SDAY.NEO vs. ZPH.TO
SDAY.NEO (Hamilton Enhanced U.S. Equity DayMAX™ ETF) and ZPH.TO (BMO US Put Write Hedged to CAD ETF) are both Derivative Income funds. Both are actively managed. Over the past year, SDAY.NEO returned 20.01% vs 7.85% for ZPH.TO. At a 0.33 correlation, their price movements are largely independent. SDAY.NEO charges 0.85%/yr vs 0.65%/yr for ZPH.TO.
Performance
SDAY.NEO vs. ZPH.TO - Performance Comparison
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Returns By Period
In the year-to-date period, SDAY.NEO achieves a 15.24% return, which is significantly higher than ZPH.TO's 1.91% return.
SDAY.NEO
- 1D
- -1.13%
- 1M
- 2.43%
- 6M
- 7.41%
- YTD
- 15.24%
- 1Y
- 20.01%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZPH.TO
- 1D
- -0.72%
- 1M
- 1.55%
- 6M
- 2.41%
- YTD
- 1.91%
- 1Y
- 7.85%
- 3Y*
- 7.75%
- 5Y*
- 5.69%
- 10Y*
- —
SDAY.NEO vs. ZPH.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SDAY.NEO Hamilton Enhanced U.S. Equity DayMAX™ ETF | 15.24% | 4.49% |
ZPH.TO BMO US Put Write Hedged to CAD ETF | 1.91% | 5.46% |
Correlation
The correlation between SDAY.NEO and ZPH.TO is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2025 | 0.33 |
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Return for Risk
SDAY.NEO vs. ZPH.TO — Risk / Return Rank
SDAY.NEO
ZPH.TO
SDAY.NEO vs. ZPH.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hamilton Enhanced U.S. Equity DayMAX™ ETF (SDAY.NEO) and BMO US Put Write Hedged to CAD ETF (ZPH.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.
| SDAY.NEO | ZPH.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.47 | ||
| Sortino ratioReturn per unit of downside risk | +0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.22 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.62 | 1.30 | +1.32 |
| Martin ratioReturn relative to average drawdown | 8.36 | 4.90 | +3.46 |
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Drawdowns
SDAY.NEO vs. ZPH.TO - Drawdown Comparison
The maximum SDAY.NEO drawdown since its inception was -7.75%, smaller than the maximum ZPH.TO drawdown of -33.38%. Use the drawdown chart below to compare losses from any high point for SDAY.NEO and ZPH.TO.
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Drawdown Indicators
| SDAY.NEO | ZPH.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.75% | -33.38% | +25.63% |
Max Drawdown (1Y)Largest decline over 1 year | -7.75% | -6.07% | -1.68% |
Max Drawdown (3Y)Largest decline over 3 years | — | -11.83% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.38% | — |
Current DrawdownCurrent decline from peak | -3.60% | -0.72% | -2.88% |
Average DrawdownAverage peak-to-trough decline | -1.74% | -4.22% | +2.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.41% | 1.61% | +0.80% |
Volatility
SDAY.NEO vs. ZPH.TO - Volatility Comparison
Hamilton Enhanced U.S. Equity DayMAX™ ETF (SDAY.NEO) has a higher volatility of 5.16% compared to BMO US Put Write Hedged to CAD ETF (ZPH.TO) at 2.40%. This indicates that SDAY.NEO's price experiences larger fluctuations and is considered to be riskier than ZPH.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SDAY.NEO | ZPH.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.16% | 2.40% | +2.76% |
Volatility (6M)Calculated over the trailing 6-month period | 9.71% | 5.69% | +4.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.19% | 6.59% | +5.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.17% | 11.18% | +0.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.17% | 12.59% | -0.42% |
SDAY.NEO vs. ZPH.TO - Expense Ratio Comparison
SDAY.NEO has a 0.85% expense ratio, which is higher than ZPH.TO's 0.65% expense ratio.
Dividends
SDAY.NEO vs. ZPH.TO - Dividend Comparison
SDAY.NEO's dividend yield for the trailing twelve months is around 18.07%, more than ZPH.TO's 10.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
SDAY.NEO Hamilton Enhanced U.S. Equity DayMAX™ ETF | 18.07% | 8.62% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZPH.TO BMO US Put Write Hedged to CAD ETF | 10.40% | 10.06% | 9.95% | 8.18% | 8.83% | 7.27% | 7.67% | 7.26% | 6.98% | 5.94% |
Frequently Asked Questions
SDAY.NEO and ZPH.TO have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZPH.TO is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZPH.TO is cheaper with a 0.65% expense ratio, compared with 0.85% for SDAY.NEO.
They also come from different issuers: Hamilton Capital and BMO. Their fees differ too: 0.85% for SDAY.NEO and 0.65% for ZPH.TO.
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