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  5. HCAL: In a previous answer you said HCAL MER is 2. [Hamilton Enhanced Canadian Bank ETF]
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Q: In a previous answer you said HCAL MER is 2.08%, on the ETF web site (https://hamiltonetfs.com/etf/hcal/) it says Management Fee 0.65%
Which one it is?

Thanks
Asked by Marios on March 12, 2026
5i Research Answer:

Management fee is different than MER; management fee is 0.65% but MER includes other fees. HCAL seems to hide its MER pretty well, which is annoying. All our data feeds show 2.08%. But in its 2025 half-year report, it was 1.93%, and has risen since then. 

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