LLHE.TO vs. HDIV.TO

Last updated Jun 4, 2026

LLHE.TO (Harvest Eli Lilly Enhanced High Income Shares ETF - Class A Units) and HDIV.TO (Hamilton Enhanced Canadian Covered Call ETF) are both Derivative Income funds. Both are actively managed. Over the past year, LLHE.TO returned 49.98% vs 45.50% for HDIV.TO. At a 0.27 correlation, their price movements are largely independent. LLHE.TO charges 0.40%/yr vs 0.00%/yr for HDIV.TO.

Performance

LLHE.TO vs. HDIV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Harvest Eli Lilly Enhanced High Income Shares ETF - Class A Units (LLHE.TO) and Hamilton Enhanced Canadian Covered Call ETF (HDIV.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LLHE.TO achieves a 3.96% return, which is significantly lower than HDIV.TO's 16.21% return.

LLHE.TO

• 1D: 1.73%
• 1M: 14.44%
• YTD: 3.96%
• 6M: 8.11%
• 1Y: 49.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HDIV.TO

• 1D: -0.26%
• 1M: 6.14%
• YTD: 16.21%
• 6M: 17.63%
• 1Y: 45.50%
• 3Y*: 27.58%
• 5Y*: —
• 10Y*: —

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

LLHE.TO vs. HDIV.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
LLHE.TO Harvest Eli Lilly Enhanced High Income Shares ETF - Class A Units	3.96%	29.60%	-16.36%
HDIV.TO Hamilton Enhanced Canadian Covered Call ETF	16.21%	33.87%	7.09%

Correlation

The correlation between LLHE.TO and HDIV.TO is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (All Time) Calculated using the full available price history since Aug 22, 2024	0.27

The correlation between LLHE.TO and HDIV.TO shifts across timeframes, from 0.16 (1 year) to 0.27 (all time), reflecting how their relationship changes across market environments.

Return for Risk

LLHE.TO vs. HDIV.TO — Risk / Return Rank

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

LLHE.TO

LLHE.TO Risk / Return Rank: 36
LLHE.TO Sharpe Ratio Rank: 35
LLHE.TO Sortino Ratio Rank: 34
LLHE.TO Omega Ratio Rank: 39
LLHE.TO Calmar Ratio Rank: 41
LLHE.TO Martin Ratio Rank: 34

HDIV.TO

HDIV.TO Risk / Return Rank: 92
HDIV.TO Sharpe Ratio Rank: 94
HDIV.TO Sortino Ratio Rank: 93
HDIV.TO Omega Ratio Rank: 94
HDIV.TO Calmar Ratio Rank: 88
HDIV.TO Martin Ratio Rank: 93

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.

LLHE.TO vs. HDIV.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harvest Eli Lilly Enhanced High Income Shares ETF - Class A Units (LLHE.TO) 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.

	LLHE.TO	HDIV.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.25	3.67	-2.42
Sortino ratio: Return per unit of downside risk	1.78	4.70	-2.92
Omega ratio: Gain probability vs. loss probability	1.25	1.68	-0.42
Calmar ratio: Return relative to maximum drawdown	2.00	5.24	-3.24
Martin ratio: Return relative to average drawdown	5.13	25.39	-20.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LLHE.TO vs. HDIV.TO - Sharpe Ratio Comparison

The current LLHE.TO Sharpe Ratio is 1.25, which is lower than the HDIV.TO Sharpe Ratio of 3.67. The chart below compares the historical Sharpe Ratios of LLHE.TO and HDIV.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

	LLHE.TO	HDIV.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.25	3.67	-2.42
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	1.26	-1.10

Drawdowns

LLHE.TO vs. HDIV.TO - Drawdown Comparison

The maximum LLHE.TO drawdown since its inception was -37.80%, which is greater than HDIV.TO's maximum drawdown of -22.32%. Use the drawdown chart below to compare losses from any high point for LLHE.TO and HDIV.TO.

Drawdown Indicators

	LLHE.TO	HDIV.TO	Difference
Max Drawdown Largest peak-to-trough decline	-37.80%	-22.32%	-15.48%
Max Drawdown (1Y) Largest decline over 1 year	-25.14%	-8.73%	-16.41%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.58%	—
Current Drawdown Current decline from peak	-2.88%	-0.63%	-2.25%
Average Drawdown Average peak-to-trough decline	-13.72%	-4.22%	-9.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.78%	1.80%	+7.98%

Volatility

LLHE.TO vs. HDIV.TO - Volatility Comparison

Harvest Eli Lilly Enhanced High Income Shares ETF - Class A Units (LLHE.TO) has a higher volatility of 8.63% compared to Hamilton Enhanced Canadian Covered Call ETF (HDIV.TO) at 3.80%. This indicates that LLHE.TO's price experiences larger fluctuations and is considered to be riskier than HDIV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LLHE.TO	HDIV.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.63%	3.80%	+4.83%
Volatility (6M) Calculated over the trailing 6-month period	28.97%	10.29%	+18.68%
Volatility (1Y) Calculated over the trailing 1-year period	40.18%	12.47%	+27.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.78%	15.63%	+26.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.78%	15.63%	+26.15%

LLHE.TO vs. HDIV.TO - Expense Ratio Comparison

LLHE.TO has a 0.40% expense ratio, which is higher than HDIV.TO's 0.00% expense ratio.

Dividends

LLHE.TO vs. HDIV.TO - Dividend Comparison

LLHE.TO's dividend yield for the trailing twelve months is around 21.31%, more than HDIV.TO's 9.33% yield.

Position	TTM	2025	2024	2023	2022	2021
HDIV.TO Hamilton Enhanced Canadian Covered Call ETF	9.33%	10.09%	11.38%	10.41%	9.64%	3.39%
LLHE.TO Harvest Eli Lilly Enhanced High Income Shares ETF - Class A Units	21.31%	20.89%	7.40%	0.00%	0.00%	0.00%

Frequently Asked Questions

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

LLHE.TO and HDIV.TO have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LLHE.TO 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, LLHE.TO or HDIV.TO?

HDIV.TO is cheaper with a 0.00% expense ratio, compared with 0.40% for LLHE.TO.

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

They also come from different issuers: Harvest and Hamilton ETFs. Their fees differ too: 0.40% for LLHE.TO and 0.00% for HDIV.TO.