QMAX.TO vs. FHQ.TO
QMAX.TO (Hamilton Technology YIELD MAXIMIZER ETF) and FHQ.TO (First Trust AlphaDEX U.S. Technology Sector Index ETF) are both Technology Equities funds. QMAX.TO is actively managed, while FHQ.TO is passively managed. Over the past year, QMAX.TO returned 24.68% vs 26.36% for FHQ.TO. A 0.59 correlation means they provide meaningful diversification when combined.
Performance
QMAX.TO vs. FHQ.TO - Performance Comparison
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Returns By Period
In the year-to-date period, QMAX.TO achieves a 13.64% return, which is significantly lower than FHQ.TO's 18.48% return.
QMAX.TO
- 1D
- -2.35%
- 1M
- -5.65%
- 6M
- 15.93%
- YTD
- 13.64%
- 1Y
- 24.68%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FHQ.TO
- 1D
- -0.81%
- 1M
- -8.00%
- 6M
- 13.04%
- YTD
- 18.48%
- 1Y
- 26.36%
- 3Y*
- 19.74%
- 5Y*
- 12.10%
- 10Y*
- 18.72%
QMAX.TO vs. FHQ.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
QMAX.TO Hamilton Technology YIELD MAXIMIZER ETF | 13.64% | 16.54% | 37.66% | 14.41% |
FHQ.TO First Trust AlphaDEX U.S. Technology Sector Index ETF | 18.48% | 8.42% | 25.83% | 16.90% |
Correlation
The correlation between QMAX.TO and FHQ.TO is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2023 | 0.59 |
The correlation between QMAX.TO and FHQ.TO shifts across timeframes, from 0.46 (1 year) to 0.59 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
QMAX.TO vs. FHQ.TO — Risk / Return Rank
QMAX.TO
FHQ.TO
QMAX.TO vs. FHQ.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hamilton Technology YIELD MAXIMIZER ETF (QMAX.TO) and First Trust AlphaDEX U.S. Technology Sector Index ETF (FHQ.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.
| QMAX.TO | FHQ.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.20 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.08 | 1.87 | -0.79 |
| Martin ratioReturn relative to average drawdown | 2.91 | 5.06 | -2.16 |
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Drawdowns
QMAX.TO vs. FHQ.TO - Drawdown Comparison
The maximum QMAX.TO drawdown since its inception was -26.77%, smaller than the maximum FHQ.TO drawdown of -32.05%. Use the drawdown chart below to compare losses from any high point for QMAX.TO and FHQ.TO.
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Drawdown Indicators
| QMAX.TO | FHQ.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.77% | -32.05% | +5.28% |
Max Drawdown (1Y)Largest decline over 1 year | -22.86% | -14.13% | -8.73% |
Max Drawdown (3Y)Largest decline over 3 years | — | -27.64% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -32.05% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.05% | — |
Current DrawdownCurrent decline from peak | -9.89% | -10.99% | +1.10% |
Average DrawdownAverage peak-to-trough decline | -5.18% | -7.63% | +2.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.52% | 5.22% | +3.30% |
Volatility
QMAX.TO vs. FHQ.TO - Volatility Comparison
Hamilton Technology YIELD MAXIMIZER ETF (QMAX.TO) and First Trust AlphaDEX U.S. Technology Sector Index ETF (FHQ.TO) have volatilities of 10.41% and 10.08%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QMAX.TO | FHQ.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.41% | 10.08% | +0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 20.93% | 21.35% | -0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.41% | 25.54% | -1.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.61% | 23.68% | +0.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.61% | 23.36% | +1.25% |
Dividends
QMAX.TO vs. FHQ.TO - Dividend Comparison
QMAX.TO's dividend yield for the trailing twelve months is around 10.20%, while FHQ.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FHQ.TO First Trust AlphaDEX U.S. Technology Sector Index ETF | 0.00% | 0.00% | 0.02% | 0.00% | 0.00% | 1.18% | 0.43% | 0.50% | 0.80% | 0.83% | 1.20% | 0.43% |
QMAX.TO Hamilton Technology YIELD MAXIMIZER ETF | 10.20% | 10.79% | 10.88% | 2.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
QMAX.TO and FHQ.TO have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Hamilton Capital and First Trust.
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