RMAX.TO vs. UMAX.TO
RMAX.TO (Hamilton REITs YIELD MAXIMIZER ETF) and UMAX.TO (Hamilton Utilities YIELD MAXIMIZER ETF) are both exchange-traded funds - RMAX.TO is a REIT fund managed by Hamilton ETFs, while UMAX.TO is a Derivative Income fund actively managed by Hamilton Capital. Over the past year, RMAX.TO returned 15.41% vs 17.30% for UMAX.TO. A 0.53 correlation means they provide meaningful diversification when combined. RMAX.TO charges 0.79%/yr vs 0.65%/yr for UMAX.TO.
Performance
RMAX.TO vs. UMAX.TO - Performance Comparison
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Returns By Period
In the year-to-date period, RMAX.TO achieves a 12.71% return, which is significantly higher than UMAX.TO's 10.39% return.
RMAX.TO
- 1D
- 0.12%
- 1M
- 3.22%
- YTD
- 12.71%
- 6M
- 13.43%
- 1Y
- 15.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UMAX.TO
- 1D
- 0.37%
- 1M
- 1.11%
- YTD
- 10.39%
- 6M
- 11.21%
- 1Y
- 17.30%
- 3Y*
- 9.15%
- 5Y*
- —
- 10Y*
- —
RMAX.TO vs. UMAX.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
RMAX.TO Hamilton REITs YIELD MAXIMIZER ETF | 12.71% | 5.39% | 9.49% |
UMAX.TO Hamilton Utilities YIELD MAXIMIZER ETF | 10.39% | 9.90% | 7.29% |
Correlation
The correlation between RMAX.TO and UMAX.TO is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Jun 20, 2024 | 0.53 |
The correlation between RMAX.TO and UMAX.TO has been stable across timeframes, ranging from 0.47 to 0.53 - a consistent structural relationship.
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Return for Risk
RMAX.TO vs. UMAX.TO — Risk / Return Rank
RMAX.TO
UMAX.TO
RMAX.TO vs. UMAX.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hamilton REITs YIELD MAXIMIZER ETF (RMAX.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.
| RMAX.TO | UMAX.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.14 | ||
| Sortino ratioReturn per unit of downside risk | -1.94 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.48 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 2.41 | 3.40 | -0.99 |
| Martin ratioReturn relative to average drawdown | 5.78 | 11.81 | -6.03 |
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Drawdowns
RMAX.TO vs. UMAX.TO - Drawdown Comparison
The maximum RMAX.TO drawdown since its inception was -15.90%, 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 RMAX.TO and UMAX.TO.
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Drawdown Indicators
| RMAX.TO | UMAX.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.90% | -10.09% | -5.81% |
Max Drawdown (1Y)Largest decline over 1 year | -6.42% | -5.11% | -1.31% |
Max Drawdown (3Y)Largest decline over 3 years | — | -10.09% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -3.60% | -2.03% | -1.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.67% | 1.47% | +1.20% |
Volatility
RMAX.TO vs. UMAX.TO - Volatility Comparison
Hamilton REITs YIELD MAXIMIZER ETF (RMAX.TO) has a higher volatility of 3.20% compared to Hamilton Utilities YIELD MAXIMIZER ETF (UMAX.TO) at 2.47%. This indicates that RMAX.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.
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Volatility by Period
| RMAX.TO | UMAX.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.20% | 2.47% | +0.73% |
Volatility (6M)Calculated over the trailing 6-month period | 8.57% | 5.68% | +2.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.10% | 6.87% | +4.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.91% | 8.70% | +4.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.91% | 8.70% | +4.21% |
RMAX.TO vs. UMAX.TO - Expense Ratio Comparison
RMAX.TO has a 0.79% expense ratio, which is higher than UMAX.TO's 0.65% expense ratio.
Dividends
RMAX.TO vs. UMAX.TO - Dividend Comparison
RMAX.TO's dividend yield for the trailing twelve months is around 10.12%, less than UMAX.TO's 13.79% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
RMAX.TO Hamilton REITs YIELD MAXIMIZER ETF | 10.12% | 10.65% | 4.88% | 0.00% |
UMAX.TO Hamilton Utilities YIELD MAXIMIZER ETF | 13.79% | 14.85% | 14.78% | 6.96% |
Frequently Asked Questions
RMAX.TO and UMAX.TO have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UMAX.TO is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UMAX.TO is cheaper with a 0.65% expense ratio, compared with 0.79% for RMAX.TO.
RMAX.TO is categorized as REIT, while UMAX.TO is Derivative Income. They also come from different issuers: Hamilton ETFs and Hamilton Capital. Their fees differ too: 0.79% for RMAX.TO and 0.65% for UMAX.TO.
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