A side-by-side comparison of Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK) and Hamilton Enhanced Canadian Bank ETF (HCAL) to help Canadian investors make an informed decision.
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1-Year Performance
Normalised to 100 at the start — shows relative return over the trailing 12 months.
Head-to-Head Comparison
| Metric | BANK | HCAL |
|---|---|---|
| YTD Return | +21.42% | +38.33%✓ |
| 1-Day Change | -0.67% | -0.33%✓ |
| 1-Week Change | +0.17% | +1.24%✓ |
| 1-Month Change | +5.83%✓ | +9.48% |
| Current Price | $11.79 | $50.71 |
| AUM | $1.12B✓ | $1.02B |
| MER (Expense Ratio) | 60% | 0%✓ |
| Dividend Yield | 12.14%✓ | 3.11% |
| Distribution Frequency | Monthly | Monthly |
| Inception Date | 2022-02-01 | 2020-10-14 |
| Holdings Count | 9 | 1 |
| MorningStar Rating | — | — |
| Category | Alternative Equity Focused | Alternative Equity Focused |
| Beta | 0.00 | 0.00 |
| 52-Week High | $11.88 | $51.12 |
| 52-Week Low | $6.96 | $26.31 |
| 50-Day MA | $11.03 | $45.89 |
| 200-Day MA | $9.86 | $38.49 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Annualised Returns
| Period | BANK | HCAL |
|---|---|---|
| YTD | +21.42% | +38.33%✓ |
| 1 Year | +63.33% | +87.60%✓ |
| 3 Year | +34.67% | +43.02%✓ |
| 5 Year | — | +22.47% |
| 10 Year | — | — |
| 1Y Volatility | 13.18% | 17.00% |
| Sharpe Ratio (3Y) | 1.71 | 1.65 |
Past performance is not a guarantee of future results.
Top 10 Holdings
| 1 | GWO | Great-West Lifeco Inc. | 13.43% |
| 2 | RY | Royal Bank of Canada | 12.83% |
| 3 | BMO | Bank of Montreal | 12.83% |
| 4 | TD | Toronto Dominion Bank | 12.60% |
| 5 | BNS | Bank of Nova Scotia | 12.47% |
| 6 | POW | Power Corporation Of Canada | 12.37% |
| 7 | SLF | Sun Life Financial Inc. | 12.07% |
| 8 | NA | National Bank of Canada | 11.71% |
| 9 | CM | Canadian Imperial Bank Of Commerce | 11.60% |
| 1 | HEB | Hamilton Canadian Bank Equal-Weight Index ETF | 123.83% |
Sector Weights
| Sector | BANK | HCAL |
|---|---|---|
| Basic Materials | 0.00% | 0.00% |
| Communication Services | 0.00% | 0.00% |
| Consumer Cyclicals | 0.00% | 0.00% |
| Consumer Defensive | 0.00% | 0.00% |
| Energy | 0.00% | 0.00% |
| Financial Services | 100.00% | 100.00% |
| Healthcare | 0.00% | 0.00% |
| Industrials | 0.00% | 0.00% |
| Real Estate | 0.00% | 0.00% |
| Technology | 0.00% | 0.00% |
| Utilities | 0.00% | 0.00% |
About BANK
NA
About HCAL
HCAL is designed to track 1.25x the returns of the Solactive Equal Weight Canada Banks Index, investing in Canadian banks — using modest 25% cash leverage. HCAL does not use derivatives.
Which ETF is Right for You?
Both BANK and HCAL are listed on Canadian exchanges and accessible through most Canadian brokerages including Questrade, Wealthsimple Trade, TD Direct, and Interactive Brokers.
Based on the available data, BANK scores higher across our tracked metrics including YTD performance, dividend yield, and AUM — though both ETFs warrant individual research before investing.
- Consider your account type (TFSA, RRSP, non-registered) as it can affect dividend taxation.
- Compare management expense ratios (MER) directly on each provider's website.
- Look at average daily trading volume to assess liquidity.
- Review the fund's underlying index and holdings to ensure the exposure matches your goals.
This is not financial advice. Always do your own research or consult a licensed financial advisor before investing.
Frequently Asked Questions
What is the difference between BANK and HCAL?
BANK (Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund) and HCAL (Hamilton Enhanced Canadian Bank ETF) are both Canadian-listed ETFs. Key differences include their AUM ($1.12B vs $1.02B), dividend yield (12.14% vs 3.11%), and year-to-date performance (+21.42% vs +38.33%).
Is BANK better than HCAL?
There is no single "better" ETF — it depends on your investment goals. If you prioritise dividends, compare both yields and choose based on your income needs. Always review the fund's prospectus and consider your tax situation.
Can I buy BANK and HCAL on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both BANK and HCAL should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
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