CCCB.TO vs. UMAX.TO

Last updated Jun 5, 2026

CCCB.TO (CIBC Canadian Banks Covered Call ETF) and UMAX.TO (Hamilton Utilities YIELD MAXIMIZER ETF) are both Derivative Income funds. Both are actively managed. At a 0.16 correlation, their price movements are largely independent. CCCB.TO charges 0.39%/yr vs 0.65%/yr for UMAX.TO.

Performance

CCCB.TO vs. UMAX.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CIBC Canadian Banks Covered Call ETF (CCCB.TO) and Hamilton Utilities YIELD MAXIMIZER ETF (UMAX.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CCCB.TO achieves a 15.74% return, which is significantly higher than UMAX.TO's 9.02% return.

CCCB.TO

• 1D: 1.24%
• 1M: 4.27%
• YTD: 15.74%
• 6M: 20.61%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

UMAX.TO

• 1D: 0.22%
• 1M: 3.55%
• YTD: 9.02%
• 6M: 8.76%
• 1Y: 14.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CCCB.TO vs. UMAX.TO - Yearly Performance Comparison

	2026 (YTD)	2025
CCCB.TO CIBC Canadian Banks Covered Call ETF	15.74%	21.01%
UMAX.TO Hamilton Utilities YIELD MAXIMIZER ETF	9.02%	1.70%

Correlation

The correlation between CCCB.TO and UMAX.TO is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 26, 2025	0.16

Return for Risk

CCCB.TO vs. UMAX.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

UMAX.TO

UMAX.TO Risk / Return Rank: 64
UMAX.TO Sharpe Ratio Rank: 65
UMAX.TO Sortino Ratio Rank: 75
UMAX.TO Omega Ratio Rank: 67
UMAX.TO Calmar Ratio Rank: 57
UMAX.TO Martin Ratio Rank: 57

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.

CCCB.TO vs. UMAX.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CIBC Canadian Banks Covered Call ETF (CCCB.TO) and Hamilton Utilities YIELD MAXIMIZER ETF (UMAX.TO). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	CCCB.TO	UMAX.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.14	—
Sharpe Ratio (All Time) Calculated using the full available price history	4.21	1.01	+3.21

Drawdowns

CCCB.TO vs. UMAX.TO - Drawdown Comparison

The maximum CCCB.TO drawdown since its inception was -7.92%, smaller than the maximum UMAX.TO drawdown of -10.09%. Use the drawdown chart below to compare losses from any high point for CCCB.TO and UMAX.TO.

Drawdown Indicators

	CCCB.TO	UMAX.TO	Difference
Max Drawdown Largest peak-to-trough decline	-7.92%	-10.09%	+2.17%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.11%	—
Current Drawdown Current decline from peak	-1.35%	-0.25%	-1.10%
Average Drawdown Average peak-to-trough decline	-1.04%	-2.05%	+1.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.48%	—

Volatility

Volatility by Period

	CCCB.TO	UMAX.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.92%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.53%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.06%	6.65%	+6.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.06%	8.67%	+4.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.06%	8.67%	+4.39%

CCCB.TO vs. UMAX.TO - Expense Ratio Comparison

CCCB.TO has a 0.39% expense ratio, which is lower than UMAX.TO's 0.65% expense ratio.

Dividends

CCCB.TO vs. UMAX.TO - Dividend Comparison

CCCB.TO's dividend yield for the trailing twelve months is around 3.97%, less than UMAX.TO's 13.97% yield.

Position	TTM	2025	2024	2023
CCCB.TO CIBC Canadian Banks Covered Call ETF	3.97%	1.93%	0.00%	0.00%
UMAX.TO Hamilton Utilities YIELD MAXIMIZER ETF	13.97%	14.86%	14.81%	6.96%

Frequently Asked Questions

Can I hold both CCCB.TO and UMAX.TO in my portfolio?

CCCB.TO and UMAX.TO have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CCCB.TO or UMAX.TO?

On fees, CCCB.TO is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CCCB.TO or UMAX.TO?

CCCB.TO is cheaper with a 0.39% expense ratio, compared with 0.65% for UMAX.TO.

What is the main difference between CCCB.TO and UMAX.TO?

They also come from different issuers: CIBC and Hamilton Capital. Their fees differ too: 0.39% for CCCB.TO and 0.65% for UMAX.TO.