HEQL.TO vs. HPYE.TO

Last updated Jun 4, 2026

HEQL.TO (Global X Enhanced All-Equity Asset Allocation ETF CAD) and HPYE.TO (Harvest Premium Yield Enhanced ETF) are both exchange-traded funds - HEQL.TO is a Leveraged Equities fund actively managed by Global X, while HPYE.TO is a Derivative Income fund actively managed by Harvest Portfolios Group. Both are actively managed. A 0.77 correlation means they provide meaningful diversification when combined. HEQL.TO charges 1.46%/yr vs 0.65%/yr for HPYE.TO.

Performance

HEQL.TO vs. HPYE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Enhanced All-Equity Asset Allocation ETF CAD (HEQL.TO) and Harvest Premium Yield Enhanced ETF (HPYE.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HEQL.TO

• 1D: -0.47%
• 1M: 8.44%
• YTD: 16.61%
• 6M: 16.02%
• 1Y: 39.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HPYE.TO

• 1D: 0.08%
• 1M: 6.05%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

HEQL.TO vs. HPYE.TO - Yearly Performance Comparison

	2026 (YTD)
HEQL.TO Global X Enhanced All-Equity Asset Allocation ETF CAD	12.39%
HPYE.TO Harvest Premium Yield Enhanced ETF	8.80%

Correlation

The correlation between HEQL.TO and HPYE.TO is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 22, 2026	0.77

Return for Risk

HEQL.TO vs. HPYE.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HEQL.TO

HEQL.TO Risk / Return Rank: 81
HEQL.TO Sharpe Ratio Rank: 82
HEQL.TO Sortino Ratio Rank: 82
HEQL.TO Omega Ratio Rank: 80
HEQL.TO Calmar Ratio Rank: 78
HEQL.TO Martin Ratio Rank: 83

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.

HEQL.TO vs. HPYE.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Enhanced All-Equity Asset Allocation ETF CAD (HEQL.TO) and Harvest Premium Yield Enhanced ETF (HPYE.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.

	HEQL.TO	HPYE.TO	Difference
Sharpe ratio Return per unit of total volatility	2.71	—	—
Sortino ratio Return per unit of downside risk	3.71	—	—
Omega ratio Gain probability vs. loss probability	1.48	—	—
Calmar ratio Return relative to maximum drawdown	3.99	—	—
Martin ratio Return relative to average drawdown	16.83	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	HEQL.TO	HPYE.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.71	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.08	2.04	+0.05

Drawdowns

HEQL.TO vs. HPYE.TO - Drawdown Comparison

The maximum HEQL.TO drawdown since its inception was -19.86%, which is greater than HPYE.TO's maximum drawdown of -5.51%. Use the drawdown chart below to compare losses from any high point for HEQL.TO and HPYE.TO.

Drawdown Indicators

	HEQL.TO	HPYE.TO	Difference
Max Drawdown Largest peak-to-trough decline	-19.86%	-5.51%	-14.35%
Max Drawdown (1Y) Largest decline over 1 year	-10.69%	—	—
Current Drawdown Current decline from peak	-0.47%	-0.23%	-0.24%
Average Drawdown Average peak-to-trough decline	-1.85%	-1.40%	-0.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.46%	—	—

Volatility

Volatility by Period

	HEQL.TO	HPYE.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.35%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.85%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.73%	12.99%	+2.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.36%	12.99%	+5.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.36%	12.99%	+5.37%

HEQL.TO vs. HPYE.TO - Expense Ratio Comparison

HEQL.TO has a 1.46% expense ratio, which is higher than HPYE.TO's 0.65% expense ratio.

Dividends

HEQL.TO vs. HPYE.TO - Dividend Comparison

HEQL.TO's dividend yield for the trailing twelve months is around 1.62%, less than HPYE.TO's 5.10% yield.

Position	TTM	2025	2024	2023
HEQL.TO Global X Enhanced All-Equity Asset Allocation ETF CAD	1.62%	1.82%	1.75%	0.55%
HPYE.TO Harvest Premium Yield Enhanced ETF	5.10%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HEQL.TO and HPYE.TO in my portfolio?

HEQL.TO and HPYE.TO have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HEQL.TO or HPYE.TO?

On fees, HPYE.TO is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HEQL.TO or HPYE.TO?

HPYE.TO is cheaper with a 0.65% expense ratio, compared with 1.46% for HEQL.TO.

What is the main difference between HEQL.TO and HPYE.TO?

HEQL.TO is categorized as Leveraged Equities, while HPYE.TO is Derivative Income. They also come from different issuers: Global X and Harvest Portfolios Group. Their fees differ too: 1.46% for HEQL.TO and 0.65% for HPYE.TO.