PMIF.TO vs. HCA.TO

Last updated Apr 5, 2026

Compare and contrast key facts about PIMCO Monthly Income Fund (Canada) (PMIF.TO) and Hamilton Canadian Bank Mean Reversion Index ETF (HCA.TO).

PMIF.TO and HCA.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HCA.TO is a passively managed fund by Hamilton that tracks the performance of the Solactive Canadian Bank Mean Reversion Index. It was launched on Jun 26, 2020.

Performance

PMIF.TO vs. HCA.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in PIMCO Monthly Income Fund (Canada) (PMIF.TO) and Hamilton Canadian Bank Mean Reversion Index ETF (HCA.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PMIF.TO achieves a -0.44% return, which is significantly lower than HCA.TO's 3.65% return.

PMIF.TO

• 1D: 0.28%
• 1M: -0.97%
• YTD: -0.44%
• 6M: 1.44%
• 1Y: 5.84%
• 3Y*: 6.31%
• 5Y*: 3.19%
• 10Y*: —

HCA.TO

• 1D: 0.00%
• 1M: -1.74%
• YTD: 3.65%
• 6M: 14.24%
• 1Y: 60.88%
• 3Y*: 35.61%
• 5Y*: 26.79%
• 10Y*: —

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

PMIF.TO vs. HCA.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
PMIF.TO PIMCO Monthly Income Fund (Canada)	-0.44%	9.01%	5.20%	7.58%	-6.32%	1.90%	6.68%
HCA.TO Hamilton Canadian Bank Mean Reversion Index ETF	3.65%	51.09%	33.32%	26.95%	-4.34%	48.13%	23.46%

Correlation

The correlation between PMIF.TO and HCA.TO is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners. Combining low-correlation assets is one of the most reliable ways to reduce portfolio risk without sacrificing expected returns.

PMIF.TO vs. HCA.TO - Expense Ratio Comparison

HCA.TO

Hamilton Canadian Bank Mean Reversion Index ETF

Return for Risk

PMIF.TO vs. HCA.TO — Risk / Return Rank

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

PMIF.TO

PMIF.TO Risk / Return Rank: 70
PMIF.TO Sharpe Ratio Rank: 81
PMIF.TO Sortino Ratio Rank: 81
PMIF.TO Omega Ratio Rank: 74
PMIF.TO Calmar Ratio Rank: 56
PMIF.TO Martin Ratio Rank: 56

HCA.TO

HCA.TO Risk / Return Rank: 98
HCA.TO Sharpe Ratio Rank: 98
HCA.TO Sortino Ratio Rank: 98
HCA.TO Omega Ratio Rank: 98
HCA.TO Calmar Ratio Rank: 97
HCA.TO Martin Ratio Rank: 98

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.

PMIF.TO vs. HCA.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Monthly Income Fund (Canada) (PMIF.TO) and Hamilton Canadian Bank Mean Reversion Index ETF (HCA.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.

	PMIF.TO	HCA.TO	Difference
Sharpe ratio Return per unit of total volatility	1.60	3.99	-2.39
Sortino ratio Return per unit of downside risk	2.22	5.39	-3.16
Omega ratio Gain probability vs. loss probability	1.29	1.80	-0.50
Calmar ratio Return relative to maximum drawdown	1.80	6.50	-4.71
Martin ratio Return relative to average drawdown	7.01	26.79	-19.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PMIF.TO vs. HCA.TO - Sharpe Ratio Comparison

The current PMIF.TO Sharpe Ratio is 1.60, which is lower than the HCA.TO Sharpe Ratio of 3.99. The chart below compares the historical Sharpe Ratios of PMIF.TO and HCA.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

	PMIF.TO	HCA.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.60	3.99	-2.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	1.81	-1.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	2.04	-1.47

Drawdowns

PMIF.TO vs. HCA.TO - Drawdown Comparison

The maximum PMIF.TO drawdown since its inception was -18.30%, roughly equal to the maximum HCA.TO drawdown of -17.82%. Use the drawdown chart below to compare losses from any high point for PMIF.TO and HCA.TO.

Drawdown Indicators

	PMIF.TO	HCA.TO	Difference
Max Drawdown Largest peak-to-trough decline	-18.30%	-17.82%	-0.48%
Max Drawdown (1Y) Largest decline over 1 year	-3.22%	-8.52%	+5.30%
Max Drawdown (5Y) Largest decline over 5 years	-10.25%	-17.82%	+7.57%
Current Drawdown Current decline from peak	-1.75%	-4.34%	+2.59%
Average Drawdown Average peak-to-trough decline	-1.89%	-3.43%	+1.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.82%	2.07%	-1.25%

Volatility

PMIF.TO vs. HCA.TO - Volatility Comparison

The current volatility for PIMCO Monthly Income Fund (Canada) (PMIF.TO) is 1.80%, while Hamilton Canadian Bank Mean Reversion Index ETF (HCA.TO) has a volatility of 5.84%. This indicates that PMIF.TO experiences smaller price fluctuations and is considered to be less risky than HCA.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PMIF.TO	HCA.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.80%	5.84%	-4.04%
Volatility (6M) Calculated over the trailing 6-month period	2.49%	10.17%	-7.68%
Volatility (1Y) Calculated over the trailing 1-year period	3.59%	13.67%	-10.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.73%	14.90%	-10.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.85%	15.07%	-9.22%

Dividends

PMIF.TO vs. HCA.TO - Dividend Comparison

PMIF.TO's dividend yield for the trailing twelve months is around 5.43%, more than HCA.TO's 3.35% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
PMIF.TO PIMCO Monthly Income Fund (Canada)	5.43%	5.50%	6.95%	6.06%	3.73%	3.22%	3.58%	3.80%	3.51%	0.59%
HCA.TO Hamilton Canadian Bank Mean Reversion Index ETF	3.35%	5.59%	15.89%	20.26%	16.23%	11.79%	3.54%	0.00%	0.00%	0.00%