ZHU.TO vs. LMAX.TO

Last updated Jul 1, 2026

ZHU.TO (BMO Equal Weight US Health Care Index ETF) and LMAX.TO (Hamilton Healthcare Yield Maximizer ETF) are both Health & Biotech Equities funds. Over the past year, ZHU.TO returned 20.88% vs 14.44% for LMAX.TO. At a 0.31 correlation, their price movements are largely independent.

Performance

ZHU.TO vs. LMAX.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Equal Weight US Health Care Index ETF (ZHU.TO) and Hamilton Healthcare Yield Maximizer ETF (LMAX.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ZHU.TO achieves a 7.66% return, which is significantly higher than LMAX.TO's 2.35% return.

ZHU.TO

• 1D: -0.60%
• 1M: 9.89%
• YTD: 7.66%
• 6M: 7.98%
• 1Y: 20.88%
• 3Y*: 5.56%
• 5Y*: 2.44%
• 10Y*: —

LMAX.TO

• 1D: -1.15%
• 1M: 6.97%
• YTD: 2.35%
• 6M: 2.15%
• 1Y: 14.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ZHU.TO vs. LMAX.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ZHU.TO BMO Equal Weight US Health Care Index ETF	7.66%	3.43%	2.50%
LMAX.TO Hamilton Healthcare Yield Maximizer ETF	2.35%	7.07%	4.45%

Correlation

The correlation between ZHU.TO and LMAX.TO is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (All Time) Calculated using the full available price history since Feb 7, 2024	0.31

Return for Risk

ZHU.TO vs. LMAX.TO — Risk / Return Rank

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

ZHU.TO

ZHU.TO Risk / Return Rank: 38
ZHU.TO Sharpe Ratio Rank: 38
ZHU.TO Sortino Ratio Rank: 40
ZHU.TO Omega Ratio Rank: 37
ZHU.TO Calmar Ratio Rank: 44
ZHU.TO Martin Ratio Rank: 32

LMAX.TO

LMAX.TO Risk / Return Rank: 29
LMAX.TO Sharpe Ratio Rank: 32
LMAX.TO Sortino Ratio Rank: 32
LMAX.TO Omega Ratio Rank: 29
LMAX.TO Calmar Ratio Rank: 26
LMAX.TO Martin Ratio Rank: 24

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.

ZHU.TO vs. LMAX.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Equal Weight US Health Care Index ETF (ZHU.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.

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.

	ZHU.TO	LMAX.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.21	1.06	+0.15
Sortino ratio: Return per unit of downside risk	1.79	1.59	+0.20
Omega ratio: Gain probability vs. loss probability	1.22	1.19	+0.03
Calmar ratio: Return relative to maximum drawdown	1.91	1.19	+0.72
Martin ratio: Return relative to average drawdown	4.19	2.80	+1.39

ZHU.TO vs. LMAX.TO - Sharpe Ratio Comparison

The current ZHU.TO Sharpe Ratio is 1.21, which is comparable to the LMAX.TO Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of ZHU.TO and LMAX.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

ZHU.TO vs. LMAX.TO - Drawdown Comparison

The maximum ZHU.TO drawdown since its inception was -27.25%, which is greater than LMAX.TO's maximum drawdown of -15.89%. Use the drawdown chart below to compare losses from any high point for ZHU.TO and LMAX.TO.

Drawdown Indicators

	ZHU.TO	LMAX.TO	Difference
Max Drawdown Largest peak-to-trough decline	-27.25%	-15.89%	-11.36%
Max Drawdown (1Y) Largest decline over 1 year	-10.95%	-12.16%	+1.21%
Max Drawdown (3Y) Largest decline over 3 years	-21.51%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.25%	—	—
Current Drawdown Current decline from peak	-0.60%	-2.70%	+2.10%
Average Drawdown Average peak-to-trough decline	-8.83%	-5.21%	-3.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.99%	5.16%	-0.17%

Volatility

ZHU.TO vs. LMAX.TO - Volatility Comparison

BMO Equal Weight US Health Care Index ETF (ZHU.TO) has a higher volatility of 6.01% compared to Hamilton Healthcare Yield Maximizer ETF (LMAX.TO) at 4.33%. This indicates that ZHU.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.

Volatility by Period

	ZHU.TO	LMAX.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.01%	4.33%	+1.68%
Volatility (6M) Calculated over the trailing 6-month period	12.63%	9.99%	+2.64%
Volatility (1Y) Calculated over the trailing 1-year period	17.34%	13.70%	+3.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.17%	13.76%	+2.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.60%	13.76%	+3.84%

Dividends

ZHU.TO vs. LMAX.TO - Dividend Comparison

ZHU.TO's dividend yield for the trailing twelve months is around 0.50%, less than LMAX.TO's 12.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
LMAX.TO Hamilton Healthcare Yield Maximizer ETF	12.55%	12.51%	11.35%	0.00%	0.00%	0.00%	0.00%	0.00%
ZHU.TO BMO Equal Weight US Health Care Index ETF	0.50%	0.54%	0.58%	0.97%	0.43%	0.13%	0.37%	0.17%

Frequently Asked Questions

Can I hold both ZHU.TO and LMAX.TO in my portfolio?

ZHU.TO and LMAX.TO have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.