UMVP.TO vs. UMAX.TO

Last updated Jun 4, 2026

UMVP.TO (Hamilton Champions Utilities Index ETF) and UMAX.TO (Hamilton Utilities 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 UMAX.TO is a Derivative Income fund actively managed by Hamilton Capital. UMVP.TO is passively managed, while UMAX.TO is actively managed. Their correlation of 0.82 suggests significant overlap in exposure.

Performance

UMVP.TO vs. UMAX.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 Utilities YIELD MAXIMIZER ETF (UMAX.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*: —

UMAX.TO

• 1D: 0.19%
• 1M: 3.71%
• YTD: 8.78%
• 6M: 8.52%
• 1Y: 13.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

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

	2026 (YTD)
UMVP.TO Hamilton Champions Utilities Index ETF	14.69%
UMAX.TO Hamilton Utilities YIELD MAXIMIZER ETF	8.62%

Correlation

The correlation between UMVP.TO and UMAX.TO is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 22, 2026	0.82

Return for Risk

UMVP.TO vs. UMAX.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: 58
UMAX.TO Sharpe Ratio Rank: 59
UMAX.TO Sortino Ratio Rank: 68
UMAX.TO Omega Ratio Rank: 60
UMAX.TO Calmar Ratio Rank: 53
UMAX.TO Martin Ratio Rank: 53

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.

UMVP.TO vs. UMAX.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 Utilities YIELD MAXIMIZER ETF (UMAX.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	UMAX.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.03	—
Sharpe Ratio (All Time) Calculated using the full available price history	5.03	1.00	+4.03

Drawdowns

UMVP.TO vs. UMAX.TO - Drawdown Comparison

The maximum UMVP.TO drawdown since its inception was -4.57%, smaller than the maximum UMAX.TO drawdown of -10.09%. Use the drawdown chart below to compare losses from any high point for UMVP.TO and UMAX.TO.

Drawdown Indicators

	UMVP.TO	UMAX.TO	Difference
Max Drawdown Largest peak-to-trough decline	-4.57%	-10.09%	+5.52%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.11%	—
Current Drawdown Current decline from peak	-0.96%	-0.47%	-0.49%
Average Drawdown Average peak-to-trough decline	-0.81%	-2.06%	+1.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.50%	—

Volatility

Volatility by Period

	UMVP.TO	UMAX.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.93%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.54%	—
Volatility (1Y) Calculated over the trailing 1-year period	9.11%	6.65%	+2.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.11%	8.68%	+0.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.11%	8.68%	+0.43%

Dividends

UMVP.TO vs. UMAX.TO - Dividend Comparison

UMVP.TO's dividend yield for the trailing twelve months is around 1.44%, less than UMAX.TO's 14.00% yield.

Position	TTM	2025	2024	2023
UMAX.TO Hamilton Utilities YIELD MAXIMIZER ETF	14.00%	14.86%	14.81%	6.96%
UMVP.TO Hamilton Champions Utilities Index ETF	1.44%	0.00%	0.00%	0.00%

Frequently Asked Questions

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

UMVP.TO and UMAX.TO have a correlation of 0.82, 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 UMAX.TO?

UMVP.TO is categorized as Utilities Equities, while UMAX.TO is Derivative Income. They also come from different issuers: Hamilton and Hamilton Capital.