HHIS.TO vs. SMAX.TO
HHIS.TO (Harvest Diversified High Income Shares ETF) and SMAX.TO (Hamilton U.S. Equity YIELD MAXIMIZER ETF) are both Derivative Income funds. Both are actively managed. Over the past year, HHIS.TO returned 32.43% vs 44.38% for SMAX.TO. A 0.77 correlation means they provide meaningful diversification when combined. HHIS.TO charges 0.00%/yr vs 0.65%/yr for SMAX.TO.
Performance
HHIS.TO vs. SMAX.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HHIS.TO achieves a 9.41% return, which is significantly lower than SMAX.TO's 18.79% return.
HHIS.TO
- 1D
- 0.08%
- 1M
- 7.23%
- YTD
- 9.41%
- 6M
- 4.62%
- 1Y
- 32.43%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMAX.TO
- 1D
- 0.31%
- 1M
- 10.49%
- YTD
- 18.79%
- 6M
- 17.56%
- 1Y
- 44.38%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HHIS.TO vs. SMAX.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HHIS.TO Harvest Diversified High Income Shares ETF | 9.41% | 24.40% |
SMAX.TO Hamilton U.S. Equity YIELD MAXIMIZER ETF | 18.79% | 17.64% |
Correlation
The correlation between HHIS.TO and SMAX.TO is 0.74, 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 | 0.74 |
Correlation (All Time) Calculated using the full available price history since Jan 17, 2025 | 0.77 |
The correlation between HHIS.TO and SMAX.TO has been stable across timeframes, ranging from 0.74 to 0.77 - a consistent structural relationship.
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Return for Risk
HHIS.TO vs. SMAX.TO — Risk / Return Rank
HHIS.TO
SMAX.TO
HHIS.TO vs. SMAX.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harvest Diversified High Income Shares ETF (HHIS.TO) and Hamilton U.S. Equity YIELD MAXIMIZER ETF (SMAX.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.
| HHIS.TO | SMAX.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.21 | ||
| Sortino ratioReturn per unit of downside risk | -3.08 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.71 | -0.46 |
| Calmar ratioReturn relative to maximum drawdown | 1.33 | 6.95 | -5.62 |
| Martin ratioReturn relative to average drawdown | 3.32 | 25.77 | -22.45 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HHIS.TO | SMAX.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.40 | 3.61 | -2.21 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.74 | 2.32 | -1.58 |
Drawdowns
HHIS.TO vs. SMAX.TO - Drawdown Comparison
The maximum HHIS.TO drawdown since its inception was -31.83%, which is greater than SMAX.TO's maximum drawdown of -18.22%. Use the drawdown chart below to compare losses from any high point for HHIS.TO and SMAX.TO.
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Drawdown Indicators
| HHIS.TO | SMAX.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.83% | -18.22% | -13.61% |
Max Drawdown (1Y)Largest decline over 1 year | -24.43% | -6.42% | -18.01% |
Current DrawdownCurrent decline from peak | -2.87% | -0.32% | -2.55% |
Average DrawdownAverage peak-to-trough decline | -8.68% | -2.09% | -6.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.80% | 1.73% | +8.07% |
Volatility
HHIS.TO vs. SMAX.TO - Volatility Comparison
Harvest Diversified High Income Shares ETF (HHIS.TO) and Hamilton U.S. Equity YIELD MAXIMIZER ETF (SMAX.TO) have volatilities of 5.52% and 5.51%, 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.
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Volatility by Period
| HHIS.TO | SMAX.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.52% | 5.51% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 16.96% | 9.72% | +7.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.32% | 12.36% | +10.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.73% | 14.62% | +19.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.73% | 14.62% | +19.11% |
HHIS.TO vs. SMAX.TO - Expense Ratio Comparison
HHIS.TO has a 0.00% expense ratio, which is lower than SMAX.TO's 0.65% expense ratio.
Dividends
HHIS.TO vs. SMAX.TO - Dividend Comparison
HHIS.TO's dividend yield for the trailing twelve months is around 26.60%, more than SMAX.TO's 13.36% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
HHIS.TO Harvest Diversified High Income Shares ETF | 26.60% | 22.88% | 0.00% | 0.00% |
SMAX.TO Hamilton U.S. Equity YIELD MAXIMIZER ETF | 13.36% | 14.67% | 13.88% | 2.57% |
Frequently Asked Questions
HHIS.TO and SMAX.TO have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HHIS.TO is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HHIS.TO is cheaper with a 0.00% expense ratio, compared with 0.65% for SMAX.TO.
They also come from different issuers: Harvest and Hamilton Capital. Their fees differ too: 0.00% for HHIS.TO and 0.65% for SMAX.TO.
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