XCHP.TO vs. EMAX.TO

Last updated Jun 4, 2026

XCHP.TO (iShares Semiconductor Index ETF) and EMAX.TO (Hamilton Energy YIELD MAXIMIZER ETF) are both exchange-traded funds - XCHP.TO is a Semiconductors fund tracking the NYSE Semiconductor Index, while EMAX.TO is a Energy Equities fund actively managed by Hamilton Capital. XCHP.TO is passively managed, while EMAX.TO is actively managed. Over the past year, XCHP.TO returned 192.43% vs 48.14% for EMAX.TO. At a 0.12 correlation, their price movements are largely independent. XCHP.TO charges 0.39%/yr vs 0.65%/yr for EMAX.TO.

Performance

XCHP.TO vs. EMAX.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Semiconductor Index ETF (XCHP.TO) and Hamilton Energy YIELD MAXIMIZER ETF (EMAX.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XCHP.TO achieves a 106.85% return, which is significantly higher than EMAX.TO's 30.76% return.

XCHP.TO

• 1D: 2.19%
• 1M: 35.96%
• YTD: 106.85%
• 6M: 98.47%
• 1Y: 192.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EMAX.TO

• 1D: 1.73%
• 1M: 0.51%
• YTD: 30.76%
• 6M: 24.14%
• 1Y: 48.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XCHP.TO vs. EMAX.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XCHP.TO iShares Semiconductor Index ETF	106.85%	33.58%	15.11%
EMAX.TO Hamilton Energy YIELD MAXIMIZER ETF	30.76%	4.63%	3.60%

Correlation

The correlation between XCHP.TO and EMAX.TO is -0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.00
Correlation (All Time) Calculated using the full available price history since Feb 8, 2024	0.12

The correlation between XCHP.TO and EMAX.TO shifts across timeframes, from -0.00 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.

Return for Risk

XCHP.TO vs. EMAX.TO — Risk / Return Rank

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

XCHP.TO

XCHP.TO Risk / Return Rank: 97
XCHP.TO Sharpe Ratio Rank: 98
XCHP.TO Sortino Ratio Rank: 96
XCHP.TO Omega Ratio Rank: 95
XCHP.TO Calmar Ratio Rank: 98
XCHP.TO Martin Ratio Rank: 97

EMAX.TO

EMAX.TO Risk / Return Rank: 70
EMAX.TO Sharpe Ratio Rank: 74
EMAX.TO Sortino Ratio Rank: 68
EMAX.TO Omega Ratio Rank: 64
EMAX.TO Calmar Ratio Rank: 77
EMAX.TO Martin Ratio Rank: 68

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.

XCHP.TO vs. EMAX.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Semiconductor Index ETF (XCHP.TO) and Hamilton Energy YIELD MAXIMIZER ETF (EMAX.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.

	XCHP.TO	EMAX.TO	Difference
Sharpe ratio: Return per unit of total volatility	5.86	2.42	+3.44
Sortino ratio: Return per unit of downside risk	5.48	3.13	+2.36
Omega ratio: Gain probability vs. loss probability	1.75	1.39	+0.36
Calmar ratio: Return relative to maximum drawdown	13.99	3.90	+10.08
Martin ratio: Return relative to average drawdown	49.96	12.55	+37.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XCHP.TO vs. EMAX.TO - Sharpe Ratio Comparison

The current XCHP.TO Sharpe Ratio is 5.86, which is higher than the EMAX.TO Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of XCHP.TO and EMAX.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.

Sharpe Ratios by Period

	XCHP.TO	EMAX.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.86	2.42	+3.44
Sharpe Ratio (All Time) Calculated using the full available price history	1.91	0.73	+1.18

Drawdowns

XCHP.TO vs. EMAX.TO - Drawdown Comparison

The maximum XCHP.TO drawdown since its inception was -38.95%, which is greater than EMAX.TO's maximum drawdown of -27.55%. Use the drawdown chart below to compare losses from any high point for XCHP.TO and EMAX.TO.

Drawdown Indicators

	XCHP.TO	EMAX.TO	Difference
Max Drawdown Largest peak-to-trough decline	-38.95%	-27.55%	-11.40%
Max Drawdown (1Y) Largest decline over 1 year	-14.22%	-12.39%	-1.83%
Current Drawdown Current decline from peak	0.00%	-3.72%	+3.72%
Average Drawdown Average peak-to-trough decline	-8.67%	-9.31%	+0.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.95%	3.85%	+0.10%

Volatility

XCHP.TO vs. EMAX.TO - Volatility Comparison

iShares Semiconductor Index ETF (XCHP.TO) has a higher volatility of 13.24% compared to Hamilton Energy YIELD MAXIMIZER ETF (EMAX.TO) at 7.47%. This indicates that XCHP.TO's price experiences larger fluctuations and is considered to be riskier than EMAX.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XCHP.TO	EMAX.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.24%	7.47%	+5.77%
Volatility (6M) Calculated over the trailing 6-month period	26.74%	15.32%	+11.42%
Volatility (1Y) Calculated over the trailing 1-year period	34.06%	20.03%	+14.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.53%	22.41%	+16.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.53%	22.41%	+16.12%

XCHP.TO vs. EMAX.TO - Expense Ratio Comparison

XCHP.TO has a 0.39% expense ratio, which is lower than EMAX.TO's 0.65% expense ratio.

Dividends

XCHP.TO vs. EMAX.TO - Dividend Comparison

XCHP.TO's dividend yield for the trailing twelve months is around 0.21%, less than EMAX.TO's 10.25% yield.

Position	TTM	2025	2024	2023
EMAX.TO Hamilton Energy YIELD MAXIMIZER ETF	10.25%	13.44%	12.31%	0.00%
XCHP.TO iShares Semiconductor Index ETF	0.21%	0.43%	0.29%	0.17%

Frequently Asked Questions

Can I hold both XCHP.TO and EMAX.TO in my portfolio?

XCHP.TO and EMAX.TO have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XCHP.TO or EMAX.TO?

On fees, XCHP.TO is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XCHP.TO or EMAX.TO?

XCHP.TO is cheaper with a 0.39% expense ratio, compared with 0.65% for EMAX.TO.

What is the main difference between XCHP.TO and EMAX.TO?

XCHP.TO is categorized as Semiconductors, while EMAX.TO is Energy Equities. They also come from different issuers: iShares and Hamilton Capital. Their fees differ too: 0.39% for XCHP.TO and 0.65% for EMAX.TO.