LMAX.TO vs. HFG.TO
LMAX.TO (Hamilton Healthcare Yield Maximizer ETF) and HFG.TO (Hamilton Global Financials ETF) are both exchange-traded funds - LMAX.TO is a Health & Biotech Equities fund actively managed by Hamilton, while HFG.TO is a Financials Equities fund actively managed by Hamilton. Both are actively managed. Over the past year, LMAX.TO returned 16.64% vs 17.90% for HFG.TO. At a 0.25 correlation, their price movements are largely independent.
Performance
LMAX.TO vs. HFG.TO - Performance Comparison
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Returns By Period
In the year-to-date period, LMAX.TO achieves a 3.55% return, which is significantly lower than HFG.TO's 7.82% return.
LMAX.TO
- 1D
- -1.00%
- 1M
- 5.05%
- 6M
- 1.69%
- YTD
- 3.55%
- 1Y
- 16.64%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HFG.TO
- 1D
- -0.79%
- 1M
- 4.91%
- 6M
- 6.75%
- YTD
- 7.82%
- 1Y
- 17.90%
- 3Y*
- 24.59%
- 5Y*
- 15.45%
- 10Y*
- —
LMAX.TO vs. HFG.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
LMAX.TO Hamilton Healthcare Yield Maximizer ETF | 3.55% | 7.07% | 4.45% |
HFG.TO Hamilton Global Financials ETF | 7.82% | 22.93% | 30.03% |
Correlation
The correlation between LMAX.TO and HFG.TO is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2024 | 0.25 |
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Return for Risk
LMAX.TO vs. HFG.TO — Risk / Return Rank
LMAX.TO
HFG.TO
LMAX.TO vs. HFG.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hamilton Healthcare Yield Maximizer ETF (LMAX.TO) and Hamilton Global Financials ETF (HFG.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.
| LMAX.TO | HFG.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.27 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.37 | 1.64 | -0.27 |
| Martin ratioReturn relative to average drawdown | 3.23 | 5.19 | -1.95 |
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Drawdowns
LMAX.TO vs. HFG.TO - Drawdown Comparison
The maximum LMAX.TO drawdown since its inception was -15.89%, smaller than the maximum HFG.TO drawdown of -42.71%. Use the drawdown chart below to compare losses from any high point for LMAX.TO and HFG.TO.
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Drawdown Indicators
| LMAX.TO | HFG.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.89% | -42.71% | +26.82% |
Max Drawdown (1Y)Largest decline over 1 year | -12.16% | -10.95% | -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 | -2.12% | -0.79% | -1.33% |
Average DrawdownAverage peak-to-trough decline | -5.14% | -5.37% | +0.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.16% | 3.46% | +1.70% |
Volatility
LMAX.TO vs. HFG.TO - Volatility Comparison
Hamilton Healthcare Yield Maximizer ETF (LMAX.TO) has a higher volatility of 5.60% compared to Hamilton Global Financials ETF (HFG.TO) at 3.65%. This indicates that LMAX.TO's price experiences larger fluctuations and is considered to be riskier than HFG.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LMAX.TO | HFG.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.60% | 3.65% | +1.95% |
Volatility (6M)Calculated over the trailing 6-month period | 10.73% | 10.72% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.42% | 13.05% | +1.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.97% | 16.04% | -2.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.97% | 20.25% | -6.28% |
Dividends
LMAX.TO vs. HFG.TO - Dividend Comparison
LMAX.TO's dividend yield for the trailing twelve months is around 12.40%, more than HFG.TO's 2.40% 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 | 12.40% | 12.51% | 11.35% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
LMAX.TO and HFG.TO have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LMAX.TO is categorized as Health & Biotech Equities, while HFG.TO is Financials Equities.
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