HUTS.TO vs. AMAX.TO
HUTS.TO (Hamilton Enhanced Utilities ETF) and AMAX.TO (Hamilton Gold Producer YIELD MAXIMIZER ETF) are both exchange-traded funds - HUTS.TO is a Utilities Equities fund tracking the Solactive Canadian Utility Services High Dividend Index TR, while AMAX.TO is a Gold fund actively managed by Hamilton. HUTS.TO is passively managed, while AMAX.TO is actively managed. Over the past year, HUTS.TO returned 24.80% vs 34.03% for AMAX.TO. Their 0.14 correlation means their historical movements had little consistent relationship. HUTS.TO charges 2.06%/yr vs 0.65%/yr for AMAX.TO.
Performance
HUTS.TO vs. AMAX.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HUTS.TO achieves a 15.96% return, which is significantly higher than AMAX.TO's -9.75% return.
HUTS.TO
- 1D
- -1.14%
- 1M
- 0.67%
- 6M
- 10.14%
- YTD
- 15.96%
- 1Y
- 24.80%
- 3Y*
- 16.58%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 6.66%
AMAX.TO
- 1D
- 4.59%
- 1M
- -5.37%
- 6M
- -17.73%
- YTD
- -9.75%
- 1Y
- 34.03%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 43.42%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$2.29M | CA$2.76M | CA$3.78M | |
| CA$273.34K | CA$215.70K | CA$190.49K |
HUTS.TO vs. AMAX.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HUTS.TO Hamilton Enhanced Utilities ETF | 15.96% | 21.29% | 10.44% |
AMAX.TO Hamilton Gold Producer YIELD MAXIMIZER ETF | -9.75% | 113.24% | 27.49% |
Correlation
The correlation between HUTS.TO and AMAX.TO is -0.03, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.03 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2024 | 0.14 |
The correlation between HUTS.TO and AMAX.TO shifts across timeframes, from -0.03 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HUTS.TO vs. AMAX.TO — Risk / Return Rank
HUTS.TO
AMAX.TO
HUTS.TO vs. AMAX.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hamilton Enhanced Utilities ETF (HUTS.TO) and Hamilton Gold Producer YIELD MAXIMIZER ETF (AMAX.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.
| HUTS.TO | AMAX.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.55 | ||
| Sortino ratioReturn per unit of downside risk | +2.04 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.16 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 4.24 | 0.97 | +3.27 |
| Martin ratioReturn relative to average drawdown | 11.54 | 2.11 | +9.43 |
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Drawdowns
HUTS.TO vs. AMAX.TO - Drawdown Comparison
The maximum HUTS.TO drawdown since its inception was -30.57%, smaller than the maximum AMAX.TO drawdown of -35.26%. Use the drawdown chart below to compare losses from any high point for HUTS.TO and AMAX.TO.
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Drawdown Indicators
| HUTS.TO | AMAX.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.57% | -35.26% | +4.69% |
Max Drawdown (1Y)Largest decline over 1 year | -5.87% | -35.26% | +29.39% |
Max Drawdown (3Y)Largest decline over 3 years | -14.20% | — | — |
Current DrawdownCurrent decline from peak | -4.32% | -29.72% | +25.40% |
Average DrawdownAverage peak-to-trough decline | -9.73% | -7.36% | -2.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.15% | 16.19% | -14.04% |
Volatility
HUTS.TO vs. AMAX.TO - Volatility Comparison
The current volatility for Hamilton Enhanced Utilities ETF (HUTS.TO) is 4.45%, while Hamilton Gold Producer YIELD MAXIMIZER ETF (AMAX.TO) has a volatility of 11.97%. This indicates that HUTS.TO experiences smaller price fluctuations and is considered to be less risky than AMAX.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HUTS.TO | AMAX.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.45% | 11.97% | -7.52% |
Volatility (6M)Calculated over the trailing 6-month period | 9.14% | 34.45% | -25.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.67% | 43.60% | -32.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.98% | 35.01% | -20.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.98% | 35.01% | -20.03% |
HUTS.TO vs. AMAX.TO - Expense Ratio Comparison
HUTS.TO has a 2.06% expense ratio, which is higher than AMAX.TO's 0.65% expense ratio.
Dividends
HUTS.TO vs. AMAX.TO - Dividend Comparison
HUTS.TO's dividend yield for the trailing twelve months is around 5.70%, less than AMAX.TO's 10.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
AMAX.TO Hamilton Gold Producer YIELD MAXIMIZER ETF | 10.58% | 6.96% | 9.67% | 0.00% | 0.00% |
HUTS.TO Hamilton Enhanced Utilities ETF | 5.70% | 6.45% | 7.45% | 7.83% | 2.33% |
Frequently Asked Questions
HUTS.TO and AMAX.TO have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AMAX.TO is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AMAX.TO is cheaper with a 0.65% expense ratio, compared with 2.06% for HUTS.TO.
HUTS.TO is categorized as Utilities Equities, while AMAX.TO is Gold. Their fees differ too: 2.06% for HUTS.TO and 0.65% for AMAX.TO.
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