LMAX.TO vs. TDOC.TO
LMAX.TO (Hamilton Healthcare Yield Maximizer ETF) and TDOC.TO (TD Global Healthcare Leaders Index ETF) are both Health & Biotech Equities funds. Both are actively managed. Over the past year, LMAX.TO returned 16.64% vs 13.29% for TDOC.TO. Their correlation of 0.86 suggests significant overlap in exposure.
Performance
LMAX.TO vs. TDOC.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 higher than TDOC.TO's 1.29% return.
LMAX.TO
- 1D
- -1.00%
- 1M
- 5.05%
- 6M
- 1.69%
- YTD
- 3.55%
- 1Y
- 16.64%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TDOC.TO
- 1D
- -0.60%
- 1M
- 4.94%
- 6M
- -1.86%
- YTD
- 1.29%
- 1Y
- 13.29%
- 3Y*
- 7.08%
- 5Y*
- 5.24%
- 10Y*
- —
LMAX.TO vs. TDOC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
LMAX.TO Hamilton Healthcare Yield Maximizer ETF | 3.55% | 7.07% | 4.45% |
TDOC.TO TD Global Healthcare Leaders Index ETF | 1.29% | 8.36% | 4.84% |
Correlation
The correlation between LMAX.TO and TDOC.TO is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2024 | 0.86 |
The correlation between LMAX.TO and TDOC.TO has been stable across timeframes, ranging from 0.86 to 0.88 - a consistent structural relationship.
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Return for Risk
LMAX.TO vs. TDOC.TO — Risk / Return Rank
LMAX.TO
TDOC.TO
LMAX.TO vs. TDOC.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hamilton Healthcare Yield Maximizer ETF (LMAX.TO) and TD Global Healthcare Leaders Index ETF (TDOC.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 | TDOC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.23 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.17 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.37 | 1.13 | +0.24 |
| Martin ratioReturn relative to average drawdown | 3.23 | 2.69 | +0.54 |
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Drawdowns
LMAX.TO vs. TDOC.TO - Drawdown Comparison
The maximum LMAX.TO drawdown since its inception was -15.89%, smaller than the maximum TDOC.TO drawdown of -17.52%. Use the drawdown chart below to compare losses from any high point for LMAX.TO and TDOC.TO.
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Drawdown Indicators
| LMAX.TO | TDOC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.89% | -17.52% | +1.63% |
Max Drawdown (1Y)Largest decline over 1 year | -12.16% | -11.77% | -0.39% |
Max Drawdown (3Y)Largest decline over 3 years | — | -12.66% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.52% | — |
Current DrawdownCurrent decline from peak | -2.12% | -3.93% | +1.81% |
Average DrawdownAverage peak-to-trough decline | -5.14% | -4.82% | -0.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.16% | 4.95% | +0.21% |
Volatility
LMAX.TO vs. TDOC.TO - Volatility Comparison
Hamilton Healthcare Yield Maximizer ETF (LMAX.TO) has a higher volatility of 5.60% compared to TD Global Healthcare Leaders Index ETF (TDOC.TO) at 5.23%. This indicates that LMAX.TO's price experiences larger fluctuations and is considered to be riskier than TDOC.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 | TDOC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.60% | 5.23% | +0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 10.73% | 10.81% | -0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.42% | 14.26% | +0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.97% | 13.08% | +0.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.97% | 12.94% | +1.03% |
Dividends
LMAX.TO vs. TDOC.TO - Dividend Comparison
LMAX.TO's dividend yield for the trailing twelve months is around 12.40%, more than TDOC.TO's 1.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
LMAX.TO Hamilton Healthcare Yield Maximizer ETF | 12.40% | 12.51% | 11.35% | 0.00% | 0.00% | 0.00% |
TDOC.TO TD Global Healthcare Leaders Index ETF | 1.18% | 1.09% | 3.68% | 0.98% | 1.16% | 0.60% |
Frequently Asked Questions
LMAX.TO and TDOC.TO have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Hamilton and TD.
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