QMAX.TO vs. CMVP.TO
QMAX.TO (Hamilton Technology YIELD MAXIMIZER ETF) and CMVP.TO (HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units) are both exchange-traded funds - QMAX.TO is a Technology Equities fund actively managed by Hamilton Capital, while CMVP.TO is a Canada Equities fund tracking the Solactive Canada Dividend Elite Champions Index. QMAX.TO is actively managed, while CMVP.TO is passively managed. Over the past year, QMAX.TO returned 44.35% vs 25.73% for CMVP.TO. At a 0.24 correlation, their price movements are largely independent. QMAX.TO charges 0.65%/yr vs 0.00%/yr for CMVP.TO.
Performance
QMAX.TO vs. CMVP.TO - Performance Comparison
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Returns By Period
In the year-to-date period, QMAX.TO achieves a 22.06% return, which is significantly higher than CMVP.TO's 11.91% return.
QMAX.TO
- 1D
- 0.64%
- 1M
- 17.44%
- YTD
- 22.06%
- 6M
- 19.75%
- 1Y
- 44.35%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CMVP.TO
- 1D
- -0.29%
- 1M
- 2.40%
- YTD
- 11.91%
- 6M
- 14.09%
- 1Y
- 25.73%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QMAX.TO vs. CMVP.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QMAX.TO Hamilton Technology YIELD MAXIMIZER ETF | 22.06% | 16.22% |
CMVP.TO HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units | 11.91% | 21.46% |
Correlation
The correlation between QMAX.TO and CMVP.TO is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jan 28, 2025 | 0.24 |
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Return for Risk
QMAX.TO vs. CMVP.TO — Risk / Return Rank
QMAX.TO
CMVP.TO
QMAX.TO vs. CMVP.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hamilton Technology YIELD MAXIMIZER ETF (QMAX.TO) and HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units (CMVP.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 | CMVP.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.49 | ||
| Sortino ratioReturn per unit of downside risk | -0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.49 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.95 | 3.62 | -1.67 |
| Martin ratioReturn relative to average drawdown | 5.32 | 16.15 | -10.84 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| QMAX.TO | CMVP.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.17 | 2.66 | -0.49 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.58 | 2.32 | -0.74 |
Drawdowns
QMAX.TO vs. CMVP.TO - Drawdown Comparison
The maximum QMAX.TO drawdown since its inception was -26.77%, which is greater than CMVP.TO's maximum drawdown of -8.86%. Use the drawdown chart below to compare losses from any high point for QMAX.TO and CMVP.TO.
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Drawdown Indicators
| QMAX.TO | CMVP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.77% | -8.86% | -17.91% |
Max Drawdown (1Y)Largest decline over 1 year | -22.86% | -7.14% | -15.72% |
Current DrawdownCurrent decline from peak | 0.00% | -1.42% | +1.42% |
Average DrawdownAverage peak-to-trough decline | -5.25% | -1.09% | -4.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.36% | 1.60% | +6.76% |
Volatility
QMAX.TO vs. CMVP.TO - Volatility Comparison
Hamilton Technology YIELD MAXIMIZER ETF (QMAX.TO) has a higher volatility of 6.48% compared to HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units (CMVP.TO) at 3.00%. This indicates that QMAX.TO's price experiences larger fluctuations and is considered to be riskier than CMVP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QMAX.TO | CMVP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.48% | 3.00% | +3.48% |
Volatility (6M)Calculated over the trailing 6-month period | 16.34% | 7.92% | +8.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.53% | 9.72% | +10.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.66% | 11.08% | +12.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.66% | 11.08% | +12.58% |
QMAX.TO vs. CMVP.TO - Expense Ratio Comparison
QMAX.TO has a 0.65% expense ratio, which is higher than CMVP.TO's 0.00% expense ratio.
Dividends
QMAX.TO vs. CMVP.TO - Dividend Comparison
QMAX.TO's dividend yield for the trailing twelve months is around 9.33%, more than CMVP.TO's 2.72% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CMVP.TO HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units | 2.72% | 2.70% | 0.00% | 0.00% |
QMAX.TO Hamilton Technology YIELD MAXIMIZER ETF | 9.33% | 10.79% | 10.90% | 2.01% |
Frequently Asked Questions
QMAX.TO and CMVP.TO have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CMVP.TO is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CMVP.TO is cheaper with a 0.00% expense ratio, compared with 0.65% for QMAX.TO.
QMAX.TO is categorized as Technology Equities, while CMVP.TO is Canada Equities. Their fees differ too: 0.65% for QMAX.TO and 0.00% for CMVP.TO.
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