HYLD vs. HDIV.TO

Last updated Jun 14, 2026

HYLD (High Yield ETF) and HDIV.TO (Hamilton Enhanced Canadian Covered Call ETF) are both exchange-traded funds - HYLD is a High Yield Bonds fund actively managed by Eve Capital, while HDIV.TO is a Derivative Income fund actively managed by Hamilton ETFs. Both are actively managed. At a 0.24 correlation, their price movements are largely independent. HYLD charges 1.29%/yr vs 0.00%/yr for HDIV.TO.

Performance

HYLD vs. HDIV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in High Yield ETF (HYLD) and Hamilton Enhanced Canadian Covered Call ETF (HDIV.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

HYLD

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HDIV.TO

• 1D: 0.90%
• 1M: 0.31%
• YTD: 14.74%
• 6M: 15.93%
• 1Y: 41.82%
• 3Y*: 25.90%
• 5Y*: —
• 10Y*: —

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

HYLD vs. HDIV.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
HYLD High Yield ETF	0.00%	0.00%	0.00%	2.80%	-11.48%	0.38%
HDIV.TO Hamilton Enhanced Canadian Covered Call ETF	14.74%	40.28%	13.53%	16.69%	-8.34%	8.54%

Correlation

The correlation between HYLD and HDIV.TO is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (All Time) Calculated using the full available price history since Jul 21, 2021	0.24

The correlation between HYLD and HDIV.TO shifts across timeframes, from 0.11 (3 years) to 0.24 (all time), reflecting how their relationship changes across market environments.

Return for Risk

HYLD vs. HDIV.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HYLD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

HDIV.TO

HDIV.TO Risk / Return Rank: 94
HDIV.TO Sharpe Ratio Rank: 96
HDIV.TO Sortino Ratio Rank: 95
HDIV.TO Omega Ratio Rank: 95
HDIV.TO Calmar Ratio Rank: 91
HDIV.TO Martin Ratio Rank: 95

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 vs. HDIV.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for High Yield ETF (HYLD) and Hamilton Enhanced Canadian Covered Call ETF (HDIV.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	HDIV.TO	Difference
Sharpe ratio: Return per unit of total volatility	—	3.12	—
Sortino ratio: Return per unit of downside risk	—	3.96	—
Omega ratio: Gain probability vs. loss probability	—	1.56	—
Calmar ratio: Return relative to maximum drawdown	—	4.62	—
Martin ratio: Return relative to average drawdown	—	20.86	—

Drawdowns

Drawdown Indicators

	HYLD	HDIV.TO	Difference
Max Drawdown Largest peak-to-trough decline	—	-28.60%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-9.18%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-14.95%	—
Current Drawdown Current decline from peak	—	-1.12%	—
Average Drawdown Average peak-to-trough decline	—	-6.40%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.03%	—

Volatility

Volatility by Period

	HYLD	HDIV.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.55%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.09%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	13.62%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	16.96%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	16.96%	—

HYLD vs. HDIV.TO - Expense Ratio Comparison

HYLD has a 1.29% expense ratio, which is higher than HDIV.TO's 0.00% expense ratio.

Dividends

HYLD vs. HDIV.TO - Dividend Comparison

HYLD has not paid dividends to shareholders, while HDIV.TO's dividend yield for the trailing twelve months is around 9.27%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HDIV.TO Hamilton Enhanced Canadian Covered Call ETF	9.27%	10.09%	11.38%	10.41%	9.64%	3.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HYLD High Yield ETF	0.00%	0.00%	0.00%	4.67%	7.86%	6.45%	7.52%	7.46%	7.97%	7.18%	6.59%	10.87%

Frequently Asked Questions

Can I hold both HYLD and HDIV.TO in my portfolio?

HYLD and HDIV.TO have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HYLD or HDIV.TO?

On fees, HDIV.TO is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HYLD or HDIV.TO?

HDIV.TO is cheaper with a 0.00% expense ratio, compared with 1.29% for HYLD.

What is the main difference between HYLD and HDIV.TO?

HYLD is categorized as High Yield Bonds, while HDIV.TO is Derivative Income. They also come from different issuers: Eve Capital and Hamilton ETFs. Their fees differ too: 1.29% for HYLD and 0.00% for HDIV.TO.