FHI.TO vs. UMAX.TO
FHI.TO (CI Health Care Giants Covered Call ETF) and UMAX.TO (Hamilton Utilities YIELD MAXIMIZER ETF) are both Derivative Income funds. Both are actively managed. Over the past 3 years, FHI.TO returned 5.07%/yr vs 7.90%/yr for UMAX.TO. At a 0.41 correlation, their price movements are largely independent.
Performance
FHI.TO vs. UMAX.TO - Performance Comparison
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Returns By Period
In the year-to-date period, FHI.TO achieves a 1.35% return, which is significantly lower than UMAX.TO's 8.12% return.
FHI.TO
- 1D
- -0.93%
- 1M
- 4.19%
- YTD
- 1.35%
- 6M
- 1.26%
- 1Y
- 11.83%
- 3Y*
- 5.07%
- 5Y*
- 5.58%
- 10Y*
- —
UMAX.TO
- 1D
- -1.34%
- 1M
- 0.13%
- YTD
- 8.12%
- 6M
- 8.10%
- 1Y
- 13.59%
- 3Y*
- 7.90%
- 5Y*
- —
- 10Y*
- —
FHI.TO vs. UMAX.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FHI.TO CI Health Care Giants Covered Call ETF | 1.35% | 11.94% | -0.77% | 5.37% |
UMAX.TO Hamilton Utilities YIELD MAXIMIZER ETF | 8.12% | 9.90% | 5.99% | 0.18% |
Correlation
The correlation between FHI.TO and UMAX.TO is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Jun 15, 2023 | 0.41 |
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Return for Risk
FHI.TO vs. UMAX.TO — Risk / Return Rank
FHI.TO
UMAX.TO
FHI.TO vs. UMAX.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Health Care Giants Covered Call ETF (FHI.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.
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.
| FHI.TO | UMAX.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.06 | ||
| Sortino ratioReturn per unit of downside risk | -1.52 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.36 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.34 | 2.67 | -1.33 |
| Martin ratioReturn relative to average drawdown | 3.06 | 9.23 | -6.17 |
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Drawdowns
FHI.TO vs. UMAX.TO - Drawdown Comparison
The maximum FHI.TO drawdown since its inception was -29.85%, 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 FHI.TO and UMAX.TO.
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Drawdown Indicators
| FHI.TO | UMAX.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.85% | -10.09% | -19.76% |
Max Drawdown (1Y)Largest decline over 1 year | -8.87% | -5.11% | -3.76% |
Max Drawdown (3Y)Largest decline over 3 years | -14.43% | -10.09% | -4.34% |
Max Drawdown (5Y)Largest decline over 5 years | -14.43% | — | — |
Current DrawdownCurrent decline from peak | -2.98% | -2.20% | -0.78% |
Average DrawdownAverage peak-to-trough decline | -4.46% | -2.03% | -2.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.87% | 1.48% | +2.39% |
Volatility
FHI.TO vs. UMAX.TO - Volatility Comparison
CI Health Care Giants Covered Call ETF (FHI.TO) has a higher volatility of 4.59% compared to Hamilton Utilities YIELD MAXIMIZER ETF (UMAX.TO) at 2.85%. This indicates that FHI.TO's price experiences larger fluctuations and is considered to be riskier than UMAX.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FHI.TO | UMAX.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.59% | 2.85% | +1.74% |
Volatility (6M)Calculated over the trailing 6-month period | 9.31% | 5.92% | +3.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.41% | 7.01% | +6.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.14% | 8.74% | +5.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.52% | 8.74% | +7.78% |
Dividends
FHI.TO vs. UMAX.TO - Dividend Comparison
FHI.TO's dividend yield for the trailing twelve months is around 7.02%, less than UMAX.TO's 14.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FHI.TO CI Health Care Giants Covered Call ETF | 7.02% | 7.14% | 7.84% | 5.80% | 5.98% | 7.38% | 9.69% | 5.42% | 2.42% |
UMAX.TO Hamilton Utilities YIELD MAXIMIZER ETF | 14.14% | 14.85% | 14.78% | 6.96% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FHI.TO and UMAX.TO have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: CI and Hamilton Capital.
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