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

HYLD-U.TO vs. FCMI.TO

Last updated Jul 16, 2026
Documentation

HYLD-U.TO (Hamilton Enhanced U.S. Covered Call ETF (USD)) and FCMI.TO (Fidelity Canadian Monthly High Income ETF) are both exchange-traded funds - HYLD-U.TO is a Derivative Income fund actively managed by Hamilton, while FCMI.TO is a Canada Equities fund actively managed by Fidelity. Both are actively managed. Over the past 3 years, HYLD-U.TO returned 24.45%/yr vs 11.33%/yr for FCMI.TO. At a 0.16 correlation, their price movements are largely independent.

Performance

HYLD-U.TO vs. FCMI.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 Fidelity Canadian Monthly High Income ETF (FCMI.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 FCMI.TO is traded in CAD. To make them comparable, the FCMI.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 16.64% return, which is significantly higher than FCMI.TO's 6.47% return.

HYLD-U.TO

1D
-0.35%
1M
-0.84%
6M
15.17%
YTD
16.64%
1Y
35.28%
3Y*
24.45%
5Y*
—
10Y*
—

FCMI.TO

1D
0.70%
1M
-0.56%
6M
6.14%
YTD
6.47%
1Y
16.36%
3Y*
11.33%
5Y*
5.69%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)2025202420232022
HYLD-U.TO
Hamilton Enhanced U.S. Covered Call ETF (USD)		16.64%24.06%27.79%21.20%-18.29%
FCMI.TO
Fidelity Canadian Monthly High Income ETF		6.47%20.52%4.28%8.06%-9.12%

Correlation

The correlation between HYLD-U.TO and FCMI.TO is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.17

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

0.17

Correlation (All Time)
Calculated using the full available price history since Feb 7, 2022

0.16

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

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

Fidelity Canadian Monthly High Income ETF

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Return for Risk

HYLD-U.TO vs. FCMI.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: 7878
Overall Rank
HYLD-U.TO Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
HYLD-U.TO Sortino Ratio Rank: 7979
Sortino Ratio Rank
HYLD-U.TO Omega Ratio Rank: 7878
Omega Ratio Rank
HYLD-U.TO Calmar Ratio Rank: 7272
Calmar Ratio Rank
HYLD-U.TO Martin Ratio Rank: 8080
Martin Ratio Rank
FCMI.TO
FCMI.TO Risk / Return Rank: 9595
Overall Rank
FCMI.TO Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
FCMI.TO Sortino Ratio Rank: 9696
Sortino Ratio Rank
FCMI.TO Omega Ratio Rank: 9797
Omega Ratio Rank
FCMI.TO Calmar Ratio Rank: 9494
Calmar Ratio Rank
FCMI.TO Martin Ratio Rank: 9494
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. FCMI.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 Fidelity Canadian Monthly High Income ETF (FCMI.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.

HYLD-U.TOFCMI.TODifference
Sharpe ratioReturn per unit of total volatility
2.09
2.13

-0.04

Sortino ratioReturn per unit of downside risk
2.82
3.22

-0.40

Omega ratioGain probability vs. loss probability

1.36

1.39

-0.03

Calmar ratioReturn relative to maximum drawdown

2.95

3.61

-0.65

Martin ratioReturn relative to average drawdown

12.30

12.01

+0.29

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

The current HYLD-U.TO Sharpe Ratio is 2.09, which is comparable to the FCMI.TO Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of HYLD-U.TO and FCMI.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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Drawdowns

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

The maximum HYLD-U.TO drawdown since its inception was -30.85%, smaller than the maximum FCMI.TO drawdown of -67.32%. Use the drawdown chart below to compare losses from any high point for HYLD-U.TO and FCMI.TO.

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Drawdown Indicators

HYLD-U.TOFCMI.TODifference

Max Drawdown

Largest peak-to-trough decline

-30.85%

-67.32%

+36.47%

Max Drawdown (1Y)

Largest decline over 1 year

-11.99%

-4.56%

-7.43%

Max Drawdown (3Y)

Largest decline over 3 years

-21.91%

-9.20%

-12.71%

Max Drawdown (5Y)

Largest decline over 5 years

—

-18.04%

—

Current Drawdown

Current decline from peak

-2.18%

-24.71%

+22.53%

Average Drawdown

Average peak-to-trough decline

-8.28%

-43.14%

+34.86%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.87%

1.37%

+1.50%

Volatility

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

Hamilton Enhanced U.S. Covered Call ETF (USD) (HYLD-U.TO) has a higher volatility of 6.37% compared to Fidelity Canadian Monthly High Income ETF (FCMI.TO) at 2.68%. This indicates that HYLD-U.TO's price experiences larger fluctuations and is considered to be riskier than FCMI.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.TOFCMI.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.37%

2.68%

+3.69%

Volatility (6M)

Calculated over the trailing 6-month period

14.20%

6.00%

+8.20%

Volatility (1Y)

Calculated over the trailing 1-year period

16.96%

7.73%

+9.23%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.67%

10.21%

+9.46%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.67%

23.46%

-3.79%

Dividends

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

HYLD-U.TO's dividend yield for the trailing twelve months is around 10.64%, more than FCMI.TO's 3.28% yield.

PositionTTM202520242023202220212020
FCMI.TO
Fidelity Canadian Monthly High Income ETF		3.28%3.38%3.63%4.09%3.73%2.76%6.22%
HYLD-U.TO
Hamilton Enhanced U.S. Covered Call ETF (USD)		10.64%11.26%11.65%11.90%13.05%0.00%0.00%

Frequently Asked Questions

HYLD-U.TO and FCMI.TO have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

HYLD-U.TO is categorized as Derivative Income, while FCMI.TO is Canada Equities. They also come from different issuers: Hamilton and Fidelity.

Portfolio Optimizer

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