ETSX.TO vs HDIV.TO: Income Fund Comparison
Evolve S&P/TSX 60 Enhanced Yield Fund - Canada (ETSX.TO) and Hamilton Enhanced Canadian Covered Call ETF - Canada (HDIV.TO) are both income-focused funds. Below is our independent side-by-side review using the Dependable Income Investing 13-factor scoring system — designed specifically for income investors seeking reliable, sustainable distributions.
Also see: ETSX.TO individual review · HDIV.TO individual review
ETSX.TO: Management expense ratio is 0.69% HDIV.TO: The fund page mentions it is subject to the fees of the underlying portfolio so you pay the aggregate fees of all the child ETF's contained within. This is 2.55% which is very high according to: https://hamiltonetfs.com/wp-content/uploads/2025/08/ETF-Facts-HDIV-EN-2025-08.pdf ETSX.TO fund inception date was January 9 2023. HDIV.TO inception date was July 19 2021. Full Dependability and Return scores for both funds are available in the app.
| ETSX.TO | HDIV.TO | |
|---|---|---|
| Fund Name | Evolve S&P/TSX 60 Enhanced Yield Fund - Canada | Hamilton Enhanced Canadian Covered Call ETF - Canada |
| Fund Type | Index Based Fund | Diversified Fund |
| Exchange | TSX | TSX |
| Last Reviewed | 2025-12-10 | 2025-12-09 |
| Author | Adam Hyde, Income Investing Analyst | |
🔒 Full scores available — with Premium subscription
Compare Performance — Free →Fund Attributes: ETSX.TO vs HDIV.TO 20% of overall score
Fund Attributes cover the foundational characteristics of each fund: cost, company backing, track record, and size. These factors reflect stability and cost-efficiency for long-term income investors.
Management expense ratio is 0.69%
The fund page mentions it is subject to the fees of the underlying portfolio so you pay the aggregate fees of all the child ETF's contained within. This is 2.55% which is very high according to: https://hamiltonetfs.com/wp-content/uploads/2025/08/ETF-Facts-HDIV-EN-2025-08.pdf
Evolve has about $8 Billion in Assets under management.
Has over $2.4 billion in assets under management.
Fund inception date was January 9 2023.
Inception date was July 19 2021.
About $157 million in this fund.
Over 1.1 Billion in this fund.
Risk: ETSX.TO vs HDIV.TO 35% of overall score
Risk factors evaluate how each fund manages volatility, diversification, and the nature of its underlying assets — critical considerations for income investors who prioritise capital preservation.
Beta is about 0.63 which is low.
Volatility beta is slightly less than the S&P at 0.8. Note that the fund uses 25% leverage to increase returns so this increases its volatility slightly.
See the full Risk analysis for both ETSX.TO and HDIV.TO — volatility ratings, diversification scores, and analyst notes.
View Plans →Return: ETSX.TO vs HDIV.TO 45% of overall score
Return factors assess income generation quality: current yield, distribution consistency, price history, and payment frequency. This is the most heavily weighted category for income investors.
Pays monthly dividends.
Pays Monthly.
See the full Return analysis for both ETSX.TO and HDIV.TO — yield ratings, distribution consistency scores, and capital history.
View Plans →Our Review Methodology
Every fund reviewed on Dependable Income Investing is scored using our 13-factor Fund Report Card, organised into three weighted categories: Fund Attributes (20%), Risk (35%), and Return (45%). Each criterion is rated 1–5 by our analysts based on publicly available fund data.
We also calculate a Dependability Score — a weighted composite of six income-specific factors ranked by importance for retirement income investors: Yield Stability, Yield, Volatility, Capital History, Fund Risk, and Underlying Assets. This score answers the question income investors care about most: can I depend on this fund to pay me reliably?
Full scores, ratings, and analyst notes for both ETSX.TO and HDIV.TO are available in the Dependable Income Investing app.
See our full scoring methodology →
Frequently Asked Questions: ETSX.TO vs HDIV.TO
Which has a lower expense ratio, ETSX.TO or HDIV.TO?
ETSX.TO: Management expense ratio is 0.69%
HDIV.TO: The fund page mentions it is subject to the fees of the underlying portfolio so you pay the aggregate fees of all the child ETF's contained within. This is 2.55% which is very high according to: https://hamiltonetfs.com/wp-content/uploads/2025/08/ETF-Facts-HDIV-EN-2025-08.pdf
Which fund has more assets under management, ETSX.TO or HDIV.TO?
ETSX.TO: About $157 million in this fund.
HDIV.TO: Over 1.1 Billion in this fund.
Which fund has been trading longer, ETSX.TO or HDIV.TO?
ETSX.TO: Fund inception date was January 9 2023.
HDIV.TO: Inception date was July 19 2021.
Who manages ETSX.TO vs HDIV.TO?
ETSX.TO: Evolve has about $8 Billion in Assets under management.
HDIV.TO: Has over $2.4 billion in assets under management.
Where can I see the full ETSX.TO vs HDIV.TO comparison with scores?
The complete side-by-side comparison — including all Risk and Return scores, analyst notes, Overall Score, and Dependability Score for both funds — is available in the Dependable Income Investing app.
What is the difference between ETSX.TO and HDIV.TO?
Evolve S&P/TSX 60 Enhanced Yield Fund - Canada is a Index Based Fund. Management expense ratio is 0.69%. Hamilton Enhanced Canadian Covered Call ETF - Canada is a Diversified Fund. The fund page mentions it is subject to the fees of the underlying portfolio so you pay the aggregate fees of all the child ETF's contained within. This is 2.55% which is very high according to: https://hamiltonetfs.com/wp-content/uploads/2025/08/ETF-Facts-HDIV-EN-2025-08.pdf. Full comparison including Dependability Score is available in the Dependable Income Investing app.
Which is better for income investors, ETSX.TO or HDIV.TO?
ETSX.TO: Management expense ratio is 0.69%. Fund inception date was January 9 2023. HDIV.TO: The fund page mentions it is subject to the fees of the underlying portfolio so you pay the aggregate fees of all the child ETF's contained within. This is 2.55% which is very high according to: https://hamiltonetfs.com/wp-content/uploads/2025/08/ETF-Facts-HDIV-EN-2025-08.pdf. Inception date was July 19 2021. Which scores higher on Dependability and Return is available in the Dependable Income Investing app.
Do ETSX.TO and HDIV.TO pay monthly distributions?
ETSX.TO: Pays monthly dividends. HDIV.TO: Pays Monthly. Full yield and distribution stability scores for both funds are available in the Dependable Income Investing app.
See the Full ETSX.TO vs HDIV.TO Comparison
The Dependable Income Investing app gives you the complete picture: all 13 scoring factors for both funds, Risk and Return analyst notes, Dependability Scores, and tools to compare any income fund side by side.
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