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XEQT.TO vs. HDIV.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XEQT.TO vs. HDIV.TO

Last updated Jun 13, 2026

XEQT.TO (iShares Core Equity ETF Portfolio) and HDIV.TO (Hamilton Enhanced Canadian Covered Call ETF) are both exchange-traded funds - XEQT.TO is a Global Equities fund actively managed by iShares, while HDIV.TO is a Derivative Income fund actively managed by Hamilton ETFs. Both are actively managed. Over the past 3 years, XEQT.TO returned 21.81%/yr vs 27.78%/yr for HDIV.TO. Their correlation of 0.81 suggests significant overlap in exposure. XEQT.TO charges 0.20%/yr vs 0.00%/yr for HDIV.TO.

Performance

XEQT.TO vs. HDIV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Core Equity ETF Portfolio (XEQT.TO) and Hamilton Enhanced Canadian Covered Call ETF (HDIV.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XEQT.TO achieves a 12.26% return, which is significantly lower than HDIV.TO's 17.07% return.

XEQT.TO

1D
0.63%
1M
2.69%
YTD
12.26%
6M
12.73%
1Y
29.47%
3Y*
21.81%
5Y*
13.69%
10Y*
—

HDIV.TO

1D
1.08%
1M
2.90%
YTD
17.07%
6M
17.58%
1Y
45.41%
3Y*
27.78%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XEQT.TO vs. HDIV.TO - Yearly Performance Comparison

2026 (YTD)20252024202320222021
XEQT.TO
iShares Core Equity ETF Portfolio		12.26%20.57%24.38%17.27%-10.99%5.65%
HDIV.TO
Hamilton Enhanced Canadian Covered Call ETF		17.07%33.87%23.15%13.91%-2.53%9.13%

Correlation

The correlation between XEQT.TO and HDIV.TO is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.82

Correlation (3Y)
Calculated over the trailing 3-year period

0.84

Correlation (All Time)
Calculated using the full available price history since Jul 21, 2021

0.81

The correlation between XEQT.TO and HDIV.TO has been stable across timeframes, ranging from 0.81 to 0.84 - a consistent structural relationship.

XEQT.TO vs. HDIV.TO - Sectors Allocation Comparison

Sectors
XEQT.TO
HDIV.TO

Technology

22.9%
9.5%

Financial Services

20.3%
39.8%

Industrials

12.1%
3.0%

Consumer Cyclical

7.8%
2.5%

Basic Materials

7.3%
13.4%

Energy

7.2%
18.4%

Healthcare

6.6%
0.2%

Communication Services

6.4%
6.3%

Consumer Defensive

4.4%
0.3%

Utilities

2.8%
4.7%

Real Estate

2.2%
2.1%

Technology

XEQT.TO
22.9%
HDIV.TO
9.5%

Financial Services

XEQT.TO
20.3%
HDIV.TO
39.8%

Industrials

XEQT.TO
12.1%
HDIV.TO
3.0%

Consumer Cyclical

XEQT.TO
7.8%
HDIV.TO
2.5%

Basic Materials

XEQT.TO
7.3%
HDIV.TO
13.4%

Energy

XEQT.TO
7.2%
HDIV.TO
18.4%

Healthcare

XEQT.TO
6.6%
HDIV.TO
0.2%

Communication Services

XEQT.TO
6.4%
HDIV.TO
6.3%

Consumer Defensive

XEQT.TO
4.4%
HDIV.TO
0.3%

Utilities

XEQT.TO
2.8%
HDIV.TO
4.7%

Real Estate

XEQT.TO
2.2%
HDIV.TO
2.1%

Compare stocks, funds, or ETFs

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iShares Core Equity ETF Portfolio

Hamilton Enhanced Canadian Covered Call ETF

Often compared with XEQT.TO:
XEQT.TO vs. VFV.TOXEQT.TO vs. VEQT.TOXEQT.TO vs. XGRO.TOXEQT.TO vs. ZEQT.TOXEQT.TO vs. VGRO.TOXEQT.TO vs. XEI.TOXEQT.TO vs. VOO
Often compared with HDIV.TO:
HDIV.TO vs. HYLD.TOHDIV.TO vs. HMAX.TOHDIV.TO vs. HDIF.TOHDIV.TO vs. XDIV.TOHDIV.TO vs. HHIS.TOHDIV.TO vs. VDY.TOHDIV.TO vs. ZWC.TO

