UMAX.TO vs. CBNK.TO
UMAX.TO (Hamilton Utilities YIELD MAXIMIZER ETF) and CBNK.TO (Mulvihill Canadian Bank Enhanced Yield ETF) are both Derivative Income funds. Both are actively managed. Over the past year, UMAX.TO returned 13.44% vs 79.20% for CBNK.TO. At a 0.48 correlation, their price movements are largely independent.
Performance
UMAX.TO vs. CBNK.TO - Performance Comparison
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Returns By Period
In the year-to-date period, UMAX.TO achieves a 8.78% return, which is significantly lower than CBNK.TO's 25.56% return.
UMAX.TO
- 1D
- 0.19%
- 1M
- 3.71%
- YTD
- 8.78%
- 6M
- 8.52%
- 1Y
- 13.44%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CBNK.TO
- 1D
- 0.42%
- 1M
- 7.74%
- YTD
- 25.56%
- 6M
- 32.17%
- 1Y
- 79.20%
- 3Y*
- 38.97%
- 5Y*
- —
- 10Y*
- —
UMAX.TO vs. CBNK.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
UMAX.TO Hamilton Utilities YIELD MAXIMIZER ETF | 8.78% | 9.95% | 5.97% | 0.81% |
CBNK.TO Mulvihill Canadian Bank Enhanced Yield ETF | 25.56% | 51.67% | 27.42% | 6.78% |
Correlation
The correlation between UMAX.TO and CBNK.TO is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Jun 16, 2023 | 0.48 |
Over the past year, the correlation between UMAX.TO and CBNK.TO has dropped to 0.20 - well below their long-term average of 0.48, suggesting their price drivers have been diverging.
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Return for Risk
UMAX.TO vs. CBNK.TO — Risk / Return Rank
UMAX.TO
CBNK.TO
UMAX.TO vs. CBNK.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hamilton Utilities YIELD MAXIMIZER ETF (UMAX.TO) and Mulvihill Canadian Bank Enhanced Yield ETF (CBNK.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.
| UMAX.TO | CBNK.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.09 | ||
| Sortino ratioReturn per unit of downside risk | -3.61 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.87 | -0.50 |
| Calmar ratioReturn relative to maximum drawdown | 2.64 | 7.94 | -5.29 |
| Martin ratioReturn relative to average drawdown | 9.13 | 34.25 | -25.13 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| UMAX.TO | CBNK.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.03 | 5.12 | -3.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.00 | 1.10 | -0.10 |
Drawdowns
UMAX.TO vs. CBNK.TO - Drawdown Comparison
The maximum UMAX.TO drawdown since its inception was -10.09%, smaller than the maximum CBNK.TO drawdown of -32.12%. Use the drawdown chart below to compare losses from any high point for UMAX.TO and CBNK.TO.
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Drawdown Indicators
| UMAX.TO | CBNK.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.09% | -32.12% | +22.03% |
Max Drawdown (1Y)Largest decline over 1 year | -5.11% | -10.03% | +4.92% |
Max Drawdown (3Y)Largest decline over 3 years | — | -17.92% | — |
Current DrawdownCurrent decline from peak | -0.47% | -2.29% | +1.82% |
Average DrawdownAverage peak-to-trough decline | -2.06% | -10.92% | +8.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.50% | 2.32% | -0.82% |
Volatility
UMAX.TO vs. CBNK.TO - Volatility Comparison
The current volatility for Hamilton Utilities YIELD MAXIMIZER ETF (UMAX.TO) is 1.93%, while Mulvihill Canadian Bank Enhanced Yield ETF (CBNK.TO) has a volatility of 5.67%. This indicates that UMAX.TO experiences smaller price fluctuations and is considered to be less risky than CBNK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UMAX.TO | CBNK.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.93% | 5.67% | -3.74% |
Volatility (6M)Calculated over the trailing 6-month period | 5.54% | 13.29% | -7.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.65% | 15.55% | -8.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.68% | 17.55% | -8.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.68% | 17.55% | -8.87% |
Dividends
UMAX.TO vs. CBNK.TO - Dividend Comparison
UMAX.TO's dividend yield for the trailing twelve months is around 14.00%, more than CBNK.TO's 5.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CBNK.TO Mulvihill Canadian Bank Enhanced Yield ETF | 5.94% | 5.86% | 8.25% | 9.59% | 7.85% |
UMAX.TO Hamilton Utilities YIELD MAXIMIZER ETF | 14.00% | 14.86% | 14.81% | 6.96% | 0.00% |
Frequently Asked Questions
UMAX.TO and CBNK.TO have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Hamilton Capital and Mulvihill.
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