UMAX.TO vs. ENB-PD.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Hamilton Utilities YIELD MAXIMIZER ETF (UMAX.TO) and Enbridge Inc. (ENB-PD.TO).

UMAX.TO is an actively managed fund by Hamilton Capital. It was launched on Jun 14, 2023.

Performance

UMAX.TO vs. ENB-PD.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Hamilton Utilities YIELD MAXIMIZER ETF (UMAX.TO) and Enbridge Inc. (ENB-PD.TO). The values are adjusted to include any dividend payments, if applicable.

UMAX.TO vs. ENB-PD.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
UMAX.TO Hamilton Utilities YIELD MAXIMIZER ETF	4.87%	9.95%	5.97%	0.81%
ENB-PD.TO Enbridge Inc.	0.83%	21.84%	24.80%	-0.47%

Returns By Period

In the year-to-date period, UMAX.TO achieves a 4.87% return, which is significantly higher than ENB-PD.TO's 0.83% return.

UMAX.TO

• 1D: -0.84%
• 1M: -2.21%
• YTD: 4.87%
• 6M: 5.47%
• 1Y: 11.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ENB-PD.TO

• 1D: 0.70%
• 1M: -1.00%
• YTD: 0.83%
• 6M: 7.62%
• 1Y: 19.11%
• 3Y*: 14.56%
• 5Y*: 12.97%
• 10Y*: 11.57%

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

Return for Risk

UMAX.TO vs. ENB-PD.TO — Risk / Return Rank

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

UMAX.TO

UMAX.TO Risk / Return Rank: 78
UMAX.TO Sharpe Ratio Rank: 79
UMAX.TO Sortino Ratio Rank: 79
UMAX.TO Omega Ratio Rank: 76
UMAX.TO Calmar Ratio Rank: 74
UMAX.TO Martin Ratio Rank: 81

ENB-PD.TO

ENB-PD.TO Risk / Return Rank: 84
ENB-PD.TO Sharpe Ratio Rank: 89
ENB-PD.TO Sortino Ratio Rank: 82
ENB-PD.TO Omega Ratio Rank: 92
ENB-PD.TO Calmar Ratio Rank: 74
ENB-PD.TO Martin Ratio Rank: 84

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.

UMAX.TO vs. ENB-PD.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hamilton Utilities YIELD MAXIMIZER ETF (UMAX.TO) and Enbridge Inc. (ENB-PD.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	ENB-PD.TO	Difference
Sharpe ratio Return per unit of total volatility	1.44	1.80	-0.36
Sortino ratio Return per unit of downside risk	2.00	2.23	-0.23
Omega ratio Gain probability vs. loss probability	1.28	1.43	-0.15
Calmar ratio Return relative to maximum drawdown	1.85	1.73	+0.12
Martin ratio Return relative to average drawdown	8.59	7.56	+1.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UMAX.TO vs. ENB-PD.TO - Sharpe Ratio Comparison

The current UMAX.TO Sharpe Ratio is 1.44, which is comparable to the ENB-PD.TO Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of UMAX.TO and ENB-PD.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

	UMAX.TO	ENB-PD.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.44	1.80	-0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.05	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.67	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	0.30	+0.60

Correlation

The correlation between UMAX.TO and ENB-PD.TO is 0.21, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

UMAX.TO vs. ENB-PD.TO - Dividend Comparison

UMAX.TO's dividend yield for the trailing twelve months is around 13.09%, more than ENB-PD.TO's 6.24% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UMAX.TO Hamilton Utilities YIELD MAXIMIZER ETF	13.09%	14.86%	14.81%	6.96%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ENB-PD.TO Enbridge Inc.	6.24%	6.19%	7.05%	7.79%	6.42%	5.60%	8.15%	7.03%	6.50%	5.07%	5.83%	6.19%

Drawdowns

UMAX.TO vs. ENB-PD.TO - Drawdown Comparison

The maximum UMAX.TO drawdown since its inception was -10.09%, smaller than the maximum ENB-PD.TO drawdown of -49.63%. Use the drawdown chart below to compare losses from any high point for UMAX.TO and ENB-PD.TO.

Drawdown Indicators

	UMAX.TO	ENB-PD.TO	Difference
Max Drawdown Largest peak-to-trough decline	-10.09%	-49.63%	+39.54%
Max Drawdown (1Y) Largest decline over 1 year	-6.23%	-11.57%	+5.34%
Max Drawdown (5Y) Largest decline over 5 years	—	-21.95%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-49.63%	—
Current Drawdown Current decline from peak	-2.84%	-1.59%	-1.25%
Average Drawdown Average peak-to-trough decline	-2.05%	-10.48%	+8.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.39%	2.65%	-1.26%

Volatility

UMAX.TO vs. ENB-PD.TO - Volatility Comparison

Hamilton Utilities YIELD MAXIMIZER ETF (UMAX.TO) has a higher volatility of 2.22% compared to Enbridge Inc. (ENB-PD.TO) at 1.79%. This indicates that UMAX.TO's price experiences larger fluctuations and is considered to be riskier than ENB-PD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UMAX.TO	ENB-PD.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.22%	1.79%	+0.43%
Volatility (6M) Calculated over the trailing 6-month period	4.78%	5.36%	-0.58%
Volatility (1Y) Calculated over the trailing 1-year period	7.81%	10.66%	-2.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.68%	12.43%	-3.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.68%	17.33%	-8.65%