CNYE.TO vs. HMAX.TO
CNYE.TO (Harvest Coinbase Enhanced High Income Shares ETF) and HMAX.TO (Hamilton Canadian Financials Yield Maximizer ETF) are both Derivative Income funds. Both are actively managed. Over the past year, CNYE.TO returned -44.08% vs 37.32% for HMAX.TO. At a 0.44 correlation, their price movements are largely independent. CNYE.TO charges 0.40%/yr vs 0.65%/yr for HMAX.TO.
Performance
CNYE.TO vs. HMAX.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CNYE.TO achieves a -30.06% return, which is significantly lower than HMAX.TO's 12.57% return.
CNYE.TO
- 1D
- 0.45%
- 1M
- -16.55%
- YTD
- -30.06%
- 6M
- -43.59%
- 1Y
- -44.08%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HMAX.TO
- 1D
- 1.26%
- 1M
- 5.33%
- YTD
- 12.57%
- 6M
- 14.85%
- 1Y
- 37.32%
- 3Y*
- 22.64%
- 5Y*
- —
- 10Y*
- —
CNYE.TO vs. HMAX.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CNYE.TO Harvest Coinbase Enhanced High Income Shares ETF | -30.06% | -14.53% |
HMAX.TO Hamilton Canadian Financials Yield Maximizer ETF | 12.57% | 29.32% |
Correlation
The correlation between CNYE.TO and HMAX.TO is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Mar 6, 2025 | 0.44 |
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Return for Risk
CNYE.TO vs. HMAX.TO — Risk / Return Rank
CNYE.TO
HMAX.TO
CNYE.TO vs. HMAX.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harvest Coinbase Enhanced High Income Shares ETF (CNYE.TO) and Hamilton Canadian Financials Yield Maximizer ETF (HMAX.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.
| CNYE.TO | HMAX.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.32 | ||
| Sortino ratioReturn per unit of downside risk | -5.82 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.71 | -0.77 |
| Calmar ratioReturn relative to maximum drawdown | -0.61 | 5.14 | -5.76 |
| Martin ratioReturn relative to average drawdown | -1.01 | 22.50 | -23.50 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CNYE.TO | HMAX.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.57 | 3.74 | -4.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.41 | 1.57 | -1.98 |
Drawdowns
CNYE.TO vs. HMAX.TO - Drawdown Comparison
The maximum CNYE.TO drawdown since its inception was -72.18%, which is greater than HMAX.TO's maximum drawdown of -15.34%. Use the drawdown chart below to compare losses from any high point for CNYE.TO and HMAX.TO.
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Drawdown Indicators
| CNYE.TO | HMAX.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.18% | -15.34% | -56.84% |
Max Drawdown (1Y)Largest decline over 1 year | -72.18% | -7.29% | -64.89% |
Max Drawdown (3Y)Largest decline over 3 years | — | -12.48% | — |
Current DrawdownCurrent decline from peak | -65.57% | 0.00% | -65.57% |
Average DrawdownAverage peak-to-trough decline | -33.73% | -2.94% | -30.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 43.83% | 1.66% | +42.17% |
Volatility
CNYE.TO vs. HMAX.TO - Volatility Comparison
Harvest Coinbase Enhanced High Income Shares ETF (CNYE.TO) has a higher volatility of 22.11% compared to Hamilton Canadian Financials Yield Maximizer ETF (HMAX.TO) at 3.43%. This indicates that CNYE.TO's price experiences larger fluctuations and is considered to be riskier than HMAX.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNYE.TO | HMAX.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.11% | 3.43% | +18.68% |
Volatility (6M)Calculated over the trailing 6-month period | 57.81% | 8.62% | +49.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 77.13% | 10.02% | +67.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.50% | 11.43% | +71.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 82.50% | 11.43% | +71.07% |
CNYE.TO vs. HMAX.TO - Expense Ratio Comparison
CNYE.TO has a 0.40% expense ratio, which is lower than HMAX.TO's 0.65% expense ratio.
Dividends
CNYE.TO vs. HMAX.TO - Dividend Comparison
CNYE.TO's dividend yield for the trailing twelve months is around 89.78%, more than HMAX.TO's 11.44% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CNYE.TO Harvest Coinbase Enhanced High Income Shares ETF | 89.78% | 48.74% | 0.00% | 0.00% |
HMAX.TO Hamilton Canadian Financials Yield Maximizer ETF | 11.44% | 12.29% | 14.08% | 15.47% |
Frequently Asked Questions
CNYE.TO and HMAX.TO have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CNYE.TO is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CNYE.TO is cheaper with a 0.40% expense ratio, compared with 0.65% for HMAX.TO.
They also come from different issuers: Harvest and Hamilton Capital. Their fees differ too: 0.40% for CNYE.TO and 0.65% for HMAX.TO.
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