HYLD.TO vs ESPX.TO: Income Fund Comparison
Hamilton Enhanced U.S. Covered Call ETF - Canada (HYLD.TO) and Evolve S&P 500 Enhanced Yield Fund - Canada (ESPX.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: HYLD.TO individual review · ESPX.TO individual review
HYLD.TO: Fund is subject to the fees of the underlying portfolio. You pay the aggregate fees of all the child ETF's contained within. This is 2.37% which is a very high expense ratio. Info at: https://hamiltonetfs.com/wp-content/uploads/2025/01/ETF-Facts-HYLD-EN-2025-01.pdf ESPX.TO: ETF Facts MER for the CAD hedged ESPX class is 0.66%. HYLD.TO the inception date for HYLD was February 4 2022. ESPX.TO fund started January 9 2023 - about 3.7 years old - rounds up to 4 years. Full Dependability and Return scores for both funds are available in the app.
| HYLD.TO | ESPX.TO | |
|---|---|---|
| Fund Name | Hamilton Enhanced U.S. Covered Call ETF - Canada | Evolve S&P 500 Enhanced Yield Fund - Canada |
| Fund Type | Diversified Fund | Index Based Fund |
| Exchange | TSX | TSX |
| Last Reviewed | Dec 24, 2025 | Sep 8, 2026 |
| Author | Adam Hyde, Income Investing Analyst | |
🔒 Full scores available — with Premium subscription
Compare Performance — Free →Fund Attributes: HYLD.TO vs ESPX.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.
Fund is subject to the fees of the underlying portfolio. You pay the aggregate fees of all the child ETF's contained within. This is 2.37% which is a very high expense ratio. Info at: https://hamiltonetfs.com/wp-content/uploads/2025/01/ETF-Facts-HYLD-EN-2025-01.pdf
ETF Facts MER for the CAD hedged ESPX class is 0.66%.
Hamilton has over $9 billion in assets under management.
Evolve now has over $10 billion in total assets under management.
The inception date for HYLD was February 4 2022.
Fund started January 9 2023 - about 3.7 years old - rounds up to 4 years.
$1 Billion AUM for this fund.
Fund total net assets across all classes are about $364.5 million.
Risk: HYLD.TO vs ESPX.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 about the same as the S&P. Note that the fund uses 25% leverage to increase returns so this increases its volatility slightly.
Beta is 0.92 vs SPY (2023-01-20 to 2026-09-06) and standalone volatility (annualized weekly total returns) is about 13.2% - both point to a low-to-moderate volatility rating.
See the full Risk analysis for both HYLD.TO and ESPX.TO — volatility ratings, diversification scores, and analyst notes.
View Plans →Return: HYLD.TO vs ESPX.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 monthly - confirmed from the distribution history table.
See the full Return analysis for both HYLD.TO and ESPX.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 HYLD.TO and ESPX.TO are available in the Dependable Income Investing app.
See our full scoring methodology →
Frequently Asked Questions: HYLD.TO vs ESPX.TO
Which has a lower expense ratio, HYLD.TO or ESPX.TO?
HYLD.TO: Fund is subject to the fees of the underlying portfolio. You pay the aggregate fees of all the child ETF's contained within. This is 2.37% which is a very high expense ratio. Info at: https://hamiltonetfs.com/wp-content/uploads/2025/01/ETF-Facts-HYLD-EN-2025-01.pdf
ESPX.TO: ETF Facts MER for the CAD hedged ESPX class is 0.66%.
Which fund has more assets under management, HYLD.TO or ESPX.TO?
HYLD.TO: $1 Billion AUM for this fund.
ESPX.TO: Fund total net assets across all classes are about $364.5 million.
Which fund has been trading longer, HYLD.TO or ESPX.TO?
HYLD.TO: The inception date for HYLD was February 4 2022.
ESPX.TO: Fund started January 9 2023 - about 3.7 years old - rounds up to 4 years.
Who manages HYLD.TO vs ESPX.TO?
HYLD.TO: Hamilton has over $9 billion in assets under management.
ESPX.TO: Evolve now has over $10 billion in total assets under management.
Where can I see the full HYLD.TO vs ESPX.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 HYLD.TO and ESPX.TO?
Hamilton Enhanced U.S. Covered Call ETF - Canada is a Diversified Fund. Fund is subject to the fees of the underlying portfolio. You pay the aggregate fees of all the child ETF's contained within. This is 2.37% which is a very high expense ratio. Info at: https://hamiltonetfs.com/wp-content/uploads/2025/01/ETF-Facts-HYLD-EN-2025-01.pdf. Evolve S&P 500 Enhanced Yield Fund - Canada is a Index Based Fund. ETF Facts MER for the CAD hedged ESPX class is 0.66%. Full comparison including Dependability Score is available in the Dependable Income Investing app.
Which is better for income investors, HYLD.TO or ESPX.TO?
HYLD.TO: Fund is subject to the fees of the underlying portfolio. You pay the aggregate fees of all the child ETF's contained within. This is 2.37% which is a very high expense ratio. Info at: https://hamiltonetfs.com/wp-content/uploads/2025/01/ETF-Facts-HYLD-EN-2025-01.pdf. The inception date for HYLD was February 4 2022. ESPX.TO: ETF Facts MER for the CAD hedged ESPX class is 0.66%. Fund started January 9 2023 - about 3.7 years old - rounds up to 4 years. Which scores higher on Dependability and Return is available in the Dependable Income Investing app.
Do HYLD.TO and ESPX.TO pay monthly distributions?
HYLD.TO: Pays Monthly. ESPX.TO: Pays monthly - confirmed from the distribution history table. Full yield and distribution stability scores for both funds are available in the Dependable Income Investing app.
See the Full HYLD.TO vs ESPX.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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