CMAX.TO vs. UMVP.TO

Last updated Jun 5, 2026

CMAX.TO (Hamilton Canadian Equity YIELD MAXIMIZER ETF) and UMVP.TO (Hamilton Champions Utilities Index ETF) are both exchange-traded funds - CMAX.TO is a Derivative Income fund actively managed by Hamilton, while UMVP.TO is a Utilities Equities fund tracking the Solactive Canadian Utility Services High Dividend Index. CMAX.TO is actively managed, while UMVP.TO is passively managed. At a 0.30 correlation, their price movements are largely independent.

Performance

CMAX.TO vs. UMVP.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Hamilton Canadian Equity YIELD MAXIMIZER ETF (CMAX.TO) and Hamilton Champions Utilities Index ETF (UMVP.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CMAX.TO

• 1D: 0.68%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

UMVP.TO

• 1D: 0.61%
• 1M: 4.32%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CMAX.TO vs. UMVP.TO - Yearly Performance Comparison

	2026 (YTD)
CMAX.TO Hamilton Canadian Equity YIELD MAXIMIZER ETF	2.22%
UMVP.TO Hamilton Champions Utilities Index ETF	4.02%

Correlation

The correlation between CMAX.TO and UMVP.TO is 0.30, 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 May 12, 2026	0.30

Return for Risk

CMAX.TO vs. UMVP.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hamilton Canadian Equity YIELD MAXIMIZER ETF (CMAX.TO) and Hamilton Champions Utilities Index ETF (UMVP.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

	CMAX.TO	UMVP.TO	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	4.05	5.24	-1.19

Drawdowns

CMAX.TO vs. UMVP.TO - Drawdown Comparison

The maximum CMAX.TO drawdown since its inception was -1.48%, smaller than the maximum UMVP.TO drawdown of -4.57%. Use the drawdown chart below to compare losses from any high point for CMAX.TO and UMVP.TO.

Drawdown Indicators

	CMAX.TO	UMVP.TO	Difference
Max Drawdown Largest peak-to-trough decline	-1.48%	-4.57%	+3.09%
Current Drawdown Current decline from peak	0.00%	-0.35%	+0.35%
Average Drawdown Average peak-to-trough decline	-0.51%	-0.81%	+0.30%

Volatility

Volatility by Period

	CMAX.TO	UMVP.TO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	9.82%	9.09%	+0.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.82%	9.09%	+0.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.82%	9.09%	+0.73%

Dividends

CMAX.TO vs. UMVP.TO - Dividend Comparison

CMAX.TO's dividend yield for the trailing twelve months is around 0.90%, less than UMVP.TO's 1.43% yield.

Position	TTM
CMAX.TO Hamilton Canadian Equity YIELD MAXIMIZER ETF	0.90%
UMVP.TO Hamilton Champions Utilities Index ETF	1.43%

Frequently Asked Questions

Can I hold both CMAX.TO and UMVP.TO in my portfolio?

CMAX.TO and UMVP.TO have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between CMAX.TO and UMVP.TO?

CMAX.TO is categorized as Derivative Income, while UMVP.TO is Utilities Equities.