HEB.TO vs. LQDW
HEB.TO (Hamilton Canadian Bank Equal-Weight Index ETF) and LQDW (iShares Investment Grade Corporate Bond Buywrite Strategy ETF) are both exchange-traded funds - HEB.TO is a Financials Equities fund tracking the Solactive Equal Weight Canada Banks Index, while LQDW is a Corporate Bonds fund tracking the CBOE LQD BuyWrite Index. Both are passively managed. Over the past 3 years, HEB.TO returned 36.16%/yr vs 5.79%/yr for LQDW. At a 0.13 correlation, their price movements are largely independent. HEB.TO charges 0.19%/yr vs 0.34%/yr for LQDW.
Performance
HEB.TO vs. LQDW - Performance Comparison
Loading charts...
Different Trading Currencies
HEB.TO is traded in CAD, while LQDW is traded in USD. To make them comparable, the LQDW values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, HEB.TO achieves a 33.24% return, which is significantly higher than LQDW's 4.24% return.
HEB.TO
- 1D
- -0.36%
- 1M
- 6.70%
- 6M
- 31.36%
- YTD
- 33.24%
- 1Y
- 69.46%
- 3Y*
- 36.16%
- 5Y*
- —
- 10Y*
- —
LQDW
- 1D
- -0.40%
- 1M
- 0.55%
- 6M
- 2.20%
- YTD
- 4.24%
- 1Y
- 8.65%
- 3Y*
- 5.79%
- 5Y*
- —
- 10Y*
- —
HEB.TO vs. LQDW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HEB.TO Hamilton Canadian Bank Equal-Weight Index ETF | 33.24% | 43.56% | 23.55% | 7.23% |
LQDW iShares Investment Grade Corporate Bond Buywrite Strategy ETF | 4.24% | 4.07% | 11.29% | -2.82% |
Correlation
The correlation between HEB.TO and LQDW is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Apr 4, 2023 | 0.13 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HEB.TO vs. LQDW — Risk / Return Rank
HEB.TO
LQDW
HEB.TO vs. LQDW - 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 iShares Investment Grade Corporate Bond Buywrite Strategy ETF (LQDW). 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.TO | LQDW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.58 | ||
| Sortino ratioReturn per unit of downside risk | +4.44 | ||
| Omega ratioGain probability vs. loss probability | 1.91 | 1.27 | +0.64 |
| Calmar ratioReturn relative to maximum drawdown | 7.96 | 2.27 | +5.69 |
| Martin ratioReturn relative to average drawdown | 35.52 | 6.63 | +28.89 |
Loading charts...
Drawdowns
HEB.TO vs. LQDW - Drawdown Comparison
The maximum HEB.TO drawdown since its inception was -14.77%, which is greater than LQDW's maximum drawdown of -6.30%. Use the drawdown chart below to compare losses from any high point for HEB.TO and LQDW.
Loading charts...
Drawdown Indicators
| HEB.TO | LQDW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.77% | -6.30% | -8.47% |
Max Drawdown (1Y)Largest decline over 1 year | -8.86% | -3.83% | -5.03% |
Max Drawdown (3Y)Largest decline over 3 years | -14.77% | -6.30% | -8.47% |
Current DrawdownCurrent decline from peak | -0.36% | -1.86% | +1.50% |
Average DrawdownAverage peak-to-trough decline | -2.37% | -1.78% | -0.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.98% | 1.31% | +0.67% |
Volatility
HEB.TO vs. LQDW - Volatility Comparison
Hamilton Canadian Bank Equal-Weight Index ETF (HEB.TO) has a higher volatility of 4.10% compared to iShares Investment Grade Corporate Bond Buywrite Strategy ETF (LQDW) at 1.51%. This indicates that HEB.TO's price experiences larger fluctuations and is considered to be riskier than LQDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HEB.TO | LQDW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.10% | 1.51% | +2.59% |
Volatility (6M)Calculated over the trailing 6-month period | 11.84% | 4.42% | +7.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.78% | 5.63% | +8.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.11% | 7.87% | +5.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.11% | 7.87% | +5.24% |
HEB.TO vs. LQDW - Expense Ratio Comparison
HEB.TO has a 0.19% expense ratio, which is lower than LQDW's 0.34% expense ratio.
Dividends
HEB.TO vs. LQDW - Dividend Comparison
HEB.TO's dividend yield for the trailing twelve months is around 2.15%, less than LQDW's 12.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
HEB.TO Hamilton Canadian Bank Equal-Weight Index ETF | 2.15% | 2.93% | 4.24% | 3.75% | 0.00% |
LQDW iShares Investment Grade Corporate Bond Buywrite Strategy ETF | 12.29% | 16.02% | 15.74% | 19.28% | 8.85% |
Frequently Asked Questions
HEB.TO and LQDW 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 0.34% for LQDW.
HEB.TO is categorized as Financials Equities, while LQDW is Corporate Bonds. HEB.TO tracks Solactive Equal Weight Canada Banks Index, while LQDW tracks CBOE LQD BuyWrite Index. They also come from different issuers: Hamilton and iShares. Their fees differ too: 0.19% for HEB.TO and 0.34% for LQDW.
Find the right allocation for HEB.TO and LQDW
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer