NWH-UN.TO vs. HMAX.TO

Last updated Jun 4, 2026

NWH-UN.TO (NorthWest Healthcare Properties Real Estate Investment Trust) is a stock, while HMAX.TO (Hamilton Canadian Financials YIELD MAXIMIZER ETF) is Derivative Income fund actively managed by Hamilton Capital. Over the past 3 years, NWH-UN.TO returned -3.95%/yr vs 21.76%/yr for HMAX.TO. At a 0.44 correlation, their price movements are largely independent.

Performance

NWH-UN.TO vs. HMAX.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in NorthWest Healthcare Properties Real Estate Investment Trust (NWH-UN.TO) and Hamilton Canadian Financials YIELD MAXIMIZER ETF (HMAX.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NWH-UN.TO achieves a 11.97% return, which is significantly higher than HMAX.TO's 11.17% return.

NWH-UN.TO

• 1D: -1.41%
• 1M: 2.38%
• YTD: 11.97%
• 6M: 6.79%
• 1Y: 22.23%
• 3Y*: -3.95%
• 5Y*: -9.24%
• 10Y*: 1.74%

HMAX.TO

• 1D: -0.55%
• 1M: 4.52%
• YTD: 11.17%
• 6M: 14.64%
• 1Y: 35.28%
• 3Y*: 21.76%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

NWH-UN.TO vs. HMAX.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NWH-UN.TO NorthWest Healthcare Properties Real Estate Investment Trust	11.97%	23.48%	-7.17%	-43.83%
HMAX.TO Hamilton Canadian Financials YIELD MAXIMIZER ETF	11.17%	27.20%	20.65%	0.77%

Correlation

The correlation between NWH-UN.TO and HMAX.TO is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (All Time) Calculated using the full available price history since Jan 24, 2023	0.44

Return for Risk

NWH-UN.TO vs. HMAX.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NWH-UN.TO

NWH-UN.TO Risk / Return Rank: 71
NWH-UN.TO Sharpe Ratio Rank: 72
NWH-UN.TO Sortino Ratio Rank: 72
NWH-UN.TO Omega Ratio Rank: 67
NWH-UN.TO Calmar Ratio Rank: 71
NWH-UN.TO Martin Ratio Rank: 73

HMAX.TO

HMAX.TO Risk / Return Rank: 91
HMAX.TO Sharpe Ratio Rank: 93
HMAX.TO Sortino Ratio Rank: 94
HMAX.TO Omega Ratio Rank: 93
HMAX.TO Calmar Ratio Rank: 86
HMAX.TO Martin Ratio Rank: 90

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.

NWH-UN.TO vs. HMAX.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NorthWest Healthcare Properties Real Estate Investment Trust (NWH-UN.TO) and Hamilton Canadian Financials YIELD MAXIMIZER ETF (HMAX.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.

	NWH-UN.TO	HMAX.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.03	3.56	-2.53
Sortino ratio: Return per unit of downside risk	1.85	5.03	-3.18
Omega ratio: Gain probability vs. loss probability	1.21	1.67	-0.46
Calmar ratio: Return relative to maximum drawdown	1.73	4.86	-3.13
Martin ratio: Return relative to average drawdown	4.47	21.27	-16.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NWH-UN.TO vs. HMAX.TO - Sharpe Ratio Comparison

The current NWH-UN.TO Sharpe Ratio is 1.03, which is lower than the HMAX.TO Sharpe Ratio of 3.56. The chart below compares the historical Sharpe Ratios of NWH-UN.TO and HMAX.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.

Sharpe Ratios by Period

	NWH-UN.TO	HMAX.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.03	3.56	-2.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.36	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.07	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	1.54	-1.37

Drawdowns

NWH-UN.TO vs. HMAX.TO - Drawdown Comparison

The maximum NWH-UN.TO drawdown since its inception was -68.61%, which is greater than HMAX.TO's maximum drawdown of -15.34%. Use the drawdown chart below to compare losses from any high point for NWH-UN.TO and HMAX.TO.

Drawdown Indicators

	NWH-UN.TO	HMAX.TO	Difference
Max Drawdown Largest peak-to-trough decline	-68.61%	-15.34%	-53.27%
Max Drawdown (1Y) Largest decline over 1 year	-13.02%	-7.29%	-5.73%
Max Drawdown (3Y) Largest decline over 3 years	-48.19%	-12.48%	-35.71%
Max Drawdown (5Y) Largest decline over 5 years	-68.61%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-68.61%	—	—
Current Drawdown Current decline from peak	-46.44%	-0.91%	-45.53%
Average Drawdown Average peak-to-trough decline	-17.38%	-2.94%	-14.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.08%	1.66%	+3.42%

Volatility

NWH-UN.TO vs. HMAX.TO - Volatility Comparison

NorthWest Healthcare Properties Real Estate Investment Trust (NWH-UN.TO) has a higher volatility of 4.85% compared to Hamilton Canadian Financials YIELD MAXIMIZER ETF (HMAX.TO) at 3.28%. This indicates that NWH-UN.TO's price experiences larger fluctuations and is considered to be riskier than HMAX.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NWH-UN.TO	HMAX.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.85%	3.28%	+1.57%
Volatility (6M) Calculated over the trailing 6-month period	18.21%	8.55%	+9.66%
Volatility (1Y) Calculated over the trailing 1-year period	21.84%	9.95%	+11.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.91%	11.42%	+14.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.13%	11.42%	+13.71%

Dividends

NWH-UN.TO vs. HMAX.TO - Dividend Comparison

NWH-UN.TO's dividend yield for the trailing twelve months is around 5.89%, less than HMAX.TO's 11.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HMAX.TO Hamilton Canadian Financials YIELD MAXIMIZER ETF	11.59%	12.29%	14.08%	15.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NWH-UN.TO NorthWest Healthcare Properties Real Estate Investment Trust	5.89%	7.05%	8.09%	12.66%	8.42%	5.79%	6.35%	6.71%	8.44%	7.04%	7.84%	8.96%

Frequently Asked Questions

Can I hold both NWH-UN.TO and HMAX.TO in my portfolio?

NWH-UN.TO and HMAX.TO have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.