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HFIN.TO vs. CIF.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HFIN.TO vs. CIF.TO

Last updated Jun 4, 2026

HFIN.TO (Hamilton Enhanced Canadian Financials ETF) and CIF.TO (iShares Global Infrastructure Index ETF) are both exchange-traded funds - HFIN.TO is a Financials Equities fund tracking the Solactive Canadian Financials Equal-Weight Index, while CIF.TO is a Energy Equities fund tracking the Manulife Investment Management Global Infrastructure Index. Both are passively managed. Over the past 3 years, HFIN.TO returned 36.98%/yr vs 25.10%/yr for CIF.TO. A 0.58 correlation means they provide meaningful diversification when combined. HFIN.TO charges 2.18%/yr vs 0.72%/yr for CIF.TO.

Performance

HFIN.TO vs. CIF.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Hamilton Enhanced Canadian Financials ETF (HFIN.TO) and iShares Global Infrastructure Index ETF (CIF.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, HFIN.TO achieves a 13.11% return, which is significantly lower than CIF.TO's 25.20% return.

HFIN.TO

1D
-0.41%
1M
4.91%
YTD
13.11%
6M
20.27%
1Y
46.70%
3Y*
36.98%
5Y*
—
10Y*
—

CIF.TO

1D
1.03%
1M
3.28%
YTD
25.20%
6M
16.23%
1Y
35.22%
3Y*
25.10%
5Y*
18.52%
10Y*
12.99%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HFIN.TO vs. CIF.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022
HFIN.TO
Hamilton Enhanced Canadian Financials ETF		13.11%40.87%40.06%23.18%-15.06%
CIF.TO
iShares Global Infrastructure Index ETF		25.20%14.45%25.40%14.65%12.09%

Correlation

The correlation between HFIN.TO and CIF.TO is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.42

Correlation (3Y)
Calculated over the trailing 3-year period

0.56

Correlation (All Time)
Calculated using the full available price history since Jan 28, 2022

0.58

The correlation between HFIN.TO and CIF.TO shifts across timeframes, from 0.42 (1 year) to 0.58 (all time), reflecting how their relationship changes across market environments.

HFIN.TO vs. CIF.TO - Sectors Allocation Comparison

Sectors
HFIN.TO
CIF.TO

Financial Services

100.0%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

0.5%

Consumer Defensive

-

-

Energy

-

20.8%

Healthcare

-

-

Industrials

-

31.8%

Real Estate

-

-

Technology

-

0.5%

Utilities

-

46.9%

Financial Services

HFIN.TO
100.0%
CIF.TO

-

Basic Materials

HFIN.TO

-

CIF.TO

-

Communication Services

HFIN.TO

-

CIF.TO

-

Consumer Cyclical

HFIN.TO

-

CIF.TO
0.5%

Consumer Defensive

HFIN.TO

-

CIF.TO

-

Energy

HFIN.TO

-

CIF.TO
20.8%

Healthcare

HFIN.TO

-

CIF.TO

-

Industrials

HFIN.TO

-

CIF.TO
31.8%

Real Estate

HFIN.TO

-

CIF.TO

-

Technology

HFIN.TO

-

CIF.TO
0.5%

Utilities

HFIN.TO

-

CIF.TO
46.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Hamilton Enhanced Canadian Financials ETF

iShares Global Infrastructure Index ETF

Often compared with HFIN.TO:
HFIN.TO vs. HCAL.TOHFIN.TO vs. HBNK.TOHFIN.TO vs. HXF.TOHFIN.TO vs. RY.TOHFIN.TO vs. BMO.TOHFIN.TO vs. BN.TOHFIN.TO vs. TD.TO
Often compared with CIF.TO:
CIF.TO vs. VFV.TOCIF.TO vs. MLPP.LCIF.TO vs. ZQQ.TOCIF.TO vs. CWW.TOCIF.TO vs. VGTCIF.TO vs. XDIV.TOCIF.TO vs. ZGI.TO

Return for Risk

HFIN.TO vs. CIF.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HFIN.TO
HFIN.TO Risk / Return Rank: 9090
Overall Rank
HFIN.TO Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
HFIN.TO Sortino Ratio Rank: 9393
Sortino Ratio Rank
HFIN.TO Omega Ratio Rank: 9090
Omega Ratio Rank
HFIN.TO Calmar Ratio Rank: 8888
Calmar Ratio Rank
HFIN.TO Martin Ratio Rank: 8989
Martin Ratio Rank
CIF.TO
CIF.TO Risk / Return Rank: 7070
Overall Rank
CIF.TO Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
CIF.TO Sortino Ratio Rank: 6767
Sortino Ratio Rank
CIF.TO Omega Ratio Rank: 7171
Omega Ratio Rank
CIF.TO Calmar Ratio Rank: 7373
Calmar Ratio Rank
CIF.TO Martin Ratio Rank: 7171
Martin Ratio Rank
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.

