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BMAX.TO vs. RULE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BMAX.TO vs. RULE

Last updated Jun 4, 2026

BMAX.TO (Brompton Enhanced Multi-Asset Income ETF) and RULE (Adaptive Core ETF) are both Diversified Portfolio funds. Over the past 3 years, BMAX.TO returned 18.63%/yr vs 21.78%/yr for RULE. At a 0.47 correlation, their price movements are largely independent. BMAX.TO charges 2.62%/yr vs 1.10%/yr for RULE.

Performance

BMAX.TO vs. RULE - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Brompton Enhanced Multi-Asset Income ETF (BMAX.TO) and Adaptive Core ETF (RULE). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, BMAX.TO achieves a 9.27% return, which is significantly lower than RULE's 47.24% return.

BMAX.TO

1D
-0.03%
1M
4.64%
YTD
9.27%
6M
9.79%
1Y
22.18%
3Y*
18.63%
5Y*
—
10Y*
—

RULE

1D
1.08%
1M
24.02%
YTD
47.24%
6M
45.30%
1Y
54.15%
3Y*
21.78%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

BMAX.TO vs. RULE - Yearly Performance Comparison

2026 (YTD)2025202420232022
BMAX.TO
Brompton Enhanced Multi-Asset Income ETF		9.27%17.88%19.42%11.56%6.10%
RULE
Adaptive Core ETF		47.24%-0.20%16.83%3.95%-1.13%

Correlation

The correlation between BMAX.TO and RULE is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.71

Correlation (3Y)
Calculated over the trailing 3-year period

0.62

Correlation (All Time)
Calculated using the full available price history since Oct 21, 2022

0.47

Over the past year, BMAX.TO and RULE have become more correlated (0.71) than their long-term average of 0.47, meaning their price movements have been converging.

BMAX.TO vs. RULE - Sectors Allocation Comparison

Sectors
BMAX.TO
RULE

Financial Services

24.1%
5.7%

Technology

18.8%
54.4%

Healthcare

17.0%
6.4%

Industrials

13.0%
13.2%

Energy

7.0%
2.4%

Consumer Defensive

4.9%
0.8%

Utilities

4.4%
0.0%

Communication Services

4.3%
5.0%

Basic Materials

2.6%
9.0%

Consumer Cyclical

2.6%
3.2%

Real Estate

1.3%
0.0%

Financial Services

BMAX.TO
24.1%
RULE
5.7%

Technology

BMAX.TO
18.8%
RULE
54.4%

Healthcare

BMAX.TO
17.0%
RULE
6.4%

Industrials

BMAX.TO
13.0%
RULE
13.2%

Energy

BMAX.TO
7.0%
RULE
2.4%

Consumer Defensive

BMAX.TO
4.9%
RULE
0.8%

Utilities

BMAX.TO
4.4%
RULE
0.0%

Communication Services

BMAX.TO
4.3%
RULE
5.0%

Basic Materials

BMAX.TO
2.6%
RULE
9.0%

Consumer Cyclical

BMAX.TO
2.6%
RULE
3.2%

Real Estate

BMAX.TO
1.3%
RULE
0.0%

Compare stocks, funds, or ETFs

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Brompton Enhanced Multi-Asset Income ETF

Adaptive Core ETF

Often compared with BMAX.TO:
BMAX.TO vs. HDIV.TOBMAX.TO vs. UTES.TOBMAX.TO vs. ZWQT.TOBMAX.TO vs. CLSA.TOBMAX.TO vs. BANK.TOBMAX.TO vs. HUTE.TOBMAX.TO vs. HDIF.TO
Often compared with RULE:
RULE vs. GAARULE vs. AOARULE vs. TSPXRULE vs. PBLRULE vs. HNDLRULE vs. AVMARULE vs. RAA

Return for Risk

BMAX.TO vs. RULE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BMAX.TO
BMAX.TO Risk / Return Rank: 5959
Overall Rank
BMAX.TO Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
BMAX.TO Sortino Ratio Rank: 6363
Sortino Ratio Rank
BMAX.TO Omega Ratio Rank: 6262
Omega Ratio Rank
BMAX.TO Calmar Ratio Rank: 4848
Calmar Ratio Rank
BMAX.TO Martin Ratio Rank: 5959
Martin Ratio Rank
RULE
RULE Risk / Return Rank: 7979
Overall Rank
RULE Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
RULE Sortino Ratio Rank: 7777
Sortino Ratio Rank
RULE Omega Ratio Rank: 7676
Omega Ratio Rank
RULE Calmar Ratio Rank: 8080
Calmar Ratio Rank
RULE Martin Ratio Rank: 8383
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.

