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ZUH.TO vs. LMAX.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

ZUH.TO vs. LMAX.TO

Last updated Apr 1, 2026

Compare and contrast key facts about BMO Equal Weight US Health Care Hedged to CAD Index ETF (ZUH.TO) and Hamilton Healthcare Yield Maximizer ETF (LMAX.TO).

ZUH.TO and LMAX.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZUH.TO is a passively managed fund by BMO that tracks the performance of the Solactive Equal Weight US Health Care Index CAD Hedged. It was launched on May 19, 2010. LMAX.TO is an actively managed fund by Hamilton. It was launched on Feb 6, 2024.

Performance

ZUH.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 Hedged to CAD Index ETF (ZUH.TO) and Hamilton Healthcare Yield Maximizer ETF (LMAX.TO). The values are adjusted to include any dividend payments, if applicable.

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

2026 (YTD)20252024
ZUH.TO
BMO Equal Weight US Health Care Hedged to CAD Index ETF		-5.48%6.34%-5.60%
LMAX.TO
Hamilton Healthcare Yield Maximizer ETF		-3.55%7.03%4.91%

Returns By Period

In the year-to-date period, ZUH.TO achieves a -5.48% return, which is significantly lower than LMAX.TO's -3.55% return.

ZUH.TO

1D
1.84%
1M
-7.73%
YTD
-5.48%
6M
1.92%
1Y
3.41%
3Y*
-1.80%
5Y*
-1.72%
10Y*
5.69%

LMAX.TO

1D
0.30%
1M
-6.57%
YTD
-3.55%
6M
3.86%
1Y
-3.87%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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BMO Equal Weight US Health Care Hedged to CAD Index ETF

Hamilton Healthcare Yield Maximizer ETF

Often compared with ZUH.TO:
ZUH.TO vs. HHL.TOZUH.TO vs. XHC.TOZUH.TO vs. VHTZUH.TO vs. HHLE.TOZUH.TO vs. ZQQ.TOZUH.TO vs. ZNQ.TOZUH.TO vs. ZCN.TO
Often compared with LMAX.TO:
LMAX.TO vs. HYLD-U.TOLMAX.TO vs. HBA.TOLMAX.TO vs. FMAX.TOLMAX.TO vs. HEB.TOLMAX.TO vs. HHL.TOLMAX.TO vs. MIX.TOLMAX.TO vs. CWIN.TO

ZUH.TO vs. LMAX.TO - Expense Ratio Comparison

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

LMAX.TO
Hamilton Healthcare Yield Maximizer ETF
ZUH.TO
BMO Equal Weight US Health Care Hedged to CAD Index ETF

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZUH.TO
ZUH.TO Risk / Return Rank: 1616
Overall Rank
ZUH.TO Sharpe Ratio Rank: 1616
Sharpe Ratio Rank
ZUH.TO Sortino Ratio Rank: 1616
Sortino Ratio Rank
ZUH.TO Omega Ratio Rank: 1515
Omega Ratio Rank
ZUH.TO Calmar Ratio Rank: 1717
Calmar Ratio Rank
ZUH.TO Martin Ratio Rank: 1717
Martin Ratio Rank
LMAX.TO
LMAX.TO Risk / Return Rank: 88
Overall Rank
LMAX.TO Sharpe Ratio Rank: 77
Sharpe Ratio Rank
LMAX.TO Sortino Ratio Rank: 77
Sortino Ratio Rank
LMAX.TO Omega Ratio Rank: 77
Omega Ratio Rank
LMAX.TO Calmar Ratio Rank: 99
Calmar Ratio Rank
LMAX.TO Martin Ratio Rank: 99
Martin Ratio Rank
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.

ZUH.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 Hedged to CAD Index ETF (ZUH.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.

ZUH.TOLMAX.TODifference

Sharpe ratio

Return per unit of total volatility

0.18

-0.23

+0.41

Sortino ratio

Return per unit of downside risk

0.39

-0.21

+0.60

Omega ratio

Gain probability vs. loss probability

1.05

0.97

+0.08

Calmar ratio

Return relative to maximum drawdown

0.26

-0.19

+0.45

Martin ratio

Return relative to average drawdown

0.83

-0.32

+1.15

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current ZUH.TO Sharpe Ratio is 0.18, which is higher than the LMAX.TO Sharpe Ratio of -0.23. The chart below compares the historical Sharpe Ratios of ZUH.TO and LMAX.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

ZUH.TOLMAX.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.18

-0.23

+0.41

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.10

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.31

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.61

0.28

+0.33

Correlation

The correlation between ZUH.TO and LMAX.TO is 0.70, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

ZUH.TO vs. LMAX.TO - Dividend Comparison

ZUH.TO's dividend yield for the trailing twelve months is around 0.58%, less than LMAX.TO's 11.91% yield.

TTM20252024202320222021202020192018201720162015
ZUH.TO
BMO Equal Weight US Health Care Hedged to CAD Index ETF		0.58%0.55%0.74%0.73%0.43%0.12%0.37%0.33%0.32%0.36%0.48%0.48%
LMAX.TO
Hamilton Healthcare Yield Maximizer ETF		11.91%12.51%11.36%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Drawdowns

ZUH.TO vs. LMAX.TO - Drawdown Comparison

The maximum ZUH.TO drawdown since its inception was -34.20%, 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 ZUH.TO and LMAX.TO.

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Drawdown Indicators

ZUH.TOLMAX.TODifference

Max Drawdown

Largest peak-to-trough decline

-34.20%

-15.87%

-18.33%

Max Drawdown (1Y)

Largest decline over 1 year

-11.59%

-12.62%

+1.03%

Max Drawdown (5Y)

Largest decline over 5 years

-34.20%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-34.20%

—

—

Current Drawdown

Current decline from peak

-23.82%

-8.34%

-15.48%

Average Drawdown

Average peak-to-trough decline

-9.07%

-4.90%

-4.17%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.62%

8.00%

-4.38%

Volatility

ZUH.TO vs. LMAX.TO - Volatility Comparison

BMO Equal Weight US Health Care Hedged to CAD Index ETF (ZUH.TO) has a higher volatility of 5.80% compared to Hamilton Healthcare Yield Maximizer ETF (LMAX.TO) at 3.75%. This indicates that ZUH.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

ZUH.TOLMAX.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.80%

3.75%

+2.05%

Volatility (6M)

Calculated over the trailing 6-month period

10.76%

9.73%

+1.03%

Volatility (1Y)

Calculated over the trailing 1-year period

19.46%

16.63%

+2.83%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.08%

13.68%

+3.40%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.53%

13.68%

+4.85%