MSTY.TO vs. HDIV.TO
MSTY.TO (Harvest MicroStrategy High Income Shares ETF) and HDIV.TO (Hamilton Enhanced Canadian Covered Call ETF) are both Derivative Income funds. Both are actively managed. Over the past year, MSTY.TO returned -61.47% vs 45.50% for HDIV.TO. At a 0.39 correlation, their price movements are largely independent. MSTY.TO charges 0.40%/yr vs 0.00%/yr for HDIV.TO.
Performance
MSTY.TO vs. HDIV.TO - Performance Comparison
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Returns By Period
In the year-to-date period, MSTY.TO achieves a -14.48% return, which is significantly lower than HDIV.TO's 16.21% return.
MSTY.TO
- 1D
- -7.01%
- 1M
- -27.56%
- YTD
- -14.48%
- 6M
- -29.84%
- 1Y
- -61.47%
- 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*
- —
MSTY.TO vs. HDIV.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MSTY.TO Harvest MicroStrategy High Income Shares ETF | -14.48% | -53.11% |
HDIV.TO Hamilton Enhanced Canadian Covered Call ETF | 16.21% | 30.93% |
Correlation
The correlation between MSTY.TO and HDIV.TO is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Jan 17, 2025 | 0.39 |
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Return for Risk
MSTY.TO vs. HDIV.TO — Risk / Return Rank
MSTY.TO
HDIV.TO
MSTY.TO vs. HDIV.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harvest MicroStrategy High Income Shares ETF (MSTY.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.
| MSTY.TO | HDIV.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.67 | ||
| Sortino ratioReturn per unit of downside risk | -6.47 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.68 | -0.87 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | 5.24 | -6.10 |
| Martin ratioReturn relative to average drawdown | -1.35 | 25.39 | -26.74 |
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
| MSTY.TO | HDIV.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.00 | 3.67 | -4.67 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.70 | 1.26 | -1.96 |
Drawdowns
MSTY.TO vs. HDIV.TO - Drawdown Comparison
The maximum MSTY.TO drawdown since its inception was -71.75%, 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 MSTY.TO and HDIV.TO.
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Drawdown Indicators
| MSTY.TO | HDIV.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.75% | -22.32% | -49.43% |
Max Drawdown (1Y)Largest decline over 1 year | -71.35% | -8.73% | -62.62% |
Max Drawdown (3Y)Largest decline over 3 years | — | -14.58% | — |
Current DrawdownCurrent decline from peak | -66.60% | -0.63% | -65.97% |
Average DrawdownAverage peak-to-trough decline | -36.11% | -4.22% | -31.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 45.51% | 1.80% | +43.71% |
Volatility
MSTY.TO vs. HDIV.TO - Volatility Comparison
Harvest MicroStrategy High Income Shares ETF (MSTY.TO) has a higher volatility of 18.94% compared to Hamilton Enhanced Canadian Covered Call ETF (HDIV.TO) at 3.80%. This indicates that MSTY.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.
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Volatility by Period
| MSTY.TO | HDIV.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.94% | 3.80% | +15.14% |
Volatility (6M)Calculated over the trailing 6-month period | 50.48% | 10.29% | +40.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 61.72% | 12.47% | +49.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 69.37% | 15.63% | +53.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 69.37% | 15.63% | +53.74% |
MSTY.TO vs. HDIV.TO - Expense Ratio Comparison
MSTY.TO has a 0.40% expense ratio, which is higher than HDIV.TO's 0.00% expense ratio.
Dividends
MSTY.TO vs. HDIV.TO - Dividend Comparison
MSTY.TO's dividend yield for the trailing twelve months is around 88.70%, 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% |
MSTY.TO Harvest MicroStrategy High Income Shares ETF | 88.70% | 86.73% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MSTY.TO and HDIV.TO have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
HDIV.TO is cheaper with a 0.00% expense ratio, compared with 0.40% for MSTY.TO.
They also come from different issuers: Harvest and Hamilton ETFs. Their fees differ too: 0.40% for MSTY.TO and 0.00% for HDIV.TO.
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