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EMAX.TO vs. NRGY.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EMAX.TO vs. NRGY.TO

Last updated Jul 15, 2026
Documentation

EMAX.TO (Hamilton Energy YIELD MAXIMIZER ETF) and NRGY.TO (Global X Equal Weight Canadian Oil & Gas Index ETF) are both Energy Equities funds. EMAX.TO is actively managed, while NRGY.TO is passively managed. Over the past year, EMAX.TO returned 35.83% vs 48.22% for NRGY.TO. A 0.76 correlation means they provide meaningful diversification when combined. EMAX.TO charges 0.65%/yr vs 0.49%/yr for NRGY.TO.

Performance

EMAX.TO vs. NRGY.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Hamilton Energy YIELD MAXIMIZER ETF (EMAX.TO) and Global X Equal Weight Canadian Oil & Gas Index ETF (NRGY.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EMAX.TO achieves a 27.45% return, which is significantly lower than NRGY.TO's 35.97% return.

EMAX.TO

1D
-0.36%
1M
0.05%
6M
21.90%
YTD
27.45%
1Y
35.83%
3Y*
—
5Y*
—
10Y*
—

NRGY.TO

1D
-0.66%
1M
-0.39%
6M
35.46%
YTD
35.97%
1Y
48.22%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

EMAX.TO vs. NRGY.TO - Yearly Performance Comparison

2026 (YTD)20252024
EMAX.TO
Hamilton Energy YIELD MAXIMIZER ETF		27.45%4.63%-4.45%
NRGY.TO
Global X Equal Weight Canadian Oil & Gas Index ETF		35.97%14.36%-2.64%

Correlation

The correlation between EMAX.TO and NRGY.TO is 0.78, 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

0.78

Correlation (All Time)
Calculated using the full available price history since Nov 8, 2024

0.76

The correlation between EMAX.TO and NRGY.TO has been stable across timeframes, ranging from 0.76 to 0.78 - a consistent structural relationship.

EMAX.TO vs. NRGY.TO - Sectors Allocation Comparison

Sectors
EMAX.TO
NRGY.TO

Energy

100.0%
100.0%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Financial Services

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Energy

EMAX.TO
100.0%
NRGY.TO
100.0%

Basic Materials

EMAX.TO

-

NRGY.TO

-

Communication Services

EMAX.TO

-

NRGY.TO

-

Consumer Cyclical

EMAX.TO

-

NRGY.TO

-

Consumer Defensive

EMAX.TO

-

NRGY.TO

-

Financial Services

EMAX.TO

-

NRGY.TO

-

Healthcare

EMAX.TO

-

NRGY.TO

-

Industrials

EMAX.TO

-

NRGY.TO

-

Real Estate

EMAX.TO

-

NRGY.TO

-

Technology

EMAX.TO

-

NRGY.TO

-

Utilities

EMAX.TO

-

NRGY.TO

-

Compare stocks, funds, or ETFs

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Hamilton Energy YIELD MAXIMIZER ETF

Global X Equal Weight Canadian Oil & Gas Index ETF

Often compared with EMAX.TO:
EMAX.TO vs. ENCC.TOEMAX.TO vs. HMAX.TOEMAX.TO vs. QMAX.TOEMAX.TO vs. HDIV.TOEMAX.TO vs. XEG.TOEMAX.TO vs. GLCC.TOEMAX.TO vs. UMAX.TO
Often compared with NRGY.TO:
NRGY.TO vs. ZEO.TONRGY.TO vs. CPCC.TONRGY.TO vs. COPP.TONRGY.TO vs. VDENRGY.TO vs. GLDX.TONRGY.TO vs. HLIT.TONRGY.TO vs. XEG.TO

Return for Risk

EMAX.TO vs. NRGY.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EMAX.TO
EMAX.TO Risk / Return Rank: 6464
Overall Rank
EMAX.TO Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
EMAX.TO Sortino Ratio Rank: 6565
Sortino Ratio Rank
EMAX.TO Omega Ratio Rank: 6161
Omega Ratio Rank
EMAX.TO Calmar Ratio Rank: 7272
Calmar Ratio Rank
EMAX.TO Martin Ratio Rank: 5454
Martin Ratio Rank
NRGY.TO
NRGY.TO Risk / Return Rank: 9191
Overall Rank
NRGY.TO Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
NRGY.TO Sortino Ratio Rank: 9292
Sortino Ratio Rank
NRGY.TO Omega Ratio Rank: 9090
Omega Ratio Rank
NRGY.TO Calmar Ratio Rank: 9292
Calmar Ratio Rank
NRGY.TO Martin Ratio Rank: 8686
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.

