PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan

Hamilton Canadian Financials Yield Maximizer ETF (HMAX.TO) Alternatives

ETF · Currency in CAD · Last updated Aug 2, 2026

HMAX aims to generate monthly income by providing exposure to a market cap-weighted portfolio of Canadian financial services stocks, utilizing an active covered call strategy to reduce volatility and enhance dividend income.

Hamilton Canadian Financials Yield Maximizer ETF (HMAX.TO) belongs to the Derivative Income category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with HMAX.TO. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to HMAX.TO

HMAX.TO charges 0.65% annually. There are 45 ETFs in the Derivative Income category with lower expense ratios, going as low as 0.21%.

SymbolNameExpense RatioAUMInception
QQCI.TO
Invesco NASDAQ 100 Income Advantage ETF0.21%63.79MAug 2024HMAX.TO vs QQCI.TO
EQLI.TO
Invesco S&P 500 Equal Weight Income Advantage ETF0.29%169.56MNov 2025HMAX.TO vs EQLI.TO
ECHI.TO
Ninepoint Enhanced Canadian HighShares ETF0.29%—Aug 2025HMAX.TO vs ECHI.TO
JEPI.TO
JPMorgan US Equity Premium Income Active ETF0.35%—Sep 2024HMAX.TO vs JEPI.TO
HBIL.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedg...0.35%214.20MSep 2024HMAX.TO vs HBIL.TO

Best Risk-Adjusted Alternatives to HMAX.TO

HMAX.TO has a PortfoliosLab risk / return rank of 97. There are 8 ETFs in the Derivative Income category with higher risk-adjusted ranks, going as high as 98.

SymbolNameRisk / Return RankAUMInception
HLIF.TO
Harvest Canadian Equity Income Leaders ETF Class A
98
195.83MJun 2022HMAX.TO vs HLIF.TO
CBNK.TO
Mulvihill Canadian Bank Enhanced Yield ETF
98
—Feb 2022HMAX.TO vs CBNK.TO
BANK.TO
Evolve Canadian Banks and Lifecos Enhanced Yield I...
98
1.33BFeb 2022HMAX.TO vs BANK.TO
ZWB.TO
BMO Covered Call Canadian Banks ETF
97
4.77BJan 2011HMAX.TO vs ZWB.TO
BKCC.TO
Global X Equal Weight Canadian Bank Covered Call E...
97
405.23MMay 2011HMAX.TO vs BKCC.TO

Top Performing HMAX.TO Alternatives (YTD)

HMAX.TO is at 19.57% YTD. There are 17 ETFs in the Derivative Income category with higher YTD returns, going as high as 44.23%.

SymbolNameYTD ReturnAUMInception
CBNK.TO
Mulvihill Canadian Bank Enhanced Yield ETF
44.23%
—Feb 2022HMAX.TO vs CBNK.TO
CNQE.TO
Harvest CNQ Enhanced High Income Shares ETF
41.00%
—Aug 2025HMAX.TO vs CNQE.TO
ENCL.TO
Global X Enhanced Canadian Oil and Gas Equity Cove...
39.90%
295.63MOct 2023HMAX.TO vs ENCL.TO
HPF.TO
Harvest Energy Leaders Income ETF – Class A Units
37.52%
69.39MOct 2014HMAX.TO vs HPF.TO
NXF.TO
CI Energy Giants Covered Call ETF Common Units (CA...
34.00%
140.96MFeb 2015HMAX.TO vs NXF.TO

Lowest Volatility Alternatives to HMAX.TO

HMAX.TO has 10.55% 1-year volatility. There are 26 ETFs in the Derivative Income category with lower 1-year volatility, going as low as 1.80%.

SymbolNameVolatility 1YAUMInception
HBIL.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedg...1.80%214.20MSep 2024HMAX.TO vs HBIL.TO
HBIL-U.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhed...1.97%152.80MSep 2024HMAX.TO vs HBIL-U.TO
PYF.TO
Purpose Premium Yield Fund Series ETF3.28%682.20MNov 2018HMAX.TO vs PYF.TO
HPYM.TO
Harvest Premium Yield 7-10 Year Treasury ETF - Cla...4.70%249.28MJan 2024HMAX.TO vs HPYM.TO
PINC.TO
Purpose Multi-Asset Income Fund6.37%108.20MApr 2018HMAX.TO vs PINC.TO

Lowest Drawdown Alternatives to HMAX.TO

HMAX.TO has a 1-year max drawdown of -7.29%. There are 29 ETFs in the Derivative Income category with shallower 1-year drawdowns, going as shallow as -0.95%.

SymbolNameMax Drawdown 1YAUMInception
HBIL.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedg...
-0.95%
214.20MSep 2024HMAX.TO vs HBIL.TO
HBIL-U.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhed...
-1.32%
152.80MSep 2024HMAX.TO vs HBIL-U.TO
PYF.TO
Purpose Premium Yield Fund Series ETF
-2.11%
682.20MNov 2018HMAX.TO vs PYF.TO
HLIF.TO
Harvest Canadian Equity Income Leaders ETF Class A
-3.09%
195.83MJun 2022HMAX.TO vs HLIF.TO
PINC.TO
Purpose Multi-Asset Income Fund
-3.59%
108.20MApr 2018HMAX.TO vs PINC.TO

