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UMAX.TO vs. ENCC.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

UMAX.TO vs. ENCC.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Hamilton Utilities YIELD MAXIMIZER ETF (UMAX.TO) and Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.TO).

UMAX.TO and ENCC.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UMAX.TO is an actively managed fund by Hamilton Capital. It was launched on Jun 14, 2023. ENCC.TO is an actively managed fund by Global X. It was launched on Apr 11, 2011.

Performance

UMAX.TO vs. ENCC.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 Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.TO). The values are adjusted to include any dividend payments, if applicable.

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UMAX.TO vs. ENCC.TO - Yearly Performance Comparison

2026 (YTD)202520242023
UMAX.TO
Hamilton Utilities YIELD MAXIMIZER ETF		4.87%9.95%5.97%0.81%
ENCC.TO
Global X Canadian Oil and Gas Equity Covered Call ETF		21.92%13.13%17.39%8.02%

Returns By Period

In the year-to-date period, UMAX.TO achieves a 4.87% return, which is significantly lower than ENCC.TO's 21.92% return.

UMAX.TO

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

ENCC.TO

1D
-1.79%
1M
7.40%
YTD
21.92%
6M
23.18%
1Y
30.35%
3Y*
21.01%
5Y*
27.08%
10Y*
9.18%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Hamilton Utilities YIELD MAXIMIZER ETF

Global X Canadian Oil and Gas Equity Covered Call ETF

Often compared with UMAX.TO:
UMAX.TO vs. HMAX.TOUMAX.TO vs. UTESUMAX.TO vs. AMAX.TOUMAX.TO vs. HCAL.TOUMAX.TO vs. ZWU.TOUMAX.TO vs. UTES.TOUMAX.TO vs. ENCL.TO
Often compared with ENCC.TO:
ENCC.TO vs. ENCL.TOENCC.TO vs. EMAX.TOENCC.TO vs. ZEOENCC.TO vs. HMAX.TOENCC.TO vs. XDIV.TOENCC.TO vs. XEQT.TOENCC.TO vs. ENS.TO

UMAX.TO vs. ENCC.TO - Expense Ratio Comparison

UMAX.TO has a 0.65% expense ratio, which is lower than ENCC.TO's 0.76% expense ratio.

ENCC.TO
Global X Canadian Oil and Gas Equity Covered Call ETF
UMAX.TO
Hamilton Utilities YIELD MAXIMIZER ETF

Return for Risk

UMAX.TO vs. ENCC.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: 7878
Overall Rank
UMAX.TO Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
UMAX.TO Sortino Ratio Rank: 7979
Sortino Ratio Rank
UMAX.TO Omega Ratio Rank: 7676
Omega Ratio Rank
UMAX.TO Calmar Ratio Rank: 7474
Calmar Ratio Rank
UMAX.TO Martin Ratio Rank: 8181
Martin Ratio Rank
ENCC.TO
ENCC.TO Risk / Return Rank: 8282
Overall Rank
ENCC.TO Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
ENCC.TO Sortino Ratio Rank: 8484
Sortino Ratio Rank
ENCC.TO Omega Ratio Rank: 9090
Omega Ratio Rank
ENCC.TO Calmar Ratio Rank: 7575
Calmar Ratio Rank
ENCC.TO Martin Ratio Rank: 7575
Martin Ratio Rank
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. ENCC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hamilton Utilities YIELD MAXIMIZER ETF (UMAX.TO) and Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.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.TOENCC.TODifference

Sharpe ratio

Return per unit of total volatility

1.44

1.76

-0.31

Sortino ratio

Return per unit of downside risk

2.00

2.16

-0.16

Omega ratio

Gain probability vs. loss probability

1.28

1.37

-0.09

Calmar ratio

Return relative to maximum drawdown

1.85

1.89

-0.04

Martin ratio

Return relative to average drawdown

8.59

7.61

+0.98

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. ENCC.TO - Sharpe Ratio Comparison

The current UMAX.TO Sharpe Ratio is 1.44, which is comparable to the ENCC.TO Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of UMAX.TO and ENCC.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.

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Sharpe Ratios by Period

UMAX.TOENCC.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.44

1.76

-0.31

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

1.17

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.32

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.90

0.00

+0.90

Correlation

The correlation between UMAX.TO and ENCC.TO is 0.32, 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. ENCC.TO - Dividend Comparison

UMAX.TO's dividend yield for the trailing twelve months is around 13.09%, more than ENCC.TO's 10.46% yield.

TTM20252024202320222021202020192018201720162015
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%
ENCC.TO
Global X Canadian Oil and Gas Equity Covered Call ETF		10.46%13.62%14.58%14.87%12.55%4.23%5.10%6.09%8.35%6.92%4.77%15.15%

Drawdowns

UMAX.TO vs. ENCC.TO - Drawdown Comparison

The maximum UMAX.TO drawdown since its inception was -10.09%, smaller than the maximum ENCC.TO drawdown of -89.91%. Use the drawdown chart below to compare losses from any high point for UMAX.TO and ENCC.TO.

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Drawdown Indicators

UMAX.TOENCC.TODifference

Max Drawdown

Largest peak-to-trough decline

-10.09%

-89.91%

+79.82%

Max Drawdown (1Y)

Largest decline over 1 year

-6.23%

-16.61%

+10.38%

Max Drawdown (5Y)

Largest decline over 5 years

—

-25.57%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-82.16%

—

Current Drawdown

Current decline from peak

-2.84%

-1.87%

-0.97%

Average Drawdown

Average peak-to-trough decline

-2.05%

-40.25%

+38.20%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.39%

4.13%

-2.74%

Volatility

UMAX.TO vs. ENCC.TO - Volatility Comparison

The current volatility for Hamilton Utilities YIELD MAXIMIZER ETF (UMAX.TO) is 2.22%, while Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.TO) has a volatility of 3.50%. This indicates that UMAX.TO experiences smaller price fluctuations and is considered to be less risky than ENCC.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.TOENCC.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.22%

3.50%

-1.28%

Volatility (6M)

Calculated over the trailing 6-month period

4.78%

9.78%

-5.00%

Volatility (1Y)

Calculated over the trailing 1-year period

7.81%

17.36%

-9.55%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

8.68%

23.28%

-14.60%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

8.68%

29.05%

-20.37%