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HEB.TO vs. HUM.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HEB.TO vs. HUM.TO

Last updated Aug 2, 2026
Documentation

HEB.TO (Hamilton Canadian Bank Equal-Weight Index ETF) and HUM.TO (Hamilton U.S. Mid-Cap Financials ETF) are both Financials Equities funds from Hamilton. HEB.TO is passively managed, while HUM.TO is actively managed. Over the past 3 years, HEB.TO returned 35.19%/yr vs 14.80%/yr for HUM.TO. Their 0.21 correlation means their historical movements had little consistent relationship. HEB.TO charges 0.19%/yr vs 0.89%/yr for HUM.TO.

Performance

HEB.TO vs. HUM.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Hamilton Canadian Bank Equal-Weight Index ETF (HEB.TO) and Hamilton U.S. Mid-Cap Financials ETF (HUM.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, HEB.TO achieves a 32.76% return, which is significantly higher than HUM.TO's 7.14% return.

HEB.TO

1D
0.31%
1M
1.89%
6M
34.14%
YTD
32.76%
1Y
68.66%
3Y*
35.19%
5Y*
—
10Y*
—
ALL TIME*
32.14%

HUM.TO

1D
-1.14%
1M
3.90%
6M
7.14%
YTD
7.14%
1Y
12.77%
3Y*
14.80%
5Y*
9.60%
10Y*
—
ALL TIME*
6.50%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

HEB.TO

Hamilton Canadian Bank Equal-Weight Index ETF
CA$813.69KCA$972.65KCA$1.62M

HUM.TO

Hamilton U.S. Mid-Cap Financials ETF
CA$1.58KCA$865.79CA$7.59K

HEB.TO vs. HUM.TO - Yearly Performance Comparison

2026 (YTD)202520242023
HEB.TO
Hamilton Canadian Bank Equal-Weight Index ETF		32.76%43.56%23.55%7.23%
HUM.TO
Hamilton U.S. Mid-Cap Financials ETF		7.14%4.39%12.82%35.21%

Correlation

The correlation between HEB.TO and HUM.TO is 0.21, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.21

Correlation (3Y)
Balances recent behavior with more history.

0.21

Correlation (All Time)
Calculated using the full available price history since Apr 4, 2023

0.21

HEB.TO vs. HUM.TO - Sectors Allocation Comparison

Sectors
HEB.TO
HUM.TO

Financial Services

100.0%
97.9%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

2.1%

Utilities

-

-

Financial Services

HEB.TO
100.0%
HUM.TO
97.9%

Basic Materials

HEB.TO

-

HUM.TO

-

Communication Services

HEB.TO

-

HUM.TO

-

Consumer Cyclical

HEB.TO

-

HUM.TO

-

Consumer Defensive

HEB.TO

-

HUM.TO

-

Energy

HEB.TO

-

HUM.TO

-

Healthcare

HEB.TO

-

HUM.TO

-

Industrials

HEB.TO

-

HUM.TO

-

Real Estate

HEB.TO

-

HUM.TO

-

Technology

HEB.TO

-

HUM.TO
2.1%

Utilities

HEB.TO

-

HUM.TO

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Hamilton Canadian Bank Equal-Weight Index ETF

Hamilton U.S. Mid-Cap Financials ETF

Often compared with HEB.TO:
HEB.TO vs. ZEB.TOHEB.TO vs. HCAL.TOHEB.TO vs. HCA.TOHEB.TO vs. BNKL.TOHEB.TO vs. CIC.TOHEB.TO vs. HBA.TOHEB.TO vs. LMAX.TO
Often compared with HUM.TO:
HUM.TO vs. MUMC.TOHUM.TO vs. ZMID.TOHUM.TO vs. DXZ.TOHUM.TO vs. BNKL.TOHUM.TO vs. HXF.TOHUM.TO vs. XMC.TOHUM.TO vs. HBA.TO