BMAX.TO vs. RULE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brompton Enhanced Multi-Asset Income ETF (BMAX.TO) and Adaptive Core ETF (RULE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

BMAX.TORULEDifference
Sharpe ratioReturn per unit of total volatility
2.10
2.74

-0.64

Sortino ratioReturn per unit of downside risk
3.01
3.72

-0.72

Omega ratioGain probability vs. loss probability

1.38

1.48

-0.10

Calmar ratioReturn relative to maximum drawdown

2.38

4.92

-2.54

Martin ratioReturn relative to average drawdown

10.46

18.55

-8.09

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

BMAX.TO vs. RULE - Sharpe Ratio Comparison

The current BMAX.TO Sharpe Ratio is 2.10, which is comparable to the RULE Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of BMAX.TO and RULE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

BMAX.TORULEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.10

2.74

-0.64

Sharpe Ratio (All Time)

Calculated using the full available price history

1.38

0.67

+0.71

Drawdowns

BMAX.TO vs. RULE - Drawdown Comparison

The maximum BMAX.TO drawdown since its inception was -15.42%, smaller than the maximum RULE drawdown of -24.49%. Use the drawdown chart below to compare losses from any high point for BMAX.TO and RULE.

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Drawdown Indicators

BMAX.TORULEDifference

Max Drawdown

Largest peak-to-trough decline

-15.42%

-24.49%

+9.07%

Max Drawdown (1Y)

Largest decline over 1 year

-9.35%

-11.06%

+1.71%

Max Drawdown (3Y)

Largest decline over 3 years

-15.42%

-19.42%

+4.00%

Current Drawdown

Current decline from peak

-0.96%

0.00%

-0.96%

Average Drawdown

Average peak-to-trough decline

-1.90%

-11.29%

+9.39%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.13%

2.93%

-0.80%

Volatility

BMAX.TO vs. RULE - Volatility Comparison

The current volatility for Brompton Enhanced Multi-Asset Income ETF (BMAX.TO) is 3.27%, while Adaptive Core ETF (RULE) has a volatility of 9.56%. This indicates that BMAX.TO experiences smaller price fluctuations and is considered to be less risky than RULE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BMAX.TORULEDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.27%

9.56%

-6.29%

Volatility (6M)

Calculated over the trailing 6-month period

8.81%

17.15%

-8.34%

Volatility (1Y)

Calculated over the trailing 1-year period

10.62%

19.90%

-9.28%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.13%

14.50%

-1.37%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.13%

14.50%

-1.37%

BMAX.TO vs. RULE - Expense Ratio Comparison

BMAX.TO has a 2.62% expense ratio, which is higher than RULE's 1.10% expense ratio.

Dividends

BMAX.TO vs. RULE - Dividend Comparison

BMAX.TO's dividend yield for the trailing twelve months is around 9.59%, while RULE has not paid dividends to shareholders.

PositionTTM2025202420232022
BMAX.TO
Brompton Enhanced Multi-Asset Income ETF		9.59%9.70%9.64%9.55%2.41%
RULE
Adaptive Core ETF		0.00%0.00%0.00%2.01%0.01%

Frequently Asked Questions

BMAX.TO and RULE have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, RULE is cheaper at 1.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

RULE is cheaper with a 1.10% expense ratio, compared with 2.62% for BMAX.TO.

They also come from different issuers: Brompton Funds and Mohr Funds. Their fees differ too: 2.62% for BMAX.TO and 1.10% for RULE.

Portfolio Optimizer

Find the right allocation for BMAX.TO and RULE

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