handbill vs advertisement

handbill and advertisement both are nouns.

Word	Noun	Adjective	Verb	Adverb
handbill	Yes	No	No	No
advertisement	Yes	No	No	No

As nouns, advertisement is a hypernym of handbill; that is, advertisement is a word with a broader meaning than handbill:

handbill: an advertisement (usually printed on a page or in a leaflet) intended for wide distribution
advertisement: a public promotion of some product or service

Other hypernyms of handbill include ad, advert, advertising, advertizement, advertizing.

handbill (noun)	advertisement (noun)
an advertisement (usually printed on a page or in a leaflet) intended for wide distribution	a public promotion of some product or service