Return for Risk

HEB.TO vs. HUM.TO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
HEB.TO
HEB.TO Risk / Return Rank: 9898
Overall Rank
HEB.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
HEB.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
HEB.TO Omega Ratio Rank: 9797
Omega Ratio Rank
HEB.TO Calmar Ratio Rank: 9797
Calmar Ratio Rank
HEB.TO Martin Ratio Rank: 9797
Martin Ratio Rank
HUM.TO
HUM.TO Risk / Return Rank: 2525
Overall Rank
HUM.TO Sharpe Ratio Rank: 2525
Sharpe Ratio Rank
HUM.TO Sortino Ratio Rank: 2626
Sortino Ratio Rank
HUM.TO Omega Ratio Rank: 2626
Omega Ratio Rank
HUM.TO Calmar Ratio Rank: 2424
Calmar Ratio Rank
HUM.TO Martin Ratio Rank: 2424
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HEB.TO vs. HUM.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hamilton Canadian Bank Equal-Weight Index ETF (HEB.TO) and Hamilton U.S. Mid-Cap Financials ETF (HUM.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.

HEB.TOHUM.TODifference
Sharpe ratioReturn per unit of total volatility
4.76
0.58

+4.19

Sortino ratioReturn per unit of downside risk
5.98
0.94

+5.05

Omega ratioGain probability vs. loss probability

1.83

1.12

+0.71

Calmar ratioReturn relative to maximum drawdown

7.83

0.71

+7.13

Martin ratioReturn relative to average drawdown

33.50

1.73

+31.77

HEB.TO vs. HUM.TO - Sharpe Ratio Comparison

The current HEB.TO Sharpe Ratio is 4.76, which is higher than the HUM.TO Sharpe Ratio of 0.58. The chart below compares the historical Sharpe Ratios of HEB.TO and HUM.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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Drawdowns

HEB.TO vs. HUM.TO - Drawdown Comparison

The maximum HEB.TO drawdown since its inception was -14.77%, smaller than the maximum HUM.TO drawdown of -49.06%. Use the drawdown chart below to compare losses from any high point for HEB.TO and HUM.TO.

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Drawdown Indicators

HEB.TOHUM.TODifference

Max Drawdown

Largest peak-to-trough decline

-14.77%

-49.06%

+34.29%

Max Drawdown (1Y)

Largest decline over 1 year

-8.86%

-14.68%

+5.82%

Max Drawdown (3Y)

Largest decline over 3 years

-13.40%

-31.97%

+18.57%

Max Drawdown (5Y)

Largest decline over 5 years

—

-34.43%

—

Current Drawdown

Current decline from peak

-2.67%

-11.08%

+8.41%

Average Drawdown

Average peak-to-trough decline

-2.37%

-15.31%

+12.94%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.06%

5.98%

-3.92%

Volatility

HEB.TO vs. HUM.TO - Volatility Comparison

Hamilton Canadian Bank Equal-Weight Index ETF (HEB.TO) has a higher volatility of 6.13% compared to Hamilton U.S. Mid-Cap Financials ETF (HUM.TO) at 5.69%. This indicates that HEB.TO's price experiences larger fluctuations and is considered to be riskier than HUM.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HEB.TOHUM.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.13%

5.69%

+0.44%

Volatility (6M)

Calculated over the trailing 6-month period

12.51%

12.75%

-0.24%

Volatility (1Y)

Calculated over the trailing 1-year period

14.59%

17.99%

-3.40%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.30%

62.05%

-48.75%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.30%

63.29%

-49.99%

HEB.TO vs. HUM.TO - Expense Ratio Comparison

HEB.TO has a 0.19% expense ratio, which is lower than HUM.TO's 0.89% expense ratio.

Dividends

HEB.TO vs. HUM.TO - Dividend Comparison

HEB.TO's dividend yield for the trailing twelve months is around 2.18%, more than HUM.TO's 1.23% yield.

PositionTTM202520242023202220212020
HEB.TO
Hamilton Canadian Bank Equal-Weight Index ETF		2.18%2.93%4.24%3.75%0.00%0.00%0.00%
HUM.TO
Hamilton U.S. Mid-Cap Financials ETF		1.23%1.26%1.19%1.35%3.58%2.18%0.68%

Frequently Asked Questions

HEB.TO and HUM.TO have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, HEB.TO is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

HEB.TO is cheaper with a 0.19% expense ratio, compared with 0.89% for HUM.TO.

Their fees differ too: 0.19% for HEB.TO and 0.89% for HUM.TO.

Portfolio Optimizer

Find the right allocation for HEB.TO and HUM.TO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

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