Return for Risk

XEQT.TO vs. HDIV.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XEQT.TO
XEQT.TO Risk / Return Rank: 8484
Overall Rank
XEQT.TO Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
XEQT.TO Sortino Ratio Rank: 8585
Sortino Ratio Rank
XEQT.TO Omega Ratio Rank: 8585
Omega Ratio Rank
XEQT.TO Calmar Ratio Rank: 7979
Calmar Ratio Rank
XEQT.TO Martin Ratio Rank: 8585
Martin Ratio Rank
HDIV.TO
HDIV.TO Risk / Return Rank: 9494
Overall Rank
HDIV.TO Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
HDIV.TO Sortino Ratio Rank: 9595
Sortino Ratio Rank
HDIV.TO Omega Ratio Rank: 9595
Omega Ratio Rank
HDIV.TO Calmar Ratio Rank: 9191
Calmar Ratio Rank
HDIV.TO Martin Ratio Rank: 9595
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.

XEQT.TO vs. HDIV.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core Equity ETF Portfolio (XEQT.TO) and Hamilton Enhanced Canadian Covered Call ETF (HDIV.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.

XEQT.TOHDIV.TODifference
Sharpe ratioReturn per unit of total volatility
2.43
3.55

-1.12

Sortino ratioReturn per unit of downside risk
3.31
4.51

-1.20

Omega ratioGain probability vs. loss probability

1.45

1.65

-0.20

Calmar ratioReturn relative to maximum drawdown

3.59

5.23

-1.64

Martin ratioReturn relative to average drawdown

15.41

25.02

-9.60

XEQT.TO vs. HDIV.TO - Sharpe Ratio Comparison

The current XEQT.TO Sharpe Ratio is 2.43, which is lower than the HDIV.TO Sharpe Ratio of 3.55. The chart below compares the historical Sharpe Ratios of XEQT.TO and HDIV.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

XEQT.TO vs. HDIV.TO - Drawdown Comparison

The maximum XEQT.TO drawdown since its inception was -29.74%, which is greater than HDIV.TO's maximum drawdown of -22.32%. Use the drawdown chart below to compare losses from any high point for XEQT.TO and HDIV.TO.

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Drawdown Indicators

XEQT.TOHDIV.TODifference

Max Drawdown

Largest peak-to-trough decline

-29.74%

-22.32%

-7.42%

Max Drawdown (1Y)

Largest decline over 1 year

-8.25%

-8.73%

+0.48%

Max Drawdown (3Y)

Largest decline over 3 years

-15.08%

-14.58%

-0.50%

Max Drawdown (5Y)

Largest decline over 5 years

-19.55%

—

—

Current Drawdown

Current decline from peak

-0.84%

-0.13%

-0.71%

Average Drawdown

Average peak-to-trough decline

-4.09%

-4.21%

+0.12%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.92%

1.82%

+0.10%

Volatility

XEQT.TO vs. HDIV.TO - Volatility Comparison

iShares Core Equity ETF Portfolio (XEQT.TO) has a higher volatility of 5.02% compared to Hamilton Enhanced Canadian Covered Call ETF (HDIV.TO) at 4.51%. This indicates that XEQT.TO's price experiences larger fluctuations and is considered to be riskier than HDIV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XEQT.TOHDIV.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.02%

4.51%

+0.51%

Volatility (6M)

Calculated over the trailing 6-month period

10.06%

10.74%

-0.68%

Volatility (1Y)

Calculated over the trailing 1-year period

12.17%

12.86%

-0.69%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.21%

15.64%

-2.43%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.58%

15.64%

-0.06%

XEQT.TO vs. HDIV.TO - Expense Ratio Comparison

XEQT.TO has a 0.20% expense ratio, which is higher than HDIV.TO's 0.00% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XEQT.TO vs. HDIV.TO - Dividend Comparison

XEQT.TO's dividend yield for the trailing twelve months is around 1.48%, less than HDIV.TO's 9.27% yield.

PositionTTM2025202420232022202120202019
HDIV.TO
Hamilton Enhanced Canadian Covered Call ETF		9.27%10.09%11.38%10.41%9.64%3.37%0.00%0.00%
XEQT.TO
iShares Core Equity ETF Portfolio		1.48%1.66%2.03%2.09%2.14%1.66%1.69%1.21%

Frequently Asked Questions

XEQT.TO and HDIV.TO have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, HDIV.TO is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

HDIV.TO is cheaper with a 0.00% expense ratio, compared with 0.20% for XEQT.TO.

XEQT.TO is categorized as Global Equities, while HDIV.TO is Derivative Income. They also come from different issuers: iShares and Hamilton ETFs. Their fees differ too: 0.20% for XEQT.TO and 0.00% for HDIV.TO.

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