HEB.TO vs. QDAY.NEO
HEB.TO (Hamilton Canadian Bank Equal-Weight Index ETF) and QDAY.NEO (Hamilton EnhancedTechnology DayMAX™ ETF) are both exchange-traded funds - HEB.TO is a Financials Equities fund tracking the Solactive Equal Weight Canada Banks Index, while QDAY.NEO is a Derivative Income fund actively managed by Hamilton. HEB.TO is passively managed, while QDAY.NEO is actively managed. Over the past year, HEB.TO returned 68.66% vs 38.65% for QDAY.NEO. Their 0.38 correlation means their historical movements had little consistent relationship. HEB.TO charges 0.19%/yr vs 0.85%/yr for QDAY.NEO.
Performance
HEB.TO vs. QDAY.NEO - Performance Comparison
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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 QDAY.NEO's 22.56% 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%
QDAY.NEO
- 1D
- 1.67%
- 1M
- -3.87%
- 6M
- 21.64%
- YTD
- 22.56%
- 1Y
- 38.65%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 38.65%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$813.69K | CA$972.65K | CA$1.62M | |
| CA$123.73K | CA$56.24K | CA$19.64K |
HEB.TO vs. QDAY.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HEB.TO Hamilton Canadian Bank Equal-Weight Index ETF | 32.76% | 27.18% |
QDAY.NEO Hamilton EnhancedTechnology DayMAX™ ETF | 22.56% | 14.84% |
Correlation
The correlation between HEB.TO and QDAY.NEO is 0.40, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.40 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2025 | 0.38 |
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Return for Risk
HEB.TO vs. QDAY.NEO — Risk / Return Rank
HEB.TO
QDAY.NEO
HEB.TO vs. QDAY.NEO - 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 EnhancedTechnology DayMAX™ ETF (QDAY.NEO). 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 | QDAY.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.42 | ||
| Sortino ratioReturn per unit of downside risk | +4.16 | ||
| Omega ratioGain probability vs. loss probability | 1.83 | 1.24 | +0.59 |
| Calmar ratioReturn relative to maximum drawdown | 7.83 | 1.79 | +6.04 |
| Martin ratioReturn relative to average drawdown | 33.50 | 4.78 | +28.72 |
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Drawdowns
HEB.TO vs. QDAY.NEO - Drawdown Comparison
The maximum HEB.TO drawdown since its inception was -14.77%, smaller than the maximum QDAY.NEO drawdown of -19.44%. Use the drawdown chart below to compare losses from any high point for HEB.TO and QDAY.NEO.
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Drawdown Indicators
| HEB.TO | QDAY.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.77% | -19.44% | +4.67% |
Max Drawdown (1Y)Largest decline over 1 year | -8.86% | -19.44% | +10.58% |
Max Drawdown (3Y)Largest decline over 3 years | -13.40% | — | — |
Current DrawdownCurrent decline from peak | -2.67% | -7.73% | +5.06% |
Average DrawdownAverage peak-to-trough decline | -2.37% | -5.16% | +2.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.06% | 7.26% | -5.20% |
Volatility
HEB.TO vs. QDAY.NEO - Volatility Comparison
The current volatility for Hamilton Canadian Bank Equal-Weight Index ETF (HEB.TO) is 6.13%, while Hamilton EnhancedTechnology DayMAX™ ETF (QDAY.NEO) has a volatility of 8.22%. This indicates that HEB.TO experiences smaller price fluctuations and is considered to be less risky than QDAY.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HEB.TO | QDAY.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.13% | 8.22% | -2.09% |
Volatility (6M)Calculated over the trailing 6-month period | 12.51% | 20.90% | -8.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.59% | 25.99% | -11.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.30% | 25.51% | -12.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.30% | 25.51% | -12.21% |
HEB.TO vs. QDAY.NEO - Expense Ratio Comparison
HEB.TO has a 0.19% expense ratio, which is lower than QDAY.NEO's 0.85% expense ratio.
Dividends
HEB.TO vs. QDAY.NEO - Dividend Comparison
HEB.TO's dividend yield for the trailing twelve months is around 2.18%, less than QDAY.NEO's 17.99% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
HEB.TO Hamilton Canadian Bank Equal-Weight Index ETF | 2.18% | 2.93% | 4.24% | 3.75% |
QDAY.NEO Hamilton EnhancedTechnology DayMAX™ ETF | 17.99% | 8.78% | 0.00% | 0.00% |
Frequently Asked Questions
HEB.TO and QDAY.NEO have a correlation of 0.40, 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 0.85% for QDAY.NEO.
HEB.TO is categorized as Financials Equities, while QDAY.NEO is Derivative Income. Their fees differ too: 0.19% for HEB.TO and 0.85% for QDAY.NEO.
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