XHC.TO vs. LMAX.TO
XHC.TO (iShares Global Healthcare Index ETF (CAD-Hedged)) and LMAX.TO (Hamilton Healthcare Yield Maximizer ETF) are both Health & Biotech Equities funds. XHC.TO is passively managed, while LMAX.TO is actively managed. Over the past year, XHC.TO returned 7.72% vs 7.58% for LMAX.TO. Their correlation of 0.82 suggests significant overlap in exposure. XHC.TO charges 0.66%/yr vs 0.65%/yr for LMAX.TO.
Performance
XHC.TO vs. LMAX.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XHC.TO achieves a -5.65% return, which is significantly lower than LMAX.TO's -4.95% return.
XHC.TO
- 1D
- 0.59%
- 1M
- 0.77%
- YTD
- -5.65%
- 6M
- -5.54%
- 1Y
- 7.72%
- 3Y*
- 2.70%
- 5Y*
- 3.54%
- 10Y*
- 6.87%
LMAX.TO
- 1D
- 1.06%
- 1M
- 1.95%
- YTD
- -4.95%
- 6M
- -6.28%
- 1Y
- 7.58%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XHC.TO vs. LMAX.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
XHC.TO iShares Global Healthcare Index ETF (CAD-Hedged) | -5.65% | 10.91% | -3.84% |
LMAX.TO Hamilton Healthcare Yield Maximizer ETF | -4.95% | 7.03% | 4.91% |
Correlation
The correlation between XHC.TO and LMAX.TO is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2024 | 0.82 |
The correlation between XHC.TO and LMAX.TO has been stable across timeframes, ranging from 0.82 to 0.85 - a consistent structural relationship.
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Return for Risk
XHC.TO vs. LMAX.TO — Risk / Return Rank
XHC.TO
LMAX.TO
XHC.TO vs. LMAX.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Healthcare Index ETF (CAD-Hedged) (XHC.TO) and Hamilton Healthcare Yield Maximizer ETF (LMAX.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.
| XHC.TO | LMAX.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.11 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.72 | 0.63 | +0.09 |
| Martin ratioReturn relative to average drawdown | 1.76 | 1.53 | +0.23 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XHC.TO | LMAX.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.54 | 0.58 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.26 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.67 | 0.21 | +0.46 |
Drawdowns
XHC.TO vs. LMAX.TO - Drawdown Comparison
The maximum XHC.TO drawdown since its inception was -27.28%, which is greater than LMAX.TO's maximum drawdown of -15.87%. Use the drawdown chart below to compare losses from any high point for XHC.TO and LMAX.TO.
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Drawdown Indicators
| XHC.TO | LMAX.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.28% | -15.87% | -11.41% |
Max Drawdown (1Y)Largest decline over 1 year | -10.79% | -12.16% | +1.37% |
Max Drawdown (3Y)Largest decline over 3 years | -18.81% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -18.81% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -27.28% | — | — |
Current DrawdownCurrent decline from peak | -9.76% | -9.67% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -4.85% | -5.21% | +0.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.39% | 4.95% | -0.56% |
Volatility
XHC.TO vs. LMAX.TO - Volatility Comparison
iShares Global Healthcare Index ETF (CAD-Hedged) (XHC.TO) has a higher volatility of 4.76% compared to Hamilton Healthcare Yield Maximizer ETF (LMAX.TO) at 4.38%. This indicates that XHC.TO's price experiences larger fluctuations and is considered to be riskier than LMAX.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XHC.TO | LMAX.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.76% | 4.38% | +0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 10.21% | 9.50% | +0.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.34% | 13.23% | +1.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.87% | 13.71% | +0.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.75% | 13.71% | +2.04% |
XHC.TO vs. LMAX.TO - Expense Ratio Comparison
XHC.TO has a 0.66% expense ratio, which is higher than LMAX.TO's 0.65% expense ratio.
Dividends
XHC.TO vs. LMAX.TO - Dividend Comparison
XHC.TO's dividend yield for the trailing twelve months is around 1.98%, less than LMAX.TO's 13.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LMAX.TO Hamilton Healthcare Yield Maximizer ETF | 13.45% | 12.51% | 11.36% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XHC.TO iShares Global Healthcare Index ETF (CAD-Hedged) | 1.98% | 1.87% | 4.42% | 2.38% | 0.84% | 0.79% | 0.96% | 1.07% | 1.68% | 1.14% | 1.63% | 2.15% |
Frequently Asked Questions
XHC.TO and LMAX.TO have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, LMAX.TO is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LMAX.TO is cheaper with a 0.65% expense ratio, compared with 0.66% for XHC.TO.
They also come from different issuers: iShares and Hamilton. Their fees differ too: 0.66% for XHC.TO and 0.65% for LMAX.TO.
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