HMAX.TO vs. JEPI.TO
HMAX.TO (Hamilton Canadian Financials Yield Maximizer ETF) and JEPI.TO (JPMorgan US Equity Premium Income Active ETF) are both Derivative Income funds. Both are actively managed. Over the past year, HMAX.TO returned 42.34% vs 11.74% for JEPI.TO. A 0.54 correlation means they provide meaningful diversification when combined. HMAX.TO charges 0.65%/yr vs 0.35%/yr for JEPI.TO.
Performance
HMAX.TO vs. JEPI.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HMAX.TO achieves a 17.83% return, which is significantly higher than JEPI.TO's 4.57% return.
HMAX.TO
- 1D
- 0.22%
- 1M
- 5.76%
- YTD
- 17.83%
- 6M
- 17.65%
- 1Y
- 42.34%
- 3Y*
- 24.90%
- 5Y*
- —
- 10Y*
- —
JEPI.TO
- 1D
- -0.70%
- 1M
- 2.45%
- YTD
- 4.57%
- 6M
- 4.51%
- 1Y
- 11.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HMAX.TO vs. JEPI.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HMAX.TO Hamilton Canadian Financials Yield Maximizer ETF | 17.83% | 27.16% | 4.61% |
JEPI.TO JPMorgan US Equity Premium Income Active ETF | 4.57% | 3.09% | 5.31% |
Correlation
The correlation between HMAX.TO and JEPI.TO is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2024 | 0.54 |
The correlation between HMAX.TO and JEPI.TO shifts across timeframes, from 0.42 (1 year) to 0.54 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HMAX.TO vs. JEPI.TO — Risk / Return Rank
HMAX.TO
JEPI.TO
HMAX.TO vs. JEPI.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hamilton Canadian Financials Yield Maximizer ETF (HMAX.TO) and JPMorgan US Equity Premium Income Active ETF (JEPI.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.
| HMAX.TO | JEPI.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.08 | ||
| Sortino ratioReturn per unit of downside risk | +4.25 | ||
| Omega ratioGain probability vs. loss probability | 1.81 | 1.21 | +0.60 |
| Calmar ratioReturn relative to maximum drawdown | 5.84 | 2.21 | +3.62 |
| Martin ratioReturn relative to average drawdown | 25.60 | 5.55 | +20.05 |
Loading charts...
Drawdowns
HMAX.TO vs. JEPI.TO - Drawdown Comparison
The maximum HMAX.TO drawdown since its inception was -15.34%, which is greater than JEPI.TO's maximum drawdown of -14.36%. Use the drawdown chart below to compare losses from any high point for HMAX.TO and JEPI.TO.
Loading charts...
Drawdown Indicators
| HMAX.TO | JEPI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.34% | -14.36% | -0.98% |
Max Drawdown (1Y)Largest decline over 1 year | -7.29% | -5.32% | -1.97% |
Max Drawdown (3Y)Largest decline over 3 years | -12.51% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.70% | +0.70% |
Average DrawdownAverage peak-to-trough decline | -2.89% | -3.31% | +0.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.66% | 2.12% | -0.46% |
Volatility
HMAX.TO vs. JEPI.TO - Volatility Comparison
Hamilton Canadian Financials Yield Maximizer ETF (HMAX.TO) and JPMorgan US Equity Premium Income Active ETF (JEPI.TO) have volatilities of 2.54% and 2.64%, 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.
Loading charts...
Volatility by Period
| HMAX.TO | JEPI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.54% | 2.64% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 8.57% | 7.38% | +1.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.00% | 10.02% | -0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.37% | 12.72% | -1.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.37% | 12.72% | -1.35% |
HMAX.TO vs. JEPI.TO - Expense Ratio Comparison
HMAX.TO has a 0.65% expense ratio, which is higher than JEPI.TO's 0.35% expense ratio.
Dividends
HMAX.TO vs. JEPI.TO - Dividend Comparison
HMAX.TO's dividend yield for the trailing twelve months is around 10.93%, more than JEPI.TO's 7.67% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
HMAX.TO Hamilton Canadian Financials Yield Maximizer ETF | 10.93% | 12.29% | 14.08% | 15.47% |
JEPI.TO JPMorgan US Equity Premium Income Active ETF | 7.67% | 7.56% | 0.97% | 0.00% |
Frequently Asked Questions
HMAX.TO and JEPI.TO have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JEPI.TO is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JEPI.TO is cheaper with a 0.35% expense ratio, compared with 0.65% for HMAX.TO.
They also come from different issuers: Hamilton Capital and JPMorgan. Their fees differ too: 0.65% for HMAX.TO and 0.35% for JEPI.TO.
Find the right allocation for HMAX.TO and JEPI.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer