QMAX.TO vs. CHPS-U.TO

Last updated Jun 4, 2026

QMAX.TO (Hamilton Technology YIELD MAXIMIZER ETF) and CHPS-U.TO (Global X Artificial Intelligence Semiconductor Index ETF) are both exchange-traded funds - QMAX.TO is a Technology Equities fund actively managed by Hamilton Capital, while CHPS-U.TO is a Semiconductors fund tracking the PHLX US AI Semiconductor Index. QMAX.TO is actively managed, while CHPS-U.TO is passively managed. Over the past year, QMAX.TO returned 44.35% vs 135.37% for CHPS-U.TO. At a 0.17 correlation, their price movements are largely independent. QMAX.TO charges 0.65%/yr vs 0.63%/yr for CHPS-U.TO.

Performance

QMAX.TO vs. CHPS-U.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Hamilton Technology YIELD MAXIMIZER ETF (QMAX.TO) and Global X Artificial Intelligence Semiconductor Index ETF (CHPS-U.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

QMAX.TO is traded in CAD, while CHPS-U.TO is traded in USD. To make them comparable, the CHPS-U.TO values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, QMAX.TO achieves a 22.06% return, which is significantly lower than CHPS-U.TO's 62.44% return.

QMAX.TO

• 1D: 0.64%
• 1M: 17.44%
• YTD: 22.06%
• 6M: 19.75%
• 1Y: 44.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CHPS-U.TO

• 1D: 0.00%
• 1M: 26.43%
• YTD: 62.44%
• 6M: 58.58%
• 1Y: 135.37%
• 3Y*: 50.72%
• 5Y*: —
• 10Y*: —

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

QMAX.TO vs. CHPS-U.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
QMAX.TO Hamilton Technology YIELD MAXIMIZER ETF	22.06%	16.57%	37.65%	16.15%
CHPS-U.TO Global X Artificial Intelligence Semiconductor Index ETF	64.94%	44.87%	21.17%	28.92%

Correlation

The correlation between QMAX.TO and CHPS-U.TO is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (All Time) Calculated using the full available price history since Oct 27, 2023	0.17

Return for Risk

QMAX.TO vs. CHPS-U.TO — Risk / Return Rank

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

QMAX.TO

QMAX.TO Risk / Return Rank: 52
QMAX.TO Sharpe Ratio Rank: 64
QMAX.TO Sortino Ratio Rank: 60
QMAX.TO Omega Ratio Rank: 62
QMAX.TO Calmar Ratio Rank: 39
QMAX.TO Martin Ratio Rank: 34

CHPS-U.TO

CHPS-U.TO Risk / Return Rank: 94
CHPS-U.TO Sharpe Ratio Rank: 95
CHPS-U.TO Sortino Ratio Rank: 91
CHPS-U.TO Omega Ratio Rank: 91
CHPS-U.TO Calmar Ratio Rank: 97
CHPS-U.TO Martin Ratio Rank: 95

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.

QMAX.TO vs. CHPS-U.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hamilton Technology YIELD MAXIMIZER ETF (QMAX.TO) and Global X Artificial Intelligence Semiconductor Index ETF (CHPS-U.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.

	QMAX.TO	CHPS-U.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.17	3.91	-1.73
Sortino ratio: Return per unit of downside risk	2.86	4.34	-1.48
Omega ratio: Gain probability vs. loss probability	1.38	1.60	-0.22
Calmar ratio: Return relative to maximum drawdown	1.95	9.95	-8.00
Martin ratio: Return relative to average drawdown	5.32	32.16	-26.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QMAX.TO vs. CHPS-U.TO - Sharpe Ratio Comparison

The current QMAX.TO Sharpe Ratio is 2.17, which is lower than the CHPS-U.TO Sharpe Ratio of 3.91. The chart below compares the historical Sharpe Ratios of QMAX.TO and CHPS-U.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

	QMAX.TO	CHPS-U.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.17	3.91	-1.73
Sharpe Ratio (All Time) Calculated using the full available price history	1.58	0.64	+0.94

Drawdowns

QMAX.TO vs. CHPS-U.TO - Drawdown Comparison

The maximum QMAX.TO drawdown since its inception was -26.77%, smaller than the maximum CHPS-U.TO drawdown of -48.89%. Use the drawdown chart below to compare losses from any high point for QMAX.TO and CHPS-U.TO.

Drawdown Indicators

	QMAX.TO	CHPS-U.TO	Difference
Max Drawdown Largest peak-to-trough decline	-26.77%	-48.89%	+22.12%
Max Drawdown (1Y) Largest decline over 1 year	-22.86%	-13.68%	-9.18%
Max Drawdown (3Y) Largest decline over 3 years	—	-36.00%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.25%	-15.05%	+9.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.36%	4.23%	+4.13%

Volatility

QMAX.TO vs. CHPS-U.TO - Volatility Comparison

The current volatility for Hamilton Technology YIELD MAXIMIZER ETF (QMAX.TO) is 6.48%, while Global X Artificial Intelligence Semiconductor Index ETF (CHPS-U.TO) has a volatility of 11.05%. This indicates that QMAX.TO experiences smaller price fluctuations and is considered to be less risky than CHPS-U.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QMAX.TO	CHPS-U.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.48%	11.05%	-4.57%
Volatility (6M) Calculated over the trailing 6-month period	16.34%	27.21%	-10.87%
Volatility (1Y) Calculated over the trailing 1-year period	20.53%	34.86%	-14.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.66%	38.67%	-15.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.66%	38.67%	-15.01%

QMAX.TO vs. CHPS-U.TO - Expense Ratio Comparison

QMAX.TO has a 0.65% expense ratio, which is higher than CHPS-U.TO's 0.63% expense ratio.

Dividends

QMAX.TO vs. CHPS-U.TO - Dividend Comparison

QMAX.TO's dividend yield for the trailing twelve months is around 9.33%, while CHPS-U.TO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
CHPS-U.TO Global X Artificial Intelligence Semiconductor Index ETF	0.00%	0.01%	0.14%	0.40%	0.72%	0.01%
QMAX.TO Hamilton Technology YIELD MAXIMIZER ETF	9.33%	10.79%	10.90%	2.01%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QMAX.TO and CHPS-U.TO in my portfolio?

QMAX.TO and CHPS-U.TO have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QMAX.TO or CHPS-U.TO?

On fees, CHPS-U.TO is cheaper at 0.63% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QMAX.TO or CHPS-U.TO?

CHPS-U.TO is cheaper with a 0.63% expense ratio, compared with 0.65% for QMAX.TO.

What is the main difference between QMAX.TO and CHPS-U.TO?

QMAX.TO is categorized as Technology Equities, while CHPS-U.TO is Semiconductors. They also come from different issuers: Hamilton Capital and Global X. Their fees differ too: 0.65% for QMAX.TO and 0.63% for CHPS-U.TO.