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Hamilton U.S. Equity YIELD MAXIMIZER ETF (SMAX.TO)
Performance
Return for Risk
Dividends
Drawdowns
Volatility

Hamilton U.S. Equity YIELD MAXIMIZER ETF (SMAX.TO)

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

SMAX is designed for attractive monthly income, while providing exposure to a portfolio of primarily large-cap U.S. equity securities. To reduce volatility and augment dividend income, SMAX will employ an active covered call strategy.

ETF Info

ISIN
CA4079161051
CUSIP
407916105
Issuer
Hamilton Capital
Inception Date
Oct 25, 2023
Category
Derivative Income
Leveraged
1x (No leverage)
Index Tracked
No Index (Active)
Domicile
Canada
Distribution Policy
Distributing
Asset Class
Equity
Asset Class Size
Large-Cap
Asset Class Style
Blend

Share Price Chart

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Hamilton U.S. Equity YIELD MAXIMIZER ETF

Often compared with SMAX.TO:
SMAX.TO vs. AMAX.TOSMAX.TO vs. QMAX.TOSMAX.TO vs. HDIV.TOSMAX.TO vs. HMAX.TOSMAX.TO vs. HHIS.TOSMAX.TO vs. HYLD.TOSMAX.TO vs. USCL.TOSMAX.TO vs. VFV.TOSMAX.TO vs. JEPQSMAX.TO vs. JEPIMore SMAX.TO alternatives

Performance

Performance Chart

The chart shows the growth of an initial investment of CA$10,000 in Hamilton U.S. Equity 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

SMAX.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 U.S. Equity YIELD MAXIMIZER ETF (SMAX.TO) has returned -2.43% so far this year and 19.84% over the past 12 months.

Hamilton U.S. Equity YIELD MAXIMIZER ETF

1D
1.72%
1M
-2.84%
YTD
-2.43%
6M
1.69%
1Y
19.84%
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 Oct 26, 2023, SMAX.TO's average daily return is +0.10%, while the average monthly return is +1.94%. At this rate, your investment would double in approximately 3.0 years.

Historically, 80% of months were positive and 20% were negative. The best month was Sep 2025 with a return of +7.2%, while the worst month was Apr 2025 at -5.1%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 3 months.

On a daily basis, SMAX.TO closed higher 57% of trading days. The best single day was Apr 9, 2025 with a return of +7.9%, while the worst single day was Apr 3, 2025 at -5.5%.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
20260.17%0.25%-2.84%-2.43%
20254.84%-3.28%-4.76%-5.12%5.54%4.20%4.02%1.35%7.15%5.89%0.13%-1.70%18.64%
20243.99%6.70%2.08%-1.47%2.84%4.48%2.98%1.03%3.11%1.40%7.15%0.29%40.16%
20231.52%4.65%1.64%7.98%

Benchmark Metrics

Hamilton U.S. Equity YIELD MAXIMIZER ETF has an annualized alpha of 4.70%, beta of 0.90, and R² of 0.86 versus S&P 500 Index. Calculated based on daily prices since October 27, 2023.

  • This ETF captured 103.72% of S&P 500 Index gains but only 81.66% of its losses — a favorable profile for investors.
  • This ETF generated an annualized alpha of 4.70% versus S&P 500 Index — delivering returns beyond what market exposure alone would predict.
  • With beta of 0.90 and R² of 0.86, this ETF moves broadly in line with S&P 500 Index — much of its variation is explained by market exposure rather than independent behavior.
Alpha
4.70%
Beta
0.90
R²
0.86
Upside Capture
103.72%
Downside Capture
81.66%

Expense Ratio

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

Return for Risk

Risk / Return Rank

SMAX.TO ranks 68 for risk / return — better than 68% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.

SMAX.TO Risk / Return Rank: 6868
Overall Rank
SMAX.TO Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
SMAX.TO Sortino Ratio Rank: 6363
Sortino Ratio Rank
SMAX.TO Omega Ratio Rank: 6969
Omega Ratio Rank
SMAX.TO Calmar Ratio Rank: 7171
Calmar Ratio Rank
SMAX.TO Martin Ratio Rank: 7070
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 U.S. Equity YIELD MAXIMIZER ETF (SMAX.TO) and compare them to a chosen benchmark (S&P 500 Index).

SMAX.TOBenchmarkDifference

Sharpe ratio

Return per unit of total volatility

1.16

0.69

+0.47

Sortino ratio

Return per unit of downside risk

1.66

1.06

+0.60

Omega ratio

Gain probability vs. loss probability

1.26

1.17

+0.10

Calmar ratio

Return relative to maximum drawdown

1.89

1.14

+0.75

Martin ratio

Return relative to average drawdown

7.54

4.22

+3.32

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 SMAX.TO risk-adjusted metrics in detail

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

SMAX.TO Sortino RatioSMAX.TO Sharpe Ratio

Dividends

Dividend History

Hamilton U.S. Equity YIELD MAXIMIZER ETF provided a 14.11% dividend yield over the last twelve months, with an annual payout of CA$2.75 per share. The fund has been increasing its distributions for 2 consecutive years.

2.00%4.00%6.00%8.00%10.00%12.00%14.00%CA$0.00CA$0.50CA$1.00CA$1.50CA$2.00CA$2.50CA$3.00CA$3.50202320242025
Dividends
Dividend Yield
PeriodTTM202520242023
DividendCA$2.75CA$3.01CA$2.79CA$0.43

Dividend yield

14.11%14.67%13.88%2.57%

Monthly Dividends

The table displays the monthly dividend distributions for Hamilton U.S. Equity YIELD MAXIMIZER ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
2026CA$0.25CA$0.25CA$0.00CA$0.50
2025CA$0.25CA$0.25CA$0.25CA$0.24CA$0.24CA$0.24CA$0.25CA$0.25CA$0.25CA$0.26CA$0.26CA$0.25CA$3.01
2024CA$0.22CA$0.22CA$0.22CA$0.23CA$0.23CA$0.24CA$0.24CA$0.23CA$0.23CA$0.24CA$0.24CA$0.25CA$2.79
2023CA$0.22CA$0.21CA$0.43

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 U.S. Equity 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 U.S. Equity YIELD MAXIMIZER ETF was 18.22%, occurring on Apr 21, 2025. Recovery took 80 trading sessions.

The current Hamilton U.S. Equity YIELD MAXIMIZER ETF drawdown is 4.81%.

Depth

Start

To Bottom

Bottom

To Recover

End

Total

-18.22%Feb 3, 202554Apr 21, 202580Aug 14, 2025134
-6.42%Jan 19, 202650Mar 30, 2026———
-6.29%Jul 17, 202415Aug 7, 20248Aug 19, 202423
-4.54%Apr 12, 20246Apr 19, 202412May 7, 202418
-3.87%Nov 4, 202514Nov 21, 202533Jan 12, 202647

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.

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