UDA.TO vs. ENBE.TO
UDA.TO (Caldwell U.S. Dividend Advantage Fund) and ENBE.TO (Harvest Enbridge Enhanced High Income Shares ETF) are both exchange-traded funds - UDA.TO is a Dividend fund actively managed by Caldwell, while ENBE.TO is a Derivative Income fund actively managed by Harvest. Both are actively managed. Their 0.03 correlation means their historical movements had little consistent relationship. UDA.TO charges 0.73%/yr vs 0.40%/yr for ENBE.TO.
Performance
UDA.TO vs. ENBE.TO - Performance Comparison
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Returns By Period
In the year-to-date period, UDA.TO achieves a 12.53% return, which is significantly lower than ENBE.TO's 20.40% return.
UDA.TO
- 1D
- -2.89%
- 1M
- -3.81%
- 6M
- 9.29%
- YTD
- 12.53%
- 1Y
- 18.80%
- 3Y*
- 12.40%
- 5Y*
- 8.59%
- 10Y*
- —
- ALL TIME*
- 12.61%
ENBE.TO
- 1D
- -1.28%
- 1M
- -0.09%
- 6M
- 20.42%
- YTD
- 20.40%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$135.36K | CA$104.71K | CA$69.67K | |
| CA$1.94K | CA$978.12 | CA$6.06K |
UDA.TO vs. ENBE.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
UDA.TO Caldwell U.S. Dividend Advantage Fund | 12.53% | 6.21% |
ENBE.TO Harvest Enbridge Enhanced High Income Shares ETF | 20.40% | -0.98% |
Correlation
The correlation between UDA.TO and ENBE.TO is 0.03, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 21, 2025 | 0.03 |
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Return for Risk
UDA.TO vs. ENBE.TO — Risk / Return Rank
UDA.TO
ENBE.TO
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
UDA.TO vs. ENBE.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Caldwell U.S. Dividend Advantage Fund (UDA.TO) and Harvest Enbridge Enhanced High Income Shares ETF (ENBE.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.
| UDA.TO | ENBE.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.21 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.39 | — | — |
| Martin ratioReturn relative to average drawdown | 7.45 | — | — |
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Drawdowns
UDA.TO vs. ENBE.TO - Drawdown Comparison
The maximum UDA.TO drawdown since its inception was -24.77%, which is greater than ENBE.TO's maximum drawdown of -11.28%. Use the drawdown chart below to compare losses from any high point for UDA.TO and ENBE.TO.
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Drawdown Indicators
| UDA.TO | ENBE.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.77% | -11.28% | -13.49% |
Max Drawdown (1Y)Largest decline over 1 year | -8.44% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -24.77% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -24.77% | — | — |
Current DrawdownCurrent decline from peak | -8.44% | -5.26% | -3.18% |
Average DrawdownAverage peak-to-trough decline | -6.70% | -3.14% | -3.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.70% | — | — |
Volatility
UDA.TO vs. ENBE.TO - Volatility Comparison
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Volatility by Period
| UDA.TO | ENBE.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.49% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 13.71% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 17.61% | 18.34% | -0.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.09% | 18.34% | -2.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.76% | 18.34% | -2.58% |
UDA.TO vs. ENBE.TO - Expense Ratio Comparison
UDA.TO has a 0.73% expense ratio, which is higher than ENBE.TO's 0.40% expense ratio.
Dividends
UDA.TO vs. ENBE.TO - Dividend Comparison
UDA.TO's dividend yield for the trailing twelve months is around 3.89%, less than ENBE.TO's 10.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
ENBE.TO Harvest Enbridge Enhanced High Income Shares ETF | 10.95% | 4.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UDA.TO Caldwell U.S. Dividend Advantage Fund | 3.89% | 4.57% | 7.06% | 3.33% | 4.17% | 9.14% | 2.50% |
Frequently Asked Questions
UDA.TO and ENBE.TO have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ENBE.TO is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ENBE.TO is cheaper with a 0.40% expense ratio, compared with 0.73% for UDA.TO.
UDA.TO is categorized as Dividend, while ENBE.TO is Derivative Income. They also come from different issuers: Caldwell and Harvest. Their fees differ too: 0.73% for UDA.TO and 0.40% for ENBE.TO.
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