Hamilton Enhanced Canadian Bank ETF

  • Ticker HCAL
  • Yield % 4.23

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Canadian Banks Enhanced HCAL
HCAL FACT SHEET (ENGLISH)
HCAL FACT SHEET (Français)
ETFs FAQ

Highlights

Yield of 4.23%*An estimate of the annualized yield an investor would receive if the most recent distribution remained unchanged for the next 12 months, stated as a percentage of the price per unit on December 31, 2025. The yield calculation excludes any additional year end distributions and does not include reinvested distributions., paid monthly

Equal-weight exposure to Canada’s “Big Six” banks with modest 25% cash leverage

HCAL has similar volatility compared to the Big-6 Canadian banks*Volatility is the annualized standard deviation of daily returns since Oct 14, 2020. Big-6 average is the Solactive Equal Weight Canada Banks Index (SOLCBEW). As at December 31, 2025. Source: Bloomberg, Hamilton ETFs

A GOOD FIT FOR INVESTORS WHO WANT

Enhanced growth potential

Higher monthly income

Modest 25% cash leverage

FUND OBJECTIVE

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.*Effective April 14, 2023, the investment objective of the Hamilton Enhanced Canadian Bank ETF (HCAL) was changed. Please refer to the disclosure documents of HCAL at www.hamiltonetfs.com.

Insights

Cdn Banks Q4-2025 — Key Takeaways (BNN Video)More
HCAL Turns Five: Enhanced Exposure to Canadian BanksMore
Cdn Banks Q3-2025 — Key Takeaways (BNN Video)More

HCAL Commentary  |  All Insights & Commentary

Performance

  • TICKER HCAL
  • NAV $36.42
  • 1 DAY CHANGE -$0.61
  • YIELD % *

    Current annualized yield.

     4.23
  • ASSETS $792.9M

Total Returns (incl. Dividends)

As at December 31, 2025

  • ticker 0.0%
  • 1 month 6.2%
  • 3 months 15.3%
  • 6 months 36.8%
  • ytd 54.0%
  • 1 year 54.0%
  • 3 years* 30.4%
  • 5 years* 22.6%
  • inception* 25.3%
  • as of date 1200.0%

Benefits of Modest Leverage1

Since March 2007

DISCLAIMER1. Source: Solactive AG, Bloomberg, Hamilton ETFs. Data from March 16, 2007 to December 31, 2025.
The graph illustrates the growth of an initial investment of $10,000 in the Solactive Equal Weight Canada Banks Index (SOLCBEW) vs 1.25x SOLCBEW with annual compounded total returns. The graph is for illustrative purposes only and intended to demonstrate the historical impact of the indexes compound growth rate. It is not a projection of future index performance, nor does it reflect potential returns on investments in the ETF. Investors cannot directly invest in the index. All performance data assumes reinvestment of distributions and excludes management fees, transaction costs, and other expenses which would have impacted an investor’s returns.

Similar Volatility vs. Big-6 Banks2

 

DISCLAIMER2. Standard deviation since October 14, 2020, at December 31, 2025. Source: Bloomberg, Hamilton ETFs

  • Overview
  • Distributions
  • Documents

Holdings

As at December 31, 2025

tickernameweight
HEBHamilton Canadian Bank Equal-Weight Index ETF124.5%
Cash and Other Assets/Liabilities-24.5%

Leverage is via cash borrowing (not derivatives), provided by a Canadian financial institution.

HEB Holdings

Hamilton Canadian Bank Equal-Weight Index ETF invests in Canada's "big six" banks
NameWeight
Toronto-Dominion Bank17.7%
Royal Bank of Canada17.2%
National Bank of Canada16.2%
Bank of Nova Scotia16.9%
Canadian Imperial Bank of Commerce16.9%
Bank of Montreal 14.9%

Fund Details

 

All Hamilton ETFs are available for purchase on the Toronto Stock Exchange (TSX) or Cboe Canada, and can be used in RRSP, RRIF, DPSP, RDSP, FHSA, RESP and TFSA portfolios. To set up a DRIP, please contact your individual brokerage.
TickerHCAL
ExchangeToronto Stock Exchange (TSX)
CUSIP407363100
Inception DateOctober 14, 2020
Investment StyleIndex-based, modest 25% leverage
IndexSolactive Equal Weight Canada Banks Index
Assets$792.9M CAD*
Current Annualized Yield4.23%*
DistributionsMonthly
Currency HedgingNone
Management Fee0.65%
Risk RatingHigh
AuditorKPMG LLP
Legal Entity Identifier549300JNYPYDVKHHRV07

