HHIS.TO vs. HBIL-U.TO

Last updated Jul 18, 2026

HHIS.TO (Harvest Diversified High Income Shares ETF) and HBIL-U.TO (Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units) are both exchange-traded funds - HHIS.TO is a Derivative Income fund actively managed by Harvest, while HBIL-U.TO is a Government Bonds fund actively managed by Hamilton. Both are actively managed. Over the past year, HHIS.TO returned 11.07% vs 6.60% for HBIL-U.TO. At a 0.01 correlation, their price movements are largely independent.

Performance

HHIS.TO vs. HBIL-U.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Harvest Diversified High Income Shares ETF (HHIS.TO) and Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units (HBIL-U.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HHIS.TO is traded in CAD, while HBIL-U.TO is traded in USD. To make them comparable, the HBIL-U.TO values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, HHIS.TO achieves a 5.07% return, which is significantly higher than HBIL-U.TO's 3.86% return.

HHIS.TO

• 1D: -2.03%
• 1M: -0.70%
• 6M: 3.30%
• YTD: 5.07%
• 1Y: 11.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HBIL-U.TO

• 1D: -0.00%
• 1M: 0.12%
• 6M: 2.21%
• YTD: 3.86%
• 1Y: 6.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HHIS.TO vs. HBIL-U.TO - Yearly Performance Comparison

	2026 (YTD)	2025
HHIS.TO Harvest Diversified High Income Shares ETF	5.07%	24.70%
HBIL-U.TO Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units	3.86%	-0.05%

Correlation

The correlation between HHIS.TO and HBIL-U.TO is -0.03, 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	-0.03
Correlation (All Time) Calculated using the full available price history since Jan 16, 2025	0.01

Return for Risk

HHIS.TO vs. HBIL-U.TO — Risk / Return Rank

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

HHIS.TO

HHIS.TO Risk / Return Rank: 17
HHIS.TO Sharpe Ratio Rank: 18
HHIS.TO Sortino Ratio Rank: 18
HHIS.TO Omega Ratio Rank: 17
HHIS.TO Calmar Ratio Rank: 16
HHIS.TO Martin Ratio Rank: 16

HBIL-U.TO

HBIL-U.TO Risk / Return Rank: 89
HBIL-U.TO Sharpe Ratio Rank: 87
HBIL-U.TO Sortino Ratio Rank: 86
HBIL-U.TO Omega Ratio Rank: 93
HBIL-U.TO Calmar Ratio Rank: 88
HBIL-U.TO Martin Ratio Rank: 89

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.

HHIS.TO vs. HBIL-U.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harvest Diversified High Income Shares ETF (HHIS.TO) and Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units (HBIL-U.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.

	HHIS.TO	HBIL-U.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.45	1.42	-0.97
Sortino ratio: Return per unit of downside risk	0.78	2.03	-1.26
Omega ratio: Gain probability vs. loss probability	1.09	1.25	-0.16
Calmar ratio: Return relative to maximum drawdown	0.46	1.65	-1.20
Martin ratio: Return relative to average drawdown	1.11	4.19	-3.08

HHIS.TO vs. HBIL-U.TO - Sharpe Ratio Comparison

The current HHIS.TO Sharpe Ratio is 0.45, which is lower than the HBIL-U.TO Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of HHIS.TO and HBIL-U.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

HHIS.TO vs. HBIL-U.TO - Drawdown Comparison

The maximum HHIS.TO drawdown since its inception was -31.83%, which is greater than HBIL-U.TO's maximum drawdown of -6.68%. Use the drawdown chart below to compare losses from any high point for HHIS.TO and HBIL-U.TO.

Drawdown Indicators

	HHIS.TO	HBIL-U.TO	Difference
Max Drawdown Largest peak-to-trough decline	-31.83%	-6.68%	-25.15%
Max Drawdown (1Y) Largest decline over 1 year	-24.43%	-4.01%	-20.42%
Current Drawdown Current decline from peak	-6.72%	-2.20%	-4.52%
Average Drawdown Average peak-to-trough decline	-8.44%	-2.26%	-6.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.03%	1.58%	+8.45%

Volatility

HHIS.TO vs. HBIL-U.TO - Volatility Comparison

Harvest Diversified High Income Shares ETF (HHIS.TO) has a higher volatility of 7.83% compared to Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units (HBIL-U.TO) at 1.82%. This indicates that HHIS.TO's price experiences larger fluctuations and is considered to be riskier than HBIL-U.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HHIS.TO	HBIL-U.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.83%	1.82%	+6.01%
Volatility (6M) Calculated over the trailing 6-month period	19.20%	3.60%	+15.60%
Volatility (1Y) Calculated over the trailing 1-year period	24.80%	4.68%	+20.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.47%	5.85%	+27.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.47%	5.85%	+27.62%

Dividends

HHIS.TO vs. HBIL-U.TO - Dividend Comparison

HHIS.TO's dividend yield for the trailing twelve months is around 28.56%, more than HBIL-U.TO's 6.74% yield.

Position	TTM	2025	2024
HBIL-U.TO Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units	6.74%	7.37%	2.40%
HHIS.TO Harvest Diversified High Income Shares ETF	28.56%	22.88%	0.00%

Frequently Asked Questions

Can I hold both HHIS.TO and HBIL-U.TO in my portfolio?

HHIS.TO and HBIL-U.TO have a correlation of -0.03, 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 HHIS.TO and HBIL-U.TO?

HHIS.TO is categorized as Derivative Income, while HBIL-U.TO is Government Bonds. They also come from different issuers: Harvest and Hamilton.