TRVI is a very niche ETF. It was probably created by Harvest back in early 2023 to take advantage of the recovery in travel companies post-pandemic. They write call options on 33% of the portfolio, which is not the worst I've witnessed, so you'll still benefit from most of the upside. My only doubts on this one right now is that travel and leisure could end up struggling a bit moving forward in a tough macro environment.
The fund has experienced outflows over the last year here and it is a relatively small fund. It's unperformed the S&P 500 by quite a wide margin and you're effectively paying a high fee to underperform and get a large dividend. To me, this looks like a thematic fund they launched to take advantage of a return to travel. Most of these thematic ETFs, to put it bluntly, suck over the long term.
HLIF is what it is. High income fund that takes high yielding Canadian stocks and sells covered calls. The call options for low volatility Canadian equities aren't always that lucrative, not as lucrative as US payers. I tend to prefer VDY in this regard but if you're insistent on the higher yield, it's not all that bad of an option. Just know it is likely to underperform a fund like VDY in terms of total return over the long-term.