Distributions

HCAL distributions are paid monthly in cash, or if the unitholder has enrolled in the dividend reinvestment plan (DRIP), reinvested in additional units of the ETF. To set up a DRIP, please contact your individual brokerage. The annual tax information is available here.
Ex-Dividend DatePay DateFrequencyAmount
2025-12-312026-01-08Monthly$0.1280
2025-11-282025-12-05Monthly$0.1280
2025-10-312025-11-07Monthly$0.1270
2025-09-292025-10-07Monthly$0.1270
2025-08-292025-09-08Monthly$0.1270
2025-07-312025-08-08Monthly$0.1270
2025-06-302025-07-08Monthly$0.1270
2025-05-302025-06-06Monthly$0.1270
2025-04-302025-05-07Monthly$0.1270
2025-03-312025-04-07Monthly$0.1270
2025-02-282025-03-07Monthly$0.1270
2025-01-312025-02-07Monthly$0.1270
2024-12-312025-01-08Monthly$0.1270
2024-11-292024-12-06Monthly$0.1270
2024-10-312024-11-07Monthly$0.1270
2024-09-272024-10-07Monthly$0.1270
2024-08-302024-09-09Monthly$0.1270
2024-07-312024-08-08Monthly$0.1270
2024-06-282024-07-08Monthly$0.1270
2024-05-312024-06-07Monthly$0.1270
2024-04-292024-05-07Monthly$0.1270
2024-03-272024-04-05Monthly$0.1270
2024-02-282024-03-07Monthly$0.1270
2024-01-302024-02-09Monthly$0.1270
2023-12-282024-01-08Monthly$0.1270
2023-11-292023-12-07Monthly$0.1270
2023-10-302023-11-07Monthly$0.1270
2023-09-282023-10-06Monthly$0.1270
2023-08-302023-09-08Monthly$0.1270
2023-07-282023-08-08Monthly$0.1270
2023-06-292023-07-10Monthly$0.1270
2023-05-302023-06-07Monthly$0.1270
2023-04-272023-05-05Monthly$0.1270
2023-03-302023-04-13Monthly$0.1270
2023-02-272023-03-10Monthly$0.1270
2023-01-302023-02-10Monthly$0.1270
2022-12-292023-01-12Monthly$0.1270
2022-11-292022-12-12Monthly$0.1270
2022-10-282022-11-10Monthly$0.1270
2022-09-282022-10-13Monthly$0.1270
2022-08-302022-09-13Monthly$0.1270
2022-07-282022-08-11Monthly$0.1270
2022-06-292022-07-13Monthly$0.1270
2022-05-302022-06-10Monthly$0.1225
2022-04-282022-05-11Monthly$0.1225
2022-03-302022-04-12Monthly$0.1225
2022-02-252022-03-10Monthly$0.1225
2022-01-282022-02-10Monthly$0.115
2021-12-302022-01-13Special (non-cash)$2.29452
2021-12-302022-01-13Monthly$0.115
2021-11-292021-12-10Monthly$0.1075
2021-10-282021-11-10Monthly$0.100
2021-09-282021-10-13Monthly$0.100
2021-08-302021-09-13Monthly$0.100
2021-07-292021-08-12Monthly$0.100
2021-06-292021-07-13Monthly$0.100
2021-05-282021-06-10Monthly$0.100
2021-04-292021-05-12Special (cash)$0.110
2021-04-292021-05-12Monthly$0.093
2021-03-302021-04-13Monthly$0.093
2021-02-252021-03-10Monthly$0.087
2021-01-282021-02-10Monthly$0.087
2020-12-302021-01-13Special (cash)$0.30745
2020-12-302021-01-13Monthly$0.087
2020-11-272020-12-10Monthly$0.087
2020-10-292020-11-12Monthly$0.087

You can view public filings for the Hamilton Enhanced Canadian Bank ETF on SEDAR+.

Press Releases

View the latest HCAL Press Releases

Fact Sheet

HCAL Fact Sheet (2025-12-31) English Français

ETF Facts

HCAL ETF Facts (2025-08-14) English Français

Prospectus

HCAL Prospectus (2025-08-14) English Français

A special meeting of HCAL unitholders was held on February 15, 2023. For further details, please see the Management Information Circular.

Financial Statements & MRFP

Annual Report (2024-12-31) English Français
Interim Report (2025-06-30) English Français

Latest Portfolio Summary

Q3 2025 Portfolio Summary (2025-09-30) Download

Proxy Voting

Proxy Voting Report (2024-07 to 2025-06) Download

Independent Review Committee

2024 Annual Report to Securityholders (2025-03-11) Download

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