SMVP.TO vs. PHE.TO

Last updated Jul 25, 2026

SMVP.TO (HAMILTON CHAMPIONS U.S. Dividend Index ETF (CAD Hedged)) and PHE.TO (Purpose Tactical Hedged Equity Fund) are both exchange-traded funds - SMVP.TO is a Large Cap Blend Equities fund tracking the Solactive United States Dividend Elite Champions Index, while PHE.TO is a Equity Hedged fund actively managed by Purpose Investments Inc.. SMVP.TO is passively managed, while PHE.TO is actively managed. Over the past year, SMVP.TO returned 10.97% vs 7.28% for PHE.TO. At a 0.09 correlation, their price movements are largely independent. SMVP.TO charges 0.00%/yr vs 0.98%/yr for PHE.TO.

Performance

SMVP.TO vs. PHE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in HAMILTON CHAMPIONS U.S. Dividend Index ETF (CAD Hedged) (SMVP.TO) and Purpose Tactical Hedged Equity Fund (PHE.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMVP.TO achieves a 10.71% return, which is significantly higher than PHE.TO's 1.54% return.

SMVP.TO

• 1D: 1.31%
• 1M: 2.03%
• 6M: 5.88%
• YTD: 10.71%
• 1Y: 10.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 9.41%

PHE.TO

• 1D: -0.37%
• 1M: 0.99%
• 6M: 1.69%
• YTD: 1.54%
• 1Y: 7.28%
• 3Y*: 9.65%
• 5Y*: 6.27%
• 10Y*: 6.87%
• ALL TIME*: 5.80%

*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)
PHE.TO Purpose Tactical Hedged Equity Fund	CA$420.41	CA$976.01	CA$1.79K
SMVP.TO HAMILTON CHAMPIONS U.S. Dividend Index ETF (CAD Hedged)	CA$3.17K	CA$13.96K	CA$24.86K

SMVP.TO vs. PHE.TO - Yearly Performance Comparison

	2026 (YTD)	2025
SMVP.TO HAMILTON CHAMPIONS U.S. Dividend Index ETF (CAD Hedged)	10.71%	3.24%
PHE.TO Purpose Tactical Hedged Equity Fund	1.54%	9.84%

Correlation

The correlation between SMVP.TO and PHE.TO is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (All Time) Calculated using the full available price history since Jan 27, 2025	0.09

Return for Risk

SMVP.TO vs. PHE.TO — Risk / Return Rank

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

SMVP.TO

SMVP.TO Risk / Return Rank: 42
SMVP.TO Sharpe Ratio Rank: 42
SMVP.TO Sortino Ratio Rank: 43
SMVP.TO Omega Ratio Rank: 40
SMVP.TO Calmar Ratio Rank: 48
SMVP.TO Martin Ratio Rank: 38

PHE.TO

PHE.TO Risk / Return Rank: 38
PHE.TO Sharpe Ratio Rank: 39
PHE.TO Sortino Ratio Rank: 39
PHE.TO Omega Ratio Rank: 36
PHE.TO Calmar Ratio Rank: 33
PHE.TO Martin Ratio Rank: 41

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.

SMVP.TO vs. PHE.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HAMILTON CHAMPIONS U.S. Dividend Index ETF (CAD Hedged) (SMVP.TO) and Purpose Tactical Hedged Equity Fund (PHE.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.

	SMVP.TO	PHE.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.05	0.98	+0.07
Sortino ratio: Return per unit of downside risk	1.55	1.48	+0.08
Omega ratio: Gain probability vs. loss probability	1.19	1.17	+0.01
Calmar ratio: Return relative to maximum drawdown	1.71	1.12	+0.59
Martin ratio: Return relative to average drawdown	3.86	4.50	-0.64

SMVP.TO vs. PHE.TO - Sharpe Ratio Comparison

The current SMVP.TO Sharpe Ratio is 1.05, which is comparable to the PHE.TO Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of SMVP.TO and PHE.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

SMVP.TO vs. PHE.TO - Drawdown Comparison

The maximum SMVP.TO drawdown since its inception was -12.11%, smaller than the maximum PHE.TO drawdown of -22.37%. Use the drawdown chart below to compare losses from any high point for SMVP.TO and PHE.TO.

Drawdown Indicators

	SMVP.TO	PHE.TO	Difference
Max Drawdown Largest peak-to-trough decline	-12.11%	-22.37%	+10.26%
Max Drawdown (1Y) Largest decline over 1 year	-6.44%	-6.54%	+0.10%
Max Drawdown (3Y) Largest decline over 3 years	—	-11.34%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.48%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-21.38%	—
Current Drawdown Current decline from peak	-1.66%	-0.97%	-0.69%
Average Drawdown Average peak-to-trough decline	-2.57%	-5.22%	+2.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.85%	1.62%	+1.23%

Volatility

SMVP.TO vs. PHE.TO - Volatility Comparison

HAMILTON CHAMPIONS U.S. Dividend Index ETF (CAD Hedged) (SMVP.TO) has a higher volatility of 4.44% compared to Purpose Tactical Hedged Equity Fund (PHE.TO) at 1.77%. This indicates that SMVP.TO's price experiences larger fluctuations and is considered to be riskier than PHE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMVP.TO	PHE.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.44%	1.77%	+2.67%
Volatility (6M) Calculated over the trailing 6-month period	8.38%	5.81%	+2.57%
Volatility (1Y) Calculated over the trailing 1-year period	10.52%	7.47%	+3.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.29%	9.63%	+3.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.29%	10.14%	+3.15%

SMVP.TO vs. PHE.TO - Expense Ratio Comparison

SMVP.TO has a 0.00% expense ratio, which is lower than PHE.TO's 0.98% expense ratio.

Dividends

SMVP.TO vs. PHE.TO - Dividend Comparison

SMVP.TO's dividend yield for the trailing twelve months is around 2.17%, while PHE.TO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
PHE.TO Purpose Tactical Hedged Equity Fund	0.00%	0.20%	0.00%	0.00%	0.76%
SMVP.TO HAMILTON CHAMPIONS U.S. Dividend Index ETF (CAD Hedged)	2.17%	1.93%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SMVP.TO and PHE.TO in my portfolio?

SMVP.TO and PHE.TO have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SMVP.TO or PHE.TO?

On fees, SMVP.TO is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SMVP.TO or PHE.TO?

SMVP.TO is cheaper with a 0.00% expense ratio, compared with 0.98% for PHE.TO.

What is the main difference between SMVP.TO and PHE.TO?

SMVP.TO is categorized as Large Cap Blend Equities, while PHE.TO is Equity Hedged. They also come from different issuers: Hamilton Capital and Purpose Investments Inc.. Their fees differ too: 0.00% for SMVP.TO and 0.98% for PHE.TO.