YGOG.NEO vs. CBNK.TO
YGOG.NEO (Alphabet (GOOGL) Yield Shares Purpose ETF) and CBNK.TO (Mulvihill Canadian Bank Enhanced Yield ETF) are both Derivative Income funds. Both are actively managed. Over the past 3 years, YGOG.NEO returned 45.35%/yr vs 38.97%/yr for CBNK.TO. At a 0.23 correlation, their price movements are largely independent.
Performance
YGOG.NEO vs. CBNK.TO - Performance Comparison
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Returns By Period
In the year-to-date period, YGOG.NEO achieves a 10.76% return, which is significantly lower than CBNK.TO's 25.56% return.
YGOG.NEO
- 1D
- -0.97%
- 1M
- -7.79%
- YTD
- 10.76%
- 6M
- 8.82%
- 1Y
- 119.67%
- 3Y*
- 45.35%
- 5Y*
- —
- 10Y*
- —
CBNK.TO
- 1D
- 0.42%
- 1M
- 7.74%
- YTD
- 25.56%
- 6M
- 32.17%
- 1Y
- 79.20%
- 3Y*
- 38.97%
- 5Y*
- —
- 10Y*
- —
YGOG.NEO vs. CBNK.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
YGOG.NEO Alphabet (GOOGL) Yield Shares Purpose ETF | 10.76% | 69.45% | 46.37% | 56.07% | 1.18% |
CBNK.TO Mulvihill Canadian Bank Enhanced Yield ETF | 25.56% | 51.67% | 27.42% | 8.42% | 1.89% |
Correlation
The correlation between YGOG.NEO and CBNK.TO is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Dec 20, 2022 | 0.23 |
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Return for Risk
YGOG.NEO vs. CBNK.TO — Risk / Return Rank
YGOG.NEO
CBNK.TO
YGOG.NEO vs. CBNK.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alphabet (GOOGL) Yield Shares Purpose ETF (YGOG.NEO) and Mulvihill Canadian Bank Enhanced Yield ETF (CBNK.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.
| YGOG.NEO | CBNK.TO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.77 | 5.12 | -1.35 |
Sortino ratioReturn per unit of downside risk | 4.77 | 6.76 | -2.00 |
Omega ratioGain probability vs. loss probability | 1.61 | 1.87 | -0.26 |
Calmar ratioReturn relative to maximum drawdown | 5.52 | 7.94 | -2.42 |
Martin ratioReturn relative to average drawdown | 20.61 | 34.25 | -13.64 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| YGOG.NEO | CBNK.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.77 | 5.12 | -1.35 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.62 | 1.10 | +0.52 |
Drawdowns
YGOG.NEO vs. CBNK.TO - Drawdown Comparison
The maximum YGOG.NEO drawdown since its inception was -33.45%, roughly equal to the maximum CBNK.TO drawdown of -32.12%. Use the drawdown chart below to compare losses from any high point for YGOG.NEO and CBNK.TO.
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Drawdown Indicators
| YGOG.NEO | CBNK.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.45% | -32.12% | -1.33% |
Max Drawdown (1Y)Largest decline over 1 year | -21.82% | -10.03% | -11.79% |
Max Drawdown (3Y)Largest decline over 3 years | -33.45% | -17.92% | -15.53% |
Current DrawdownCurrent decline from peak | -11.86% | -2.29% | -9.57% |
Average DrawdownAverage peak-to-trough decline | -7.59% | -10.92% | +3.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.83% | 2.32% | +3.51% |
Volatility
YGOG.NEO vs. CBNK.TO - Volatility Comparison
Alphabet (GOOGL) Yield Shares Purpose ETF (YGOG.NEO) has a higher volatility of 11.10% compared to Mulvihill Canadian Bank Enhanced Yield ETF (CBNK.TO) at 5.67%. This indicates that YGOG.NEO's price experiences larger fluctuations and is considered to be riskier than CBNK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| YGOG.NEO | CBNK.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.10% | 5.67% | +5.43% |
Volatility (6M)Calculated over the trailing 6-month period | 22.75% | 13.29% | +9.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.02% | 15.55% | +16.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.94% | 17.55% | +15.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.94% | 17.55% | +15.39% |
Dividends
YGOG.NEO vs. CBNK.TO - Dividend Comparison
YGOG.NEO's dividend yield for the trailing twelve months is around 8.15%, more than CBNK.TO's 5.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CBNK.TO Mulvihill Canadian Bank Enhanced Yield ETF | 5.94% | 5.86% | 8.25% | 9.59% | 7.85% |
YGOG.NEO Alphabet (GOOGL) Yield Shares Purpose ETF | 8.15% | 5.84% | 14.19% | 7.22% | 0.91% |
Frequently Asked Questions
YGOG.NEO and CBNK.TO have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Purpose and Mulvihill.
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