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Hamilton Healthcare Yield Maximizer ETF (LMAX.TO)
Performance
Return for Risk
Dividends
Drawdowns
Volatility

Hamilton Healthcare Yield Maximizer ETF (LMAX.TO)

ETF · Currency in CAD · Last updated Apr 1, 2026

The Hamilton Healthcare YIELD MAXIMIZER™ ETF (LMAX) aims to provide attractive monthly income by investing in an equal-weighted portfolio of primarily U.S. large-cap healthcare companies. To enhance income and reduce volatility, LMAX employs an active covered call strategy.

ETF Info

Issuer
Hamilton
Inception Date
Feb 6, 2024
Category
Health & Biotech Equities
Leveraged
1x (No leverage)
Index Tracked
No Index (Active)
Distribution Policy
Distributing
Asset Class
Equity
Asset Class Size
Large-Cap
Asset Class Style
Value

Share Price Chart

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Hamilton Healthcare Yield Maximizer ETF

Often compared with LMAX.TO:
LMAX.TO vs. HYLD-U.TOLMAX.TO vs. HBA.TOLMAX.TO vs. FMAX.TOLMAX.TO vs. ZUH.TOLMAX.TO vs. HEB.TOLMAX.TO vs. HHL.TOLMAX.TO vs. MIX.TOLMAX.TO vs. CWIN.TOLMAX.TO vs. HHLE.TOLMAX.TO vs. HCA.TOMore LMAX.TO alternatives

Performance

Performance Chart

The chart shows the growth of an initial investment of CA$10,000 in Hamilton Healthcare Yield Maximizer ETF, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

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S&P 500 Index

Different Benchmark Currency

LMAX.TO is traded in CAD, while the ^GSPC benchmark is in USD. To make them comparable, the benchmark values have been converted to CAD using the latest available exchange rates.

Returns By Period

Hamilton Healthcare Yield Maximizer ETF (LMAX.TO) has returned -3.55% so far this year and -3.87% over the past 12 months.

Hamilton Healthcare Yield Maximizer ETF

1D
0.30%
1M
-6.57%
YTD
-3.55%
6M
3.86%
1Y
-3.87%
3Y*
—
5Y*
—
10Y*
—

Benchmark (S&P 500 Index)

1D
2.80%
1M
-3.22%
YTD
-3.34%
6M
-2.48%
1Y
12.46%
3Y*
17.80%
5Y*
12.48%
10Y*
12.91%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Monthly Returns

Based on dividend-adjusted daily data since Feb 7, 2024, LMAX.TO's average daily return is +0.02%, while the average monthly return is +0.38%. At this rate, your investment would double in approximately 15.2 years.

Historically, 58% of months were positive and 42% were negative. The best month was Jan 2025 with a return of +7.6%, while the worst month was Apr 2025 at -7.6%. The longest winning streak lasted 4 consecutive months, and the longest losing streak was 3 months.

On a daily basis, LMAX.TO closed higher 53% of trading days. The best single day was Apr 9, 2025 with a return of +4.4%, while the worst single day was Apr 4, 2025 at -4.4%.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
2026-0.56%3.80%-6.57%-3.55%
20257.63%1.30%-1.50%-7.56%-4.52%1.00%-1.80%3.71%1.96%3.77%7.56%-3.51%7.03%
20240.91%2.44%-3.11%1.04%2.04%3.54%1.97%-1.05%-0.54%1.38%-3.57%4.91%

Benchmark Metrics

Hamilton Healthcare Yield Maximizer ETF has an annualized alpha of -4.03%, beta of 0.45, and R² of 0.26 versus S&P 500 Index. Calculated based on daily prices since February 08, 2024.

  • This ETF participated in 59.40% of S&P 500 Index downside but only 27.08% of its upside — more exposed to losses than it benefited from rallies.
  • Beta of 0.45 may look defensive, but with R² of 0.26 this ETF is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
  • R² of 0.26 means this ETF moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
Alpha
-4.03%
Beta
0.45
R²
0.26
Upside Capture
27.08%
Downside Capture
59.40%

Expense Ratio

LMAX.TO has an expense ratio of 0.65%, placing it in the medium range.

Return for Risk

Risk / Return Rank

LMAX.TO ranks 8 for risk / return — in the bottom 8% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.

LMAX.TO Risk / Return Rank: 88
Overall Rank
LMAX.TO Sharpe Ratio Rank: 77
Sharpe Ratio Rank
LMAX.TO Sortino Ratio Rank: 77
Sortino Ratio Rank
LMAX.TO Omega Ratio Rank: 77
Omega Ratio Rank
LMAX.TO Calmar Ratio Rank: 99
Calmar Ratio Rank
LMAX.TO Martin Ratio Rank: 99
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

Return / Risk — by metrics

The table below present risk-adjusted performance metrics for Hamilton Healthcare Yield Maximizer ETF (LMAX.TO) and compare them to a chosen benchmark (S&P 500 Index).

LMAX.TOBenchmarkDifference

Sharpe ratio

Return per unit of total volatility

-0.23

0.69

-0.93

Sortino ratio

Return per unit of downside risk

-0.21

1.06

-1.27

Omega ratio

Gain probability vs. loss probability

0.97

1.17

-0.19

Calmar ratio

Return relative to maximum drawdown

-0.19

1.14

-1.33

Martin ratio

Return relative to average drawdown

-0.32

4.22

-4.54

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Explore LMAX.TO risk-adjusted metrics in detail

Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.

LMAX.TO Sortino RatioLMAX.TO Sharpe Ratio

Dividends

Dividend History

Hamilton Healthcare Yield Maximizer ETF provided a 11.91% dividend yield over the last twelve months, with an annual payout of CA$1.60 per share.

11.40%11.60%11.80%12.00%12.20%12.40%12.60%CA$0.00CA$0.50CA$1.00CA$1.5020242025
Dividends
Dividend Yield
PeriodTTM20252024
DividendCA$1.60CA$1.78CA$1.71

Dividend yield

11.91%12.51%11.36%

Monthly Dividends

The table displays the monthly dividend distributions for Hamilton Healthcare Yield Maximizer ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
2026CA$0.14CA$0.15CA$0.00CA$0.29
2025CA$0.16CA$0.16CA$0.16CA$0.15CA$0.15CA$0.15CA$0.15CA$0.14CA$0.14CA$0.14CA$0.14CA$0.14CA$1.78
2024CA$0.15CA$0.15CA$0.16CA$0.16CA$0.16CA$0.16CA$0.16CA$0.16CA$0.16CA$0.16CA$0.16CA$1.71

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

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Worst Drawdowns

The table below displays the maximum drawdowns of the Hamilton Healthcare Yield Maximizer ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Hamilton Healthcare Yield Maximizer ETF was 15.87%, occurring on Aug 7, 2025. Recovery took 76 trading sessions.

The current Hamilton Healthcare Yield Maximizer ETF drawdown is 8.34%.

Depth

Start

To Bottom

Bottom

To Recover

End

Total

-15.87%Mar 4, 2025109Aug 7, 202576Nov 25, 2025185
-9.16%Nov 28, 202577Mar 20, 2026———
-5.7%Sep 17, 202467Dec 19, 202422Jan 23, 202589
-4.19%Apr 1, 202413Apr 17, 202436Jun 7, 202449
-4.1%Feb 4, 202510Feb 18, 20258Feb 28, 202518

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.

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