USSL.TO vs. HPYE.TO

Last updated Jun 4, 2026

USSL.TO (Global X Enhanced S&P 500 Index ETF) and HPYE.TO (Harvest Premium Yield Enhanced ETF) are both exchange-traded funds - USSL.TO is a Leveraged Equities fund tracking the S&P 500, while HPYE.TO is a Derivative Income fund actively managed by Harvest Portfolios Group. USSL.TO is passively managed, while HPYE.TO is actively managed. At a 0.39 correlation, their price movements are largely independent. USSL.TO charges 1.34%/yr vs 0.65%/yr for HPYE.TO.

Performance

USSL.TO vs. HPYE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Enhanced S&P 500 Index ETF (USSL.TO) and Harvest Premium Yield Enhanced ETF (HPYE.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

USSL.TO

• 1D: 0.03%
• 1M: 8.62%
• YTD: 14.51%
• 6M: 12.52%
• 1Y: 37.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HPYE.TO

• 1D: 0.40%
• 1M: 6.39%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

USSL.TO vs. HPYE.TO - Yearly Performance Comparison

	2026 (YTD)
USSL.TO Global X Enhanced S&P 500 Index ETF	13.36%
HPYE.TO Harvest Premium Yield Enhanced ETF	9.24%

Correlation

The correlation between USSL.TO and HPYE.TO is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 22, 2026	0.39

Return for Risk

USSL.TO vs. HPYE.TO — Risk / Return Rank

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

USSL.TO

USSL.TO Risk / Return Rank: 81
USSL.TO Sharpe Ratio Rank: 82
USSL.TO Sortino Ratio Rank: 88
USSL.TO Omega Ratio Rank: 95
USSL.TO Calmar Ratio Rank: 70
USSL.TO Martin Ratio Rank: 70

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.

USSL.TO vs. HPYE.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Enhanced S&P 500 Index ETF (USSL.TO) and Harvest Premium Yield Enhanced ETF (HPYE.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.

	USSL.TO	HPYE.TO	Difference
Sharpe ratio Return per unit of total volatility	2.65	—	—
Sortino ratio Return per unit of downside risk	4.04	—	—
Omega ratio Gain probability vs. loss probability	1.73	—	—
Calmar ratio Return relative to maximum drawdown	3.46	—	—
Martin ratio Return relative to average drawdown	12.89	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	USSL.TO	HPYE.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.65	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.30	2.13	-0.83

Drawdowns

USSL.TO vs. HPYE.TO - Drawdown Comparison

The maximum USSL.TO drawdown since its inception was -23.90%, which is greater than HPYE.TO's maximum drawdown of -5.51%. Use the drawdown chart below to compare losses from any high point for USSL.TO and HPYE.TO.

Drawdown Indicators

	USSL.TO	HPYE.TO	Difference
Max Drawdown Largest peak-to-trough decline	-23.90%	-5.51%	-18.39%
Max Drawdown (1Y) Largest decline over 1 year	-10.79%	—	—
Current Drawdown Current decline from peak	-0.03%	0.00%	-0.03%
Average Drawdown Average peak-to-trough decline	-3.48%	-1.39%	-2.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.89%	—	—

Volatility

Volatility by Period

	USSL.TO	HPYE.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.02%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.67%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.08%	12.93%	+1.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.63%	12.93%	+6.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.63%	12.93%	+6.70%

USSL.TO vs. HPYE.TO - Expense Ratio Comparison

USSL.TO has a 1.34% expense ratio, which is higher than HPYE.TO's 0.65% expense ratio.

Dividends

USSL.TO vs. HPYE.TO - Dividend Comparison

USSL.TO has not paid dividends to shareholders, while HPYE.TO's dividend yield for the trailing twelve months is around 5.08%.

Position	TTM
HPYE.TO Harvest Premium Yield Enhanced ETF	5.08%
USSL.TO Global X Enhanced S&P 500 Index ETF	0.00%

Frequently Asked Questions

Can I hold both USSL.TO and HPYE.TO in my portfolio?

USSL.TO and HPYE.TO have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, USSL.TO or HPYE.TO?

On fees, HPYE.TO is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, USSL.TO or HPYE.TO?

HPYE.TO is cheaper with a 0.65% expense ratio, compared with 1.34% for USSL.TO.

What is the main difference between USSL.TO and HPYE.TO?

USSL.TO is categorized as Leveraged Equities, while HPYE.TO is Derivative Income. They also come from different issuers: Global X and Harvest Portfolios Group. Their fees differ too: 1.34% for USSL.TO and 0.65% for HPYE.TO.