HYBR.TO vs. DIVS.TO

Last updated Jul 25, 2026

HYBR.TO (Global X Active Hybrid Bond and Preferred Share ETF) and DIVS.TO (Evolve Active Canadian Preferred Share Fund) are both exchange-traded funds - HYBR.TO is a Preferred Stock fund actively managed by Global X, while DIVS.TO is a Actively Managed fund actively managed by Evolve Funds Group Inc.. Both are actively managed. Over the past 5 years, HYBR.TO returned 8.80%/yr vs 6.01%/yr for DIVS.TO. At a 0.32 correlation, their price movements are largely independent. HYBR.TO charges 0.65%/yr vs 0.80%/yr for DIVS.TO.

Performance

HYBR.TO vs. DIVS.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Active Hybrid Bond and Preferred Share ETF (HYBR.TO) and Evolve Active Canadian Preferred Share Fund (DIVS.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HYBR.TO achieves a 7.65% return, which is significantly higher than DIVS.TO's 5.28% return.

HYBR.TO

• 1D: 0.09%
• 1M: 3.03%
• 6M: 7.84%
• YTD: 7.65%
• 1Y: 15.13%
• 3Y*: 19.70%
• 5Y*: 8.80%
• 10Y*: 8.45%
• ALL TIME*: 5.67%

DIVS.TO

• 1D: -0.38%
• 1M: 1.93%
• 6M: 5.70%
• YTD: 5.28%
• 1Y: 12.28%
• 3Y*: 15.03%
• 5Y*: 6.01%
• 10Y*: —
• ALL TIME*: 4.02%

*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)
DIVS.TO Evolve Active Canadian Preferred Share Fund	CA$83.46K	CA$44.26K	CA$19.33K
HYBR.TO Global X Active Hybrid Bond and Preferred Share ETF	CA$39.75K	CA$27.60K	CA$22.02K

HYBR.TO vs. DIVS.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HYBR.TO Global X Active Hybrid Bond and Preferred Share ETF	7.65%	17.73%	27.83%	6.98%	-15.95%	26.17%	5.51%	0.63%	-10.44%	3.46%
DIVS.TO Evolve Active Canadian Preferred Share Fund	5.28%	14.45%	20.78%	5.70%	-15.55%	19.87%	-1.19%	-1.14%	-9.96%	3.38%

Correlation

The correlation between HYBR.TO and DIVS.TO is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (All Time) Calculated using the full available price history since Sep 29, 2017	0.32

Over the past year, the correlation between HYBR.TO and DIVS.TO has dropped to 0.11 - well below their long-term average of 0.32, suggesting their price drivers have been diverging.

Return for Risk

HYBR.TO vs. DIVS.TO — Risk / Return Rank

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

HYBR.TO

HYBR.TO Risk / Return Rank: 93
HYBR.TO Sharpe Ratio Rank: 90
HYBR.TO Sortino Ratio Rank: 91
HYBR.TO Omega Ratio Rank: 90
HYBR.TO Calmar Ratio Rank: 97
HYBR.TO Martin Ratio Rank: 97

DIVS.TO

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

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.

HYBR.TO vs. DIVS.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Active Hybrid Bond and Preferred Share ETF (HYBR.TO) and Evolve Active Canadian Preferred Share Fund (DIVS.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.

	HYBR.TO	DIVS.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.22	2.28	-0.06
Sortino ratio: Return per unit of downside risk	3.26	3.43	-0.18
Omega ratio: Gain probability vs. loss probability	1.41	1.52	-0.10
Calmar ratio: Return relative to maximum drawdown	8.09	5.59	+2.50
Martin ratio: Return relative to average drawdown	30.43	21.54	+8.90

HYBR.TO vs. DIVS.TO - Sharpe Ratio Comparison

The current HYBR.TO Sharpe Ratio is 2.22, which is comparable to the DIVS.TO Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of HYBR.TO and DIVS.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

HYBR.TO vs. DIVS.TO - Drawdown Comparison

The maximum HYBR.TO drawdown since its inception was -46.65%, smaller than the maximum DIVS.TO drawdown of -49.95%. Use the drawdown chart below to compare losses from any high point for HYBR.TO and DIVS.TO.

Drawdown Indicators

	HYBR.TO	DIVS.TO	Difference
Max Drawdown Largest peak-to-trough decline	-46.65%	-49.95%	+3.30%
Max Drawdown (1Y) Largest decline over 1 year	-1.88%	-2.21%	+0.33%
Max Drawdown (3Y) Largest decline over 3 years	-7.27%	-6.50%	-0.77%
Max Drawdown (5Y) Largest decline over 5 years	-22.06%	-19.80%	-2.26%
Max Drawdown (10Y) Largest decline over 10 years	-46.65%	—	—
Current Drawdown Current decline from peak	-0.09%	-0.76%	+0.67%
Average Drawdown Average peak-to-trough decline	-7.93%	-9.00%	+1.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.50%	0.57%	-0.07%

Volatility

HYBR.TO vs. DIVS.TO - Volatility Comparison

Global X Active Hybrid Bond and Preferred Share ETF (HYBR.TO) has a higher volatility of 2.29% compared to Evolve Active Canadian Preferred Share Fund (DIVS.TO) at 1.46%. This indicates that HYBR.TO's price experiences larger fluctuations and is considered to be riskier than DIVS.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYBR.TO	DIVS.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.29%	1.46%	+0.83%
Volatility (6M) Calculated over the trailing 6-month period	4.53%	4.04%	+0.49%
Volatility (1Y) Calculated over the trailing 1-year period	6.83%	5.41%	+1.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.45%	7.65%	+2.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.98%	12.79%	+0.19%

HYBR.TO vs. DIVS.TO - Expense Ratio Comparison

HYBR.TO has a 0.65% expense ratio, which is lower than DIVS.TO's 0.80% expense ratio.

Dividends

HYBR.TO vs. DIVS.TO - Dividend Comparison

HYBR.TO's dividend yield for the trailing twelve months is around 4.55%, less than DIVS.TO's 4.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DIVS.TO Evolve Active Canadian Preferred Share Fund	4.94%	4.92%	5.30%	5.89%	5.87%	4.70%	5.37%	5.00%	4.70%	0.68%	0.00%	0.00%
HYBR.TO Global X Active Hybrid Bond and Preferred Share ETF	4.55%	4.31%	4.24%	5.28%	5.56%	3.94%	5.14%	4.78%	4.26%	3.70%	4.28%	4.34%

Frequently Asked Questions

Can I hold both HYBR.TO and DIVS.TO in my portfolio?

HYBR.TO and DIVS.TO have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HYBR.TO or DIVS.TO?

On fees, HYBR.TO is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HYBR.TO or DIVS.TO?

HYBR.TO is cheaper with a 0.65% expense ratio, compared with 0.80% for DIVS.TO.

What is the main difference between HYBR.TO and DIVS.TO?

HYBR.TO is categorized as Preferred Stock, while DIVS.TO is Actively Managed. They also come from different issuers: Global X and Evolve Funds Group Inc.. Their fees differ too: 0.65% for HYBR.TO and 0.80% for DIVS.TO.