HUTS.TO vs. HDIV.TO

Last updated Jun 14, 2026

HUTS.TO (Hamilton Enhanced Utilities ETF) and HDIV.TO (Hamilton Enhanced Canadian Covered Call ETF) are both exchange-traded funds - HUTS.TO is a Utilities Equities fund tracking the Solactive Canadian Utility Services High Dividend Index TR, while HDIV.TO is a Derivative Income fund actively managed by Hamilton ETFs. HUTS.TO is passively managed, while HDIV.TO is actively managed. Over the past 3 years, HUTS.TO returned 14.74%/yr vs 27.78%/yr for HDIV.TO. At a 0.46 correlation, their price movements are largely independent. HUTS.TO charges 2.06%/yr vs 0.00%/yr for HDIV.TO.

Performance

HUTS.TO vs. HDIV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Hamilton Enhanced Utilities ETF (HUTS.TO) and Hamilton Enhanced Canadian Covered Call ETF (HDIV.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HUTS.TO achieves a 20.32% return, which is significantly higher than HDIV.TO's 17.07% return.

HUTS.TO

• 1D: -0.73%
• 1M: 4.35%
• YTD: 20.32%
• 6M: 21.83%
• 1Y: 35.24%
• 3Y*: 14.74%
• 5Y*: —
• 10Y*: —

HDIV.TO

• 1D: 1.08%
• 1M: 3.72%
• YTD: 17.07%
• 6M: 17.58%
• 1Y: 45.74%
• 3Y*: 27.78%
• 5Y*: —
• 10Y*: —

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

HUTS.TO vs. HDIV.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
HUTS.TO Hamilton Enhanced Utilities ETF	20.32%	21.29%	9.40%	-3.91%	-12.96%
HDIV.TO Hamilton Enhanced Canadian Covered Call ETF	17.07%	33.87%	23.15%	13.91%	5.45%

Correlation

The correlation between HUTS.TO and HDIV.TO is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (All Time) Calculated using the full available price history since Sep 6, 2022	0.46

Over the past year, the correlation between HUTS.TO and HDIV.TO has dropped to 0.08 - well below their long-term average of 0.46, suggesting their price drivers have been diverging.

HUTS.TO vs. HDIV.TO - Sectors Allocation Comparison

Sectors	HUTS.TO	HDIV.TO
Utilities	41.3%	4.7%
Energy	35.1%	18.4%
Communication Services	23.6%	6.3%
Basic Materials	-	13.4%
Consumer Cyclical	-	2.5%
Consumer Defensive	-	0.3%
Financial Services	-	39.8%
Healthcare	-	0.2%
Industrials	-	3.0%
Real Estate	-	2.1%
Technology	-	9.5%

Return for Risk

HUTS.TO vs. HDIV.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HUTS.TO

HUTS.TO Risk / Return Rank: 94
HUTS.TO Sharpe Ratio Rank: 96
HUTS.TO Sortino Ratio Rank: 96
HUTS.TO Omega Ratio Rank: 95
HUTS.TO Calmar Ratio Rank: 93
HUTS.TO Martin Ratio Rank: 91

HDIV.TO

HDIV.TO Risk / Return Rank: 94
HDIV.TO Sharpe Ratio Rank: 96
HDIV.TO Sortino Ratio Rank: 95
HDIV.TO Omega Ratio Rank: 95
HDIV.TO Calmar Ratio Rank: 91
HDIV.TO Martin Ratio Rank: 95

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HUTS.TO vs. HDIV.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hamilton Enhanced Utilities ETF (HUTS.TO) and Hamilton Enhanced Canadian Covered Call ETF (HDIV.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.

	HUTS.TO	HDIV.TO	Difference
Sharpe ratio: Return per unit of total volatility	3.70	3.55	+0.15
Sortino ratio: Return per unit of downside risk	5.25	4.51	+0.73
Omega ratio: Gain probability vs. loss probability	1.68	1.65	+0.03
Calmar ratio: Return relative to maximum drawdown	6.06	5.23	+0.83
Martin ratio: Return relative to average drawdown	19.00	25.02	-6.02

HUTS.TO vs. HDIV.TO - Sharpe Ratio Comparison

The current HUTS.TO Sharpe Ratio is 3.70, which is comparable to the HDIV.TO Sharpe Ratio of 3.55. The chart below compares the historical Sharpe Ratios of HUTS.TO and HDIV.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

HUTS.TO vs. HDIV.TO - Drawdown Comparison

The maximum HUTS.TO drawdown since its inception was -30.57%, which is greater than HDIV.TO's maximum drawdown of -22.32%. Use the drawdown chart below to compare losses from any high point for HUTS.TO and HDIV.TO.

Drawdown Indicators

	HUTS.TO	HDIV.TO	Difference
Max Drawdown Largest peak-to-trough decline	-30.57%	-22.32%	-8.25%
Max Drawdown (1Y) Largest decline over 1 year	-5.84%	-8.73%	+2.89%
Max Drawdown (3Y) Largest decline over 3 years	-20.25%	-14.58%	-5.67%
Current Drawdown Current decline from peak	-0.73%	-0.13%	-0.60%
Average Drawdown Average peak-to-trough decline	-9.99%	-4.21%	-5.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.86%	1.82%	+0.04%

Volatility

HUTS.TO vs. HDIV.TO - Volatility Comparison

The current volatility for Hamilton Enhanced Utilities ETF (HUTS.TO) is 3.41%, while Hamilton Enhanced Canadian Covered Call ETF (HDIV.TO) has a volatility of 4.51%. This indicates that HUTS.TO experiences smaller price fluctuations and is considered to be less risky than HDIV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HUTS.TO	HDIV.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.41%	4.51%	-1.10%
Volatility (6M) Calculated over the trailing 6-month period	7.73%	10.74%	-3.01%
Volatility (1Y) Calculated over the trailing 1-year period	9.58%	12.86%	-3.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.98%	15.64%	-0.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.98%	15.64%	-0.66%

HUTS.TO vs. HDIV.TO - Expense Ratio Comparison

HUTS.TO has a 2.06% expense ratio, which is higher than HDIV.TO's 0.00% expense ratio.

Dividends

HUTS.TO vs. HDIV.TO - Dividend Comparison

HUTS.TO's dividend yield for the trailing twelve months is around 5.43%, less than HDIV.TO's 9.27% yield.

Position	TTM	2025	2024	2023	2022	2021
HDIV.TO Hamilton Enhanced Canadian Covered Call ETF	9.27%	10.09%	11.38%	10.41%	9.64%	3.37%
HUTS.TO Hamilton Enhanced Utilities ETF	5.43%	6.45%	7.45%	7.83%	2.33%	0.00%

Frequently Asked Questions

Can I hold both HUTS.TO and HDIV.TO in my portfolio?

HUTS.TO and HDIV.TO have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HUTS.TO or HDIV.TO?

On fees, HDIV.TO is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HUTS.TO or HDIV.TO?

HDIV.TO is cheaper with a 0.00% expense ratio, compared with 2.06% for HUTS.TO.

What is the main difference between HUTS.TO and HDIV.TO?

HUTS.TO is categorized as Utilities Equities, while HDIV.TO is Derivative Income. They also come from different issuers: Hamilton and Hamilton ETFs. Their fees differ too: 2.06% for HUTS.TO and 0.00% for HDIV.TO.