HPYE.TO vs. HCA.TO

Last updated Jun 13, 2026

HPYE.TO (Harvest Premium Yield Enhanced ETF) and HCA.TO (Hamilton Canadian Bank Mean Reversion Index ETF) are both exchange-traded funds - HPYE.TO is a Derivative Income fund actively managed by Harvest Portfolios Group, while HCA.TO is a Canada Equities fund tracking the Solactive Canadian Bank Mean Reversion Index. HPYE.TO is actively managed, while HCA.TO is passively managed. A 0.53 correlation means they provide meaningful diversification when combined. HPYE.TO charges 0.65%/yr vs 0.45%/yr for HCA.TO.

Performance

HPYE.TO vs. HCA.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Harvest Premium Yield Enhanced ETF (HPYE.TO) and Hamilton Canadian Bank Mean Reversion Index ETF (HCA.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HPYE.TO

• 1D: 0.36%
• 1M: 3.48%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HCA.TO

• 1D: 1.03%
• 1M: 10.26%
• YTD: 27.33%
• 6M: 28.07%
• 1Y: 71.89%
• 3Y*: 34.65%
• 5Y*: 19.13%
• 10Y*: —

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

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

	2026 (YTD)
HPYE.TO Harvest Premium Yield Enhanced ETF	10.60%
HCA.TO Hamilton Canadian Bank Mean Reversion Index ETF	27.48%

Correlation

The correlation between HPYE.TO and HCA.TO is 0.53, 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 21, 2026	0.53

Return for Risk

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

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

HPYE.TO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

HCA.TO

HCA.TO Risk / Return Rank: 98
HCA.TO Sharpe Ratio Rank: 98
HCA.TO Sortino Ratio Rank: 98
HCA.TO Omega Ratio Rank: 98
HCA.TO Calmar Ratio Rank: 96
HCA.TO Martin Ratio Rank: 97

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.

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

This table presents a comparison of risk-adjusted performance metrics for Harvest Premium Yield Enhanced ETF (HPYE.TO) and Hamilton Canadian Bank Mean Reversion Index ETF (HCA.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.

	HPYE.TO	HCA.TO	Difference
Sharpe ratio: Return per unit of total volatility	—	5.49	—
Sortino ratio: Return per unit of downside risk	—	7.92	—
Omega ratio: Gain probability vs. loss probability	—	2.09	—
Calmar ratio: Return relative to maximum drawdown	—	8.41	—
Martin ratio: Return relative to average drawdown	—	38.16	—

Drawdowns

HPYE.TO vs. HCA.TO - Drawdown Comparison

The maximum HPYE.TO drawdown since its inception was -5.51%, smaller than the maximum HCA.TO drawdown of -37.89%. Use the drawdown chart below to compare losses from any high point for HPYE.TO and HCA.TO.

Drawdown Indicators

	HPYE.TO	HCA.TO	Difference
Max Drawdown Largest peak-to-trough decline	-5.51%	-37.89%	+32.38%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.52%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-15.16%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.63%	—
Current Drawdown Current decline from peak	-0.52%	0.00%	-0.52%
Average Drawdown Average peak-to-trough decline	-1.35%	-7.63%	+6.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.87%	—

Volatility

Volatility by Period

	HPYE.TO	HCA.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.29%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.18%	—
Volatility (1Y) Calculated over the trailing 1-year period	12.90%	13.07%	-0.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.90%	14.09%	-1.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.90%	22.88%	-9.98%

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

HPYE.TO has a 0.65% expense ratio, which is higher than HCA.TO's 0.45% expense ratio.

Dividends

HPYE.TO vs. HCA.TO - Dividend Comparison

HPYE.TO's dividend yield for the trailing twelve months is around 5.06%, more than HCA.TO's 2.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
HCA.TO Hamilton Canadian Bank Mean Reversion Index ETF	2.74%	3.44%	4.83%	8.98%	5.45%	4.17%	3.54%
HPYE.TO Harvest Premium Yield Enhanced ETF	5.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

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

HPYE.TO and HCA.TO have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

On fees, HCA.TO is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

HCA.TO is cheaper with a 0.45% expense ratio, compared with 0.65% for HPYE.TO.

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

HPYE.TO is categorized as Derivative Income, while HCA.TO is Canada Equities. They also come from different issuers: Harvest Portfolios Group and Hamilton. Their fees differ too: 0.65% for HPYE.TO and 0.45% for HCA.TO.