QQCL.TO vs. QMAX.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Global X Enhanced NASDAQ-100 Covered Call ETF (QQCL.TO) and Hamilton Technology YIELD MAXIMIZER ETF (QMAX.TO).

QQCL.TO and QMAX.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QQCL.TO is an actively managed fund by Global X. It was launched on Oct 10, 2023. QMAX.TO is an actively managed fund by Hamilton Capital. It was launched on Oct 25, 2023.

Performance

QQCL.TO vs. QMAX.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Enhanced NASDAQ-100 Covered Call ETF (QQCL.TO) and Hamilton Technology YIELD MAXIMIZER ETF (QMAX.TO). The values are adjusted to include any dividend payments, if applicable.

QQCL.TO vs. QMAX.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
QQCL.TO Global X Enhanced NASDAQ-100 Covered Call ETF	-4.67%	13.10%	41.38%	9.41%
QMAX.TO Hamilton Technology YIELD MAXIMIZER ETF	-15.25%	16.57%	37.65%	16.15%

Returns By Period

In the year-to-date period, QQCL.TO achieves a -4.67% return, which is significantly higher than QMAX.TO's -15.25% return.

QQCL.TO

• 1D: 2.65%
• 1M: -3.98%
• YTD: -4.67%
• 6M: -2.53%
• 1Y: 17.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QMAX.TO

• 1D: 3.55%
• 1M: -2.67%
• YTD: -15.25%
• 6M: -14.61%
• 1Y: 12.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQCL.TO vs. QMAX.TO - Expense Ratio Comparison

QQCL.TO has a 0.85% expense ratio, which is higher than QMAX.TO's 0.65% expense ratio.

QQCL.TO

Global X Enhanced NASDAQ-100 Covered Call ETF

QMAX.TO

Hamilton Technology YIELD MAXIMIZER ETF

Return for Risk

QQCL.TO vs. QMAX.TO — Risk / Return Rank

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

QQCL.TO

QQCL.TO Risk / Return Rank: 48
QQCL.TO Sharpe Ratio Rank: 43
QQCL.TO Sortino Ratio Rank: 45
QQCL.TO Omega Ratio Rank: 51
QQCL.TO Calmar Ratio Rank: 49
QQCL.TO Martin Ratio Rank: 51

QMAX.TO

QMAX.TO Risk / Return Rank: 27
QMAX.TO Sharpe Ratio Rank: 28
QMAX.TO Sortino Ratio Rank: 30
QMAX.TO Omega Ratio Rank: 30
QMAX.TO Calmar Ratio Rank: 26
QMAX.TO Martin Ratio Rank: 24

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.

QQCL.TO vs. QMAX.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Enhanced NASDAQ-100 Covered Call ETF (QQCL.TO) and Hamilton Technology YIELD MAXIMIZER ETF (QMAX.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.

	QQCL.TO	QMAX.TO	Difference
Sharpe ratio Return per unit of total volatility	0.74	0.46	+0.28
Sortino ratio Return per unit of downside risk	1.18	0.83	+0.35
Omega ratio Gain probability vs. loss probability	1.18	1.12	+0.07
Calmar ratio Return relative to maximum drawdown	1.15	0.54	+0.61
Martin ratio Return relative to average drawdown	4.61	1.52	+3.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QQCL.TO vs. QMAX.TO - Sharpe Ratio Comparison

The current QQCL.TO Sharpe Ratio is 0.74, which is higher than the QMAX.TO Sharpe Ratio of 0.46. The chart below compares the historical Sharpe Ratios of QQCL.TO and QMAX.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	QQCL.TO	QMAX.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.74	0.46	+0.28
Sharpe Ratio (All Time) Calculated using the full available price history	1.03	0.88	+0.15

Correlation

The correlation between QQCL.TO and QMAX.TO is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

QQCL.TO vs. QMAX.TO - Dividend Comparison

QQCL.TO's dividend yield for the trailing twelve months is around 14.48%, more than QMAX.TO's 11.87% yield.

	TTM	2025	2024	2023
QQCL.TO Global X Enhanced NASDAQ-100 Covered Call ETF	14.48%	14.54%	11.87%	3.68%
QMAX.TO Hamilton Technology YIELD MAXIMIZER ETF	11.87%	10.79%	10.90%	2.01%

Drawdowns

QQCL.TO vs. QMAX.TO - Drawdown Comparison

The maximum QQCL.TO drawdown since its inception was -25.63%, roughly equal to the maximum QMAX.TO drawdown of -26.77%. Use the drawdown chart below to compare losses from any high point for QQCL.TO and QMAX.TO.

Drawdown Indicators

	QQCL.TO	QMAX.TO	Difference
Max Drawdown Largest peak-to-trough decline	-25.63%	-26.77%	+1.14%
Max Drawdown (1Y) Largest decline over 1 year	-16.21%	-22.86%	+6.65%
Current Drawdown Current decline from peak	-8.32%	-20.12%	+11.80%
Average Drawdown Average peak-to-trough decline	-3.48%	-5.29%	+1.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.04%	8.16%	-4.12%

Volatility

QQCL.TO vs. QMAX.TO - Volatility Comparison

The current volatility for Global X Enhanced NASDAQ-100 Covered Call ETF (QQCL.TO) is 6.86%, while Hamilton Technology YIELD MAXIMIZER ETF (QMAX.TO) has a volatility of 7.64%. This indicates that QQCL.TO experiences smaller price fluctuations and is considered to be less risky than QMAX.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQCL.TO	QMAX.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.86%	7.64%	-0.78%
Volatility (6M) Calculated over the trailing 6-month period	12.95%	16.03%	-3.08%
Volatility (1Y) Calculated over the trailing 1-year period	24.34%	26.26%	-1.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.61%	23.56%	-2.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.61%	23.56%	-2.95%