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MREL.TO vs. RMAX.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

MREL.TO vs. RMAX.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Middlefield Real Estate Dividend ETF (MREL.TO) and Hamilton REITs YIELD MAXIMIZER ETF (RMAX.TO).

MREL.TO and RMAX.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MREL.TO is an actively managed fund by Middlefield. It was launched on Apr 20, 2011. RMAX.TO is managed by Hamilton ETFs.

Performance

MREL.TO vs. RMAX.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Middlefield Real Estate Dividend ETF (MREL.TO) and Hamilton REITs YIELD MAXIMIZER ETF (RMAX.TO). The values are adjusted to include any dividend payments, if applicable.

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MREL.TO vs. RMAX.TO - Yearly Performance Comparison

2026 (YTD)20252024
MREL.TO
Middlefield Real Estate Dividend ETF		1.55%13.13%11.52%
RMAX.TO
Hamilton REITs YIELD MAXIMIZER ETF		1.02%5.39%9.70%

Returns By Period

In the year-to-date period, MREL.TO achieves a 1.55% return, which is significantly higher than RMAX.TO's 1.02% return.

MREL.TO

1D
1.37%
1M
-4.68%
YTD
1.55%
6M
2.16%
1Y
12.01%
3Y*
8.29%
5Y*
5.73%
10Y*
7.05%

RMAX.TO

1D
0.76%
1M
-4.81%
YTD
1.02%
6M
-2.74%
1Y
4.08%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Middlefield Real Estate Dividend ETF

Hamilton REITs YIELD MAXIMIZER ETF

Often compared with MREL.TO:
MREL.TO vs. HCRE.TOMREL.TO vs. XRE.TOMREL.TO vs. HGR.TOMREL.TO vs. RIT.TOMREL.TO vs. CGR.TOMREL.TO vs. VRE.TOMREL.TO vs. ZRE.TO
Often compared with RMAX.TO:
RMAX.TO vs. HGR.TORMAX.TO vs. ZRE.TORMAX.TO vs. APR-UN.TORMAX.TO vs. RIT.TORMAX.TO vs. AYEP.DERMAX.TO vs. VRAIRMAX.TO vs. UKRE.L

MREL.TO vs. RMAX.TO - Expense Ratio Comparison

RMAX.TO
Hamilton REITs YIELD MAXIMIZER ETF

Return for Risk

MREL.TO vs. RMAX.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MREL.TO
MREL.TO Risk / Return Rank: 4444
Overall Rank
MREL.TO Sharpe Ratio Rank: 4343
Sharpe Ratio Rank
MREL.TO Sortino Ratio Rank: 4343
Sortino Ratio Rank
MREL.TO Omega Ratio Rank: 3737
Omega Ratio Rank
MREL.TO Calmar Ratio Rank: 4848
Calmar Ratio Rank
MREL.TO Martin Ratio Rank: 5050
Martin Ratio Rank
RMAX.TO
RMAX.TO Risk / Return Rank: 2121
Overall Rank
RMAX.TO Sharpe Ratio Rank: 1919
Sharpe Ratio Rank
RMAX.TO Sortino Ratio Rank: 1919
Sortino Ratio Rank
RMAX.TO Omega Ratio Rank: 1818
Omega Ratio Rank
RMAX.TO Calmar Ratio Rank: 2525
Calmar Ratio Rank
RMAX.TO Martin Ratio Rank: 2424
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MREL.TO vs. RMAX.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Middlefield Real Estate Dividend ETF (MREL.TO) and Hamilton REITs YIELD MAXIMIZER ETF (RMAX.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.

MREL.TORMAX.TODifference

Sharpe ratio

Return per unit of total volatility

0.84

0.30

+0.54

Sortino ratio

Return per unit of downside risk

1.25

0.50

+0.75

Omega ratio

Gain probability vs. loss probability

1.16

1.07

+0.09

Calmar ratio

Return relative to maximum drawdown

1.28

0.56

+0.72

Martin ratio

Return relative to average drawdown

5.02

1.87

+3.16

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MREL.TO vs. RMAX.TO - Sharpe Ratio Comparison

The current MREL.TO Sharpe Ratio is 0.84, which is higher than the RMAX.TO Sharpe Ratio of 0.30. The chart below compares the historical Sharpe Ratios of MREL.TO and RMAX.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

MREL.TORMAX.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.84

0.30

+0.54

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.38

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.46

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.55

0.70

-0.15

Correlation

The correlation between MREL.TO and RMAX.TO is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

MREL.TO vs. RMAX.TO - Dividend Comparison

MREL.TO's dividend yield for the trailing twelve months is around 6.54%, less than RMAX.TO's 9.98% yield.

TTM20252024202320222021202020192018201720162015
MREL.TO
Middlefield Real Estate Dividend ETF		6.54%7.16%7.53%7.42%8.66%5.43%6.97%6.06%6.29%6.27%6.50%6.35%
RMAX.TO
Hamilton REITs YIELD MAXIMIZER ETF		9.98%10.65%4.88%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Drawdowns

MREL.TO vs. RMAX.TO - Drawdown Comparison

The maximum MREL.TO drawdown since its inception was -35.00%, which is greater than RMAX.TO's maximum drawdown of -15.90%. Use the drawdown chart below to compare losses from any high point for MREL.TO and RMAX.TO.

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Drawdown Indicators

MREL.TORMAX.TODifference

Max Drawdown

Largest peak-to-trough decline

-35.00%

-15.90%

-19.10%

Max Drawdown (1Y)

Largest decline over 1 year

-9.32%

-10.07%

+0.75%

Max Drawdown (5Y)

Largest decline over 5 years

-28.81%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-35.00%

—

—

Current Drawdown

Current decline from peak

-5.18%

-5.00%

-0.18%

Average Drawdown

Average peak-to-trough decline

-6.61%

-3.94%

-2.67%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.38%

3.09%

-0.71%

Volatility

MREL.TO vs. RMAX.TO - Volatility Comparison

Middlefield Real Estate Dividend ETF (MREL.TO) has a higher volatility of 5.16% compared to Hamilton REITs YIELD MAXIMIZER ETF (RMAX.TO) at 3.82%. This indicates that MREL.TO's price experiences larger fluctuations and is considered to be riskier than RMAX.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MREL.TORMAX.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.16%

3.82%

+1.34%

Volatility (6M)

Calculated over the trailing 6-month period

10.00%

7.99%

+2.01%

Volatility (1Y)

Calculated over the trailing 1-year period

14.43%

13.97%

+0.46%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.09%

13.07%

+2.02%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.45%

13.07%

+2.38%