CNQE.TO vs. UMAX.TO

Last updated Apr 14, 2026

CNQE.TO (Harvest CNQ Enhanced High Income Shares ETF) and UMAX.TO (Hamilton Utilities YIELD MAXIMIZER ETF) are both Derivative Income funds. Both are actively managed. At 0.14, their price movements are largely independent. CNQE.TO charges 0.40%/yr vs 0.65%/yr for UMAX.TO.

Performance

CNQE.TO vs. UMAX.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Harvest CNQ Enhanced High Income Shares ETF (CNQE.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, CNQE.TO achieves a 38.03% return, which is significantly higher than UMAX.TO's 4.15% return.

CNQE.TO

• 1D: 2.32%
• 1M: -2.57%
• YTD: 38.03%
• 6M: 46.45%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

UMAX.TO

• 1D: 0.00%
• 1M: -2.46%
• YTD: 4.15%
• 6M: 3.98%
• 1Y: 13.89%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

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

	2026 (YTD)	2025
CNQE.TO Harvest CNQ Enhanced High Income Shares ETF	38.03%	13.80%
UMAX.TO Hamilton Utilities YIELD MAXIMIZER ETF	4.15%	1.22%

Correlation

The correlation between CNQE.TO and UMAX.TO is 0.14, 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 22, 2025	0.14

Return for Risk

CNQE.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: 68
UMAX.TO Sharpe Ratio Rank: 60
UMAX.TO Sortino Ratio Rank: 67
UMAX.TO Omega Ratio Rank: 59
UMAX.TO Calmar Ratio Rank: 85
UMAX.TO Martin Ratio Rank: 71

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.

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

This table presents a comparison of risk-adjusted performance metrics for Harvest CNQ Enhanced High Income Shares ETF (CNQE.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

	CNQE.TO	UMAX.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.29	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.39	0.86	+2.53

Drawdowns

CNQE.TO vs. UMAX.TO - Drawdown Comparison

The maximum CNQE.TO drawdown since its inception was -12.39%, which is greater than UMAX.TO's maximum drawdown of -10.09%. Use the drawdown chart below to compare losses from any high point for CNQE.TO and UMAX.TO.

Drawdown Indicators

	CNQE.TO	UMAX.TO	Difference
Max Drawdown Largest peak-to-trough decline	-12.39%	-10.09%	-2.30%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.51%	—
Current Drawdown Current decline from peak	-6.97%	-3.51%	-3.46%
Average Drawdown Average peak-to-trough decline	-2.63%	-2.06%	-0.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.16%	—

Volatility

Volatility by Period

	CNQE.TO	UMAX.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.88%	—
Volatility (6M) Calculated over the trailing 6-month period	—	4.72%	—
Volatility (1Y) Calculated over the trailing 1-year period	31.20%	6.28%	+24.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.20%	8.63%	+22.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.20%	8.63%	+22.57%

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

CNQE.TO has a 0.40% expense ratio, which is lower than UMAX.TO's 0.65% expense ratio.

Dividends

CNQE.TO vs. UMAX.TO - Dividend Comparison

CNQE.TO's dividend yield for the trailing twelve months is around 6.52%, less than UMAX.TO's 14.51% yield.

	TTM	2025	2024	2023
CNQE.TO Harvest CNQ Enhanced High Income Shares ETF	6.52%	4.42%	0.00%	0.00%
UMAX.TO Hamilton Utilities YIELD MAXIMIZER ETF	14.51%	14.86%	14.81%	6.96%