EMAX.TO vs. NRGY.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hamilton Energy YIELD MAXIMIZER ETF (EMAX.TO) and Global X Equal Weight Canadian Oil & Gas Index ETF (NRGY.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

EMAX.TONRGY.TODifference
Sharpe ratioReturn per unit of total volatility
1.80
2.69

-0.89

Sortino ratioReturn per unit of downside risk
2.40
3.53

-1.14

Omega ratioGain probability vs. loss probability

1.29

1.45

-0.16

Calmar ratioReturn relative to maximum drawdown

2.91

4.82

-1.91

Martin ratioReturn relative to average drawdown

7.48

13.80

-6.33

EMAX.TO vs. NRGY.TO - Sharpe Ratio Comparison

The current EMAX.TO Sharpe Ratio is 1.80, which is lower than the NRGY.TO Sharpe Ratio of 2.69. The chart below compares the historical Sharpe Ratios of EMAX.TO and NRGY.TO, 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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Drawdowns

EMAX.TO vs. NRGY.TO - Drawdown Comparison

The maximum EMAX.TO drawdown since its inception was -27.55%, which is greater than NRGY.TO's maximum drawdown of -16.59%. Use the drawdown chart below to compare losses from any high point for EMAX.TO and NRGY.TO.

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Drawdown Indicators

EMAX.TONRGY.TODifference

Max Drawdown

Largest peak-to-trough decline

-27.55%

-16.59%

-10.96%

Max Drawdown (1Y)

Largest decline over 1 year

-12.39%

-10.16%

-2.23%

Current Drawdown

Current decline from peak

-6.16%

-4.09%

-2.07%

Average Drawdown

Average peak-to-trough decline

-9.27%

-3.75%

-5.52%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.82%

3.53%

+1.29%

Volatility

EMAX.TO vs. NRGY.TO - Volatility Comparison

The current volatility for Hamilton Energy YIELD MAXIMIZER ETF (EMAX.TO) is 6.40%, while Global X Equal Weight Canadian Oil & Gas Index ETF (NRGY.TO) has a volatility of 7.16%. This indicates that EMAX.TO experiences smaller price fluctuations and is considered to be less risky than NRGY.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EMAX.TONRGY.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.40%

7.16%

-0.76%

Volatility (6M)

Calculated over the trailing 6-month period

15.67%

15.07%

+0.60%

Volatility (1Y)

Calculated over the trailing 1-year period

20.06%

18.23%

+1.83%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.38%

19.91%

+2.47%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.38%

19.91%

+2.47%

EMAX.TO vs. NRGY.TO - Expense Ratio Comparison

EMAX.TO has a 0.65% expense ratio, which is higher than NRGY.TO's 0.49% expense ratio.

Dividends

EMAX.TO vs. NRGY.TO - Dividend Comparison

EMAX.TO's dividend yield for the trailing twelve months is around 10.52%, more than NRGY.TO's 3.15% yield.

PositionTTM20252024
EMAX.TO
Hamilton Energy YIELD MAXIMIZER ETF		10.52%13.44%12.31%
NRGY.TO
Global X Equal Weight Canadian Oil & Gas Index ETF		3.15%3.87%0.56%

Frequently Asked Questions

EMAX.TO and NRGY.TO have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, NRGY.TO is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

NRGY.TO is cheaper with a 0.49% expense ratio, compared with 0.65% for EMAX.TO.

They also come from different issuers: Hamilton Capital and Global X. Their fees differ too: 0.65% for EMAX.TO and 0.49% for NRGY.TO.

Portfolio Optimizer

Find the right allocation for EMAX.TO and NRGY.TO

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