UMAX.TO vs. PYF.TO

Last updated Aug 5, 2026

UMAX.TO (Hamilton Utilities YIELD MAXIMIZER ETF) and PYF.TO (Purpose Premium Yield Fund Series ETF) are both exchange-traded funds - UMAX.TO is a Derivative Income fund actively managed by Hamilton, while PYF.TO is a Diversified Portfolio fund actively managed by Purpose. Both are actively managed. Over the past 3 years, UMAX.TO returned 9.58%/yr vs 6.69%/yr for PYF.TO. Their 0.26 correlation means their historical movements had little consistent relationship. UMAX.TO charges 0.65%/yr vs 0.78%/yr for PYF.TO.

Performance

UMAX.TO vs. PYF.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 Purpose Premium Yield Fund Series ETF (PYF.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UMAX.TO achieves a 8.91% return, which is significantly higher than PYF.TO's 3.37% return.

UMAX.TO

• 1D: -0.08%
• 1M: -0.39%
• 6M: 6.66%
• YTD: 8.91%
• 1Y: 13.74%
• 3Y*: 9.58%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.94%

PYF.TO

• 1D: 0.48%
• 1M: 1.88%
• 6M: 4.06%
• YTD: 3.37%
• 1Y: 4.21%
• 3Y*: 6.69%
• 5Y*: 6.22%
• 10Y*: 4.77%
• ALL TIME*: 4.74%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PYF.TO Purpose Premium Yield Fund Series ETF	CA$195.64K	CA$163.45K	CA$428.75K
UMAX.TO Hamilton Utilities YIELD MAXIMIZER ETF	CA$9.06M	CA$6.45M	CA$5.30M

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

	2026 (YTD)	2025	2024	2023
UMAX.TO Hamilton Utilities YIELD MAXIMIZER ETF	8.91%	9.90%	5.99%	0.18%
PYF.TO Purpose Premium Yield Fund Series ETF	3.37%	5.45%	7.42%	5.06%

Correlation

The correlation between UMAX.TO and PYF.TO is 0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.06
Correlation (3Y) Balances recent behavior with more history.	0.25
Correlation (All Time) Calculated using the full available price history since Jun 15, 2023	0.26

The correlation between UMAX.TO and PYF.TO shifts across timeframes, from 0.06 (1 year) to 0.26 (all time), reflecting how their relationship changes across market environments.

Return for Risk

UMAX.TO vs. PYF.TO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

UMAX.TO

UMAX.TO Risk / Return Rank: 69
UMAX.TO Sharpe Ratio Rank: 68
UMAX.TO Sortino Ratio Rank: 72
UMAX.TO Omega Ratio Rank: 70
UMAX.TO Calmar Ratio Rank: 69
UMAX.TO Martin Ratio Rank: 67

PYF.TO

PYF.TO Risk / Return Rank: 47
PYF.TO Sharpe Ratio Rank: 45
PYF.TO Sortino Ratio Rank: 46
PYF.TO Omega Ratio Rank: 49
PYF.TO Calmar Ratio Rank: 49
PYF.TO Martin Ratio Rank: 43

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

UMAX.TO vs. PYF.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hamilton Utilities YIELD MAXIMIZER ETF (UMAX.TO) and Purpose Premium Yield Fund Series ETF (PYF.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	UMAX.TO	PYF.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.79	1.29	+0.50
Sortino ratio: Return per unit of downside risk	2.63	1.91	+0.73
Omega ratio: Gain probability vs. loss probability	1.33	1.25	+0.08
Calmar ratio: Return relative to maximum drawdown	2.70	2.00	+0.70
Martin ratio: Return relative to average drawdown	9.09	5.34	+3.75

UMAX.TO vs. PYF.TO - Sharpe Ratio Comparison

The current UMAX.TO Sharpe Ratio is 1.79, which is higher than the PYF.TO Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of UMAX.TO and PYF.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.

Drawdowns

UMAX.TO vs. PYF.TO - Drawdown Comparison

The maximum UMAX.TO drawdown since its inception was -10.09%, smaller than the maximum PYF.TO drawdown of -20.53%. Use the drawdown chart below to compare losses from any high point for UMAX.TO and PYF.TO.

Drawdown Indicators

	UMAX.TO	PYF.TO	Difference
Max Drawdown Largest peak-to-trough decline	-10.09%	-20.53%	+10.44%
Max Drawdown (1Y) Largest decline over 1 year	-5.11%	-2.11%	-3.00%
Max Drawdown (3Y) Largest decline over 3 years	-8.34%	-5.57%	-2.77%
Max Drawdown (5Y) Largest decline over 5 years	—	-5.57%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-20.53%	—
Current Drawdown Current decline from peak	-2.77%	0.00%	-2.77%
Average Drawdown Average peak-to-trough decline	-1.99%	-0.97%	-1.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.51%	0.79%	+0.72%

Volatility

UMAX.TO vs. PYF.TO - Volatility Comparison

Hamilton Utilities YIELD MAXIMIZER ETF (UMAX.TO) has a higher volatility of 3.53% compared to Purpose Premium Yield Fund Series ETF (PYF.TO) at 1.05%. This indicates that UMAX.TO's price experiences larger fluctuations and is considered to be riskier than PYF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UMAX.TO	PYF.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.53%	1.05%	+2.48%
Volatility (6M) Calculated over the trailing 6-month period	6.56%	2.86%	+3.70%
Volatility (1Y) Calculated over the trailing 1-year period	7.74%	3.28%	+4.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.84%	5.26%	+3.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.84%	6.68%	+2.16%

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

UMAX.TO has a 0.65% expense ratio, which is lower than PYF.TO's 0.78% expense ratio.

Dividends

UMAX.TO vs. PYF.TO - Dividend Comparison

UMAX.TO's dividend yield for the trailing twelve months is around 14.10%, more than PYF.TO's 7.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
PYF.TO Purpose Premium Yield Fund Series ETF	7.04%	7.84%	7.66%	7.47%	5.78%	5.74%	5.69%	5.29%	5.38%	5.83%	6.59%
UMAX.TO Hamilton Utilities YIELD MAXIMIZER ETF	14.10%	14.85%	14.78%	6.96%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both UMAX.TO and PYF.TO in my portfolio?

UMAX.TO and PYF.TO have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UMAX.TO or PYF.TO?

On fees, UMAX.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, UMAX.TO or PYF.TO?

UMAX.TO is cheaper with a 0.65% expense ratio, compared with 0.78% for PYF.TO.

What is the main difference between UMAX.TO and PYF.TO?

UMAX.TO is categorized as Derivative Income, while PYF.TO is Diversified Portfolio. They also come from different issuers: Hamilton and Purpose. Their fees differ too: 0.65% for UMAX.TO and 0.78% for PYF.TO.