HYLD-U.TO vs. VFV.TO

Last updated Jun 5, 2026

HYLD-U.TO (Hamilton Enhanced U.S. Covered Call ETF (USD)) and VFV.TO (Vanguard S&P 500 Index ETF) are both exchange-traded funds - HYLD-U.TO is a Derivative Income fund actively managed by Hamilton, while VFV.TO is a S&P 500 fund tracking the S&P 500 Index. HYLD-U.TO is actively managed, while VFV.TO is passively managed. Over the past 3 years, HYLD-U.TO returned 21.67%/yr vs 22.20%/yr for VFV.TO. Their correlation of 0.82 suggests significant overlap in exposure.

Performance

HYLD-U.TO vs. VFV.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 Vanguard S&P 500 Index ETF (VFV.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HYLD-U.TO is traded in USD, while VFV.TO is traded in CAD. To make them comparable, the VFV.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 VFV.TO's 10.91% return.

HYLD-U.TO

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

VFV.TO

• 1D: 0.00%
• 1M: 4.20%
• YTD: 10.91%
• 6M: 10.81%
• 1Y: 27.71%
• 3Y*: 22.20%
• 5Y*: 13.61%
• 10Y*: 15.18%

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

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

	2026 (YTD)	2025	2024	2023	2022
HYLD-U.TO Hamilton Enhanced U.S. Covered Call ETF (USD)	15.25%	19.83%	23.68%	17.40%	-20.88%
VFV.TO Vanguard S&P 500 Index ETF	11.28%	17.56%	24.55%	26.04%	-14.08%

Correlation

The correlation between HYLD-U.TO and VFV.TO is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (All Time) Calculated using the full available price history since Feb 9, 2022	0.83

The correlation between HYLD-U.TO and VFV.TO has been stable across timeframes, ranging from 0.82 to 0.91 - a consistent structural relationship.

HYLD-U.TO vs. VFV.TO - Sectors Allocation Comparison

Sectors	HYLD-U.TO	VFV.TO
Technology	33.9%	35.7%
Financial Services	12.4%	11.6%
Communication Services	11.3%	11.3%
Healthcare	9.8%	8.5%
Consumer Cyclical	8.1%	10.2%
Industrials	5.0%	8.3%
Basic Materials	5.0%	1.8%
Energy	4.9%	3.5%
Real Estate	3.8%	1.9%
Consumer Defensive	3.4%	4.9%
Utilities	2.4%	2.4%

Return for Risk

HYLD-U.TO vs. VFV.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: 74
HYLD-U.TO Sharpe Ratio Rank: 80
HYLD-U.TO Sortino Ratio Rank: 78
HYLD-U.TO Omega Ratio Rank: 77
HYLD-U.TO Calmar Ratio Rank: 62
HYLD-U.TO Martin Ratio Rank: 71

VFV.TO

VFV.TO Risk / Return Rank: 78
VFV.TO Sharpe Ratio Rank: 83
VFV.TO Sortino Ratio Rank: 82
VFV.TO Omega Ratio Rank: 83
VFV.TO Calmar Ratio Rank: 72
VFV.TO Martin Ratio Rank: 73

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. VFV.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 Vanguard S&P 500 Index ETF (VFV.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.TO	VFV.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.55	2.36	+0.19
Sortino ratio: Return per unit of downside risk	3.45	3.24	+0.22
Omega ratio: Gain probability vs. loss probability	1.45	1.42	+0.03
Calmar ratio: Return relative to maximum drawdown	3.06	3.13	-0.07
Martin ratio: Return relative to average drawdown	13.05	14.44	-1.39
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. VFV.TO - Sharpe Ratio Comparison

The current HYLD-U.TO Sharpe Ratio is 2.55, which is comparable to the VFV.TO Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of HYLD-U.TO and VFV.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.

Sharpe Ratios by Period

	HYLD-U.TO	VFV.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.55	2.36	+0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.81	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.83	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.88	-0.29

Drawdowns

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

The maximum HYLD-U.TO drawdown since its inception was -31.64%, smaller than the maximum VFV.TO drawdown of -33.93%. Use the drawdown chart below to compare losses from any high point for HYLD-U.TO and VFV.TO.

Drawdown Indicators

	HYLD-U.TO	VFV.TO	Difference
Max Drawdown Largest peak-to-trough decline	-31.64%	-33.93%	+2.29%
Max Drawdown (1Y) Largest decline over 1 year	-12.46%	-8.89%	-3.57%
Max Drawdown (3Y) Largest decline over 3 years	-22.66%	-18.82%	-3.84%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.60%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.93%	—
Current Drawdown Current decline from peak	-0.06%	-0.58%	+0.52%
Average Drawdown Average peak-to-trough decline	-9.72%	-3.74%	-5.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.92%	1.92%	+1.00%

Volatility

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

Hamilton Enhanced U.S. Covered Call ETF (USD) (HYLD-U.TO) has a higher volatility of 4.18% compared to Vanguard S&P 500 Index ETF (VFV.TO) at 3.19%. This indicates that HYLD-U.TO's price experiences larger fluctuations and is considered to be riskier than VFV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYLD-U.TO	VFV.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.18%	3.19%	+0.99%
Volatility (6M) Calculated over the trailing 6-month period	11.81%	8.91%	+2.90%
Volatility (1Y) Calculated over the trailing 1-year period	14.98%	11.79%	+3.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.73%	16.88%	+2.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.73%	18.31%	+1.42%

Dividends

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

HYLD-U.TO's dividend yield for the trailing twelve months is around 7.56%, more than VFV.TO's 0.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HYLD-U.TO Hamilton Enhanced U.S. Covered Call ETF (USD)	7.56%	8.06%	8.49%	8.82%	9.99%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VFV.TO Vanguard S&P 500 Index ETF	0.83%	0.92%	0.99%	1.20%	1.31%	1.06%	1.33%	1.55%	1.68%	1.50%	1.66%	1.63%

Frequently Asked Questions

Can I hold both HYLD-U.TO and VFV.TO in my portfolio?

With a correlation of 0.91, HYLD-U.TO and VFV.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

What is the main difference between HYLD-U.TO and VFV.TO?

HYLD-U.TO is categorized as Derivative Income, while VFV.TO is S&P 500. They also come from different issuers: Hamilton and Vanguard.