Other ETFs from Hamilton

The 10 most viewed Hamilton ETFs shown here include HDIV.TO, HYLD.TO, HCAL.TO and span 8 categories. AUM among these funds goes as high as $2B.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
HDIV.TO
Hamilton Enhanced Canadian Covered Call ETFDerivative Income
95
18.30%
1.79BJul 2021HMAX.TO vs HDIV.TO
HYLD.TO
Hamilton Enhanced U.S. Covered Call ETFDerivative Income
68
11.33%
1.30BFeb 2022HMAX.TO vs HYLD.TO
HCAL.TO
Hamilton Enhanced Canadian Bank ETFFinancials Equities, Canada Equities, Leveraged Equities
98
41.03%
1.09BOct 2020HMAX.TO vs HCAL.TO
QDAY.NEO
Hamilton EnhancedTechnology DayMAX™ ETFDerivative Income
51
22.56%
—Jul 2025HMAX.TO vs QDAY.NEO
UMAX.TO
Hamilton Utilities YIELD MAXIMIZER ETFDerivative Income, Utilities Equities
77
8.99%
1.45BJun 2023HMAX.TO vs UMAX.TO
CDAY.NEO
Hamilton Enhanced Canadian Equity DayMAX ETFDerivative Income, Canada Equities
92
17.13%
242.10MJul 2025HMAX.TO vs CDAY.NEO
QMAX.TO
Hamilton Technology YIELD MAXIMIZER ETFTechnology Equities, Derivative Income
31
11.50%
936.10MOct 2023HMAX.TO vs QMAX.TO
CMVP.TO
HAMILTON CHAMPIONS Canadian Dividend Index ETF Cla...Canada Equities
95
17.44%
—Jan 2025HMAX.TO vs CMVP.TO
SDAY.NEO
Hamilton Enhanced U.S. Equity DayMAX™ ETFDerivative Income
74
16.75%
0.00Jul 2025HMAX.TO vs SDAY.NEO
AMAX.TO
Hamilton Gold Producer YIELD MAXIMIZER ETFGold, Derivative Income, Precious Metals
28
-13.72%
481.30MFeb 2024HMAX.TO vs AMAX.TO

Often Compared With HMAX.TO

Investors most often compare HMAX.TO with HHIS.TO, HYLD, ZEB.TO. These 20 comparison targets span 14 categories, based on PortfoliosLab usage data.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
HHIS.TO
Harvest Diversified High Income Shares ETFDerivative Income
16
1.29%
1.82BJan 2025HMAX.TO vs HHIS.TO
HYLD
High Yield ETFHigh Yield Bonds——95.91MNov 2010HMAX.TO vs HYLD
ZEB.TO
BMO Equal Weight Banks Index ETFFinancials Equities, Equal Weight
98
32.90%
7.10BOct 2009HMAX.TO vs ZEB.TO
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index E...Dividend
99
28.99%
8.59BNov 2012HMAX.TO vs VDY.TO
VFV.TO
Vanguard S&P 500 Index ETFS&P 500
72
12.34%
34.09BNov 2012HMAX.TO vs VFV.TO
XDIV.TO
iShares Core MSCI Canadian Quality Dividend Index ...Quality Factor, Dividend, Large Cap Value Equities
98
29.20%
6.16BJun 2017HMAX.TO vs XDIV.TO
FIE.TO
iShares Canadian Financial Monthly Income ETFFinancials Equities, Canada Equities
95
17.94%
1.43BApr 2010HMAX.TO vs FIE.TO
ZWC.TO
BMO CA High Dividend Covered Call ETFDerivative Income
96
15.08%
2.45BFeb 2017HMAX.TO vs ZWC.TO
XEQT.TO
iShares Core Equity ETF PortfolioGlobal Equities
86
13.38%
20.80BAug 2019HMAX.TO vs XEQT.TO
FTN.TO
Financial 15 Split Corp.
99
50.84%
——HMAX.TO vs FTN.TO
USCL
iShares Climate Conscious & Transition MSCI USA ET...Large Cap Blend Equities
39
6.48%
2.81BJun 2023HMAX.TO vs USCL
ENCC.TO
Global X Canadian Oil and Gas Equity Covered Call ...Derivative Income, Energy Equities
93
31.48%
784.46MApr 2011HMAX.TO vs ENCC.TO
SMAX.TO
Hamilton U.S. Equity YIELD MAXIMIZER ETFDerivative Income
87
14.76%
1.08BOct 2023HMAX.TO vs SMAX.TO
QYLD
Global X NASDAQ 100 Covered Call ETFNasdaq-100, Derivative Income
83
7.67%
8.09BDec 2013HMAX.TO vs QYLD
BKCL.TO
Global X Enhanced Equal Weight Canadian Banks Cove...Financials Equities, Derivative Income
97
29.34%
201.63MJul 2023HMAX.TO vs BKCL.TO
ZWH.TO
BMO US High Dividend Covered Call ETFDerivative Income
86
11.77%
1.13BFeb 2014HMAX.TO vs ZWH.TO
HBNK.TO
Global X Equal Weight Banks Index ETFFinancials Equities, Equal Weight
98
32.74%
—Jul 2023HMAX.TO vs HBNK.TO
HDIVX
Janus Henderson Dividend & Income Builder FundForeign Large Cap Equities
76
19.13%
—Jul 2012HMAX.TO vs HDIVX
TF.TO
Timbercreek Financial Corp.
10
-6.03%
——HMAX.TO vs TF.TO
EMAX.TO
Hamilton Energy YIELD MAXIMIZER ETFEnergy Equities, Derivative Income
80
32.75%
538.30MFeb 2024HMAX.TO vs EMAX.TO

Compare HMAX.TO with Any Fund or Stock

Compare HMAX.TO with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

 

Diversifiers

Pair HMAX.TO with funds that move differently

Hamilton Canadian Financials Yield Maximizer ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to HMAX.TO.

Explore HMAX.TO Diversifiers