ZEB.TO vs. HPYB.TO
ZEB.TO (BMO Equal Weight Banks Index ETF) and HPYB.TO (Harvest Premium Yield Canadian Bank ETF) are both exchange-traded funds - ZEB.TO is a Financials Equities fund tracking the Solactive Equal Weight Canada Banks Index, while HPYB.TO is a Derivative Income fund actively managed by Harvest. ZEB.TO is passively managed, while HPYB.TO is actively managed. Their correlation of 0.93 suggests significant overlap in exposure.
Performance
ZEB.TO vs. HPYB.TO - Performance Comparison
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Returns By Period
ZEB.TO
- 1D
- -0.14%
- 1M
- 6.80%
- 6M
- 31.95%
- YTD
- 33.86%
- 1Y
- 70.56%
- 3Y*
- 36.72%
- 5Y*
- 21.03%
- 10Y*
- 17.08%
HPYB.TO
- 1D
- -0.08%
- 1M
- 3.60%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZEB.TO vs. HPYB.TO - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
ZEB.TO BMO Equal Weight Banks Index ETF | 33.47% |
HPYB.TO Harvest Premium Yield Canadian Bank ETF | 17.25% |
Correlation
The correlation between ZEB.TO and HPYB.TO is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jan 21, 2026 | 0.93 |
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Return for Risk
ZEB.TO vs. HPYB.TO — Risk / Return Rank
ZEB.TO
HPYB.TO
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
ZEB.TO vs. HPYB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Equal Weight Banks Index ETF (ZEB.TO) and Harvest Premium Yield Canadian Bank ETF (HPYB.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.
| ZEB.TO | HPYB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.96 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 8.41 | — | — |
| Martin ratioReturn relative to average drawdown | 36.02 | — | — |
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Drawdowns
ZEB.TO vs. HPYB.TO - Drawdown Comparison
The maximum ZEB.TO drawdown since its inception was -39.69%, which is greater than HPYB.TO's maximum drawdown of -6.37%. Use the drawdown chart below to compare losses from any high point for ZEB.TO and HPYB.TO.
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Drawdown Indicators
| ZEB.TO | HPYB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.69% | -6.37% | -33.32% |
Max Drawdown (1Y)Largest decline over 1 year | -8.44% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -14.80% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -25.97% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -39.69% | — | — |
Current DrawdownCurrent decline from peak | -0.14% | -0.08% | -0.06% |
Average DrawdownAverage peak-to-trough decline | -5.62% | -1.11% | -4.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | — | — |
Volatility
ZEB.TO vs. HPYB.TO - Volatility Comparison
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Volatility by Period
| ZEB.TO | HPYB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.05% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 11.49% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 13.31% | 11.92% | +1.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.61% | 11.92% | +1.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.90% | 11.92% | +4.98% |
Dividends
ZEB.TO vs. HPYB.TO - Dividend Comparison
ZEB.TO's dividend yield for the trailing twelve months is around 2.27%, less than HPYB.TO's 5.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HPYB.TO Harvest Premium Yield Canadian Bank ETF | 5.83% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZEB.TO BMO Equal Weight Banks Index ETF | 2.27% | 2.95% | 3.98% | 4.75% | 4.29% | 3.13% | 4.15% | 3.65% | 3.64% | 3.02% | 3.19% | 3.70% |
Frequently Asked Questions
With a correlation of 0.93, ZEB.TO and HPYB.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
ZEB.TO is categorized as Financials Equities, while HPYB.TO is Derivative Income. They also come from different issuers: BMO and Harvest.
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