HEB.TO vs. SDAY.NEO
HEB.TO (Hamilton Canadian Bank Equal-Weight Index ETF) and SDAY.NEO (Hamilton Enhanced U.S. Equity DayMAX™ ETF) are both exchange-traded funds - HEB.TO is a Financials Equities fund tracking the Solactive Equal Weight Canada Banks Index, while SDAY.NEO is a Derivative Income fund actively managed by Hamilton. HEB.TO is passively managed, while SDAY.NEO is actively managed. Over the past year, HEB.TO returned 68.66% vs 22.33% for SDAY.NEO. Their 0.30 correlation means their historical movements had little consistent relationship. HEB.TO charges 0.19%/yr vs 0.85%/yr for SDAY.NEO.
Performance
HEB.TO vs. SDAY.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 SDAY.NEO's 16.75% 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%
SDAY.NEO
- 1D
- 0.28%
- 1M
- -2.34%
- 6M
- 10.45%
- YTD
- 16.75%
- 1Y
- 22.33%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 20.93%
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$63.52K | CA$28.87K | CA$10.08K |
HEB.TO vs. SDAY.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HEB.TO Hamilton Canadian Bank Equal-Weight Index ETF | 32.76% | 27.18% |
SDAY.NEO Hamilton Enhanced U.S. Equity DayMAX™ ETF | 16.75% | 4.49% |
Correlation
The correlation between HEB.TO and SDAY.NEO is 0.30, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.30 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2025 | 0.30 |
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Return for Risk
HEB.TO vs. SDAY.NEO — Risk / Return Rank
HEB.TO
SDAY.NEO
HEB.TO vs. SDAY.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 Enhanced U.S. Equity DayMAX™ ETF (SDAY.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 | SDAY.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.08 | ||
| Sortino ratioReturn per unit of downside risk | +3.53 | ||
| Omega ratioGain probability vs. loss probability | 1.83 | 1.30 | +0.53 |
| Calmar ratioReturn relative to maximum drawdown | 7.83 | 2.70 | +5.13 |
| Martin ratioReturn relative to average drawdown | 33.50 | 8.42 | +25.08 |
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Drawdowns
HEB.TO vs. SDAY.NEO - Drawdown Comparison
The maximum HEB.TO drawdown since its inception was -14.77%, which is greater than SDAY.NEO's maximum drawdown of -7.75%. Use the drawdown chart below to compare losses from any high point for HEB.TO and SDAY.NEO.
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Drawdown Indicators
| HEB.TO | SDAY.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.77% | -7.75% | -7.02% |
Max Drawdown (1Y)Largest decline over 1 year | -8.86% | -7.75% | -1.11% |
Max Drawdown (3Y)Largest decline over 3 years | -13.40% | — | — |
Current DrawdownCurrent decline from peak | -2.67% | -2.45% | -0.22% |
Average DrawdownAverage peak-to-trough decline | -2.37% | -1.77% | -0.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.06% | 2.48% | -0.42% |
Volatility
HEB.TO vs. SDAY.NEO - Volatility Comparison
Hamilton Canadian Bank Equal-Weight Index ETF (HEB.TO) has a higher volatility of 6.13% compared to Hamilton Enhanced U.S. Equity DayMAX™ ETF (SDAY.NEO) at 5.18%. This indicates that HEB.TO's price experiences larger fluctuations and is considered to be riskier than SDAY.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 | SDAY.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.13% | 5.18% | +0.95% |
Volatility (6M)Calculated over the trailing 6-month period | 12.51% | 9.60% | +2.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.59% | 12.48% | +2.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.30% | 12.35% | +0.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.30% | 12.35% | +0.95% |
HEB.TO vs. SDAY.NEO - Expense Ratio Comparison
HEB.TO has a 0.19% expense ratio, which is lower than SDAY.NEO's 0.85% expense ratio.
Dividends
HEB.TO vs. SDAY.NEO - Dividend Comparison
HEB.TO's dividend yield for the trailing twelve months is around 2.18%, less than SDAY.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% |
SDAY.NEO Hamilton Enhanced U.S. Equity DayMAX™ ETF | 17.99% | 8.62% | 0.00% | 0.00% |
Frequently Asked Questions
HEB.TO and SDAY.NEO have a correlation of 0.30, 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 SDAY.NEO.
HEB.TO is categorized as Financials Equities, while SDAY.NEO is Derivative Income. Their fees differ too: 0.19% for HEB.TO and 0.85% for SDAY.NEO.
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