HERO.TO vs. OILY.TO

Last updated Jul 16, 2026

HERO.TO (Evolve E-Gaming Index ETF) and OILY.TO (Evolve Canadian Energy Enhanced Yield Index Fund ETF) are both exchange-traded funds - HERO.TO is a Gaming fund tracking the Solactive Global Video Games & Esports Index, while OILY.TO is a Energy Equities fund tracking the Solactive Canada Energy Top 10 Index. Both are passively managed. Over the past year, HERO.TO returned -17.28% vs 43.37% for OILY.TO. At a 0.00 correlation, their price movements are largely independent.

Performance

HERO.TO vs. OILY.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Evolve E-Gaming Index ETF (HERO.TO) and Evolve Canadian Energy Enhanced Yield Index Fund ETF (OILY.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HERO.TO achieves a -16.36% return, which is significantly lower than OILY.TO's 30.77% return.

HERO.TO

• 1D: -0.99%
• 1M: 4.51%
• 6M: -16.51%
• YTD: -16.36%
• 1Y: -17.28%
• 3Y*: 9.66%
• 5Y*: -0.06%
• 10Y*: —

OILY.TO

• 1D: -0.18%
• 1M: 0.76%
• 6M: 27.61%
• YTD: 30.77%
• 1Y: 43.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HERO.TO vs. OILY.TO - Yearly Performance Comparison

	2026 (YTD)	2025
HERO.TO Evolve E-Gaming Index ETF	-16.36%	18.54%
OILY.TO Evolve Canadian Energy Enhanced Yield Index Fund ETF	30.77%	3.96%

Correlation

The correlation between HERO.TO and OILY.TO is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.05
Correlation (All Time) Calculated using the full available price history since Mar 28, 2025	0.00

Return for Risk

HERO.TO vs. OILY.TO — Risk / Return Rank

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

HERO.TO

HERO.TO Risk / Return Rank: 3
HERO.TO Sharpe Ratio Rank: 2
HERO.TO Sortino Ratio Rank: 2
HERO.TO Omega Ratio Rank: 2
HERO.TO Calmar Ratio Rank: 4
HERO.TO Martin Ratio Rank: 4

OILY.TO

OILY.TO Risk / Return Rank: 73
OILY.TO Sharpe Ratio Rank: 81
OILY.TO Sortino Ratio Rank: 74
OILY.TO Omega Ratio Rank: 73
OILY.TO Calmar Ratio Rank: 69
OILY.TO Martin Ratio Rank: 66

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.

HERO.TO vs. OILY.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Evolve E-Gaming Index ETF (HERO.TO) and Evolve Canadian Energy Enhanced Yield Index Fund ETF (OILY.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.

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.

	HERO.TO	OILY.TO	Difference
Sharpe ratio: Return per unit of total volatility	-0.98	2.06	-3.04
Sortino ratio: Return per unit of downside risk	-1.33	2.68	-4.01
Omega ratio: Gain probability vs. loss probability	0.84	1.34	-0.50
Calmar ratio: Return relative to maximum drawdown	-0.58	2.80	-3.38
Martin ratio: Return relative to average drawdown	-1.05	9.52	-10.58

HERO.TO vs. OILY.TO - Sharpe Ratio Comparison

The current HERO.TO Sharpe Ratio is -0.98, which is lower than the OILY.TO Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of HERO.TO and OILY.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HERO.TO vs. OILY.TO - Drawdown Comparison

The maximum HERO.TO drawdown since its inception was -45.49%, which is greater than OILY.TO's maximum drawdown of -22.70%. Use the drawdown chart below to compare losses from any high point for HERO.TO and OILY.TO.

Drawdown Indicators

	HERO.TO	OILY.TO	Difference
Max Drawdown Largest peak-to-trough decline	-45.49%	-22.70%	-22.79%
Max Drawdown (1Y) Largest decline over 1 year	-29.67%	-15.56%	-14.11%
Max Drawdown (3Y) Largest decline over 3 years	-29.67%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-38.45%	—	—
Current Drawdown Current decline from peak	-24.70%	-6.51%	-18.19%
Average Drawdown Average peak-to-trough decline	-18.67%	-4.86%	-13.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.42%	4.57%	+11.85%

Volatility

HERO.TO vs. OILY.TO - Volatility Comparison

The current volatility for Evolve E-Gaming Index ETF (HERO.TO) is 6.74%, while Evolve Canadian Energy Enhanced Yield Index Fund ETF (OILY.TO) has a volatility of 9.29%. This indicates that HERO.TO experiences smaller price fluctuations and is considered to be less risky than OILY.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HERO.TO	OILY.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.74%	9.29%	-2.55%
Volatility (6M) Calculated over the trailing 6-month period	14.66%	17.37%	-2.71%
Volatility (1Y) Calculated over the trailing 1-year period	17.67%	21.18%	-3.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.64%	25.52%	-4.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.98%	25.52%	-4.54%

Dividends

HERO.TO vs. OILY.TO - Dividend Comparison

HERO.TO's dividend yield for the trailing twelve months is around 0.54%, less than OILY.TO's 13.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
HERO.TO Evolve E-Gaming Index ETF	0.54%	0.45%	0.57%	0.70%	0.82%	0.57%	0.16%	0.13%
OILY.TO Evolve Canadian Energy Enhanced Yield Index Fund ETF	13.58%	11.50%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HERO.TO and OILY.TO in my portfolio?

HERO.TO and OILY.TO have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between HERO.TO and OILY.TO?

HERO.TO is categorized as Gaming, while OILY.TO is Energy Equities. HERO.TO tracks Solactive Global Video Games & Esports Index, while OILY.TO tracks Solactive Canada Energy Top 10 Index.