SMAX.TO vs. HTAE.TO

Last updated Jun 4, 2026

SMAX.TO (Hamilton U.S. Equity YIELD MAXIMIZER ETF) and HTAE.TO (Harvest Tech Achievers Enhanced Income ETF - Class A Units) are both exchange-traded funds - SMAX.TO is a Derivative Income fund actively managed by Hamilton Capital, while HTAE.TO is a Technology Equities fund actively managed by Harvest. Both are actively managed. Over the past year, SMAX.TO returned 44.38% vs 56.12% for HTAE.TO. A 0.72 correlation means they provide meaningful diversification when combined. SMAX.TO charges 0.65%/yr vs 2.49%/yr for HTAE.TO.

Performance

SMAX.TO vs. HTAE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Hamilton U.S. Equity YIELD MAXIMIZER ETF (SMAX.TO) and Harvest Tech Achievers Enhanced Income ETF - Class A Units (HTAE.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMAX.TO achieves a 18.79% return, which is significantly lower than HTAE.TO's 32.62% return.

SMAX.TO

• 1D: 0.31%
• 1M: 10.49%
• YTD: 18.79%
• 6M: 17.56%
• 1Y: 44.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HTAE.TO

• 1D: -1.02%
• 1M: 20.35%
• YTD: 32.62%
• 6M: 33.74%
• 1Y: 56.12%
• 3Y*: 31.84%
• 5Y*: —
• 10Y*: —

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

SMAX.TO vs. HTAE.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SMAX.TO Hamilton U.S. Equity YIELD MAXIMIZER ETF	18.79%	18.64%	40.16%	7.98%
HTAE.TO Harvest Tech Achievers Enhanced Income ETF - Class A Units	32.62%	13.49%	28.26%	24.76%

Correlation

The correlation between SMAX.TO and HTAE.TO is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.63
Correlation (All Time) Calculated using the full available price history since Oct 27, 2023	0.72

The correlation between SMAX.TO and HTAE.TO has been stable across timeframes, ranging from 0.63 to 0.72 - a consistent structural relationship.

SMAX.TO vs. HTAE.TO - Sectors Allocation Comparison

Sectors	SMAX.TO	HTAE.TO
Technology	33.6%	90.7%
Communication Services	11.9%	9.3%
Financial Services	11.5%	-
Consumer Cyclical	8.3%	-
Industrials	8.1%	-
Healthcare	7.4%	-
Consumer Defensive	4.0%	-
Real Estate	4.0%	-
Utilities	3.9%	-
Basic Materials	3.8%	-
Energy	3.6%	-

Return for Risk

SMAX.TO vs. HTAE.TO — Risk / Return Rank

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

SMAX.TO

SMAX.TO Risk / Return Rank: 94
SMAX.TO Sharpe Ratio Rank: 94
SMAX.TO Sortino Ratio Rank: 94
SMAX.TO Omega Ratio Rank: 94
SMAX.TO Calmar Ratio Rank: 93
SMAX.TO Martin Ratio Rank: 93

HTAE.TO

HTAE.TO Risk / Return Rank: 66
HTAE.TO Sharpe Ratio Rank: 78
HTAE.TO Sortino Ratio Rank: 69
HTAE.TO Omega Ratio Rank: 65
HTAE.TO Calmar Ratio Rank: 61
HTAE.TO Martin Ratio Rank: 57

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.

SMAX.TO vs. HTAE.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hamilton U.S. Equity YIELD MAXIMIZER ETF (SMAX.TO) and Harvest Tech Achievers Enhanced Income ETF - Class A Units (HTAE.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.

	SMAX.TO	HTAE.TO	Difference
Sharpe ratio Return per unit of total volatility	3.61	2.57	+1.04
Sortino ratio Return per unit of downside risk	5.00	3.20	+1.80
Omega ratio Gain probability vs. loss probability	1.71	1.40	+0.30
Calmar ratio Return relative to maximum drawdown	6.95	3.07	+3.88
Martin ratio Return relative to average drawdown	25.77	10.12	+15.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMAX.TO vs. HTAE.TO - Sharpe Ratio Comparison

The current SMAX.TO Sharpe Ratio is 3.61, which is higher than the HTAE.TO Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of SMAX.TO and HTAE.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.

Sharpe Ratios by Period

	SMAX.TO	HTAE.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.61	2.57	+1.04
Sharpe Ratio (All Time) Calculated using the full available price history	2.32	1.39	+0.93

Drawdowns

SMAX.TO vs. HTAE.TO - Drawdown Comparison

The maximum SMAX.TO drawdown since its inception was -18.22%, smaller than the maximum HTAE.TO drawdown of -30.83%. Use the drawdown chart below to compare losses from any high point for SMAX.TO and HTAE.TO.

Drawdown Indicators

	SMAX.TO	HTAE.TO	Difference
Max Drawdown Largest peak-to-trough decline	-18.22%	-30.83%	+12.61%
Max Drawdown (1Y) Largest decline over 1 year	-6.42%	-18.39%	+11.97%
Max Drawdown (3Y) Largest decline over 3 years	—	-30.83%	—
Current Drawdown Current decline from peak	-0.32%	-1.02%	+0.70%
Average Drawdown Average peak-to-trough decline	-2.09%	-4.57%	+2.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.73%	5.56%	-3.83%

Volatility

SMAX.TO vs. HTAE.TO - Volatility Comparison

The current volatility for Hamilton U.S. Equity YIELD MAXIMIZER ETF (SMAX.TO) is 5.51%, while Harvest Tech Achievers Enhanced Income ETF - Class A Units (HTAE.TO) has a volatility of 6.89%. This indicates that SMAX.TO experiences smaller price fluctuations and is considered to be less risky than HTAE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMAX.TO	HTAE.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.51%	6.89%	-1.38%
Volatility (6M) Calculated over the trailing 6-month period	9.72%	17.54%	-7.82%
Volatility (1Y) Calculated over the trailing 1-year period	12.36%	21.98%	-9.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.62%	26.99%	-12.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.62%	26.99%	-12.37%

SMAX.TO vs. HTAE.TO - Expense Ratio Comparison

SMAX.TO has a 0.65% expense ratio, which is lower than HTAE.TO's 2.49% expense ratio.

Dividends

SMAX.TO vs. HTAE.TO - Dividend Comparison

SMAX.TO's dividend yield for the trailing twelve months is around 13.36%, more than HTAE.TO's 9.31% yield.

Position	TTM	2025	2024	2023	2022
HTAE.TO Harvest Tech Achievers Enhanced Income ETF - Class A Units	9.31%	11.28%	10.01%	9.38%	2.20%
SMAX.TO Hamilton U.S. Equity YIELD MAXIMIZER ETF	13.36%	14.67%	13.88%	2.57%	0.00%

Frequently Asked Questions

Can I hold both SMAX.TO and HTAE.TO in my portfolio?

SMAX.TO and HTAE.TO have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SMAX.TO or HTAE.TO?

On fees, SMAX.TO is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SMAX.TO or HTAE.TO?

SMAX.TO is cheaper with a 0.65% expense ratio, compared with 2.49% for HTAE.TO.

What is the main difference between SMAX.TO and HTAE.TO?

SMAX.TO is categorized as Derivative Income, while HTAE.TO is Technology Equities. They also come from different issuers: Hamilton Capital and Harvest. Their fees differ too: 0.65% for SMAX.TO and 2.49% for HTAE.TO.