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Hamilton Technology YIELD MAXIMIZER ETF (QMAX.TO) Diversifiers

ETF · Currency in CAD · Last updated Jun 4, 2026

QMAX aims to provide attractive monthly income through a portfolio focused on large-cap U.S. technology equities, employing an active covered call strategy to reduce volatility and enhance dividend income.

Looking to diversify beyond QMAX.TO? The ETFs below have the lowest correlation with QMAX.TO — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from QMAX.TO.

Best Diversifiers for QMAX.TO

14 ETFs have low correlation with QMAX.TO (below 0.3), 6 of which are negatively correlated.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
ZWU.TO
BMO Covered Call Utilities ETF-0.25——
58
Utilities Equities, Derivative IncomeQMAX.TO vs ZWU.TO
ENCL.TO
Global X Enhanced Canadian Oil and Gas Equity Cove...-0.19——
85
Oil & Gas, Derivative IncomeQMAX.TO vs ENCL.TO
ENCC.TO
Global X Canadian Oil and Gas Equity Covered Call ...-0.18——
85
Derivative Income, Energy EquitiesQMAX.TO vs ENCC.TO
UMAX.TO
Hamilton Utilities YIELD MAXIMIZER ETF-0.18——
58
Derivative Income, Utilities EquitiesQMAX.TO vs UMAX.TO
CASH.TO
Global X High Interest Savings ETF-0.07——
100
Money MarketQMAX.TO vs CASH.TO
See all 56 diversifiers for QMAX.TO

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from QMAX.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to QMAX.TO and solid risk/return profiles. The least correlated is Enbridge Inc. (ENB.TO) (Energy) with a 1Y correlation of -0.26, down from -0.09 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
ENB.TO
Enbridge Inc.-0.26-0.09-0.09
81
Energy
BEP-UN.TO
Brookfield Renewable Partners L.P0.280.210.21
85
Utilities

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Diversification Analysis

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