HFIN.TO vs. CIF.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hamilton Enhanced Canadian Financials ETF (HFIN.TO) and iShares Global Infrastructure Index ETF (CIF.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.

HFIN.TOCIF.TODifference
Sharpe ratioReturn per unit of total volatility
3.37
2.33

+1.04

Sortino ratioReturn per unit of downside risk
4.61
3.13

+1.48

Omega ratioGain probability vs. loss probability

1.59

1.43

+0.16

Calmar ratioReturn relative to maximum drawdown

5.23

3.72

+1.50

Martin ratioReturn relative to average drawdown

19.84

13.46

+6.38

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HFIN.TO vs. CIF.TO - Sharpe Ratio Comparison

The current HFIN.TO Sharpe Ratio is 3.37, which is higher than the CIF.TO Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of HFIN.TO and CIF.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.

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Sharpe Ratios by Period

HFIN.TOCIF.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.37

2.33

+1.04

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

1.28

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.78

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.27

0.54

+0.73

Drawdowns

HFIN.TO vs. CIF.TO - Drawdown Comparison

The maximum HFIN.TO drawdown since its inception was -26.46%, smaller than the maximum CIF.TO drawdown of -42.37%. Use the drawdown chart below to compare losses from any high point for HFIN.TO and CIF.TO.

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Drawdown Indicators

HFIN.TOCIF.TODifference

Max Drawdown

Largest peak-to-trough decline

-26.46%

-42.37%

+15.91%

Max Drawdown (1Y)

Largest decline over 1 year

-8.98%

-9.50%

+0.52%

Max Drawdown (3Y)

Largest decline over 3 years

-13.24%

-20.40%

+7.16%

Max Drawdown (5Y)

Largest decline over 5 years

—

-20.40%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-42.37%

—

Current Drawdown

Current decline from peak

-1.88%

-0.76%

-1.12%

Average Drawdown

Average peak-to-trough decline

-7.21%

-5.66%

-1.55%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.36%

2.63%

-0.27%

Volatility

HFIN.TO vs. CIF.TO - Volatility Comparison

The current volatility for Hamilton Enhanced Canadian Financials ETF (HFIN.TO) is 4.47%, while iShares Global Infrastructure Index ETF (CIF.TO) has a volatility of 5.85%. This indicates that HFIN.TO experiences smaller price fluctuations and is considered to be less risky than CIF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HFIN.TOCIF.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.47%

5.85%

-1.38%

Volatility (6M)

Calculated over the trailing 6-month period

11.58%

12.44%

-0.86%

Volatility (1Y)

Calculated over the trailing 1-year period

13.93%

15.23%

-1.30%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.04%

14.56%

+2.48%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.04%

16.69%

+0.35%

HFIN.TO vs. CIF.TO - Expense Ratio Comparison

HFIN.TO has a 2.18% expense ratio, which is higher than CIF.TO's 0.72% expense ratio.

Dividends

HFIN.TO vs. CIF.TO - Dividend Comparison

HFIN.TO's dividend yield for the trailing twelve months is around 3.27%, more than CIF.TO's 1.77% yield.

PositionTTM20252024202320222021202020192018201720162015
CIF.TO
iShares Global Infrastructure Index ETF		1.77%2.05%2.84%2.36%2.53%2.24%2.06%1.83%2.45%2.27%1.81%2.41%
HFIN.TO
Hamilton Enhanced Canadian Financials ETF		3.27%3.51%4.59%6.09%6.37%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

HFIN.TO and CIF.TO have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, CIF.TO is cheaper at 0.72% per year. The better choice depends on whether you care most about return, fees, risk, or income.

CIF.TO is cheaper with a 0.72% expense ratio, compared with 2.18% for HFIN.TO.

HFIN.TO is categorized as Financials Equities, while CIF.TO is Energy Equities. HFIN.TO tracks Solactive Canadian Financials Equal-Weight Index, while CIF.TO tracks Manulife Investment Management Global Infrastructure Index. They also come from different issuers: Hamilton ETFs and iShares. Their fees differ too: 2.18% for HFIN.TO and 0.72% for CIF.TO.

Portfolio Optimizer

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