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HYLD-U.TO vs. DXQ.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HYLD-U.TO vs. DXQ.TO

Last updated Jun 5, 2026

HYLD-U.TO (Hamilton Enhanced U.S. Covered Call ETF (USD)) and DXQ.TO (Dynamic Active Enhanced Yield Covered Options ETF) are both Derivative Income funds. Both are actively managed. Over the past 3 years, HYLD-U.TO returned 21.67%/yr vs 15.98%/yr for DXQ.TO. A 0.68 correlation means they provide meaningful diversification when combined.

Performance

HYLD-U.TO vs. DXQ.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hamilton Enhanced U.S. Covered Call ETF (USD) (HYLD-U.TO) and Dynamic Active Enhanced Yield Covered Options ETF (DXQ.TO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

HYLD-U.TO is traded in USD, while DXQ.TO is traded in CAD. To make them comparable, the DXQ.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, HYLD-U.TO achieves a 15.25% return, which is significantly higher than DXQ.TO's 5.99% return.

HYLD-U.TO

1D
0.11%
1M
8.37%
YTD
15.25%
6M
14.75%
1Y
37.97%
3Y*
21.67%
5Y*
—
10Y*
—

DXQ.TO

1D
0.45%
1M
1.17%
YTD
5.99%
6M
6.65%
1Y
17.48%
3Y*
15.98%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

HYLD-U.TO vs. DXQ.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022
HYLD-U.TO
Hamilton Enhanced U.S. Covered Call ETF (USD)		15.25%19.83%23.68%17.40%1.06%
DXQ.TO
Dynamic Active Enhanced Yield Covered Options ETF		5.99%18.40%11.50%22.82%2.15%

Correlation

The correlation between HYLD-U.TO and DXQ.TO is 0.71, 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

0.71

Correlation (3Y)
Calculated over the trailing 3-year period

0.69

Correlation (All Time)
Calculated using the full available price history since Sep 21, 2022

0.68

The correlation between HYLD-U.TO and DXQ.TO has been stable across timeframes, ranging from 0.68 to 0.71 - a consistent structural relationship.

Compare stocks, funds, or ETFs

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Hamilton Enhanced U.S. Covered Call ETF (USD)

Dynamic Active Enhanced Yield Covered Options ETF

Often compared with HYLD-U.TO:
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Often compared with DXQ.TO:
DXQ.TO vs. ECHI.TODXQ.TO vs. DXBB.TODXQ.TO vs. YCST.NEODXQ.TO vs. DXU.TODXQ.TO vs. HHIS.TODXQ.TO vs. CRCY.TODXQ.TO vs. BKCL.TO

Return for Risk

HYLD-U.TO vs. DXQ.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HYLD-U.TO
HYLD-U.TO Risk / Return Rank: 7474
Overall Rank
HYLD-U.TO Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
HYLD-U.TO Sortino Ratio Rank: 7878
Sortino Ratio Rank
HYLD-U.TO Omega Ratio Rank: 7777
Omega Ratio Rank
HYLD-U.TO Calmar Ratio Rank: 6262
Calmar Ratio Rank
HYLD-U.TO Martin Ratio Rank: 7171
Martin Ratio Rank
DXQ.TO
DXQ.TO Risk / Return Rank: 6868
Overall Rank
DXQ.TO Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
DXQ.TO Sortino Ratio Rank: 6666
Sortino Ratio Rank
DXQ.TO Omega Ratio Rank: 6969
Omega Ratio Rank
DXQ.TO Calmar Ratio Rank: 7777
Calmar Ratio Rank
DXQ.TO Martin Ratio Rank: 6161
Martin Ratio Rank
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.

HYLD-U.TO vs. DXQ.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hamilton Enhanced U.S. Covered Call ETF (USD) (HYLD-U.TO) and Dynamic Active Enhanced Yield Covered Options ETF (DXQ.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.

HYLD-U.TODXQ.TODifference
Sharpe ratioReturn per unit of total volatility
2.55
1.84

+0.70

Sortino ratioReturn per unit of downside risk
3.45
2.68

+0.77

Omega ratioGain probability vs. loss probability

1.45

1.34

+0.10

Calmar ratioReturn relative to maximum drawdown

3.06

3.13

-0.07

Martin ratioReturn relative to average drawdown

13.05

11.79

+1.27

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HYLD-U.TO vs. DXQ.TO - Sharpe Ratio Comparison

The current HYLD-U.TO Sharpe Ratio is 2.55, which is higher than the DXQ.TO Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of HYLD-U.TO and DXQ.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.

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Sharpe Ratios by Period

HYLD-U.TODXQ.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.55

1.84

+0.70

Sharpe Ratio (All Time)

Calculated using the full available price history

0.59

1.34

-0.75

Drawdowns

HYLD-U.TO vs. DXQ.TO - Drawdown Comparison

The maximum HYLD-U.TO drawdown since its inception was -31.64%, which is greater than DXQ.TO's maximum drawdown of -14.95%. Use the drawdown chart below to compare losses from any high point for HYLD-U.TO and DXQ.TO.

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Drawdown Indicators

HYLD-U.TODXQ.TODifference

Max Drawdown

Largest peak-to-trough decline

-31.64%

-14.95%

-16.69%

Max Drawdown (1Y)

Largest decline over 1 year

-12.46%

-5.61%

-6.85%

Max Drawdown (3Y)

Largest decline over 3 years

-22.66%

-14.95%

-7.71%

Current Drawdown

Current decline from peak

-0.06%

-0.62%

+0.56%

Average Drawdown

Average peak-to-trough decline

-9.72%

-1.24%

-8.48%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.92%

1.49%

+1.43%

Volatility

HYLD-U.TO vs. DXQ.TO - Volatility Comparison

Hamilton Enhanced U.S. Covered Call ETF (USD) (HYLD-U.TO) has a higher volatility of 4.18% compared to Dynamic Active Enhanced Yield Covered Options ETF (DXQ.TO) at 2.76%. This indicates that HYLD-U.TO's price experiences larger fluctuations and is considered to be riskier than DXQ.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HYLD-U.TODXQ.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.18%

2.76%

+1.42%

Volatility (6M)

Calculated over the trailing 6-month period

11.81%

7.43%

+4.38%

Volatility (1Y)

Calculated over the trailing 1-year period

14.98%

9.54%

+5.44%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.73%

12.31%

+7.42%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.73%

12.31%

+7.42%

Dividends

HYLD-U.TO vs. DXQ.TO - Dividend Comparison

HYLD-U.TO's dividend yield for the trailing twelve months is around 7.56%, less than DXQ.TO's 7.73% yield.

PositionTTM2025202420232022
DXQ.TO
Dynamic Active Enhanced Yield Covered Options ETF		7.73%7.45%5.74%6.54%1.83%
HYLD-U.TO
Hamilton Enhanced U.S. Covered Call ETF (USD)		7.56%8.06%8.49%8.82%9.99%

Frequently Asked Questions

HYLD-U.TO and DXQ.TO have a correlation of 0.71, 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: Hamilton and Dynamic.

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