HEQT.TO vs. SDAY.NEO
HEQT.TO (Horizons All-Equity Asset Allocation ETF) and SDAY.NEO (Hamilton Enhanced U.S. Equity DayMAX™ ETF) are both exchange-traded funds - HEQT.TO is a Global Equities fund actively managed by Horizons, while SDAY.NEO is a Derivative Income fund actively managed by Hamilton Capital. Both are actively managed. A 0.51 correlation means they provide meaningful diversification when combined. HEQT.TO charges 0.20%/yr vs 0.85%/yr for SDAY.NEO.
Performance
HEQT.TO vs. SDAY.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, HEQT.TO achieves a 14.13% return, which is significantly higher than SDAY.NEO's 9.75% return.
HEQT.TO
- 1D
- 0.50%
- 1M
- 6.41%
- YTD
- 14.13%
- 6M
- 13.38%
- 1Y
- 32.17%
- 3Y*
- 25.88%
- 5Y*
- 16.89%
- 10Y*
- —
SDAY.NEO
- 1D
- 0.74%
- 1M
- 3.62%
- YTD
- 9.75%
- 6M
- 7.20%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HEQT.TO vs. SDAY.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HEQT.TO Horizons All-Equity Asset Allocation ETF | 14.13% | 11.75% |
SDAY.NEO Hamilton Enhanced U.S. Equity DayMAX™ ETF | 9.75% | 4.48% |
Correlation
The correlation between HEQT.TO and SDAY.NEO is 0.51, 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 Jul 15, 2025 | 0.51 |
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Return for Risk
HEQT.TO vs. SDAY.NEO — Risk / Return Rank
HEQT.TO
SDAY.NEO
HEQT.TO vs. SDAY.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Horizons All-Equity Asset Allocation ETF (HEQT.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.
| HEQT.TO | SDAY.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.51 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.81 | — | — |
| Martin ratioReturn relative to average drawdown | 16.80 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HEQT.TO | SDAY.NEO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.70 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.11 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.06 | 1.45 | -0.39 |
Drawdowns
HEQT.TO vs. SDAY.NEO - Drawdown Comparison
The maximum HEQT.TO drawdown since its inception was -31.82%, 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 HEQT.TO and SDAY.NEO.
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Drawdown Indicators
| HEQT.TO | SDAY.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.82% | -7.75% | -24.07% |
Max Drawdown (1Y)Largest decline over 1 year | -8.49% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -15.33% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -24.25% | — | — |
Current DrawdownCurrent decline from peak | -0.08% | -0.72% | +0.64% |
Average DrawdownAverage peak-to-trough decline | -4.28% | -1.86% | -2.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.92% | — | — |
Volatility
HEQT.TO vs. SDAY.NEO - Volatility Comparison
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Volatility by Period
| HEQT.TO | SDAY.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.48% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 9.68% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 11.96% | 11.54% | +0.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.33% | 11.54% | +3.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.16% | 11.54% | +5.62% |
HEQT.TO vs. SDAY.NEO - Expense Ratio Comparison
HEQT.TO has a 0.20% expense ratio, which is lower than SDAY.NEO's 0.85% expense ratio.
Dividends
HEQT.TO vs. SDAY.NEO - Dividend Comparison
HEQT.TO's dividend yield for the trailing twelve months is around 1.61%, less than SDAY.NEO's 16.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
HEQT.TO Horizons All-Equity Asset Allocation ETF | 1.61% | 1.70% | 3.22% | 7.85% | 7.31% | 0.48% | 1.40% | 0.22% |
SDAY.NEO Hamilton Enhanced U.S. Equity DayMAX™ ETF | 16.19% | 8.61% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HEQT.TO and SDAY.NEO have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HEQT.TO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HEQT.TO is cheaper with a 0.20% expense ratio, compared with 0.85% for SDAY.NEO.
HEQT.TO is categorized as Global Equities, while SDAY.NEO is Derivative Income. They also come from different issuers: Horizons and Hamilton Capital. Their fees differ too: 0.20% for HEQT.TO and 0.85% for SDAY.NEO.
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