PLDI.TO vs. HBIL.TO

Last updated Jul 25, 2026

PLDI.TO (PIMCO Low Duration Monthly Income Fund (Canada)) and HBIL.TO (Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged)) are both exchange-traded funds - PLDI.TO is a Short-Term Bond fund actively managed by PIMCO Canada Corp., while HBIL.TO is a Derivative Income fund actively managed by Hamilton Capital. Both are actively managed. Over the past year, PLDI.TO returned 2.68% vs 1.99% for HBIL.TO. At a 0.26 correlation, their price movements are largely independent. PLDI.TO charges 0.87%/yr vs 0.35%/yr for HBIL.TO.

Performance

PLDI.TO vs. HBIL.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in PIMCO Low Duration Monthly Income Fund (Canada) (PLDI.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, PLDI.TO achieves a -0.39% return, which is significantly lower than HBIL.TO's 0.41% return.

PLDI.TO

• 1D: -0.27%
• 1M: -1.07%
• 6M: -0.28%
• YTD: -0.39%
• 1Y: 2.68%
• 3Y*: 4.89%
• 5Y*: 2.95%
• 10Y*: —
• ALL TIME*: 3.24%

HBIL.TO

• 1D: 0.14%
• 1M: -0.52%
• 6M: 0.14%
• YTD: 0.41%
• 1Y: 1.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 1.18%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HBIL.TO Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged)	CA$300.95K	CA$246.79K	CA$300.15K
PLDI.TO PIMCO Low Duration Monthly Income Fund (Canada)	CA$140.89K	CA$154.04K	CA$132.61K

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

	2026 (YTD)	2025	2024
PLDI.TO PIMCO Low Duration Monthly Income Fund (Canada)	-0.39%	6.61%	0.52%
HBIL.TO Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged)	0.41%	3.04%	-1.22%

Correlation

The correlation between PLDI.TO and HBIL.TO is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (All Time) Calculated using the full available price history since Sep 16, 2024	0.26

Return for Risk

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

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

PLDI.TO

PLDI.TO Risk / Return Rank: 30
PLDI.TO Sharpe Ratio Rank: 26
PLDI.TO Sortino Ratio Rank: 23
PLDI.TO Omega Ratio Rank: 24
PLDI.TO Calmar Ratio Rank: 38
PLDI.TO Martin Ratio Rank: 38

HBIL.TO

HBIL.TO Risk / Return Rank: 52
HBIL.TO Sharpe Ratio Rank: 46
HBIL.TO Sortino Ratio Rank: 49
HBIL.TO Omega Ratio Rank: 51
HBIL.TO Calmar Ratio Rank: 60
HBIL.TO Martin Ratio Rank: 52

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.

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

This table presents a comparison of risk-adjusted performance metrics for PIMCO Low Duration Monthly Income Fund (Canada) (PLDI.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	PLDI.TO	HBIL.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.59	1.13	-0.55
Sortino ratio: Return per unit of downside risk	0.88	1.73	-0.85
Omega ratio: Gain probability vs. loss probability	1.11	1.23	-0.12
Calmar ratio: Return relative to maximum drawdown	1.32	2.10	-0.78
Martin ratio: Return relative to average drawdown	3.91	6.04	-2.13

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

The current PLDI.TO Sharpe Ratio is 0.59, which is lower than the HBIL.TO Sharpe Ratio of 1.13. The chart below compares the historical Sharpe Ratios of PLDI.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.

Drawdowns

PLDI.TO vs. HBIL.TO - Drawdown Comparison

The maximum PLDI.TO drawdown since its inception was -6.86%, which is greater than HBIL.TO's maximum drawdown of -1.66%. Use the drawdown chart below to compare losses from any high point for PLDI.TO and HBIL.TO.

Drawdown Indicators

	PLDI.TO	HBIL.TO	Difference
Max Drawdown Largest peak-to-trough decline	-6.86%	-1.66%	-5.20%
Max Drawdown (1Y) Largest decline over 1 year	-2.03%	-0.95%	-1.08%
Max Drawdown (3Y) Largest decline over 3 years	-2.55%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-5.56%	—	—
Current Drawdown Current decline from peak	-1.18%	-0.66%	-0.52%
Average Drawdown Average peak-to-trough decline	-1.05%	-0.47%	-0.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.69%	0.33%	+0.36%

Volatility

PLDI.TO vs. HBIL.TO - Volatility Comparison

PIMCO Low Duration Monthly Income Fund (Canada) (PLDI.TO) has a higher volatility of 1.11% compared to Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged) (HBIL.TO) at 0.86%. This indicates that PLDI.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

	PLDI.TO	HBIL.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.11%	0.86%	+0.25%
Volatility (6M) Calculated over the trailing 6-month period	3.51%	1.46%	+2.05%
Volatility (1Y) Calculated over the trailing 1-year period	4.59%	1.77%	+2.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.18%	2.06%	+2.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.24%	2.06%	+2.18%

PLDI.TO vs. HBIL.TO - Expense Ratio Comparison

PLDI.TO has a 0.87% expense ratio, which is higher than HBIL.TO's 0.35% expense ratio.

Dividends

PLDI.TO vs. HBIL.TO - Dividend Comparison

PLDI.TO's dividend yield for the trailing twelve months is around 3.56%, less than HBIL.TO's 6.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
HBIL.TO Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged)	6.26%	7.48%	2.58%	0.00%	0.00%	0.00%	0.00%	0.00%
PLDI.TO PIMCO Low Duration Monthly Income Fund (Canada)	3.56%	4.36%	7.04%	5.80%	3.29%	2.04%	4.78%	2.50%

Frequently Asked Questions

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

PLDI.TO and HBIL.TO have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PLDI.TO or HBIL.TO?

On fees, HBIL.TO is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PLDI.TO or HBIL.TO?

HBIL.TO is cheaper with a 0.35% expense ratio, compared with 0.87% for PLDI.TO.

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

PLDI.TO is categorized as Short-Term Bond, while HBIL.TO is Derivative Income. They also come from different issuers: PIMCO Canada Corp. and Hamilton Capital. Their fees differ too: 0.87% for PLDI.TO and 0.35% for HBIL.TO.