GDV.TO vs. UMAX.TO

Last updated Jun 5, 2026

GDV.TO (Global Dividend Growth Split Corp.) is a stock, while UMAX.TO (Hamilton Utilities YIELD MAXIMIZER ETF) is Derivative Income fund actively managed by Hamilton Capital. Over the past year, GDV.TO returned 38.88% vs 14.15% for UMAX.TO. At a 0.31 correlation, their price movements are largely independent.

Performance

GDV.TO vs. UMAX.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global Dividend Growth Split Corp. (GDV.TO) and Hamilton Utilities YIELD MAXIMIZER ETF (UMAX.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GDV.TO achieves a 17.22% return, which is significantly higher than UMAX.TO's 9.02% return.

GDV.TO

• 1D: 0.00%
• 1M: 1.56%
• YTD: 17.22%
• 6M: 19.64%
• 1Y: 38.88%
• 3Y*: 26.22%
• 5Y*: 15.14%
• 10Y*: —

UMAX.TO

• 1D: 0.22%
• 1M: 3.55%
• YTD: 9.02%
• 6M: 8.76%
• 1Y: 14.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GDV.TO vs. UMAX.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GDV.TO Global Dividend Growth Split Corp.	17.22%	19.30%	48.36%	-3.37%
UMAX.TO Hamilton Utilities YIELD MAXIMIZER ETF	9.02%	9.95%	5.97%	0.81%

Correlation

The correlation between GDV.TO and UMAX.TO is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (All Time) Calculated using the full available price history since Jun 16, 2023	0.31

The correlation between GDV.TO and UMAX.TO shifts across timeframes, from 0.20 (1 year) to 0.31 (all time), reflecting how their relationship changes across market environments.

Return for Risk

GDV.TO vs. UMAX.TO — Risk / Return Rank

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

GDV.TO

GDV.TO Risk / Return Rank: 89
GDV.TO Sharpe Ratio Rank: 92
GDV.TO Sortino Ratio Rank: 90
GDV.TO Omega Ratio Rank: 90
GDV.TO Calmar Ratio Rank: 82
GDV.TO Martin Ratio Rank: 91

UMAX.TO

UMAX.TO Risk / Return Rank: 64
UMAX.TO Sharpe Ratio Rank: 65
UMAX.TO Sortino Ratio Rank: 75
UMAX.TO Omega Ratio Rank: 67
UMAX.TO Calmar Ratio Rank: 57
UMAX.TO Martin Ratio Rank: 57

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.

GDV.TO vs. UMAX.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global Dividend Growth Split Corp. (GDV.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.

	GDV.TO	UMAX.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.46	2.14	+0.32
Sortino ratio: Return per unit of downside risk	3.26	3.33	-0.07
Omega ratio: Gain probability vs. loss probability	1.44	1.39	+0.04
Calmar ratio: Return relative to maximum drawdown	2.89	2.78	+0.11
Martin ratio: Return relative to average drawdown	12.82	9.65	+3.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GDV.TO vs. UMAX.TO - Sharpe Ratio Comparison

The current GDV.TO Sharpe Ratio is 2.46, which is comparable to the UMAX.TO Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of GDV.TO and UMAX.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.

Sharpe Ratios by Period

	GDV.TO	UMAX.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.46	2.14	+0.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	1.01	-0.48

Drawdowns

GDV.TO vs. UMAX.TO - Drawdown Comparison

The maximum GDV.TO drawdown since its inception was -58.09%, 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 GDV.TO and UMAX.TO.

Drawdown Indicators

	GDV.TO	UMAX.TO	Difference
Max Drawdown Largest peak-to-trough decline	-58.09%	-10.09%	-48.00%
Max Drawdown (1Y) Largest decline over 1 year	-13.51%	-5.11%	-8.40%
Max Drawdown (3Y) Largest decline over 3 years	-24.30%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.16%	—	—
Current Drawdown Current decline from peak	-1.64%	-0.25%	-1.39%
Average Drawdown Average peak-to-trough decline	-6.67%	-2.05%	-4.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.04%	1.48%	+1.56%

Volatility

GDV.TO vs. UMAX.TO - Volatility Comparison

Global Dividend Growth Split Corp. (GDV.TO) has a higher volatility of 4.13% compared to Hamilton Utilities YIELD MAXIMIZER ETF (UMAX.TO) at 1.92%. This indicates that GDV.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.

Volatility by Period

	GDV.TO	UMAX.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.13%	1.92%	+2.21%
Volatility (6M) Calculated over the trailing 6-month period	13.27%	5.53%	+7.74%
Volatility (1Y) Calculated over the trailing 1-year period	15.87%	6.65%	+9.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.61%	8.67%	+10.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.20%	8.67%	+22.53%

Dividends

GDV.TO vs. UMAX.TO - Dividend Comparison

GDV.TO's dividend yield for the trailing twelve months is around 8.80%, less than UMAX.TO's 13.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
GDV.TO Global Dividend Growth Split Corp.	8.80%	10.41%	11.99%	15.58%	12.90%	11.83%	13.14%	12.30%	9.10%
UMAX.TO Hamilton Utilities YIELD MAXIMIZER ETF	13.97%	14.86%	14.81%	6.96%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GDV.TO and UMAX.TO in my portfolio?

GDV.TO and UMAX.TO have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.