QMAX.TO vs. TECH

Last updated Jun 4, 2026

QMAX.TO (Hamilton Technology YIELD MAXIMIZER ETF) is Technology Equities fund actively managed by Hamilton Capital, while TECH (Bio-Techne Corporation) is a stock. Over the past year, QMAX.TO returned 44.35% vs 6.23% for TECH. At a 0.24 correlation, their price movements are largely independent.

Performance

QMAX.TO vs. TECH - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Hamilton Technology YIELD MAXIMIZER ETF (QMAX.TO) and Bio-Techne Corporation (TECH). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

QMAX.TO is traded in CAD, while TECH is traded in USD. To make them comparable, the TECH 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 higher than TECH's -12.15% return.

QMAX.TO

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

TECH

• 1D: 2.59%
• 1M: -5.08%
• YTD: -12.15%
• 6M: -20.38%
• 1Y: 6.23%
• 3Y*: -13.60%
• 5Y*: -10.79%
• 10Y*: 7.72%

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

QMAX.TO vs. TECH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
QMAX.TO Hamilton Technology YIELD MAXIMIZER ETF	22.06%	16.57%	37.65%	16.15%
TECH Bio-Techne Corporation	-12.15%	-21.66%	1.93%	20.28%

Correlation

The correlation between QMAX.TO and TECH 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 Oct 27, 2023	0.24

Return for Risk

QMAX.TO vs. TECH — 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

TECH

TECH Risk / Return Rank: 42
TECH Sharpe Ratio Rank: 44
TECH Sortino Ratio Rank: 41
TECH Omega Ratio Rank: 40
TECH Calmar Ratio Rank: 43
TECH Martin Ratio Rank: 44

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. TECH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hamilton Technology YIELD MAXIMIZER ETF (QMAX.TO) and Bio-Techne Corporation (TECH). 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	TECH	Difference
Sharpe ratio: Return per unit of total volatility	2.17	0.14	+2.04
Sortino ratio: Return per unit of downside risk	2.86	0.50	+2.36
Omega ratio: Gain probability vs. loss probability	1.38	1.07	+0.32
Calmar ratio: Return relative to maximum drawdown	1.95	0.16	+1.79
Martin ratio: Return relative to average drawdown	5.32	0.39	+4.93
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. TECH - Sharpe Ratio Comparison

The current QMAX.TO Sharpe Ratio is 2.17, which is higher than the TECH Sharpe Ratio of 0.14. The chart below compares the historical Sharpe Ratios of QMAX.TO and TECH, 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	TECH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.17	0.14	+2.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.29	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.23	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.58	0.33	+1.25

Drawdowns

QMAX.TO vs. TECH - Drawdown Comparison

The maximum QMAX.TO drawdown since its inception was -26.77%, smaller than the maximum TECH drawdown of -64.37%. Use the drawdown chart below to compare losses from any high point for QMAX.TO and TECH.

Drawdown Indicators

	QMAX.TO	TECH	Difference
Max Drawdown Largest peak-to-trough decline	-26.77%	-64.37%	+37.60%
Max Drawdown (1Y) Largest decline over 1 year	-22.86%	-39.64%	+16.78%
Max Drawdown (3Y) Largest decline over 3 years	—	-48.91%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-64.37%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-64.37%	—
Current Drawdown Current decline from peak	0.00%	-57.62%	+57.62%
Average Drawdown Average peak-to-trough decline	-5.25%	-16.65%	+11.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.36%	15.94%	-7.58%

Volatility

QMAX.TO vs. TECH - Volatility Comparison

The current volatility for Hamilton Technology YIELD MAXIMIZER ETF (QMAX.TO) is 6.48%, while Bio-Techne Corporation (TECH) has a volatility of 23.44%. This indicates that QMAX.TO experiences smaller price fluctuations and is considered to be less risky than TECH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QMAX.TO	TECH	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.48%	23.44%	-16.96%
Volatility (6M) Calculated over the trailing 6-month period	16.34%	35.51%	-19.17%
Volatility (1Y) Calculated over the trailing 1-year period	20.53%	45.27%	-24.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.66%	37.53%	-13.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.66%	32.98%	-9.32%

Dividends

QMAX.TO vs. TECH - Dividend Comparison

QMAX.TO's dividend yield for the trailing twelve months is around 9.33%, more than TECH's 0.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QMAX.TO Hamilton Technology YIELD MAXIMIZER ETF	9.33%	10.79%	10.90%	2.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TECH Bio-Techne Corporation	0.63%	0.54%	0.56%	0.41%	0.39%	0.25%	0.40%	0.58%	0.88%	0.99%	1.24%	1.42%

Frequently Asked Questions

Can I hold both QMAX.TO and TECH in my portfolio?

QMAX.TO and TECH 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.