MSTE.TO vs. HYLD.TO
MSTE.TO (Harvest MicroStrategy Enhanced High Income Shares ETF) and HYLD.TO (Hamilton Enhanced U.S. Covered Call ETF) are both Derivative Income funds. Both are actively managed. Over the past year, MSTE.TO returned -71.76% vs 39.70% for HYLD.TO. At a 0.48 correlation, their price movements are largely independent. MSTE.TO charges 0.40%/yr vs 2.37%/yr for HYLD.TO.
Performance
MSTE.TO vs. HYLD.TO - Performance Comparison
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Returns By Period
In the year-to-date period, MSTE.TO achieves a -20.32% return, which is significantly lower than HYLD.TO's 15.73% return.
MSTE.TO
- 1D
- -8.67%
- 1M
- -33.14%
- YTD
- -20.32%
- 6M
- -37.71%
- 1Y
- -71.76%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYLD.TO
- 1D
- 0.09%
- 1M
- 9.70%
- YTD
- 15.73%
- 6M
- 15.82%
- 1Y
- 39.70%
- 3Y*
- 23.83%
- 5Y*
- —
- 10Y*
- —
MSTE.TO vs. HYLD.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MSTE.TO Harvest MicroStrategy Enhanced High Income Shares ETF | -20.32% | -55.56% |
HYLD.TO Hamilton Enhanced U.S. Covered Call ETF | 15.73% | 23.48% |
Correlation
The correlation between MSTE.TO and HYLD.TO is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Mar 6, 2025 | 0.48 |
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Return for Risk
MSTE.TO vs. HYLD.TO — Risk / Return Rank
MSTE.TO
HYLD.TO
MSTE.TO vs. HYLD.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harvest MicroStrategy Enhanced High Income Shares ETF (MSTE.TO) and Hamilton Enhanced U.S. Covered Call ETF (HYLD.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.
| MSTE.TO | HYLD.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.54 | ||
| Sortino ratioReturn per unit of downside risk | -5.29 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.47 | -0.66 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | 3.31 | -4.21 |
| Martin ratioReturn relative to average drawdown | -1.33 | 14.63 | -15.97 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MSTE.TO | HYLD.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.93 | 2.61 | -3.54 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.67 | 0.69 | -1.37 |
Drawdowns
MSTE.TO vs. HYLD.TO - Drawdown Comparison
The maximum MSTE.TO drawdown since its inception was -80.35%, which is greater than HYLD.TO's maximum drawdown of -31.38%. Use the drawdown chart below to compare losses from any high point for MSTE.TO and HYLD.TO.
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Drawdown Indicators
| MSTE.TO | HYLD.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.35% | -31.38% | -48.97% |
Max Drawdown (1Y)Largest decline over 1 year | -80.35% | -12.04% | -68.31% |
Max Drawdown (3Y)Largest decline over 3 years | — | -21.83% | — |
Current DrawdownCurrent decline from peak | -76.21% | 0.00% | -76.21% |
Average DrawdownAverage peak-to-trough decline | -39.63% | -8.91% | -30.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 53.78% | 2.72% | +51.06% |
Volatility
MSTE.TO vs. HYLD.TO - Volatility Comparison
Harvest MicroStrategy Enhanced High Income Shares ETF (MSTE.TO) has a higher volatility of 23.39% compared to Hamilton Enhanced U.S. Covered Call ETF (HYLD.TO) at 4.58%. This indicates that MSTE.TO's price experiences larger fluctuations and is considered to be riskier than HYLD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSTE.TO | HYLD.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.39% | 4.58% | +18.81% |
Volatility (6M)Calculated over the trailing 6-month period | 63.14% | 12.17% | +50.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 77.31% | 15.31% | +62.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 84.31% | 19.22% | +65.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 84.31% | 19.22% | +65.09% |
MSTE.TO vs. HYLD.TO - Expense Ratio Comparison
MSTE.TO has a 0.40% expense ratio, which is lower than HYLD.TO's 2.37% expense ratio.
Dividends
MSTE.TO vs. HYLD.TO - Dividend Comparison
MSTE.TO's dividend yield for the trailing twelve months is around 149.64%, more than HYLD.TO's 11.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
HYLD.TO Hamilton Enhanced U.S. Covered Call ETF | 11.23% | 11.98% | 12.13% | 12.11% | 13.02% |
MSTE.TO Harvest MicroStrategy Enhanced High Income Shares ETF | 149.64% | 121.40% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MSTE.TO and HYLD.TO have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MSTE.TO is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MSTE.TO is cheaper with a 0.40% expense ratio, compared with 2.37% for HYLD.TO.
They also come from different issuers: Harvest and Hamilton Capital. Their fees differ too: 0.40% for MSTE.TO and 2.37% for HYLD.TO.
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