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

ETF · Currency in CAD · Last updated Jul 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.

Looking to diversify beyond SMAX.TO? The ETFs below have the lowest correlation with SMAX.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 SMAX.TO.

Best Diversifiers for SMAX.TO

11 ETFs have low correlation with SMAX.TO (below 0.3), 7 of which are negatively correlated. The least correlated is Evolve Canadian Utilities Enhanced Yield Index Fund ETF (UTES.TO) (Derivative Income) with a 1Y correlation of -0.18, down from -0.01 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
UTES.TO
Evolve Canadian Utilities Enhanced Yield Index Fun...-0.18-0.01-0.01
79
Derivative IncomeSMAX.TO vs UTES.TO
ENCC.TO
Global X Canadian Oil and Gas Equity Covered Call ...-0.120.090.09
78
Derivative Income, Energy EquitiesSMAX.TO vs ENCC.TO
ENCL.TO
Global X Enhanced Canadian Oil and Gas Equity Cove...-0.10——
77
Energy Equities, Derivative IncomeSMAX.TO vs ENCL.TO
HUTS.TO
Hamilton Enhanced Utilities ETF-0.09——
91
Utilities EquitiesSMAX.TO vs HUTS.TO
ZWU.TO
BMO Covered Call Utilities ETF-0.09——
67
Utilities Equities, Derivative IncomeSMAX.TO vs ZWU.TO
See all 47 diversifiers for SMAX.TO

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Diversification Analysis

Build a portfolio that complements SMAX.TO

Add SMAX.TO to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.

Analyze a portfolio with SMAX.TO