NXF.TO vs. HBIL.TO

Last updated Jun 4, 2026

NXF.TO (CI Energy Giants Covered Call ETF Common Units (CAD Hedged)) and HBIL.TO (Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged)) are both exchange-traded funds - NXF.TO is a Energy Equities fund actively managed by CI, while HBIL.TO is a Derivative Income fund actively managed by Hamilton Capital. Both are actively managed. Over the past year, NXF.TO returned 45.90% vs 2.87% for HBIL.TO. At a correlation of -0.11, they often move in opposite directions.

Performance

NXF.TO vs. HBIL.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI Energy Giants Covered Call ETF Common Units (CAD Hedged) (NXF.TO) and Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged) (HBIL.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NXF.TO achieves a 32.43% return, which is significantly higher than HBIL.TO's 0.59% return.

NXF.TO

• 1D: 1.17%
• 1M: -2.11%
• YTD: 32.43%
• 6M: 29.37%
• 1Y: 45.90%
• 3Y*: 15.64%
• 5Y*: 17.39%
• 10Y*: 8.23%

HBIL.TO

• 1D: 0.00%
• 1M: 0.23%
• YTD: 0.59%
• 6M: 0.53%
• 1Y: 2.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NXF.TO vs. HBIL.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NXF.TO CI Energy Giants Covered Call ETF Common Units (CAD Hedged)	32.43%	9.19%	-4.23%
HBIL.TO Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged)	0.59%	3.05%	-1.40%

Correlation

The correlation between NXF.TO and HBIL.TO is -0.19, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.19
Correlation (All Time) Calculated using the full available price history since Sep 17, 2024	-0.11

Return for Risk

NXF.TO vs. HBIL.TO — Risk / Return Rank

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

NXF.TO

NXF.TO Risk / Return Rank: 73
NXF.TO Sharpe Ratio Rank: 73
NXF.TO Sortino Ratio Rank: 66
NXF.TO Omega Ratio Rank: 64
NXF.TO Calmar Ratio Rank: 87
NXF.TO Martin Ratio Rank: 74

HBIL.TO

HBIL.TO Risk / Return Rank: 56
HBIL.TO Sharpe Ratio Rank: 50
HBIL.TO Sortino Ratio Rank: 57
HBIL.TO Omega Ratio Rank: 56
HBIL.TO Calmar Ratio Rank: 61
HBIL.TO Martin Ratio Rank: 56

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.

NXF.TO vs. HBIL.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CI Energy Giants Covered Call ETF Common Units (CAD Hedged) (NXF.TO) and Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged) (HBIL.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.

	NXF.TO	HBIL.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.36	1.74	+0.62
Sortino ratio: Return per unit of downside risk	3.03	2.71	+0.32
Omega ratio: Gain probability vs. loss probability	1.38	1.34	+0.04
Calmar ratio: Return relative to maximum drawdown	4.90	3.03	+1.87
Martin ratio: Return relative to average drawdown	13.97	9.74	+4.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NXF.TO vs. HBIL.TO - Sharpe Ratio Comparison

The current NXF.TO Sharpe Ratio is 2.36, which is higher than the HBIL.TO Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of NXF.TO and HBIL.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

	NXF.TO	HBIL.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.36	1.74	+0.62
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.32	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.64	-0.42

Drawdowns

NXF.TO vs. HBIL.TO - Drawdown Comparison

The maximum NXF.TO drawdown since its inception was -65.25%, which is greater than HBIL.TO's maximum drawdown of -1.69%. Use the drawdown chart below to compare losses from any high point for NXF.TO and HBIL.TO.

Drawdown Indicators

	NXF.TO	HBIL.TO	Difference
Max Drawdown Largest peak-to-trough decline	-65.25%	-1.69%	-63.56%
Max Drawdown (1Y) Largest decline over 1 year	-9.41%	-0.95%	-8.46%
Max Drawdown (3Y) Largest decline over 3 years	-24.26%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-24.26%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-65.25%	—	—
Current Drawdown Current decline from peak	-5.01%	-0.31%	-4.70%
Average Drawdown Average peak-to-trough decline	-16.04%	-0.48%	-15.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.30%	0.30%	+3.00%

Volatility

NXF.TO vs. HBIL.TO - Volatility Comparison

CI Energy Giants Covered Call ETF Common Units (CAD Hedged) (NXF.TO) has a higher volatility of 7.55% compared to Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged) (HBIL.TO) at 0.62%. This indicates that NXF.TO's price experiences larger fluctuations and is considered to be riskier than HBIL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NXF.TO	HBIL.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.55%	0.62%	+6.93%
Volatility (6M) Calculated over the trailing 6-month period	15.65%	1.24%	+14.41%
Volatility (1Y) Calculated over the trailing 1-year period	19.57%	1.66%	+17.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.39%	2.03%	+21.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.16%	2.03%	+24.13%

Dividends

NXF.TO vs. HBIL.TO - Dividend Comparison

NXF.TO's dividend yield for the trailing twelve months is around 8.04%, more than HBIL.TO's 6.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HBIL.TO Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged)	6.52%	7.49%	2.58%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NXF.TO CI Energy Giants Covered Call ETF Common Units (CAD Hedged)	8.04%	7.70%	8.50%	8.60%	11.22%	9.48%	11.23%	7.83%	9.38%	6.50%	8.24%	8.05%

Frequently Asked Questions

Can I hold both NXF.TO and HBIL.TO in my portfolio?

NXF.TO and HBIL.TO have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between NXF.TO and HBIL.TO?

NXF.TO is categorized as Energy Equities, while HBIL.TO is Derivative Income. They also come from different issuers: CI and Hamilton Capital.