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NRGY.TO vs. EMAX.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

NRGY.TO vs. EMAX.TO

Last updated Jul 15, 2026
Documentation

NRGY.TO (Global X Equal Weight Canadian Oil & Gas Index ETF) and EMAX.TO (Hamilton Energy YIELD MAXIMIZER ETF) are both Energy Equities funds. NRGY.TO is passively managed, while EMAX.TO is actively managed. Over the past year, NRGY.TO returned 48.22% vs 35.83% for EMAX.TO. A 0.76 correlation means they provide meaningful diversification when combined. NRGY.TO charges 0.49%/yr vs 0.65%/yr for EMAX.TO.

Performance

NRGY.TO vs. EMAX.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Equal Weight Canadian Oil & Gas Index ETF (NRGY.TO) and Hamilton Energy YIELD MAXIMIZER ETF (EMAX.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, NRGY.TO achieves a 35.97% return, which is significantly higher than EMAX.TO's 27.45% return.

NRGY.TO

1D
-0.66%
1M
-0.39%
6M
35.46%
YTD
35.97%
1Y
48.22%
3Y*
—
5Y*
—
10Y*
—

EMAX.TO

1D
-0.36%
1M
0.05%
6M
21.90%
YTD
27.45%
1Y
35.83%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

NRGY.TO vs. EMAX.TO - Yearly Performance Comparison

2026 (YTD)20252024
NRGY.TO
Global X Equal Weight Canadian Oil & Gas Index ETF		35.97%14.36%-2.64%
EMAX.TO
Hamilton Energy YIELD MAXIMIZER ETF		27.45%4.63%-4.45%

Correlation

The correlation between NRGY.TO and EMAX.TO is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.78

Correlation (All Time)
Calculated using the full available price history since Nov 8, 2024

0.76

The correlation between NRGY.TO and EMAX.TO has been stable across timeframes, ranging from 0.76 to 0.78 - a consistent structural relationship.

NRGY.TO vs. EMAX.TO - Sectors Allocation Comparison

Sectors
NRGY.TO
EMAX.TO

Energy

100.0%
100.0%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Financial Services

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Energy

NRGY.TO
100.0%
EMAX.TO
100.0%

Basic Materials

NRGY.TO

-

EMAX.TO

-

Communication Services

NRGY.TO

-

EMAX.TO

-

Consumer Cyclical

NRGY.TO

-

EMAX.TO

-

Consumer Defensive

NRGY.TO

-

EMAX.TO

-

Financial Services

NRGY.TO

-

EMAX.TO

-

Healthcare

NRGY.TO

-

EMAX.TO

-

Industrials

NRGY.TO

-

EMAX.TO

-

Real Estate

NRGY.TO

-

EMAX.TO

-

Technology

NRGY.TO

-

EMAX.TO

-

Utilities

NRGY.TO

-

EMAX.TO

-

Compare stocks, funds, or ETFs

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Global X Equal Weight Canadian Oil & Gas Index ETF

Hamilton Energy YIELD MAXIMIZER ETF

Often compared with NRGY.TO:
NRGY.TO vs. ZEO.TONRGY.TO vs. CPCC.TONRGY.TO vs. COPP.TONRGY.TO vs. VDENRGY.TO vs. GLDX.TONRGY.TO vs. HLIT.TONRGY.TO vs. XEG.TO
Often compared with EMAX.TO:
EMAX.TO vs. ENCC.TOEMAX.TO vs. HMAX.TOEMAX.TO vs. QMAX.TOEMAX.TO vs. HDIV.TOEMAX.TO vs. XEG.TOEMAX.TO vs. GLCC.TOEMAX.TO vs. UMAX.TO

Return for Risk

NRGY.TO vs. EMAX.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
NRGY.TO
NRGY.TO Risk / Return Rank: 9191
Overall Rank
NRGY.TO Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
NRGY.TO Sortino Ratio Rank: 9292
Sortino Ratio Rank
NRGY.TO Omega Ratio Rank: 9090
Omega Ratio Rank
NRGY.TO Calmar Ratio Rank: 9292
Calmar Ratio Rank
NRGY.TO Martin Ratio Rank: 8686
Martin Ratio Rank
EMAX.TO
EMAX.TO Risk / Return Rank: 6464
Overall Rank
EMAX.TO Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
EMAX.TO Sortino Ratio Rank: 6565
Sortino Ratio Rank
EMAX.TO Omega Ratio Rank: 6161
Omega Ratio Rank
EMAX.TO Calmar Ratio Rank: 7272
Calmar Ratio Rank
EMAX.TO Martin Ratio Rank: 5454
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.

