HDIV.TO vs EIT-UN.TO: Income Fund Comparison
Hamilton Enhanced Canadian Covered Call ETF - Canada (HDIV.TO) and Canoe EIT Income Fund - Canada (EIT-UN.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: HDIV.TO individual review · EIT-UN.TO individual review
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 EIT-UN.TO: MER Including Issue Costs & Interest (%) is 2.13 which is high. HDIV.TO inception date was July 19 2021. EIT-UN.TO fund inception date was August 1997. Full Dependability and Return scores for both funds are available in the app.
| HDIV.TO | EIT-UN.TO | |
|---|---|---|
| Fund Name | Hamilton Enhanced Canadian Covered Call ETF - Canada | Canoe EIT Income Fund - Canada |
| Fund Type | Diversified Fund | Diversified Fund |
| Exchange | TSX | TSX |
| Last Reviewed | 2025-12-09 | 2025-12-09 |
| Author | Adam Hyde, Income Investing Analyst | |
🔒 Full scores available — with Premium subscription
Compare Performance — Free →Fund Attributes: HDIV.TO vs EIT-UN.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.
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
MER Including Issue Costs & Interest (%) is 2.13 which is high.
Has over $2.4 billion in assets under management.
Canoe manages more than 20.5 Billion in Assets.
Inception date was July 19 2021.
Fund inception date was August 1997.
Over 1.1 Billion in this fund.
3 Billion AUM in this fund. One of Canada’s largest closed-end funds.
Risk: HDIV.TO vs EIT-UN.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.
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.
Portfolio Visualizer says the monthly Beta is 0.8 over the last 10 years.
See the full Risk analysis for both HDIV.TO and EIT-UN.TO — volatility ratings, diversification scores, and analyst notes.
View Plans →Return: HDIV.TO vs EIT-UN.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.
Pays distributions monthly.
See the full Return analysis for both HDIV.TO and EIT-UN.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 HDIV.TO and EIT-UN.TO are available in the Dependable Income Investing app.
See our full scoring methodology →
Frequently Asked Questions: HDIV.TO vs EIT-UN.TO
Which has a lower expense ratio, HDIV.TO or EIT-UN.TO?
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
EIT-UN.TO: MER Including Issue Costs & Interest (%) is 2.13 which is high.
Which fund has more assets under management, HDIV.TO or EIT-UN.TO?
HDIV.TO: Over 1.1 Billion in this fund.
EIT-UN.TO: 3 Billion AUM in this fund. One of Canada’s largest closed-end funds.
Which fund has been trading longer, HDIV.TO or EIT-UN.TO?
HDIV.TO: Inception date was July 19 2021.
EIT-UN.TO: Fund inception date was August 1997.
Who manages HDIV.TO vs EIT-UN.TO?
HDIV.TO: Has over $2.4 billion in assets under management.
EIT-UN.TO: Canoe manages more than 20.5 Billion in Assets.
Where can I see the full HDIV.TO vs EIT-UN.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 HDIV.TO and EIT-UN.TO?
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. Canoe EIT Income Fund - Canada is a Diversified Fund. MER Including Issue Costs & Interest (%) is 2.13 which is high. Full comparison including Dependability Score is available in the Dependable Income Investing app.
Which is better for income investors, HDIV.TO or EIT-UN.TO?
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. EIT-UN.TO: MER Including Issue Costs & Interest (%) is 2.13 which is high. Fund inception date was August 1997. Which scores higher on Dependability and Return is available in the Dependable Income Investing app.
Do HDIV.TO and EIT-UN.TO pay monthly distributions?
HDIV.TO: Pays Monthly. EIT-UN.TO: Pays distributions monthly. Full yield and distribution stability scores for both funds are available in the Dependable Income Investing app.
See the Full HDIV.TO vs EIT-UN.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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