HFG.TO vs. LMAX.TO
HFG.TO (Hamilton Global Financials ETF) and LMAX.TO (Hamilton Healthcare Yield Maximizer ETF) are both exchange-traded funds - HFG.TO is a Financials Equities fund actively managed by Hamilton, while LMAX.TO is a Health & Biotech Equities fund actively managed by Hamilton. Both are actively managed. Over the past year, HFG.TO returned 17.10% vs 14.87% for LMAX.TO. At a 0.24 correlation, their price movements are largely independent.
Performance
HFG.TO vs. LMAX.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HFG.TO achieves a 7.76% return, which is significantly higher than LMAX.TO's 2.13% return.
HFG.TO
- 1D
- 0.32%
- 1M
- 6.00%
- 6M
- 7.83%
- YTD
- 7.76%
- 1Y
- 17.10%
- 3Y*
- 25.28%
- 5Y*
- 15.43%
- 10Y*
- —
LMAX.TO
- 1D
- 0.00%
- 1M
- 3.21%
- 6M
- -0.53%
- YTD
- 2.13%
- 1Y
- 14.87%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HFG.TO vs. LMAX.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HFG.TO Hamilton Global Financials ETF | 7.76% | 22.93% | 30.03% |
LMAX.TO Hamilton Healthcare Yield Maximizer ETF | 2.13% | 7.07% | 4.45% |
Correlation
The correlation between HFG.TO and LMAX.TO is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2024 | 0.24 |
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Return for Risk
HFG.TO vs. LMAX.TO — Risk / Return Rank
HFG.TO
LMAX.TO
HFG.TO vs. LMAX.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hamilton Global Financials ETF (HFG.TO) and Hamilton Healthcare Yield Maximizer ETF (LMAX.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.
| HFG.TO | LMAX.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.19 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.57 | 1.23 | +0.34 |
| Martin ratioReturn relative to average drawdown | 4.96 | 2.89 | +2.07 |
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Drawdowns
HFG.TO vs. LMAX.TO - Drawdown Comparison
The maximum HFG.TO drawdown since its inception was -42.71%, which is greater than LMAX.TO's maximum drawdown of -15.89%. Use the drawdown chart below to compare losses from any high point for HFG.TO and LMAX.TO.
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Drawdown Indicators
| HFG.TO | LMAX.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.71% | -15.89% | -26.82% |
Max Drawdown (1Y)Largest decline over 1 year | -10.95% | -12.16% | +1.21% |
Max Drawdown (3Y)Largest decline over 3 years | -13.64% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -20.20% | — | — |
Current DrawdownCurrent decline from peak | -0.54% | -3.47% | +2.93% |
Average DrawdownAverage peak-to-trough decline | -5.38% | -5.15% | -0.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.46% | 5.16% | -1.70% |
Volatility
HFG.TO vs. LMAX.TO - Volatility Comparison
The current volatility for Hamilton Global Financials ETF (HFG.TO) is 3.60%, while Hamilton Healthcare Yield Maximizer ETF (LMAX.TO) has a volatility of 5.04%. This indicates that HFG.TO experiences smaller price fluctuations and is considered to be less risky than LMAX.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HFG.TO | LMAX.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.60% | 5.04% | -1.44% |
Volatility (6M)Calculated over the trailing 6-month period | 10.69% | 10.43% | +0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.10% | 14.24% | -1.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.03% | 13.89% | +2.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.26% | 13.89% | +6.37% |
Dividends
HFG.TO vs. LMAX.TO - Dividend Comparison
HFG.TO's dividend yield for the trailing twelve months is around 2.40%, less than LMAX.TO's 12.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
HFG.TO Hamilton Global Financials ETF | 2.40% | 2.55% | 3.05% | 3.86% | 10.09% | 4.16% | 1.85% |
LMAX.TO Hamilton Healthcare Yield Maximizer ETF | 12.57% | 12.51% | 11.35% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HFG.TO and LMAX.TO have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HFG.TO is categorized as Financials Equities, while LMAX.TO is Health & Biotech Equities.
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