HYLD.TO vs. HBTE.NEO
HYLD.TO (Hamilton Enhanced U.S. Covered Call ETF) and HBTE.NEO (Harvest Bitcoin Leaders Enhanced Income ETF) are both exchange-traded funds - HYLD.TO is a Derivative Income fund actively managed by Hamilton Capital, while HBTE.NEO is a Leveraged Cryptocurrency fund actively managed by Harvest. Both are actively managed. Over the past year, HYLD.TO returned 35.16% vs 67.21% for HBTE.NEO. A 0.64 correlation means they provide meaningful diversification when combined. HYLD.TO charges 2.37%/yr vs 0.75%/yr for HBTE.NEO.
Performance
HYLD.TO vs. HBTE.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, HYLD.TO achieves a 13.12% return, which is significantly lower than HBTE.NEO's 28.08% return.
HYLD.TO
- 1D
- 0.51%
- 1M
- 2.16%
- YTD
- 13.12%
- 6M
- 13.21%
- 1Y
- 35.16%
- 3Y*
- 22.69%
- 5Y*
- —
- 10Y*
- —
HBTE.NEO
- 1D
- 2.94%
- 1M
- 4.14%
- YTD
- 28.08%
- 6M
- 14.49%
- 1Y
- 67.21%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYLD.TO vs. HBTE.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HYLD.TO Hamilton Enhanced U.S. Covered Call ETF | 13.12% | 30.82% |
HBTE.NEO Harvest Bitcoin Leaders Enhanced Income ETF | 28.08% | 63.44% |
Correlation
The correlation between HYLD.TO and HBTE.NEO is 0.65, 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 | 0.65 |
Correlation (All Time) Calculated using the full available price history since Apr 30, 2025 | 0.64 |
The correlation between HYLD.TO and HBTE.NEO has been stable across timeframes, ranging from 0.64 to 0.65 - a consistent structural relationship.
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Return for Risk
HYLD.TO vs. HBTE.NEO — Risk / Return Rank
HYLD.TO
HBTE.NEO
HYLD.TO vs. HBTE.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hamilton Enhanced U.S. Covered Call ETF (HYLD.TO) and Harvest Bitcoin Leaders Enhanced Income ETF (HBTE.NEO). 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.TO | HBTE.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.15 | ||
| Sortino ratioReturn per unit of downside risk | +1.26 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.19 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.82 | 1.14 | +1.68 |
| Martin ratioReturn relative to average drawdown | 12.20 | 2.19 | +10.02 |
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Drawdowns
HYLD.TO vs. HBTE.NEO - Drawdown Comparison
The maximum HYLD.TO drawdown since its inception was -31.38%, smaller than the maximum HBTE.NEO drawdown of -55.67%. Use the drawdown chart below to compare losses from any high point for HYLD.TO and HBTE.NEO.
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Drawdown Indicators
| HYLD.TO | HBTE.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.38% | -55.67% | +24.29% |
Max Drawdown (1Y)Largest decline over 1 year | -12.01% | -55.67% | +43.66% |
Max Drawdown (3Y)Largest decline over 3 years | -21.83% | — | — |
Current DrawdownCurrent decline from peak | -2.28% | -24.58% | +22.30% |
Average DrawdownAverage peak-to-trough decline | -8.86% | -21.15% | +12.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.77% | 28.79% | -26.02% |
Volatility
HYLD.TO vs. HBTE.NEO - Volatility Comparison
The current volatility for Hamilton Enhanced U.S. Covered Call ETF (HYLD.TO) is 6.46%, while Harvest Bitcoin Leaders Enhanced Income ETF (HBTE.NEO) has a volatility of 18.57%. This indicates that HYLD.TO experiences smaller price fluctuations and is considered to be less risky than HBTE.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYLD.TO | HBTE.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.46% | 18.57% | -12.11% |
Volatility (6M)Calculated over the trailing 6-month period | 13.24% | 50.16% | -36.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.10% | 66.62% | -50.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.32% | 66.35% | -47.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.32% | 66.35% | -47.03% |
HYLD.TO vs. HBTE.NEO - Expense Ratio Comparison
HYLD.TO has a 2.37% expense ratio, which is higher than HBTE.NEO's 0.75% expense ratio.
Dividends
HYLD.TO vs. HBTE.NEO - Dividend Comparison
HYLD.TO's dividend yield for the trailing twelve months is around 11.49%, less than HBTE.NEO's 26.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
HBTE.NEO Harvest Bitcoin Leaders Enhanced Income ETF | 26.16% | 18.40% | 0.00% | 0.00% | 0.00% |
HYLD.TO Hamilton Enhanced U.S. Covered Call ETF | 11.49% | 11.98% | 12.13% | 12.11% | 13.02% |
Frequently Asked Questions
HYLD.TO and HBTE.NEO have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HBTE.NEO is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HBTE.NEO is cheaper with a 0.75% expense ratio, compared with 2.37% for HYLD.TO.
HYLD.TO is categorized as Derivative Income, while HBTE.NEO is Leveraged Cryptocurrency. They also come from different issuers: Hamilton Capital and Harvest. Their fees differ too: 2.37% for HYLD.TO and 0.75% for HBTE.NEO.
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