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USCC.TO vs. HBIL-U.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

USCC.TO vs. HBIL-U.TO

Last updated Jul 17, 2026
Documentation

USCC.TO (Global X S&P 500 Covered Call ETF) and HBIL-U.TO (Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units) are both exchange-traded funds - USCC.TO is a Derivative Income fund actively managed by Global X, while HBIL-U.TO is a Government Bonds fund actively managed by Hamilton. Both are actively managed. Over the past year, USCC.TO returned 21.99% vs 6.47% for HBIL-U.TO. At a 0.05 correlation, their price movements are largely independent.

Performance

USCC.TO vs. HBIL-U.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X S&P 500 Covered Call ETF (USCC.TO) and Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units (HBIL-U.TO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

USCC.TO is traded in CAD, while HBIL-U.TO is traded in USD. To make them comparable, the HBIL-U.TO values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, USCC.TO achieves a 11.41% return, which is significantly higher than HBIL-U.TO's 3.86% return.

USCC.TO

1D
-0.33%
1M
1.06%
6M
8.71%
YTD
11.41%
1Y
21.99%
3Y*
18.47%
5Y*
12.38%
10Y*
12.46%

HBIL-U.TO

1D
-0.10%
1M
0.03%
6M
2.17%
YTD
3.86%
1Y
6.47%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

USCC.TO vs. HBIL-U.TO - Yearly Performance Comparison

2026 (YTD)20252024
USCC.TO
Global X S&P 500 Covered Call ETF		11.41%9.19%10.95%
HBIL-U.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units		3.86%0.03%4.69%

Correlation

The correlation between USCC.TO and HBIL-U.TO is 0.07, 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

0.07

Correlation (All Time)
Calculated using the full available price history since Sep 16, 2024

0.05

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Global X S&P 500 Covered Call ETF

Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units

Often compared with USCC.TO:
USCC.TO vs. VFV.TOUSCC.TO vs. SPYIUSCC.TO vs. USCL.TOUSCC.TO vs. TGED.TOUSCC.TO vs. RSPAUSCC.TO vs. ZSP-U.TOUSCC.TO vs. ESG.TO
Often compared with HBIL-U.TO:
HBIL-U.TO vs. HYLD-U.TOHBIL-U.TO vs. HTB.TOHBIL-U.TO vs. TULB.TOHBIL-U.TO vs. ZPL.TOHBIL-U.TO vs. BANK.TOHBIL-U.TO vs. HBND.TOHBIL-U.TO vs. MIX.TO

Return for Risk

USCC.TO vs. HBIL-U.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
USCC.TO
USCC.TO Risk / Return Rank: 8484
Overall Rank
USCC.TO Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
USCC.TO Sortino Ratio Rank: 8484
Sortino Ratio Rank
USCC.TO Omega Ratio Rank: 8787
Omega Ratio Rank
USCC.TO Calmar Ratio Rank: 7979
Calmar Ratio Rank
USCC.TO Martin Ratio Rank: 8484
Martin Ratio Rank
HBIL-U.TO
HBIL-U.TO Risk / Return Rank: 8686
Overall Rank
HBIL-U.TO Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
HBIL-U.TO Sortino Ratio Rank: 8282
Sortino Ratio Rank
HBIL-U.TO Omega Ratio Rank: 9191
Omega Ratio Rank
HBIL-U.TO Calmar Ratio Rank: 8585
Calmar Ratio Rank
HBIL-U.TO Martin Ratio Rank: 8787
Martin Ratio Rank
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.

USCC.TO vs. HBIL-U.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X S&P 500 Covered Call ETF (USCC.TO) and Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units (HBIL-U.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.

USCC.TOHBIL-U.TODifference
Sharpe ratioReturn per unit of total volatility
2.20
1.39

+0.81

Sortino ratioReturn per unit of downside risk
3.06
1.99

+1.07

Omega ratioGain probability vs. loss probability

1.42

1.25

+0.18

Calmar ratioReturn relative to maximum drawdown

3.29

1.62

+1.67

Martin ratioReturn relative to average drawdown

13.29

4.12

+9.17

USCC.TO vs. HBIL-U.TO - Sharpe Ratio Comparison

The current USCC.TO Sharpe Ratio is 2.20, which is higher than the HBIL-U.TO Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of USCC.TO and HBIL-U.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.

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Drawdowns

USCC.TO vs. HBIL-U.TO - Drawdown Comparison

The maximum USCC.TO drawdown since its inception was -28.40%, which is greater than HBIL-U.TO's maximum drawdown of -6.68%. Use the drawdown chart below to compare losses from any high point for USCC.TO and HBIL-U.TO.

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Drawdown Indicators

USCC.TOHBIL-U.TODifference

Max Drawdown

Largest peak-to-trough decline

-28.40%

-6.68%

-21.72%

Max Drawdown (1Y)

Largest decline over 1 year

-6.71%

-4.01%

-2.70%

Max Drawdown (3Y)

Largest decline over 3 years

-17.55%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-17.55%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-28.40%

—

—

Current Drawdown

Current decline from peak

-1.09%

-2.20%

+1.11%

Average Drawdown

Average peak-to-trough decline

-3.14%

-2.26%

-0.88%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.66%

1.57%

+0.09%

Volatility

USCC.TO vs. HBIL-U.TO - Volatility Comparison

Global X S&P 500 Covered Call ETF (USCC.TO) has a higher volatility of 2.71% compared to Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units (HBIL-U.TO) at 1.82%. This indicates that USCC.TO's price experiences larger fluctuations and is considered to be riskier than HBIL-U.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

USCC.TOHBIL-U.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.71%

1.82%

+0.89%

Volatility (6M)

Calculated over the trailing 6-month period

8.30%

3.60%

+4.70%

Volatility (1Y)

Calculated over the trailing 1-year period

10.04%

4.68%

+5.36%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.84%

5.85%

+7.99%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.54%

5.85%

+8.69%

Dividends

USCC.TO vs. HBIL-U.TO - Dividend Comparison

USCC.TO's dividend yield for the trailing twelve months is around 9.52%, more than HBIL-U.TO's 6.75% yield.

PositionTTM20252024202320222021202020192018201720162015
HBIL-U.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units		6.75%7.37%2.40%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
USCC.TO
Global X S&P 500 Covered Call ETF		9.52%10.20%9.86%11.45%10.42%5.05%5.17%5.16%6.19%5.56%5.59%5.71%

Frequently Asked Questions

USCC.TO and HBIL-U.TO have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

USCC.TO is categorized as Derivative Income, while HBIL-U.TO is Government Bonds. They also come from different issuers: Global X and Hamilton.

Portfolio Optimizer

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