METE.TO vs. UMAX.TO
METE.TO (Harvest Meta Enhanced High Income Shares ETF - Class A Units) and UMAX.TO (Hamilton Utilities YIELD MAXIMIZER ETF) are both Derivative Income funds. Both are actively managed. Over the past year, METE.TO returned -5.95% vs 13.44% for UMAX.TO. At a 0.00 correlation, their price movements are largely independent. METE.TO charges 0.40%/yr vs 0.65%/yr for UMAX.TO.
Performance
METE.TO vs. UMAX.TO - Performance Comparison
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Returns By Period
In the year-to-date period, METE.TO achieves a -4.55% return, which is significantly lower than UMAX.TO's 8.78% return.
METE.TO
- 1D
- 5.47%
- 1M
- 4.67%
- YTD
- -4.55%
- 6M
- -2.86%
- 1Y
- -5.95%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UMAX.TO
- 1D
- 0.19%
- 1M
- 3.71%
- YTD
- 8.78%
- 6M
- 8.52%
- 1Y
- 13.44%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
METE.TO vs. UMAX.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
METE.TO Harvest Meta Enhanced High Income Shares ETF - Class A Units | -4.55% | -0.67% |
UMAX.TO Hamilton Utilities YIELD MAXIMIZER ETF | 8.78% | 9.67% |
Correlation
The correlation between METE.TO and UMAX.TO is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Jan 17, 2025 | 0.00 |
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Return for Risk
METE.TO vs. UMAX.TO — Risk / Return Rank
METE.TO
UMAX.TO
METE.TO vs. UMAX.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harvest Meta Enhanced High Income Shares ETF - Class A Units (METE.TO) and Hamilton Utilities YIELD MAXIMIZER ETF (UMAX.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.
| METE.TO | UMAX.TO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.16 | 2.03 | -2.19 |
Sortino ratioReturn per unit of downside risk | 0.02 | 3.16 | -3.14 |
Omega ratioGain probability vs. loss probability | 1.00 | 1.37 | -0.37 |
Calmar ratioReturn relative to maximum drawdown | -0.17 | 2.64 | -2.81 |
Martin ratioReturn relative to average drawdown | -0.36 | 9.13 | -9.49 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| METE.TO | UMAX.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.16 | 2.03 | -2.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.09 | 1.00 | -1.09 |
Drawdowns
METE.TO vs. UMAX.TO - Drawdown Comparison
The maximum METE.TO drawdown since its inception was -40.10%, which is greater than UMAX.TO's maximum drawdown of -10.09%. Use the drawdown chart below to compare losses from any high point for METE.TO and UMAX.TO.
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Drawdown Indicators
| METE.TO | UMAX.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.10% | -10.09% | -30.01% |
Max Drawdown (1Y)Largest decline over 1 year | -35.48% | -5.11% | -30.37% |
Current DrawdownCurrent decline from peak | -22.07% | -0.47% | -21.60% |
Average DrawdownAverage peak-to-trough decline | -15.68% | -2.06% | -13.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.51% | 1.50% | +15.01% |
Volatility
METE.TO vs. UMAX.TO - Volatility Comparison
Harvest Meta Enhanced High Income Shares ETF - Class A Units (METE.TO) has a higher volatility of 9.99% compared to Hamilton Utilities YIELD MAXIMIZER ETF (UMAX.TO) at 1.93%. This indicates that METE.TO's price experiences larger fluctuations and is considered to be riskier than UMAX.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| METE.TO | UMAX.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.99% | 1.93% | +8.06% |
Volatility (6M)Calculated over the trailing 6-month period | 28.26% | 5.54% | +22.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.57% | 6.65% | +29.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.08% | 8.68% | +33.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.08% | 8.68% | +33.40% |
METE.TO vs. UMAX.TO - Expense Ratio Comparison
METE.TO has a 0.40% expense ratio, which is lower than UMAX.TO's 0.65% expense ratio.
Dividends
METE.TO vs. UMAX.TO - Dividend Comparison
METE.TO's dividend yield for the trailing twelve months is around 25.77%, more than UMAX.TO's 14.00% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
METE.TO Harvest Meta Enhanced High Income Shares ETF - Class A Units | 25.77% | 21.31% | 0.00% | 0.00% |
UMAX.TO Hamilton Utilities YIELD MAXIMIZER ETF | 14.00% | 14.86% | 14.81% | 6.96% |
Frequently Asked Questions
METE.TO and UMAX.TO have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, METE.TO is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
METE.TO is cheaper with a 0.40% expense ratio, compared with 0.65% for UMAX.TO.
They also come from different issuers: Harvest Portfolios Group and Hamilton Capital. Their fees differ too: 0.40% for METE.TO and 0.65% for UMAX.TO.
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