SMAX.TO vs. YAVG.NEO

Last updated Jun 4, 2026

SMAX.TO (Hamilton U.S. Equity YIELD MAXIMIZER ETF) and YAVG.NEO (Broadcom (AVGO) Yield Shares Purpose ETF) are both Derivative Income funds. Both are actively managed. Over the past year, SMAX.TO returned 44.38% vs 133.32% for YAVG.NEO. At a 0.46 correlation, their price movements are largely independent.

Performance

SMAX.TO vs. YAVG.NEO - 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 Broadcom (AVGO) Yield Shares Purpose ETF (YAVG.NEO). 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 YAVG.NEO's 59.96% return.

SMAX.TO

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

YAVG.NEO

• 1D: -0.50%
• 1M: 16.03%
• YTD: 59.96%
• 6M: 46.17%
• 1Y: 133.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMAX.TO vs. YAVG.NEO - Yearly Performance Comparison

	2026 (YTD)	2025
SMAX.TO Hamilton U.S. Equity YIELD MAXIMIZER ETF	18.79%	16.00%
YAVG.NEO Broadcom (AVGO) Yield Shares Purpose ETF	59.96%	57.91%

Correlation

The correlation between SMAX.TO and YAVG.NEO is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (All Time) Calculated using the full available price history since Feb 21, 2025	0.46

Return for Risk

SMAX.TO vs. YAVG.NEO — 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

YAVG.NEO

YAVG.NEO Risk / Return Rank: 84
YAVG.NEO Sharpe Ratio Rank: 86
YAVG.NEO Sortino Ratio Rank: 81
YAVG.NEO Omega Ratio Rank: 83
YAVG.NEO Calmar Ratio Rank: 88
YAVG.NEO Martin Ratio Rank: 79

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. YAVG.NEO - 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 Broadcom (AVGO) Yield Shares Purpose ETF (YAVG.NEO). 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	YAVG.NEO	Difference
Sharpe ratio Return per unit of total volatility	3.61	2.81	+0.80
Sortino ratio Return per unit of downside risk	5.00	3.62	+1.38
Omega ratio Gain probability vs. loss probability	1.71	1.50	+0.21
Calmar ratio Return relative to maximum drawdown	6.95	5.18	+1.77
Martin ratio Return relative to average drawdown	25.77	15.35	+10.42
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. YAVG.NEO - Sharpe Ratio Comparison

The current SMAX.TO Sharpe Ratio is 3.61, which is comparable to the YAVG.NEO Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of SMAX.TO and YAVG.NEO, 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	YAVG.NEO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.61	2.81	+0.80
Sharpe Ratio (All Time) Calculated using the full available price history	2.32	2.03	+0.29

Drawdowns

SMAX.TO vs. YAVG.NEO - Drawdown Comparison

The maximum SMAX.TO drawdown since its inception was -18.22%, smaller than the maximum YAVG.NEO drawdown of -39.57%. Use the drawdown chart below to compare losses from any high point for SMAX.TO and YAVG.NEO.

Drawdown Indicators

	SMAX.TO	YAVG.NEO	Difference
Max Drawdown Largest peak-to-trough decline	-18.22%	-39.57%	+21.35%
Max Drawdown (1Y) Largest decline over 1 year	-6.42%	-25.90%	+19.48%
Current Drawdown Current decline from peak	-0.32%	-0.50%	+0.18%
Average Drawdown Average peak-to-trough decline	-2.09%	-8.26%	+6.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.73%	8.72%	-6.99%

Volatility

SMAX.TO vs. YAVG.NEO - Volatility Comparison

The current volatility for Hamilton U.S. Equity YIELD MAXIMIZER ETF (SMAX.TO) is 5.51%, while Broadcom (AVGO) Yield Shares Purpose ETF (YAVG.NEO) has a volatility of 11.15%. This indicates that SMAX.TO experiences smaller price fluctuations and is considered to be less risky than YAVG.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMAX.TO	YAVG.NEO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.51%	11.15%	-5.64%
Volatility (6M) Calculated over the trailing 6-month period	9.72%	37.61%	-27.89%
Volatility (1Y) Calculated over the trailing 1-year period	12.36%	47.84%	-35.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.62%	52.43%	-37.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.62%	52.43%	-37.81%

Dividends

SMAX.TO vs. YAVG.NEO - Dividend Comparison

SMAX.TO's dividend yield for the trailing twelve months is around 13.36%, less than YAVG.NEO's 21.76% yield.

Position	TTM	2025	2024	2023
SMAX.TO Hamilton U.S. Equity YIELD MAXIMIZER ETF	13.36%	14.67%	13.88%	2.57%
YAVG.NEO Broadcom (AVGO) Yield Shares Purpose ETF	21.76%	8.90%	0.00%	0.00%

Frequently Asked Questions

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

SMAX.TO and YAVG.NEO have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between SMAX.TO and YAVG.NEO?

They also come from different issuers: Hamilton Capital and Purpose Investments.