HUBL.TO vs. HCAL.TO
HUBL.TO (Harvest US Bank Leaders Income ETF) and HCAL.TO (Hamilton Enhanced Canadian Bank ETF) are both Financials Equities funds. HUBL.TO is actively managed, while HCAL.TO is passively managed. Over the past 5 years, HUBL.TO returned 7.61%/yr vs 25.28%/yr for HCAL.TO. A 0.68 correlation means they provide meaningful diversification when combined.
Performance
HUBL.TO vs. HCAL.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HUBL.TO achieves a 12.99% return, which is significantly lower than HCAL.TO's 46.44% return.
HUBL.TO
- 1D
- 1.49%
- 1M
- 6.45%
- 6M
- 12.52%
- YTD
- 12.99%
- 1Y
- 27.08%
- 3Y*
- 23.98%
- 5Y*
- 7.61%
- 10Y*
- —
HCAL.TO
- 1D
- 2.03%
- 1M
- 11.16%
- 6M
- 44.73%
- YTD
- 46.44%
- 1Y
- 97.75%
- 3Y*
- 46.31%
- 5Y*
- 25.28%
- 10Y*
- —
HUBL.TO vs. HCAL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
HUBL.TO Harvest US Bank Leaders Income ETF | 12.99% | 17.04% | 30.19% | -8.18% | -15.62% | 29.63% | 23.34% |
HCAL.TO Hamilton Enhanced Canadian Bank ETF | 46.44% | 54.09% | 29.04% | 11.73% | -17.54% | 50.25% | 16.92% |
Correlation
The correlation between HUBL.TO and HCAL.TO is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Oct 15, 2020 | 0.68 |
The correlation between HUBL.TO and HCAL.TO has been stable across timeframes, ranging from 0.62 to 0.69 - a consistent structural relationship.
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Return for Risk
HUBL.TO vs. HCAL.TO — Risk / Return Rank
HUBL.TO
HCAL.TO
HUBL.TO vs. HCAL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harvest US Bank Leaders Income ETF (HUBL.TO) and Hamilton Enhanced Canadian Bank ETF (HCAL.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.
| HUBL.TO | HCAL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.48 | ||
| Sortino ratioReturn per unit of downside risk | -5.26 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.99 | -0.74 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | 9.23 | -7.57 |
| Martin ratioReturn relative to average drawdown | 4.89 | 39.93 | -35.04 |
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Drawdowns
HUBL.TO vs. HCAL.TO - Drawdown Comparison
The maximum HUBL.TO drawdown since its inception was -51.30%, which is greater than HCAL.TO's maximum drawdown of -35.05%. Use the drawdown chart below to compare losses from any high point for HUBL.TO and HCAL.TO.
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Drawdown Indicators
| HUBL.TO | HCAL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.30% | -35.05% | -16.25% |
Max Drawdown (1Y)Largest decline over 1 year | -16.47% | -10.65% | -5.82% |
Max Drawdown (3Y)Largest decline over 3 years | -25.70% | -18.77% | -6.93% |
Max Drawdown (5Y)Largest decline over 5 years | -44.89% | -35.05% | -9.84% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -16.05% | -9.45% | -6.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.55% | 2.46% | +3.09% |
Volatility
HUBL.TO vs. HCAL.TO - Volatility Comparison
The current volatility for Harvest US Bank Leaders Income ETF (HUBL.TO) is 4.73%, while Hamilton Enhanced Canadian Bank ETF (HCAL.TO) has a volatility of 5.22%. This indicates that HUBL.TO experiences smaller price fluctuations and is considered to be less risky than HCAL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HUBL.TO | HCAL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.73% | 5.22% | -0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 15.57% | 14.63% | +0.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.66% | 16.76% | +2.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.99% | 17.31% | +7.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.95% | 17.01% | +11.94% |
Dividends
HUBL.TO vs. HCAL.TO - Dividend Comparison
HUBL.TO's dividend yield for the trailing twelve months is around 7.68%, more than HCAL.TO's 2.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
HCAL.TO Hamilton Enhanced Canadian Bank ETF | 2.97% | 4.20% | 6.12% | 7.37% | 7.46% | 4.27% | 2.66% | 0.00% | 0.00% |
HUBL.TO Harvest US Bank Leaders Income ETF | 7.68% | 8.32% | 7.78% | 8.87% | 7.40% | 5.83% | 7.13% | 5.84% | 6.42% |
Frequently Asked Questions
HUBL.TO and HCAL.TO have a correlation of 0.62, 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 Capital.
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