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XEH.TO vs. SDAY.NEO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XEH.TO vs. SDAY.NEO

Last updated Jun 4, 2026

XEH.TO (iShares MSCI Europe IMI Index ETF (CAD-Hedged)) and SDAY.NEO (Hamilton Enhanced U.S. Equity DayMAX™ ETF) are both exchange-traded funds - XEH.TO is a Europe Equities fund tracking the Morningstar Eur GR CAD, while SDAY.NEO is a Derivative Income fund actively managed by Hamilton Capital. XEH.TO is passively managed, while SDAY.NEO is actively managed. A 0.53 correlation means they provide meaningful diversification when combined. XEH.TO charges 0.28%/yr vs 0.85%/yr for SDAY.NEO.

Performance

XEH.TO vs. SDAY.NEO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares MSCI Europe IMI Index ETF (CAD-Hedged) (XEH.TO) and Hamilton Enhanced U.S. Equity DayMAX™ ETF (SDAY.NEO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XEH.TO achieves a 6.64% return, which is significantly lower than SDAY.NEO's 9.14% return.

XEH.TO

1D
-0.65%
1M
3.95%
YTD
6.64%
6M
8.79%
1Y
15.55%
3Y*
13.05%
5Y*
9.17%
10Y*
9.71%

SDAY.NEO

1D
0.77%
1M
3.97%
YTD
9.14%
6M
6.59%
1Y
—
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XEH.TO vs. SDAY.NEO - Yearly Performance Comparison

2026 (YTD)2025
XEH.TO
iShares MSCI Europe IMI Index ETF (CAD-Hedged)		6.64%7.99%
SDAY.NEO
Hamilton Enhanced U.S. Equity DayMAX™ ETF		9.14%4.48%

Correlation

The correlation between XEH.TO and SDAY.NEO is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (All Time)
Calculated using the full available price history since Jul 15, 2025

0.53

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iShares MSCI Europe IMI Index ETF (CAD-Hedged)

Hamilton Enhanced U.S. Equity DayMAX™ ETF

Often compared with XEH.TO:
XEH.TO vs. XEU.TOXEH.TO vs. XEF.TOXEH.TO vs. VEF.TOXEH.TO vs. IWYXEH.TO vs. IEURXEH.TO vs. XEQT.TOXEH.TO vs. ZEA.TO
Often compared with SDAY.NEO:
SDAY.NEO vs. QDAY.NEOSDAY.NEO vs. USCL.TOSDAY.NEO vs. CDAY.NEOSDAY.NEO vs. HYLD.TOSDAY.NEO vs. BIGY.TOSDAY.NEO vs. SCHDSDAY.NEO vs. HMAX.TO

Return for Risk

XEH.TO vs. SDAY.NEO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XEH.TO
XEH.TO Risk / Return Rank: 3434
Overall Rank
XEH.TO Sharpe Ratio Rank: 3434
Sharpe Ratio Rank
XEH.TO Sortino Ratio Rank: 3333
Sortino Ratio Rank
XEH.TO Omega Ratio Rank: 3333
Omega Ratio Rank
XEH.TO Calmar Ratio Rank: 3030
Calmar Ratio Rank
XEH.TO Martin Ratio Rank: 3939
Martin Ratio Rank
SDAY.NEO
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.

XEH.TO vs. SDAY.NEO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe IMI Index ETF (CAD-Hedged) (XEH.TO) and Hamilton Enhanced U.S. Equity DayMAX™ ETF (SDAY.NEO). 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.

XEH.TOSDAY.NEODifference
Sharpe ratioReturn per unit of total volatility
1.24

—

—

Sortino ratioReturn per unit of downside risk
1.80

—

—

Omega ratioGain probability vs. loss probability

1.23

—

—

Calmar ratioReturn relative to maximum drawdown

1.50

—

—

Martin ratioReturn relative to average drawdown

6.13

—

—

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XEH.TO vs. SDAY.NEO - Sharpe Ratio Comparison

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Sharpe Ratios by Period

XEH.TOSDAY.NEODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.24

—

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.66

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.61

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.54

1.39

-0.84

Drawdowns

XEH.TO vs. SDAY.NEO - Drawdown Comparison

The maximum XEH.TO drawdown since its inception was -35.81%, which is greater than SDAY.NEO's maximum drawdown of -7.75%. Use the drawdown chart below to compare losses from any high point for XEH.TO and SDAY.NEO.

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Drawdown Indicators

XEH.TOSDAY.NEODifference

Max Drawdown

Largest peak-to-trough decline

-35.81%

-7.75%

-28.06%

Max Drawdown (1Y)

Largest decline over 1 year

-10.38%

—

—

Max Drawdown (3Y)

Largest decline over 3 years

-15.01%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-20.34%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-35.81%

—

—

Current Drawdown

Current decline from peak

-2.11%

-1.27%

-0.84%

Average Drawdown

Average peak-to-trough decline

-4.88%

-1.86%

-3.02%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.54%

—

—

Volatility

XEH.TO vs. SDAY.NEO - Volatility Comparison

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Volatility by Period

XEH.TOSDAY.NEODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.79%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

10.44%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

12.62%

11.55%

+1.07%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.07%

11.55%

+2.52%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.89%

11.55%

+4.34%

XEH.TO vs. SDAY.NEO - Expense Ratio Comparison

XEH.TO has a 0.28% expense ratio, which is lower than SDAY.NEO's 0.85% expense ratio.

Dividends

XEH.TO vs. SDAY.NEO - Dividend Comparison

XEH.TO's dividend yield for the trailing twelve months is around 2.35%, less than SDAY.NEO's 16.28% yield.

PositionTTM20252024202320222021202020192018201720162015
SDAY.NEO
Hamilton Enhanced U.S. Equity DayMAX™ ETF		16.28%8.61%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
XEH.TO
iShares MSCI Europe IMI Index ETF (CAD-Hedged)		2.35%2.50%2.71%2.98%3.13%2.39%1.98%3.48%3.35%2.19%2.35%2.24%

Frequently Asked Questions

XEH.TO and SDAY.NEO have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XEH.TO is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XEH.TO is cheaper with a 0.28% expense ratio, compared with 0.85% for SDAY.NEO.

XEH.TO is categorized as Europe Equities, while SDAY.NEO is Derivative Income. They also come from different issuers: iShares and Hamilton Capital. Their fees differ too: 0.28% for XEH.TO and 0.85% for SDAY.NEO.

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