UMVP.TO vs. CMAX.TO

Last updated Jun 4, 2026

UMVP.TO (Hamilton Champions Utilities Index ETF) and CMAX.TO (Hamilton Canadian Equity YIELD MAXIMIZER ETF) are both exchange-traded funds - UMVP.TO is a Utilities Equities fund tracking the Solactive Canadian Utility Services High Dividend Index, while CMAX.TO is a Derivative Income fund actively managed by Hamilton. UMVP.TO is passively managed, while CMAX.TO is actively managed. At a 0.28 correlation, their price movements are largely independent.

Performance

UMVP.TO vs. CMAX.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Hamilton Champions Utilities Index ETF (UMVP.TO) and Hamilton Canadian Equity YIELD MAXIMIZER ETF (CMAX.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

UMVP.TO

• 1D: -0.17%
• 1M: 4.40%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CMAX.TO

• 1D: 0.00%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UMVP.TO vs. CMAX.TO - Yearly Performance Comparison

	2026 (YTD)
UMVP.TO Hamilton Champions Utilities Index ETF	3.39%
CMAX.TO Hamilton Canadian Equity YIELD MAXIMIZER ETF	1.54%

Correlation

The correlation between UMVP.TO and CMAX.TO is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 12, 2026	0.28

Return for Risk

UMVP.TO vs. CMAX.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hamilton Champions Utilities Index ETF (UMVP.TO) and Hamilton Canadian Equity YIELD MAXIMIZER ETF (CMAX.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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	UMVP.TO	CMAX.TO	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	5.03	2.84	+2.19

Drawdowns

UMVP.TO vs. CMAX.TO - Drawdown Comparison

The maximum UMVP.TO drawdown since its inception was -4.57%, which is greater than CMAX.TO's maximum drawdown of -1.48%. Use the drawdown chart below to compare losses from any high point for UMVP.TO and CMAX.TO.

Drawdown Indicators

	UMVP.TO	CMAX.TO	Difference
Max Drawdown Largest peak-to-trough decline	-4.57%	-1.48%	-3.09%
Current Drawdown Current decline from peak	-0.96%	-0.38%	-0.58%
Average Drawdown Average peak-to-trough decline	-0.81%	-0.54%	-0.27%

Volatility

Volatility by Period

	UMVP.TO	CMAX.TO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	9.11%	9.88%	-0.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.11%	9.88%	-0.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.11%	9.88%	-0.77%

Dividends

UMVP.TO vs. CMAX.TO - Dividend Comparison

UMVP.TO's dividend yield for the trailing twelve months is around 1.44%, more than CMAX.TO's 0.91% yield.

Position	TTM
CMAX.TO Hamilton Canadian Equity YIELD MAXIMIZER ETF	0.91%
UMVP.TO Hamilton Champions Utilities Index ETF	1.44%

Frequently Asked Questions

Can I hold both UMVP.TO and CMAX.TO in my portfolio?

UMVP.TO and CMAX.TO have a correlation of 0.28, 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 UMVP.TO and CMAX.TO?

UMVP.TO is categorized as Utilities Equities, while CMAX.TO is Derivative Income.