FMAX.TO vs. FIE.TO
FMAX.TO (Hamilton U.S. Financials Yield Maximizer ETF) and FIE.TO (iShares Canadian Financial Monthly Income ETF) are both Financials Equities funds. Both are actively managed. Over the past year, FMAX.TO returned 8.52% vs 35.03% for FIE.TO. A 0.58 correlation means they provide meaningful diversification when combined. FMAX.TO charges 1.07%/yr vs 0.74%/yr for FIE.TO.
Performance
FMAX.TO vs. FIE.TO - Performance Comparison
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Returns By Period
In the year-to-date period, FMAX.TO achieves a 1.74% return, which is significantly lower than FIE.TO's 18.97% return.
FMAX.TO
- 1D
- 0.06%
- 1M
- 4.64%
- 6M
- 1.58%
- YTD
- 1.74%
- 1Y
- 8.52%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FIE.TO
- 1D
- 1.31%
- 1M
- 5.54%
- 6M
- 18.02%
- YTD
- 18.97%
- 1Y
- 35.03%
- 3Y*
- 26.36%
- 5Y*
- 14.03%
- 10Y*
- 12.47%
FMAX.TO vs. FIE.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FMAX.TO Hamilton U.S. Financials Yield Maximizer ETF | 1.74% | 7.70% | 33.11% |
FIE.TO iShares Canadian Financial Monthly Income ETF | 18.97% | 24.36% | 25.78% |
Correlation
The correlation between FMAX.TO and FIE.TO is 0.56, 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 | 0.56 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2024 | 0.58 |
The correlation between FMAX.TO and FIE.TO has been stable across timeframes, ranging from 0.56 to 0.58 - a consistent structural relationship.
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Return for Risk
FMAX.TO vs. FIE.TO — Risk / Return Rank
FMAX.TO
FIE.TO
FMAX.TO vs. FIE.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hamilton U.S. Financials Yield Maximizer ETF (FMAX.TO) and iShares Canadian Financial Monthly Income ETF (FIE.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.
| FMAX.TO | FIE.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.25 | ||
| Sortino ratioReturn per unit of downside risk | -4.25 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.75 | -0.64 |
| Calmar ratioReturn relative to maximum drawdown | 0.54 | 4.89 | -4.35 |
| Martin ratioReturn relative to average drawdown | 1.29 | 15.90 | -14.61 |
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Drawdowns
FMAX.TO vs. FIE.TO - Drawdown Comparison
The maximum FMAX.TO drawdown since its inception was -17.84%, smaller than the maximum FIE.TO drawdown of -42.24%. Use the drawdown chart below to compare losses from any high point for FMAX.TO and FIE.TO.
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Drawdown Indicators
| FMAX.TO | FIE.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.84% | -42.24% | +24.40% |
Max Drawdown (1Y)Largest decline over 1 year | -15.83% | -7.19% | -8.64% |
Max Drawdown (3Y)Largest decline over 3 years | — | -10.70% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -22.93% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.24% | — |
Current DrawdownCurrent decline from peak | -1.48% | 0.00% | -1.48% |
Average DrawdownAverage peak-to-trough decline | -4.12% | -4.86% | +0.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.62% | 2.21% | +4.41% |
Volatility
FMAX.TO vs. FIE.TO - Volatility Comparison
Hamilton U.S. Financials Yield Maximizer ETF (FMAX.TO) has a higher volatility of 4.60% compared to iShares Canadian Financial Monthly Income ETF (FIE.TO) at 2.32%. This indicates that FMAX.TO's price experiences larger fluctuations and is considered to be riskier than FIE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMAX.TO | FIE.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.60% | 2.32% | +2.28% |
Volatility (6M)Calculated over the trailing 6-month period | 11.88% | 7.33% | +4.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.89% | 9.22% | +5.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.01% | 10.58% | +5.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.01% | 14.05% | +1.96% |
FMAX.TO vs. FIE.TO - Expense Ratio Comparison
FMAX.TO has a 1.07% expense ratio, which is higher than FIE.TO's 0.74% expense ratio.
Dividends
FMAX.TO vs. FIE.TO - Dividend Comparison
FMAX.TO's dividend yield for the trailing twelve months is around 11.67%, more than FIE.TO's 4.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIE.TO iShares Canadian Financial Monthly Income ETF | 4.19% | 4.94% | 5.83% | 6.98% | 7.31% | 5.92% | 7.10% | 6.65% | 7.38% | 6.28% | 6.59% | 7.43% |
FMAX.TO Hamilton U.S. Financials Yield Maximizer ETF | 11.67% | 11.03% | 9.19% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FMAX.TO and FIE.TO have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FIE.TO is cheaper at 0.74% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FIE.TO is cheaper with a 0.74% expense ratio, compared with 1.07% for FMAX.TO.
They also come from different issuers: Hamilton and iShares. Their fees differ too: 1.07% for FMAX.TO and 0.74% for FIE.TO.
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