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 $44.36 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: +21.00%, 1-year: +78.35%, 3-year annualised: +39.79%, 5-year annualised: +20.88%. Past performance is not a guarantee of future results. The 3-year Sharpe ratio is 1.65, 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 3.65%, 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, 123.7%). 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%), Basic Materials (0.0%), Consumer Cyclicals (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 $969M 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 17.00% and a beta of 0.00 (less volatile than the broad market). Its 3-year Sharpe ratio of 1.65 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
2026-06-02	$43.26	$44.36	$43.24	$44.36	$44.36	58,400
2026-06-01	$44.02	$44.02	$43.29	$43.37	$43.37	132,447
2026-05-29	$44.02	$44.36	$43.38	$43.98	$43.98	140,700
2026-05-28	$44.83	$44.83	$43.88	$44.12	$44.12	131,259
2026-05-27	$44.96	$45.50	$44.68	$44.89	$44.89	107,097
2026-05-26	$45.32	$45.56	$44.89	$45.14	$45.14	92,239
2026-05-25	$45.26	$45.68	$45.25	$45.40	$45.40	48,446
2026-05-22	$44.84	$45.05	$44.83	$44.96	$44.96	103,681
2026-05-21	$43.81	$44.69	$43.80	$44.60	$44.60	89,782
2026-05-20	$43.10	$44.07	$43.07	$43.99	$43.99	81,899

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

Hamilton Enhanced Canadian Bank ETF (HCAL : TSX)

CIBC Investor's Edge

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