HPYM.TO vs. HBIL-U.TO
HPYM.TO (Harvest Premium Yield 7-10 Year Treasury ETF - Class A Units) and HBIL-U.TO (Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units) are both Government Bonds funds. Both are actively managed. Over the past year, HPYM.TO returned 2.56% vs 6.60% for HBIL-U.TO. At a 0.26 correlation, their price movements are largely independent.
Performance
HPYM.TO vs. HBIL-U.TO - Performance Comparison
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Different Trading Currencies
HPYM.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, HPYM.TO achieves a -1.06% return, which is significantly lower than HBIL-U.TO's 3.86% return.
HPYM.TO
- 1D
- 0.10%
- 1M
- -0.00%
- 6M
- -0.88%
- YTD
- -1.06%
- 1Y
- 2.56%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HBIL-U.TO
- 1D
- -0.00%
- 1M
- 0.12%
- 6M
- 2.21%
- YTD
- 3.86%
- 1Y
- 6.60%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HPYM.TO vs. HBIL-U.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HPYM.TO Harvest Premium Yield 7-10 Year Treasury ETF - Class A Units | -1.06% | 6.72% | -4.89% |
HBIL-U.TO Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units | 3.86% | 0.03% | 4.69% |
Correlation
The correlation between HPYM.TO and HBIL-U.TO is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2024 | 0.26 |
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Return for Risk
HPYM.TO vs. HBIL-U.TO — Risk / Return Rank
HPYM.TO
HBIL-U.TO
HPYM.TO vs. HBIL-U.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harvest Premium Yield 7-10 Year Treasury ETF - Class A Units (HPYM.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.
| HPYM.TO | HBIL-U.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.87 | ||
| Sortino ratioReturn per unit of downside risk | -1.23 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.25 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.66 | 1.65 | -0.99 |
| Martin ratioReturn relative to average drawdown | 1.60 | 4.19 | -2.59 |
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Drawdowns
HPYM.TO vs. HBIL-U.TO - Drawdown Comparison
The maximum HPYM.TO drawdown since its inception was -6.19%, smaller than the maximum HBIL-U.TO drawdown of -6.68%. Use the drawdown chart below to compare losses from any high point for HPYM.TO and HBIL-U.TO.
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Drawdown Indicators
| HPYM.TO | HBIL-U.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.19% | -6.68% | +0.49% |
Max Drawdown (1Y)Largest decline over 1 year | -3.87% | -4.01% | +0.14% |
Current DrawdownCurrent decline from peak | -2.54% | -2.20% | -0.34% |
Average DrawdownAverage peak-to-trough decline | -1.96% | -2.26% | +0.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.61% | 1.58% | +0.03% |
Volatility
HPYM.TO vs. HBIL-U.TO - Volatility Comparison
Harvest Premium Yield 7-10 Year Treasury ETF - Class A Units (HPYM.TO) has a higher volatility of 2.06% compared to Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units (HBIL-U.TO) at 1.82%. This indicates that HPYM.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.
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Volatility by Period
| HPYM.TO | HBIL-U.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.06% | 1.82% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 3.84% | 3.60% | +0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.73% | 4.68% | +0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.64% | 5.85% | -0.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.64% | 5.85% | -0.21% |
Dividends
HPYM.TO vs. HBIL-U.TO - Dividend Comparison
HPYM.TO's dividend yield for the trailing twelve months is around 9.33%, 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% |
HPYM.TO Harvest Premium Yield 7-10 Year Treasury ETF - Class A Units | 9.33% | 9.01% | 8.07% |
Frequently Asked Questions
HPYM.TO and HBIL-U.TO have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Harvest and Hamilton.
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