MSHE.TO vs. HHIC.TO

Last updated Jun 4, 2026

MSHE.TO (Harvest Microsoft Enhanced High Income Shares ETF - Class A Units) and HHIC.TO (Harvest Canadian High Income Shares ETF) are both exchange-traded funds - MSHE.TO is a Derivative Income fund actively managed by Harvest, while HHIC.TO is a Canada Equities fund actively managed by Harvest. Both are actively managed. At a 0.28 correlation, their price movements are largely independent. Both charge a 0.40% expense ratio.

Performance

MSHE.TO vs. HHIC.TO - Performance Comparison

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

Returns By Period

In the year-to-date period, MSHE.TO achieves a -13.46% return, which is significantly lower than HHIC.TO's 13.62% return.

MSHE.TO

• 1D: -2.54%
• 1M: 6.93%
• YTD: -13.46%
• 6M: -13.17%
• 1Y: -8.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HHIC.TO

• 1D: -0.83%
• 1M: 1.95%
• YTD: 13.62%
• 6M: 15.57%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSHE.TO vs. HHIC.TO - Yearly Performance Comparison

	2026 (YTD)	2025
MSHE.TO Harvest Microsoft Enhanced High Income Shares ETF - Class A Units	-13.46%	-4.25%
HHIC.TO Harvest Canadian High Income Shares ETF	13.62%	16.12%

Correlation

The correlation between MSHE.TO and HHIC.TO is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 22, 2025	0.28

Return for Risk

MSHE.TO vs. HHIC.TO — Risk / Return Rank

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

MSHE.TO

MSHE.TO Risk / Return Rank: 6
MSHE.TO Sharpe Ratio Rank: 6
MSHE.TO Sortino Ratio Rank: 6
MSHE.TO Omega Ratio Rank: 6
MSHE.TO Calmar Ratio Rank: 7
MSHE.TO Martin Ratio Rank: 7

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.

MSHE.TO vs. HHIC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harvest Microsoft Enhanced High Income Shares ETF - Class A Units (MSHE.TO) and Harvest Canadian High Income Shares ETF (HHIC.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.

	MSHE.TO	HHIC.TO	Difference
Sharpe ratio: Return per unit of total volatility	-0.30	—	—
Sortino ratio: Return per unit of downside risk	-0.23	—	—
Omega ratio: Gain probability vs. loss probability	0.97	—	—
Calmar ratio: Return relative to maximum drawdown	-0.22	—	—
Martin ratio: Return relative to average drawdown	-0.45	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	MSHE.TO	HHIC.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.30	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.01	2.57	-2.58

Drawdowns

MSHE.TO vs. HHIC.TO - Drawdown Comparison

The maximum MSHE.TO drawdown since its inception was -37.62%, which is greater than HHIC.TO's maximum drawdown of -7.26%. Use the drawdown chart below to compare losses from any high point for MSHE.TO and HHIC.TO.

Drawdown Indicators

	MSHE.TO	HHIC.TO	Difference
Max Drawdown Largest peak-to-trough decline	-37.62%	-7.26%	-30.36%
Max Drawdown (1Y) Largest decline over 1 year	-37.62%	—	—
Current Drawdown Current decline from peak	-23.77%	-0.83%	-22.94%
Average Drawdown Average peak-to-trough decline	-11.19%	-1.47%	-9.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.36%	—	—

Volatility

Volatility by Period

	MSHE.TO	HHIC.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.24%	—	—
Volatility (6M) Calculated over the trailing 6-month period	24.57%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	27.13%	16.67%	+10.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.27%	16.67%	+11.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.27%	16.67%	+11.60%

MSHE.TO vs. HHIC.TO - Expense Ratio Comparison

Both MSHE.TO and HHIC.TO have an expense ratio of 0.40%.

Dividends

MSHE.TO vs. HHIC.TO - Dividend Comparison

MSHE.TO's dividend yield for the trailing twelve months is around 21.77%, more than HHIC.TO's 10.90% yield.

Position	TTM	2025	2024
HHIC.TO Harvest Canadian High Income Shares ETF	10.90%	4.77%	0.00%
MSHE.TO Harvest Microsoft Enhanced High Income Shares ETF - Class A Units	21.77%	17.17%	5.28%

Frequently Asked Questions

Can I hold both MSHE.TO and HHIC.TO in my portfolio?

MSHE.TO and HHIC.TO have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MSHE.TO or HHIC.TO?

Both ETFs have the same 0.40% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MSHE.TO or HHIC.TO?

MSHE.TO and HHIC.TO have the same expense ratio: 0.40% per year.

What is the main difference between MSHE.TO and HHIC.TO?

MSHE.TO is categorized as Derivative Income, while HHIC.TO is Canada Equities.