Question 1

What is HCAL?

Accepted Answer

HCAL — Hamilton Enhanced Canadian Bank ETF — is a Canadian-listed ETF trading on the TSX. 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.

Question 2

What is the HCAL ETF price today?

Accepted Answer

HCAL last traded at $47.37 CAD on the TSX. See the price chart above for recent performance.

Question 3

What is the HCAL MER (management expense ratio)?

Accepted Answer

HCAL has a management expense ratio (MER) of 0% per year. This fee is automatically deducted from the fund's assets, so you never pay it directly — but it does reduce your net returns over time. At 0%, HCAL is considered a low-cost ETF.

Question 4

What are HCAL annualised returns?

Accepted Answer

HCAL historical returns: YTD: +29.21%, 1-year: +60.73%, 3-year annualised: +46.57%, 5-year annualised: +23.67%. Past performance is not a guarantee of future results. The 3-year Sharpe ratio is 1.78, which measures risk-adjusted return.

Question 5

Does HCAL pay dividends or distributions?

Accepted Answer

Yes, HCAL distributes income to unitholders. The current distribution yield is approximately 3.29%, paid monthly. Distributions may include dividends, interest, capital gains, or return of capital depending on the fund's holdings. In a TFSA or RRSP, distributions are sheltered from tax.

Question 6

What does HCAL invest in?

Accepted Answer

HCAL's top holdings include Hamilton Canadian Bank Equal-Weight Index ETF (HEB, 126.0%). See the full Top 10 Holdings table above for a complete breakdown. The fund tracks the Morningstar CAD O/N Cash GR CAD.

Question 7

What sectors does HCAL invest in?

Accepted Answer

HCAL's largest sector exposures are Financial Services (100.0%), Energy (0.0%), Utilities (0.0%). The full sector breakdown is shown in the Sector Weights table on this page.

Question 8

How large is HCAL? (Assets under management)

Accepted Answer

HCAL has approximately $1.02B in assets under management (AUM). Larger AUM generally means better liquidity, tighter bid-ask spreads, and a lower risk of the fund being wound down.

Question 9

When was HCAL launched?

Accepted Answer

HCAL was launched on October 14, 2020, giving it a 6-year track record. A longer history makes it easier to evaluate how the ETF performs across different market cycles.

Question 10

How do I buy HCAL in Canada?

Accepted Answer

HCAL trades on the TSX under the ticker HCAL. You can buy it through any Canadian brokerage, including Wealthsimple Trade (commission-free), Questrade, TD Direct Investing, RBC Direct, and CIBC Investor's Edge. It can be held in a TFSA, RRSP, FHSA, or taxable account.

Question 11

How risky is HCAL?

Accepted Answer

HCAL has a 1-year volatility of 21.25% and a beta of 0.00 (less volatile than the broad market). Its 3-year Sharpe ratio of 1.78 indicates solid risk-adjusted returns. As with all market-linked investments, past volatility does not predict future risk.

Date	Open	High	Low	Close	Adj Close	Volume
2026-10-01	$47.49	$47.49	$46.40	$47.37	$47.37	82,899
2026-09-30	$48.38	$48.38	$47.60	$47.62	$47.62	26,559
2026-09-29	$48.74	$48.74	$48.15	$48.36	$48.36	18,918
2026-09-28	$48.98	$49.33	$48.79	$48.93	$48.93	63,768
2026-09-25	$48.54	$49.21	$48.54	$49.15	$49.15	61,021
2026-09-24	$48.23	$48.50	$47.97	$48.40	$48.40	38,296
2026-09-23	$49.28	$49.52	$48.26	$48.26	$48.26	66,503
2026-09-22	$50.27	$50.31	$49.27	$49.61	$49.61	111,426
2026-09-21	$49.18	$50.19	$49.18	$50.15	$50.15	52,351
2026-09-18	$48.70	$49.22	$48.59	$49.19	$49.19	47,486

Sector	Weight
Financial Services	100.00%
Energy	0.00%
Utilities	0.00%
Healthcare	0.00%
Technology	0.00%
Industrials	0.00%
Real Estate	0.00%
Basic Materials	0.00%
Consumer Cyclicals	0.00%
Consumer Defensive	0.00%
Communication Services	0.00%

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CIBC Investor's Edge

Hamilton Enhanced Canadian Bank ETF (HCAL : TSX)

Price Chart (30 Days)

Key Statistics

Recent Price History

Annualised Returns

Top 10 Holdings

Sector Weights

About Hamilton Enhanced Canadian Bank ETF

ETF Details

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Frequently Asked Questions — HCAL