HUTL.TO vs. HBNK.TO

Last updated Aug 5, 2026

HUTL.TO (Harvest Equal Weight Global Utilities Income ETF) and HBNK.TO (Global X Equal Weight Banks Index ETF) are both exchange-traded funds - HUTL.TO is a Utilities Equities fund actively managed by Harvest, while HBNK.TO is a Financials Equities fund tracking the Solactive Equal Weight Canada Banks Index. HUTL.TO is actively managed, while HBNK.TO is passively managed. Over the past 3 years, HUTL.TO returned 15.09%/yr vs 36.27%/yr for HBNK.TO. Their 0.25 correlation means their historical movements had little consistent relationship. HUTL.TO charges 0.67%/yr vs 0.09%/yr for HBNK.TO.

Performance

HUTL.TO vs. HBNK.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Harvest Equal Weight Global Utilities Income ETF (HUTL.TO) and Global X Equal Weight Banks Index ETF (HBNK.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HUTL.TO achieves a 9.80% return, which is significantly lower than HBNK.TO's 32.77% return.

HUTL.TO

• 1D: -0.10%
• 1M: -0.52%
• 6M: 4.29%
• YTD: 9.80%
• 1Y: 13.07%
• 3Y*: 15.09%
• 5Y*: 8.17%
• 10Y*: —
• ALL TIME*: 7.57%

HBNK.TO

• 1D: -0.20%
• 1M: 1.30%
• 6M: 30.35%
• YTD: 32.77%
• 1Y: 68.99%
• 3Y*: 36.27%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 36.66%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HBNK.TO Global X Equal Weight Banks Index ETF	CA$1.00M	CA$1.27M	CA$1.40M
HUTL.TO Harvest Equal Weight Global Utilities Income ETF	CA$1.01M	CA$1.14M	CA$1.22M

HUTL.TO vs. HBNK.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HUTL.TO Harvest Equal Weight Global Utilities Income ETF	9.80%	15.59%	14.70%	1.55%
HBNK.TO Global X Equal Weight Banks Index ETF	32.77%	43.71%	24.77%	9.82%

Correlation

The correlation between HUTL.TO and HBNK.TO is 0.14, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.14
Correlation (3Y) Balances recent behavior with more history.	0.25
Correlation (All Time) Calculated using the full available price history since Jul 7, 2023	0.25

The correlation between HUTL.TO and HBNK.TO shifts across timeframes, from 0.14 (1 year) to 0.25 (all time), reflecting how their relationship changes across market environments.

Return for Risk

HUTL.TO vs. HBNK.TO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HUTL.TO

HUTL.TO Risk / Return Rank: 51
HUTL.TO Sharpe Ratio Rank: 43
HUTL.TO Sortino Ratio Rank: 43
HUTL.TO Omega Ratio Rank: 42
HUTL.TO Calmar Ratio Rank: 73
HUTL.TO Martin Ratio Rank: 55

HBNK.TO

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HUTL.TO vs. HBNK.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harvest Equal Weight Global Utilities Income ETF (HUTL.TO) and Global X Equal Weight Banks Index ETF (HBNK.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.

	HUTL.TO	HBNK.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.22	4.89	-3.67
Sortino ratio: Return per unit of downside risk	1.81	6.13	-4.32
Omega ratio: Gain probability vs. loss probability	1.22	1.86	-0.63
Calmar ratio: Return relative to maximum drawdown	2.89	8.18	-5.29
Martin ratio: Return relative to average drawdown	7.27	33.89	-26.63

HUTL.TO vs. HBNK.TO - Sharpe Ratio Comparison

The current HUTL.TO Sharpe Ratio is 1.22, which is lower than the HBNK.TO Sharpe Ratio of 4.89. The chart below compares the historical Sharpe Ratios of HUTL.TO and HBNK.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HUTL.TO vs. HBNK.TO - Drawdown Comparison

The maximum HUTL.TO drawdown since its inception was -34.00%, which is greater than HBNK.TO's maximum drawdown of -14.78%. Use the drawdown chart below to compare losses from any high point for HUTL.TO and HBNK.TO.

Drawdown Indicators

	HUTL.TO	HBNK.TO	Difference
Max Drawdown Largest peak-to-trough decline	-34.00%	-14.78%	-19.22%
Max Drawdown (1Y) Largest decline over 1 year	-4.54%	-8.48%	+3.94%
Max Drawdown (3Y) Largest decline over 3 years	-8.39%	-13.14%	+4.75%
Max Drawdown (5Y) Largest decline over 5 years	-19.71%	—	—
Current Drawdown Current decline from peak	-3.45%	-2.92%	-0.53%
Average Drawdown Average peak-to-trough decline	-6.56%	-2.25%	-4.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.80%	2.04%	-0.24%

Volatility

HUTL.TO vs. HBNK.TO - Volatility Comparison

The current volatility for Harvest Equal Weight Global Utilities Income ETF (HUTL.TO) is 3.99%, while Global X Equal Weight Banks Index ETF (HBNK.TO) has a volatility of 6.02%. This indicates that HUTL.TO experiences smaller price fluctuations and is considered to be less risky than HBNK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HUTL.TO	HBNK.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.99%	6.02%	-2.03%
Volatility (6M) Calculated over the trailing 6-month period	9.33%	12.27%	-2.94%
Volatility (1Y) Calculated over the trailing 1-year period	10.77%	14.21%	-3.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.05%	12.97%	+0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.19%	12.97%	+2.22%

HUTL.TO vs. HBNK.TO - Expense Ratio Comparison

HUTL.TO has a 0.67% expense ratio, which is higher than HBNK.TO's 0.09% expense ratio.

Dividends

HUTL.TO vs. HBNK.TO - Dividend Comparison

HUTL.TO's dividend yield for the trailing twelve months is around 7.88%, more than HBNK.TO's 2.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
HBNK.TO Global X Equal Weight Banks Index ETF	2.57%	3.24%	4.15%	2.45%	0.00%	0.00%	0.00%	0.00%
HUTL.TO Harvest Equal Weight Global Utilities Income ETF	7.88%	7.94%	8.30%	8.56%	8.13%	7.16%	7.73%	6.76%

Frequently Asked Questions

Can I hold both HUTL.TO and HBNK.TO in my portfolio?

HUTL.TO and HBNK.TO have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HUTL.TO or HBNK.TO?

On fees, HBNK.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HUTL.TO or HBNK.TO?

HBNK.TO is cheaper with a 0.09% expense ratio, compared with 0.67% for HUTL.TO.

What is the main difference between HUTL.TO and HBNK.TO?

HUTL.TO is categorized as Utilities Equities, while HBNK.TO is Financials Equities. They also come from different issuers: Harvest and Global X. Their fees differ too: 0.67% for HUTL.TO and 0.09% for HBNK.TO.