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

PPLN.TO vs. EMAX.TO

Last updated Jun 4, 2026

PPLN.TO (Global X Equal Weight Canadian Pipelines Index ETF) and EMAX.TO (Hamilton Energy YIELD MAXIMIZER ETF) are both Energy Equities funds. PPLN.TO is passively managed, while EMAX.TO is actively managed. Over the past year, PPLN.TO returned 39.15% vs 48.14% for EMAX.TO. At a 0.34 correlation, their price movements are largely independent. PPLN.TO charges 0.31%/yr vs 0.65%/yr for EMAX.TO.

Performance

PPLN.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 Pipelines Index ETF (PPLN.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, PPLN.TO achieves a 29.04% return, which is significantly lower than EMAX.TO's 30.76% return.

PPLN.TO

1D
-0.24%
1M
6.16%
YTD
29.04%
6M
28.59%
1Y
39.15%
3Y*
18.78%
5Y*
14.07%
10Y*
10.87%

EMAX.TO

1D
1.73%
1M
0.51%
YTD
30.76%
6M
24.14%
1Y
48.14%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)20252024
PPLN.TO
Global X Equal Weight Canadian Pipelines Index ETF		29.04%4.14%15.49%
EMAX.TO
Hamilton Energy YIELD MAXIMIZER ETF		30.76%4.63%3.60%

Correlation

The correlation between PPLN.TO and EMAX.TO is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.33

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

0.34

Compare stocks, funds, or ETFs

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

Global X Equal Weight Canadian Pipelines Index ETF

Hamilton Energy YIELD MAXIMIZER ETF

Often compared with PPLN.TO:
PPLN.TO vs. XEG.TOPPLN.TO vs. CBIL.TOPPLN.TO vs. ZWEN.TOPPLN.TO vs. CIF.TOPPLN.TO vs. OILY.TOPPLN.TO vs. NNRG.NEOPPLN.TO vs. ZMT.TO
Often compared with EMAX.TO:
EMAX.TO vs. ENCC.TOEMAX.TO vs. HDIV.TOEMAX.TO vs. QMAX.TOEMAX.TO vs. HMAX.TOEMAX.TO vs. UMAX.TOEMAX.TO vs. XEG.TOEMAX.TO vs. GLCC.TO

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PPLN.TO
PPLN.TO Risk / Return Rank: 7777
Overall Rank
PPLN.TO Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
PPLN.TO Sortino Ratio Rank: 8686
Sortino Ratio Rank
PPLN.TO Omega Ratio Rank: 8080
Omega Ratio Rank
PPLN.TO Calmar Ratio Rank: 7676
Calmar Ratio Rank
PPLN.TO Martin Ratio Rank: 5858
Martin Ratio Rank
EMAX.TO
EMAX.TO Risk / Return Rank: 7070
Overall Rank
EMAX.TO Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
EMAX.TO Sortino Ratio Rank: 6868
Sortino Ratio Rank
EMAX.TO Omega Ratio Rank: 6464
Omega Ratio Rank
EMAX.TO Calmar Ratio Rank: 7777
Calmar Ratio Rank
EMAX.TO Martin Ratio Rank: 6868
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.

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

This table presents a comparison of risk-adjusted performance metrics for Global X Equal Weight Canadian Pipelines Index ETF (PPLN.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.

PPLN.TOEMAX.TODifference
Sharpe ratioReturn per unit of total volatility
2.73
2.42

+0.31

Sortino ratioReturn per unit of downside risk
3.85
3.13

+0.73

Omega ratioGain probability vs. loss probability

1.47

1.39

+0.09

Calmar ratioReturn relative to maximum drawdown

3.85

3.90

-0.06

Martin ratioReturn relative to average drawdown

10.25

12.55

-2.29

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

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

The current PPLN.TO Sharpe Ratio is 2.73, which is comparable to the EMAX.TO Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of PPLN.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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Sharpe Ratios by Period

PPLN.TOEMAX.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.73

2.42

+0.31

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.81

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.47

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.33

0.73

-0.39

Drawdowns

PPLN.TO vs. EMAX.TO - Drawdown Comparison

The maximum PPLN.TO drawdown since its inception was -59.05%, which is greater than EMAX.TO's maximum drawdown of -27.55%. Use the drawdown chart below to compare losses from any high point for PPLN.TO and EMAX.TO.

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Drawdown Indicators

PPLN.TOEMAX.TODifference

Max Drawdown

Largest peak-to-trough decline

-59.05%

-27.55%

-31.50%

Max Drawdown (1Y)

Largest decline over 1 year

-10.22%

-12.39%

+2.17%

Max Drawdown (3Y)

Largest decline over 3 years

-15.31%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-18.54%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-59.05%

—

—

Current Drawdown

Current decline from peak

-2.93%

-3.72%

+0.79%

Average Drawdown

Average peak-to-trough decline

-9.47%

-9.31%

-0.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.84%

3.85%

-0.01%

Volatility

PPLN.TO vs. EMAX.TO - Volatility Comparison

The current volatility for Global X Equal Weight Canadian Pipelines Index ETF (PPLN.TO) is 5.77%, while Hamilton Energy YIELD MAXIMIZER ETF (EMAX.TO) has a volatility of 7.47%. This indicates that PPLN.TO experiences smaller price fluctuations and is considered to be less risky 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

PPLN.TOEMAX.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.77%

7.47%

-1.70%

Volatility (6M)

Calculated over the trailing 6-month period

11.56%

15.32%

-3.76%

Volatility (1Y)

Calculated over the trailing 1-year period

14.40%

20.03%

-5.63%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.40%

22.41%

-5.01%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.20%

22.41%

+0.79%

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

PPLN.TO has a 0.31% expense ratio, which is lower than EMAX.TO's 0.65% expense ratio.

Dividends

PPLN.TO vs. EMAX.TO - Dividend Comparison

PPLN.TO's dividend yield for the trailing twelve months is around 4.26%, less than EMAX.TO's 10.25% yield.

PositionTTM20252024202320222021202020192018201720162015
EMAX.TO
Hamilton Energy YIELD MAXIMIZER ETF		10.25%13.44%12.31%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
PPLN.TO
Global X Equal Weight Canadian Pipelines Index ETF		4.26%4.35%2.94%3.77%3.23%3.47%5.76%4.40%5.21%4.31%3.99%4.41%

Frequently Asked Questions

PPLN.TO and EMAX.TO have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, PPLN.TO is cheaper at 0.31% per year. The better choice depends on whether you care most about return, fees, risk, or income.

PPLN.TO is cheaper with a 0.31% expense ratio, compared with 0.65% for EMAX.TO.

They also come from different issuers: Global X and Hamilton Capital. Their fees differ too: 0.31% for PPLN.TO and 0.65% for EMAX.TO.

Portfolio Optimizer

Find the right allocation for PPLN.TO and EMAX.TO

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