EQCL.TO vs. QMAX.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Global X Enhanced All-Equity Asset Allocation Covered Call ETF CAD (EQCL.TO) and Hamilton Technology YIELD MAXIMIZER ETF (QMAX.TO).

EQCL.TO and QMAX.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EQCL.TO is an actively managed fund by Global X. It was launched on Oct 10, 2023. QMAX.TO is an actively managed fund by Hamilton Capital. It was launched on Oct 25, 2023.

Performance

EQCL.TO vs. QMAX.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Enhanced All-Equity Asset Allocation Covered Call ETF CAD (EQCL.TO) and Hamilton Technology YIELD MAXIMIZER ETF (QMAX.TO). The values are adjusted to include any dividend payments, if applicable.

EQCL.TO vs. QMAX.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EQCL.TO Global X Enhanced All-Equity Asset Allocation Covered Call ETF CAD	-0.76%	16.95%	24.04%	7.95%
QMAX.TO Hamilton Technology YIELD MAXIMIZER ETF	-15.25%	16.57%	37.65%	16.15%

Returns By Period

In the year-to-date period, EQCL.TO achieves a -0.76% return, which is significantly higher than QMAX.TO's -15.25% return.

EQCL.TO

• 1D: 2.42%
• 1M: -5.23%
• YTD: -0.76%
• 6M: 2.69%
• 1Y: 16.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QMAX.TO

• 1D: 3.55%
• 1M: -2.67%
• YTD: -15.25%
• 6M: -14.61%
• 1Y: 12.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EQCL.TO vs. QMAX.TO - Expense Ratio Comparison

EQCL.TO has a 2.20% expense ratio, which is higher than QMAX.TO's 0.65% expense ratio.

EQCL.TO

Global X Enhanced All-Equity Asset Allocation Covered Call ETF CAD

QMAX.TO

Hamilton Technology YIELD MAXIMIZER ETF

Return for Risk

EQCL.TO vs. QMAX.TO — Risk / Return Rank

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

EQCL.TO

EQCL.TO Risk / Return Rank: 52
EQCL.TO Sharpe Ratio Rank: 48
EQCL.TO Sortino Ratio Rank: 49
EQCL.TO Omega Ratio Rank: 58
EQCL.TO Calmar Ratio Rank: 46
EQCL.TO Martin Ratio Rank: 57

QMAX.TO

QMAX.TO Risk / Return Rank: 27
QMAX.TO Sharpe Ratio Rank: 28
QMAX.TO Sortino Ratio Rank: 30
QMAX.TO Omega Ratio Rank: 30
QMAX.TO Calmar Ratio Rank: 26
QMAX.TO Martin Ratio Rank: 24

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.

EQCL.TO vs. QMAX.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Enhanced All-Equity Asset Allocation Covered Call ETF CAD (EQCL.TO) and Hamilton Technology YIELD MAXIMIZER ETF (QMAX.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.

	EQCL.TO	QMAX.TO	Difference
Sharpe ratio Return per unit of total volatility	0.83	0.46	+0.37
Sortino ratio Return per unit of downside risk	1.27	0.83	+0.44
Omega ratio Gain probability vs. loss probability	1.21	1.12	+0.09
Calmar ratio Return relative to maximum drawdown	1.10	0.54	+0.56
Martin ratio Return relative to average drawdown	5.42	1.52	+3.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EQCL.TO vs. QMAX.TO - Sharpe Ratio Comparison

The current EQCL.TO Sharpe Ratio is 0.83, which is higher than the QMAX.TO Sharpe Ratio of 0.46. The chart below compares the historical Sharpe Ratios of EQCL.TO and QMAX.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EQCL.TO	QMAX.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.83	0.46	+0.37
Sharpe Ratio (All Time) Calculated using the full available price history	1.21	0.88	+0.33

Correlation

The correlation between EQCL.TO and QMAX.TO is 0.72, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

EQCL.TO vs. QMAX.TO - Dividend Comparison

EQCL.TO's dividend yield for the trailing twelve months is around 10.88%, less than QMAX.TO's 11.87% yield.

	TTM	2025	2024	2023
EQCL.TO Global X Enhanced All-Equity Asset Allocation Covered Call ETF CAD	10.88%	11.51%	10.96%	2.87%
QMAX.TO Hamilton Technology YIELD MAXIMIZER ETF	11.87%	10.79%	10.90%	2.01%

Drawdowns

EQCL.TO vs. QMAX.TO - Drawdown Comparison

The maximum EQCL.TO drawdown since its inception was -18.97%, smaller than the maximum QMAX.TO drawdown of -26.77%. Use the drawdown chart below to compare losses from any high point for EQCL.TO and QMAX.TO.

Drawdown Indicators

	EQCL.TO	QMAX.TO	Difference
Max Drawdown Largest peak-to-trough decline	-18.97%	-26.77%	+7.80%
Max Drawdown (1Y) Largest decline over 1 year	-15.29%	-22.86%	+7.57%
Current Drawdown Current decline from peak	-5.50%	-20.12%	+14.62%
Average Drawdown Average peak-to-trough decline	-1.69%	-5.29%	+3.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.11%	8.16%	-5.05%

Volatility

EQCL.TO vs. QMAX.TO - Volatility Comparison

Global X Enhanced All-Equity Asset Allocation Covered Call ETF CAD (EQCL.TO) and Hamilton Technology YIELD MAXIMIZER ETF (QMAX.TO) have volatilities of 7.26% and 7.64%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EQCL.TO	QMAX.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.26%	7.64%	-0.38%
Volatility (6M) Calculated over the trailing 6-month period	10.34%	16.03%	-5.69%
Volatility (1Y) Calculated over the trailing 1-year period	19.48%	26.26%	-6.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.05%	23.56%	-8.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.05%	23.56%	-8.51%