HYLD-U.TO vs. VOO

Last updated Jun 5, 2026

HYLD-U.TO (Hamilton Enhanced U.S. Covered Call ETF (USD)) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - HYLD-U.TO is a Derivative Income fund actively managed by Hamilton, while VOO is a S&P 500 fund tracking the S&P 500 Index. HYLD-U.TO is actively managed, while VOO is passively managed. Over the past 3 years, HYLD-U.TO returned 21.67%/yr vs 22.68%/yr for VOO. A 0.80 correlation means they provide meaningful diversification when combined.

Performance

HYLD-U.TO vs. VOO - 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 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HYLD-U.TO achieves a 15.25% return, which is significantly higher than VOO's 11.34% return.

HYLD-U.TO

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

VOO

• 1D: 0.39%
• 1M: 4.62%
• YTD: 11.34%
• 6M: 11.27%
• 1Y: 28.62%
• 3Y*: 22.68%
• 5Y*: 13.98%
• 10Y*: 15.55%

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

HYLD-U.TO vs. VOO - 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%
VOO Vanguard S&P 500 ETF	11.34%	17.82%	24.98%	26.32%	-13.82%

Correlation

The correlation between HYLD-U.TO and VOO is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (All Time) Calculated using the full available price history since Feb 9, 2022	0.80

The correlation between HYLD-U.TO and VOO has been stable across timeframes, ranging from 0.80 to 0.86 - a consistent structural relationship.

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

Sectors	HYLD-U.TO	VOO
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. VOO — 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

VOO

VOO Risk / Return Rank: 74
VOO Sharpe Ratio Rank: 76
VOO Sortino Ratio Rank: 75
VOO Omega Ratio Rank: 75
VOO Calmar Ratio Rank: 66
VOO Martin Ratio Rank: 78

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. VOO - 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 ETF (VOO). 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	VOO	Difference
Sharpe ratio: Return per unit of total volatility	2.55	2.44	+0.11
Sortino ratio: Return per unit of downside risk	3.45	3.31	+0.14
Omega ratio: Gain probability vs. loss probability	1.45	1.44	+0.01
Calmar ratio: Return relative to maximum drawdown	3.06	3.23	-0.17
Martin ratio: Return relative to average drawdown	13.05	15.03	-1.98
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. VOO - Sharpe Ratio Comparison

The current HYLD-U.TO Sharpe Ratio is 2.55, which is comparable to the VOO Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of HYLD-U.TO and VOO, 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	VOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.55	2.44	+0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.84	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.89	-0.30

Drawdowns

HYLD-U.TO vs. VOO - Drawdown Comparison

The maximum HYLD-U.TO drawdown since its inception was -31.64%, smaller than the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for HYLD-U.TO and VOO.

Drawdown Indicators

	HYLD-U.TO	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-31.64%	-33.99%	+2.35%
Max Drawdown (1Y) Largest decline over 1 year	-12.46%	-8.90%	-3.56%
Max Drawdown (3Y) Largest decline over 3 years	-22.66%	-18.69%	-3.97%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.52%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.99%	—
Current Drawdown Current decline from peak	-0.06%	-0.32%	+0.26%
Average Drawdown Average peak-to-trough decline	-9.72%	-3.69%	-6.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.92%	1.91%	+1.01%

Volatility

HYLD-U.TO vs. VOO - 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 ETF (VOO) at 2.78%. This indicates that HYLD-U.TO's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYLD-U.TO	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.18%	2.78%	+1.40%
Volatility (6M) Calculated over the trailing 6-month period	11.81%	8.90%	+2.91%
Volatility (1Y) Calculated over the trailing 1-year period	14.98%	11.80%	+3.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.73%	16.81%	+2.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.73%	18.00%	+1.73%

Dividends

HYLD-U.TO vs. VOO - Dividend Comparison

HYLD-U.TO's dividend yield for the trailing twelve months is around 7.56%, more than VOO's 1.02% 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%
VOO Vanguard S&P 500 ETF	1.02%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

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

HYLD-U.TO and VOO have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

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