TUSB.TO vs. HBIL.TO
TUSB.TO (TD Select U.S. Short Term Corporate Bond Ladder ETF) and HBIL.TO (Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged)) are both exchange-traded funds - TUSB.TO is a Short-Term Bond fund actively managed by TD, while HBIL.TO is a Derivative Income fund actively managed by Hamilton Capital. Both are actively managed. Over the past year, TUSB.TO returned 6.93% vs 2.41% for HBIL.TO. At a 0.12 correlation, their price movements are largely independent.
Performance
TUSB.TO vs. HBIL.TO - Performance Comparison
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Returns By Period
In the year-to-date period, TUSB.TO achieves a 3.41% return, which is significantly higher than HBIL.TO's 0.55% return.
TUSB.TO
- 1D
- -0.21%
- 1M
- 0.48%
- 6M
- 1.98%
- YTD
- 3.41%
- 1Y
- 6.93%
- 3Y*
- 7.96%
- 5Y*
- 5.41%
- 10Y*
- —
HBIL.TO
- 1D
- 0.07%
- 1M
- -0.18%
- 6M
- 0.27%
- YTD
- 0.55%
- 1Y
- 2.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TUSB.TO vs. HBIL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TUSB.TO TD Select U.S. Short Term Corporate Bond Ladder ETF | 3.41% | 2.39% | 5.58% |
HBIL.TO Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged) | 0.55% | 3.04% | -1.22% |
Correlation
The correlation between TUSB.TO and HBIL.TO is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2024 | 0.12 |
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Return for Risk
TUSB.TO vs. HBIL.TO — Risk / Return Rank
TUSB.TO
HBIL.TO
TUSB.TO vs. HBIL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TD Select U.S. Short Term Corporate Bond Ladder ETF (TUSB.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.
| TUSB.TO | HBIL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.29 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.92 | 2.54 | -0.62 |
| Martin ratioReturn relative to average drawdown | 4.86 | 7.69 | -2.83 |
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Drawdowns
TUSB.TO vs. HBIL.TO - Drawdown Comparison
The maximum TUSB.TO drawdown since its inception was -11.97%, 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 TUSB.TO and HBIL.TO.
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Drawdown Indicators
| TUSB.TO | HBIL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.97% | -1.66% | -10.31% |
Max Drawdown (1Y)Largest decline over 1 year | -3.62% | -0.95% | -2.67% |
Max Drawdown (3Y)Largest decline over 3 years | -5.20% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -7.56% | — | — |
Current DrawdownCurrent decline from peak | -1.37% | -0.52% | -0.85% |
Average DrawdownAverage peak-to-trough decline | -3.46% | -0.47% | -2.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.43% | 0.31% | +1.12% |
Volatility
TUSB.TO vs. HBIL.TO - Volatility Comparison
TD Select U.S. Short Term Corporate Bond Ladder ETF (TUSB.TO) has a higher volatility of 1.23% compared to Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged) (HBIL.TO) at 0.83%. This indicates that TUSB.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.
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Volatility by Period
| TUSB.TO | HBIL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 0.83% | +0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 3.37% | 1.45% | +1.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.53% | 1.76% | +2.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.53% | 2.07% | +4.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.72% | 2.07% | +4.65% |
Dividends
TUSB.TO vs. HBIL.TO - Dividend Comparison
TUSB.TO's dividend yield for the trailing twelve months is around 4.57%, less than HBIL.TO's 6.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
HBIL.TO Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedged) | 6.25% | 7.48% | 2.58% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TUSB.TO TD Select U.S. Short Term Corporate Bond Ladder ETF | 4.57% | 5.05% | 4.92% | 5.35% | 3.54% | 3.43% | 5.07% | 4.48% | 0.55% |
Frequently Asked Questions
TUSB.TO and HBIL.TO have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TUSB.TO is categorized as Short-Term Bond, while HBIL.TO is Derivative Income. They also come from different issuers: TD and Hamilton Capital.
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