocation Comparison

Sectors
HDIV.TO
XEQT.TO

Financial Services

39.8%
20.3%

Energy

18.4%
7.2%

Basic Materials

13.4%
7.3%

Technology

9.5%
22.9%

Communication Services

6.3%
6.4%

Utilities

4.7%
2.8%

Industrials

3.0%
12.1%

Consumer Cyclical

2.5%
7.8%

Real Estate

2.1%
2.2%

Consumer Defensive

0.3%
4.4%

Healthcare

0.2%
6.6%

Financial Services

HDIV.TO
39.8%
XEQT.TO
20.3%

Energy

HDIV.TO
18.4%
XEQT.TO
7.2%

Basic Materials

HDIV.TO
13.4%
XEQT.TO
7.3%

Technology

HDIV.TO
9.5%
XEQT.TO
22.9%

Communication Services

HDIV.TO
6.3%
XEQT.TO
6.4%

Utilities

HDIV.TO
4.7%
XEQT.TO
2.8%

Industrials

HDIV.TO
3.0%
XEQT.TO
12.1%

Consumer Cyclical

HDIV.TO
2.5%
XEQT.TO
7.8%

Real Estate

HDIV.TO
2.1%
XEQT.TO
2.2%

Consumer Defensive

HDIV.TO
0.3%
XEQT.TO
4.4%

Healthcare

HDIV.TO
0.2%
XEQT.TO
6.6%

Compare stocks, funds, or ETFs

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Hamilton Enhanced Multi-Sector Covered Call ETF

iShares Core Equity ETF Portfolio

Often compared with HDIV.TO:
HDIV.TO vs. HYLD.TOHDIV.TO vs. HMAX.TOHDIV.TO vs. HDIF.TOHDIV.TO vs. XDIV.TOHDIV.TO vs. HHIS.TOHDIV.TO vs. VDY.TOHDIV.TO vs. ZWC.TO
Often compared with XEQT.TO:
XEQT.TO vs. VFV.TOXEQT.TO vs. VEQT.TOXEQT.TO vs. XGRO.TOXEQT.TO vs. ZEQT.TOXEQT.TO vs. VGRO.TOXEQT.TO vs. XEI.TOXEQT.TO vs. VOO

Return for Risk

HDIV.TO vs. XEQT.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: 9292
Overall Rank
HDIV.TO Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
HDIV.TO Sortino Ratio Rank: 9393
Sortino Ratio Rank
HDIV.TO Omega Ratio Rank: 9494
Omega Ratio Rank
HDIV.TO Calmar Ratio Rank: 8888
Calmar Ratio Rank
HDIV.TO Martin Ratio Rank: 9393
Martin Ratio Rank
XEQT.TO
XEQT.TO Risk / Return Rank: 7575
Overall Rank
XEQT.TO Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
XEQT.TO Sortino Ratio Rank: 7676
Sortino Ratio Rank
XEQT.TO Omega Ratio Rank: 7676
Omega Ratio Rank
XEQT.TO Calmar Ratio Rank: 7070
Calmar Ratio Rank
XEQT.TO Martin Ratio Rank: 7878
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.

HDIV.TO vs. XEQT.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 iShares Core Equity ETF Portfolio (XEQT.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.TOXEQT.TODifference
Sharpe ratioReturn per unit of total volatility
3.67
2.53

+1.14

Sortino ratioReturn per unit of downside risk
4.70
3.49

+1.21

Omega ratioGain probability vs. loss probability

1.68

1.47

+0.21

Calmar ratioReturn relative to maximum drawdown

5.24

3.56

+1.68

Martin ratioReturn relative to average drawdown

25.39

15.50

+9.89

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

HDIV.TO vs. XEQT.TO - Sharpe Ratio Comparison

The current HDIV.TO Sharpe Ratio is 3.67, which is higher than the XEQT.TO Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of HDIV.TO and XEQT.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

HDIV.TOXEQT.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.67

2.53

+1.14

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

1.05

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.26

0.95

+0.31

Drawdowns

HDIV.TO vs. XEQT.TO - Drawdown Comparison

The maximum HDIV.TO drawdown since its inception was -22.32%, smaller than the maximum XEQT.TO drawdown of -29.74%. Use the drawdown chart below to compare losses from any high point for HDIV.TO and XEQT.TO.

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Drawdown Indicators

HDIV.TOXEQT.TODifference

Max Drawdown

Largest peak-to-trough decline

-22.32%

-29.74%

+7.42%

Max Drawdown (1Y)

Largest decline over 1 year

-8.73%

-8.25%

-0.48%

Max Drawdown (3Y)

Largest decline over 3 years

-14.58%

-15.08%

+0.50%

Max Drawdown (5Y)

Largest decline over 5 years

—

-19.56%

—

Current Drawdown

Current decline from peak

-0.63%

-0.56%

-0.07%

Average Drawdown

Average peak-to-trough decline

-4.22%

-4.11%

-0.11%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.80%

1.89%

-0.09%

Volatility

HDIV.TO vs. XEQT.TO - Volatility Comparison

Hamilton Enhanced Multi-Sector Covered Call ETF (HDIV.TO) and iShares Core Equity ETF Portfolio (XEQT.TO) have volatilities of 3.80% and 3.70%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HDIV.TOXEQT.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.80%

3.70%

+0.10%

Volatility (6M)

Calculated over the trailing 6-month period

10.29%

9.38%

+0.91%

Volatility (1Y)

Calculated over the trailing 1-year period

12.47%

11.63%

+0.84%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.63%

13.12%

+2.51%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.63%

15.56%

+0.07%

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

HDIV.TO has a 0.00% expense ratio, which is lower than XEQT.TO's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

HDIV.TO vs. XEQT.TO - Dividend Comparison

HDIV.TO's dividend yield for the trailing twelve months is around 9.33%, more than XEQT.TO's 1.48% yield.

PositionTTM2025202420232022202120202019
HDIV.TO
Hamilton Enhanced Multi-Sector Covered Call ETF		9.33%10.09%11.38%10.41%9.64%3.39%0.00%0.00%
XEQT.TO
iShares Core Equity ETF Portfolio		1.48%1.66%2.01%2.07%2.12%1.64%1.66%1.19%

Frequently Asked Questions

HDIV.TO and XEQT.TO have a correlation of 0.81, 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 0.20% for XEQT.TO.

HDIV.TO is categorized as Derivative Income, while XEQT.TO is Global Equities. They also come from different issuers: Hamilton Capital and iShares. Their fees differ too: 0.00% for HDIV.TO and 0.20% for XEQT.TO.

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