HPYT.TO vs. FCMI.TO
HPYT.TO (Harvest Premium Yield Treasury ETF A) and FCMI.TO (Fidelity Canadian Monthly High Income ETF) are both exchange-traded funds - HPYT.TO is a Derivative Income fund actively managed by Harvest, while FCMI.TO is a Canada Equities fund actively managed by Fidelity. Both are actively managed. Over the past year, HPYT.TO returned 3.40% vs 19.66% for FCMI.TO. At a 0.12 correlation, their price movements are largely independent. HPYT.TO charges 0.45%/yr vs 0.50%/yr for FCMI.TO.
Performance
HPYT.TO vs. FCMI.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HPYT.TO achieves a -1.08% return, which is significantly lower than FCMI.TO's 9.25% return.
HPYT.TO
- 1D
- 0.39%
- 1M
- -1.78%
- 6M
- -1.78%
- YTD
- -1.08%
- 1Y
- 3.40%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FCMI.TO
- 1D
- 0.00%
- 1M
- -0.44%
- 6M
- 6.69%
- YTD
- 9.25%
- 1Y
- 19.66%
- 3Y*
- 13.93%
- 5Y*
- 8.04%
- 10Y*
- —
HPYT.TO vs. FCMI.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HPYT.TO Harvest Premium Yield Treasury ETF A | -1.08% | 4.39% | -5.96% | 6.05% |
FCMI.TO Fidelity Canadian Monthly High Income ETF | 9.25% | 15.02% | 13.11% | 3.68% |
Correlation
The correlation between HPYT.TO and FCMI.TO is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2023 | 0.12 |
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Return for Risk
HPYT.TO vs. FCMI.TO — Risk / Return Rank
HPYT.TO
FCMI.TO
HPYT.TO vs. FCMI.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 Fidelity Canadian Monthly High Income ETF (FCMI.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.
| HPYT.TO | FCMI.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.60 | ||
| Sortino ratioReturn per unit of downside risk | -4.11 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.80 | -0.73 |
| Calmar ratioReturn relative to maximum drawdown | 0.52 | 5.36 | -4.85 |
| Martin ratioReturn relative to average drawdown | 1.24 | 20.62 | -19.37 |
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Drawdowns
HPYT.TO vs. FCMI.TO - Drawdown Comparison
The maximum HPYT.TO drawdown since its inception was -13.17%, smaller than the maximum FCMI.TO drawdown of -63.80%. Use the drawdown chart below to compare losses from any high point for HPYT.TO and FCMI.TO.
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Drawdown Indicators
| HPYT.TO | FCMI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.17% | -63.80% | +50.63% |
Max Drawdown (1Y)Largest decline over 1 year | -6.61% | -3.62% | -2.99% |
Max Drawdown (3Y)Largest decline over 3 years | — | -6.63% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -10.00% | — |
Current DrawdownCurrent decline from peak | -8.06% | -18.96% | +10.90% |
Average DrawdownAverage peak-to-trough decline | -5.90% | -41.59% | +35.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.74% | 0.94% | +1.80% |
Volatility
HPYT.TO vs. FCMI.TO - Volatility Comparison
Harvest Premium Yield Treasury ETF A (HPYT.TO) has a higher volatility of 2.65% compared to Fidelity Canadian Monthly High Income ETF (FCMI.TO) at 2.08%. This indicates that HPYT.TO's price experiences larger fluctuations and is considered to be riskier than FCMI.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 | FCMI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.65% | 2.08% | +0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 6.01% | 4.99% | +1.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.93% | 6.39% | +1.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.81% | 7.80% | +3.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.81% | 22.19% | -11.38% |
HPYT.TO vs. FCMI.TO - Expense Ratio Comparison
HPYT.TO has a 0.45% expense ratio, which is lower than FCMI.TO's 0.50% expense ratio.
Dividends
HPYT.TO vs. FCMI.TO - Dividend Comparison
HPYT.TO's dividend yield for the trailing twelve months is around 17.22%, more than FCMI.TO's 3.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
FCMI.TO Fidelity Canadian Monthly High Income ETF | 3.28% | 3.38% | 3.63% | 4.09% | 3.73% | 2.76% | 6.22% |
HPYT.TO Harvest Premium Yield Treasury ETF A | 17.22% | 18.87% | 18.61% | 3.71% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HPYT.TO and FCMI.TO have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HPYT.TO is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HPYT.TO is cheaper with a 0.45% expense ratio, compared with 0.50% for FCMI.TO.
HPYT.TO is categorized as Derivative Income, while FCMI.TO is Canada Equities. They also come from different issuers: Harvest and Fidelity. Their fees differ too: 0.45% for HPYT.TO and 0.50% for FCMI.TO.
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