HHLE.TO vs. LMAX.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Harvest Healthcare Leaders Enhanced Income ETF - Class A Units (HHLE.TO) and Hamilton Healthcare Yield Maximizer ETF (LMAX.TO).

HHLE.TO and LMAX.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HHLE.TO is an actively managed fund by Harvest. It was launched on Oct 20, 2022. LMAX.TO is an actively managed fund by Hamilton. It was launched on Feb 6, 2024.

Performance

HHLE.TO vs. LMAX.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Harvest Healthcare Leaders Enhanced Income ETF - Class A Units (HHLE.TO) and Hamilton Healthcare Yield Maximizer ETF (LMAX.TO). The values are adjusted to include any dividend payments, if applicable.

HHLE.TO vs. LMAX.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HHLE.TO Harvest Healthcare Leaders Enhanced Income ETF - Class A Units	-9.04%	11.85%	-3.17%
LMAX.TO Hamilton Healthcare Yield Maximizer ETF	-3.55%	7.03%	4.91%

Returns By Period

In the year-to-date period, HHLE.TO achieves a -9.04% return, which is significantly lower than LMAX.TO's -3.55% return.

HHLE.TO

• 1D: 0.98%
• 1M: -10.39%
• YTD: -9.04%
• 6M: 1.48%
• 1Y: -4.53%
• 3Y*: 4.43%
• 5Y*: —
• 10Y*: —

LMAX.TO

• 1D: 0.30%
• 1M: -6.57%
• YTD: -3.55%
• 6M: 3.86%
• 1Y: -3.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HHLE.TO vs. LMAX.TO - Expense Ratio Comparison

HHLE.TO has a 0.85% expense ratio, which is higher than LMAX.TO's 0.65% expense ratio.

HHLE.TO

Harvest Healthcare Leaders Enhanced Income ETF - Class A Units

LMAX.TO

Hamilton Healthcare Yield Maximizer ETF

Return for Risk

HHLE.TO vs. LMAX.TO — Risk / Return Rank

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

HHLE.TO

HHLE.TO Risk / Return Rank: 8
HHLE.TO Sharpe Ratio Rank: 8
HHLE.TO Sortino Ratio Rank: 7
HHLE.TO Omega Ratio Rank: 7
HHLE.TO Calmar Ratio Rank: 8
HHLE.TO Martin Ratio Rank: 8

LMAX.TO

LMAX.TO Risk / Return Rank: 8
LMAX.TO Sharpe Ratio Rank: 7
LMAX.TO Sortino Ratio Rank: 7
LMAX.TO Omega Ratio Rank: 7
LMAX.TO Calmar Ratio Rank: 9
LMAX.TO Martin Ratio Rank: 9

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.

HHLE.TO vs. LMAX.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harvest Healthcare Leaders Enhanced Income ETF - Class A Units (HHLE.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.

	HHLE.TO	LMAX.TO	Difference
Sharpe ratio Return per unit of total volatility	-0.21	-0.23	+0.02
Sortino ratio Return per unit of downside risk	-0.15	-0.21	+0.05
Omega ratio Gain probability vs. loss probability	0.98	0.97	+0.01
Calmar ratio Return relative to maximum drawdown	-0.27	-0.19	-0.09
Martin ratio Return relative to average drawdown	-0.51	-0.32	-0.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HHLE.TO vs. LMAX.TO - Sharpe Ratio Comparison

The current HHLE.TO Sharpe Ratio is -0.21, which is comparable to the LMAX.TO Sharpe Ratio of -0.23. The chart below compares the historical Sharpe Ratios of HHLE.TO and LMAX.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HHLE.TO	LMAX.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.21	-0.23	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.28	+0.05

Correlation

The correlation between HHLE.TO and LMAX.TO is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

HHLE.TO vs. LMAX.TO - Dividend Comparison

HHLE.TO's dividend yield for the trailing twelve months is around 12.36%, more than LMAX.TO's 11.91% yield.

	TTM	2025	2024	2023	2022
HHLE.TO Harvest Healthcare Leaders Enhanced Income ETF - Class A Units	12.36%	12.01%	11.76%	10.81%	1.73%
LMAX.TO Hamilton Healthcare Yield Maximizer ETF	11.91%	12.51%	11.36%	0.00%	0.00%

Drawdowns

HHLE.TO vs. LMAX.TO - Drawdown Comparison

The maximum HHLE.TO drawdown since its inception was -20.60%, which is greater than LMAX.TO's maximum drawdown of -15.87%. Use the drawdown chart below to compare losses from any high point for HHLE.TO and LMAX.TO.

Drawdown Indicators

	HHLE.TO	LMAX.TO	Difference
Max Drawdown Largest peak-to-trough decline	-20.60%	-15.87%	-4.73%
Max Drawdown (1Y) Largest decline over 1 year	-13.62%	-12.62%	-1.00%
Current Drawdown Current decline from peak	-13.04%	-8.34%	-4.70%
Average Drawdown Average peak-to-trough decline	-6.23%	-4.90%	-1.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.29%	8.00%	-0.71%

Volatility

HHLE.TO vs. LMAX.TO - Volatility Comparison

Harvest Healthcare Leaders Enhanced Income ETF - Class A Units (HHLE.TO) has a higher volatility of 5.48% compared to Hamilton Healthcare Yield Maximizer ETF (LMAX.TO) at 3.75%. This indicates that HHLE.TO's price experiences larger fluctuations and is considered to be riskier than LMAX.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HHLE.TO	LMAX.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.48%	3.75%	+1.73%
Volatility (6M) Calculated over the trailing 6-month period	12.51%	9.73%	+2.78%
Volatility (1Y) Calculated over the trailing 1-year period	21.24%	16.63%	+4.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.22%	13.68%	+2.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.22%	13.68%	+2.54%