QQC.TO vs. UMAX.TO

Last updated Jun 24, 2026

QQC.TO (Invesco NASDAQ 100 Index ETF CAD Hedged) and UMAX.TO (Hamilton Utilities YIELD MAXIMIZER ETF) are both exchange-traded funds - QQC.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while UMAX.TO is a Derivative Income fund actively managed by Hamilton Capital. QQC.TO is passively managed, while UMAX.TO is actively managed. Over the past 3 years, QQC.TO returned 28.93%/yr vs 9.24%/yr for UMAX.TO. At a 0.09 correlation, their price movements are largely independent. QQC.TO charges 0.20%/yr vs 0.65%/yr for UMAX.TO.

Performance

QQC.TO vs. UMAX.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Invesco NASDAQ 100 Index ETF CAD Hedged (QQC.TO) and Hamilton Utilities YIELD MAXIMIZER ETF (UMAX.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQC.TO achieves a 20.44% return, which is significantly higher than UMAX.TO's 9.83% return.

QQC.TO

• 1D: -2.86%
• 1M: 2.44%
• YTD: 20.44%
• 6M: 19.25%
• 1Y: 39.38%
• 3Y*: 28.93%
• 5Y*: 19.17%
• 10Y*: —

UMAX.TO

• 1D: 1.41%
• 1M: 0.59%
• YTD: 9.83%
• 6M: 10.81%
• 1Y: 16.01%
• 3Y*: 9.24%
• 5Y*: —
• 10Y*: —

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

QQC.TO vs. UMAX.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
QQC.TO Invesco NASDAQ 100 Index ETF CAD Hedged	20.44%	15.38%	35.74%	11.64%
UMAX.TO Hamilton Utilities YIELD MAXIMIZER ETF	9.83%	9.90%	5.99%	0.18%

Correlation

The correlation between QQC.TO and UMAX.TO is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (All Time) Calculated using the full available price history since Jun 15, 2023	0.09

The correlation between QQC.TO and UMAX.TO shifts across timeframes, from -0.14 (1 year) to 0.09 (3 years), reflecting how their relationship changes across market environments.

QQC.TO vs. UMAX.TO - Sectors Allocation Comparison

Sectors	QQC.TO	UMAX.TO
Technology	59.6%	-
Communication Services	14.0%	22.4%
Consumer Cyclical	11.1%	-
Consumer Defensive	6.3%	-
Healthcare	3.6%	-
Industrials	2.6%	23.0%
Utilities	1.1%	30.6%
Basic Materials	1.0%	-
Energy	0.5%	24.0%
Financial Services	0.2%	-
Real Estate	0.1%	-

Return for Risk

QQC.TO vs. UMAX.TO — Risk / Return Rank

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

QQC.TO

QQC.TO Risk / Return Rank: 69
QQC.TO Sharpe Ratio Rank: 75
QQC.TO Sortino Ratio Rank: 68
QQC.TO Omega Ratio Rank: 73
QQC.TO Calmar Ratio Rank: 67
QQC.TO Martin Ratio Rank: 59

UMAX.TO

UMAX.TO Risk / Return Rank: 74
UMAX.TO Sharpe Ratio Rank: 77
UMAX.TO Sortino Ratio Rank: 85
UMAX.TO Omega Ratio Rank: 79
UMAX.TO Calmar Ratio Rank: 66
UMAX.TO Martin Ratio Rank: 63

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.

QQC.TO vs. UMAX.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco NASDAQ 100 Index ETF CAD Hedged (QQC.TO) and Hamilton Utilities YIELD MAXIMIZER ETF (UMAX.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.

	QQC.TO	UMAX.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.31	2.34	-0.04
Sortino ratio: Return per unit of downside risk	2.99	3.61	-0.62
Omega ratio: Gain probability vs. loss probability	1.41	1.44	-0.02
Calmar ratio: Return relative to maximum drawdown	3.26	3.15	+0.11
Martin ratio: Return relative to average drawdown	10.17	10.93	-0.75

QQC.TO vs. UMAX.TO - Sharpe Ratio Comparison

The current QQC.TO Sharpe Ratio is 2.31, which is comparable to the UMAX.TO Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of QQC.TO and UMAX.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.

Drawdowns

QQC.TO vs. UMAX.TO - Drawdown Comparison

The maximum QQC.TO drawdown since its inception was -31.81%, which is greater than UMAX.TO's maximum drawdown of -10.09%. Use the drawdown chart below to compare losses from any high point for QQC.TO and UMAX.TO.

Drawdown Indicators

	QQC.TO	UMAX.TO	Difference
Max Drawdown Largest peak-to-trough decline	-31.81%	-10.09%	-21.72%
Max Drawdown (1Y) Largest decline over 1 year	-12.14%	-5.11%	-7.03%
Max Drawdown (3Y) Largest decline over 3 years	-22.58%	-10.09%	-12.49%
Max Drawdown (5Y) Largest decline over 5 years	-31.81%	—	—
Current Drawdown Current decline from peak	-3.22%	-0.36%	-2.86%
Average Drawdown Average peak-to-trough decline	-7.98%	-2.04%	-5.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.88%	1.47%	+2.41%

Volatility

QQC.TO vs. UMAX.TO - Volatility Comparison

Invesco NASDAQ 100 Index ETF CAD Hedged (QQC.TO) has a higher volatility of 8.52% compared to Hamilton Utilities YIELD MAXIMIZER ETF (UMAX.TO) at 2.45%. This indicates that QQC.TO's price experiences larger fluctuations and is considered to be riskier than UMAX.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQC.TO	UMAX.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.52%	2.45%	+6.07%
Volatility (6M) Calculated over the trailing 6-month period	13.78%	5.68%	+8.10%
Volatility (1Y) Calculated over the trailing 1-year period	17.19%	6.88%	+10.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.13%	8.71%	+12.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.01%	8.71%	+12.30%

QQC.TO vs. UMAX.TO - Expense Ratio Comparison

QQC.TO has a 0.20% expense ratio, which is lower than UMAX.TO's 0.65% expense ratio.

Dividends

QQC.TO vs. UMAX.TO - Dividend Comparison

QQC.TO's dividend yield for the trailing twelve months is around 0.32%, less than UMAX.TO's 13.86% yield.

Position	TTM	2025	2024	2023	2022	2021
QQC.TO Invesco NASDAQ 100 Index ETF CAD Hedged	0.32%	0.39%	0.45%	0.54%	0.91%	0.56%
UMAX.TO Hamilton Utilities YIELD MAXIMIZER ETF	13.86%	14.85%	14.78%	6.96%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QQC.TO and UMAX.TO in my portfolio?

QQC.TO and UMAX.TO have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QQC.TO or UMAX.TO?

On fees, QQC.TO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QQC.TO or UMAX.TO?

QQC.TO is cheaper with a 0.20% expense ratio, compared with 0.65% for UMAX.TO.

What is the main difference between QQC.TO and UMAX.TO?

QQC.TO is categorized as Nasdaq-100, while UMAX.TO is Derivative Income. They also come from different issuers: Invesco and Hamilton Capital. Their fees differ too: 0.20% for QQC.TO and 0.65% for UMAX.TO.