NRGY.TO vs. EMAX.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Equal Weight Canadian Oil & Gas Index ETF (NRGY.TO) and Hamilton Energy YIELD MAXIMIZER ETF (EMAX.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.

NRGY.TOEMAX.TODifference
Sharpe ratioReturn per unit of total volatility
2.69
1.80

+0.89

Sortino ratioReturn per unit of downside risk
3.53
2.40

+1.14

Omega ratioGain probability vs. loss probability

1.45

1.29

+0.16

Calmar ratioReturn relative to maximum drawdown

4.82

2.91

+1.91

Martin ratioReturn relative to average drawdown

13.80

7.48

+6.33

NRGY.TO vs. EMAX.TO - Sharpe Ratio Comparison

The current NRGY.TO Sharpe Ratio is 2.69, which is higher than the EMAX.TO Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of NRGY.TO and EMAX.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

NRGY.TO vs. EMAX.TO - Drawdown Comparison

The maximum NRGY.TO drawdown since its inception was -16.59%, smaller than the maximum EMAX.TO drawdown of -27.55%. Use the drawdown chart below to compare losses from any high point for NRGY.TO and EMAX.TO.

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Drawdown Indicators

NRGY.TOEMAX.TODifference

Max Drawdown

Largest peak-to-trough decline

-16.59%

-27.55%

+10.96%

Max Drawdown (1Y)

Largest decline over 1 year

-10.16%

-12.39%

+2.23%

Current Drawdown

Current decline from peak

-4.09%

-6.16%

+2.07%

Average Drawdown

Average peak-to-trough decline

-3.75%

-9.27%

+5.52%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.53%

4.82%

-1.29%

Volatility

NRGY.TO vs. EMAX.TO - Volatility Comparison

Global X Equal Weight Canadian Oil & Gas Index ETF (NRGY.TO) has a higher volatility of 7.16% compared to Hamilton Energy YIELD MAXIMIZER ETF (EMAX.TO) at 6.40%. This indicates that NRGY.TO's price experiences larger fluctuations and is considered to be riskier than EMAX.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

NRGY.TOEMAX.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

7.16%

6.40%

+0.76%

Volatility (6M)

Calculated over the trailing 6-month period

15.07%

15.67%

-0.60%

Volatility (1Y)

Calculated over the trailing 1-year period

18.23%

20.06%

-1.83%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.91%

22.38%

-2.47%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.91%

22.38%

-2.47%

NRGY.TO vs. EMAX.TO - Expense Ratio Comparison

NRGY.TO has a 0.49% expense ratio, which is lower than EMAX.TO's 0.65% expense ratio.

Dividends

NRGY.TO vs. EMAX.TO - Dividend Comparison

NRGY.TO's dividend yield for the trailing twelve months is around 3.15%, less than EMAX.TO's 10.52% yield.

PositionTTM20252024
EMAX.TO
Hamilton Energy YIELD MAXIMIZER ETF		10.52%13.44%12.31%
NRGY.TO
Global X Equal Weight Canadian Oil & Gas Index ETF		3.15%3.87%0.56%

Frequently Asked Questions

NRGY.TO and EMAX.TO have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, NRGY.TO is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

NRGY.TO is cheaper with a 0.49% expense ratio, compared with 0.65% for EMAX.TO.

They also come from different issuers: Global X and Hamilton Capital. Their fees differ too: 0.49% for NRGY.TO and 0.65% for EMAX.TO.

Portfolio Optimizer

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