HPYT.TO vs. CBNK.TO
HPYT.TO (Harvest Premium Yield Treasury ETF A) and CBNK.TO (Mulvihill Canadian Bank Enhanced Yield ETF) are both Derivative Income funds. Both are actively managed. Over the past year, HPYT.TO returned 5.01% vs 79.20% for CBNK.TO. At a 0.19 correlation, their price movements are largely independent.
Performance
HPYT.TO vs. CBNK.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HPYT.TO achieves a -0.30% return, which is significantly lower than CBNK.TO's 25.56% return.
HPYT.TO
- 1D
- -0.31%
- 1M
- 0.63%
- YTD
- -0.30%
- 6M
- -1.79%
- 1Y
- 5.01%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CBNK.TO
- 1D
- 0.42%
- 1M
- 7.74%
- YTD
- 25.56%
- 6M
- 32.17%
- 1Y
- 79.20%
- 3Y*
- 38.97%
- 5Y*
- —
- 10Y*
- —
HPYT.TO vs. CBNK.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HPYT.TO Harvest Premium Yield Treasury ETF A | -0.30% | 4.39% | -5.96% | 4.46% |
CBNK.TO Mulvihill Canadian Bank Enhanced Yield ETF | 25.56% | 51.67% | 27.42% | 12.83% |
Correlation
The correlation between HPYT.TO and CBNK.TO is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2023 | 0.19 |
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Return for Risk
HPYT.TO vs. CBNK.TO — Risk / Return Rank
HPYT.TO
CBNK.TO
HPYT.TO vs. CBNK.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harvest Premium Yield Treasury ETF A (HPYT.TO) and Mulvihill Canadian Bank Enhanced Yield ETF (CBNK.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.
| HPYT.TO | CBNK.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.50 | ||
| Sortino ratioReturn per unit of downside risk | -5.84 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.87 | -0.76 |
| Calmar ratioReturn relative to maximum drawdown | 0.76 | 7.94 | -7.18 |
| Martin ratioReturn relative to average drawdown | 2.06 | 34.25 | -32.20 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HPYT.TO | CBNK.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.62 | 5.12 | -4.50 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.08 | 1.10 | -1.02 |
Drawdowns
HPYT.TO vs. CBNK.TO - Drawdown Comparison
The maximum HPYT.TO drawdown since its inception was -13.17%, smaller than the maximum CBNK.TO drawdown of -32.12%. Use the drawdown chart below to compare losses from any high point for HPYT.TO and CBNK.TO.
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Drawdown Indicators
| HPYT.TO | CBNK.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.17% | -32.12% | +18.95% |
Max Drawdown (1Y)Largest decline over 1 year | -6.61% | -10.03% | +3.42% |
Max Drawdown (3Y)Largest decline over 3 years | — | -17.92% | — |
Current DrawdownCurrent decline from peak | -7.33% | -2.29% | -5.04% |
Average DrawdownAverage peak-to-trough decline | -5.86% | -10.92% | +5.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.44% | 2.32% | +0.12% |
Volatility
HPYT.TO vs. CBNK.TO - Volatility Comparison
The current volatility for Harvest Premium Yield Treasury ETF A (HPYT.TO) is 2.78%, while Mulvihill Canadian Bank Enhanced Yield ETF (CBNK.TO) has a volatility of 5.67%. This indicates that HPYT.TO experiences smaller price fluctuations and is considered to be less risky than CBNK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HPYT.TO | CBNK.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.78% | 5.67% | -2.89% |
Volatility (6M)Calculated over the trailing 6-month period | 5.67% | 13.29% | -7.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.14% | 15.55% | -7.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.87% | 17.55% | -6.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.87% | 17.55% | -6.68% |
Dividends
HPYT.TO vs. CBNK.TO - Dividend Comparison
HPYT.TO's dividend yield for the trailing twelve months is around 17.40%, more than CBNK.TO's 5.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CBNK.TO Mulvihill Canadian Bank Enhanced Yield ETF | 5.94% | 5.86% | 8.25% | 9.59% | 7.85% |
HPYT.TO Harvest Premium Yield Treasury ETF A | 17.40% | 18.87% | 18.61% | 3.71% | 0.00% |
Frequently Asked Questions
HPYT.TO and CBNK.TO have a correlation of 0.17, 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 Mulvihill.
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