HMAX.TO
Hamilton Canadian Financials YIELD MAXIMIZER TM ETF
Canadian
EQUITY
Active
MANAGEMENT STYLE
$ 2.4 B
ASSETS UNDER MGMT
65 bp
EXPENSES
Fund Basics
| Inception date | Jan 20, 2023 |
| Regulation | |
| Fund Website | link... |
| Distributions | |
| Currency | CAD |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| ROYAL BANK OF CANADA | 24.6 % |
| TORONTO-DOMINION BANK | 17.3 % |
| BROOKFIELD CORP | 10.7 % |
| BANK OF MONTREAL | 10.3 % |
| CAN IMPERIAL BK OF COMMERCE | 9.8 % |
| BANK OF NOVA SCOTIA | 9.1 % |
| MANULIFE FINANCIAL CORP | 6.0 % |
| NATIONAL BANK OF CANADA | 5.6 % |
| GREAT-WEST LIFECO INC | 4.9 % |
| INTACT FINANCIAL CORP | 3.3 % |
Constituent Breakdown
| Number of holdings | 12 |
| Herfindahl-Hirschman Index | 1,408 |
| Wgt avg mkt cap (mns) | $131,875 |
| Large cap (>$10bn) | 101.6% |
| Mid cap ($2-10bn) | 0.0% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 101.6% |
| Emerging mkts. | 0.0% |
Sector Breakdown
Country Exposure
 |
CANADA | 101.6 % |
Historical Performance
Standardized Performance (as of 05/31/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 5.6% | 19.7% | 11.9% | 6.5% | -- | -- | -- | 1.8% |
| Dividend Yield | 4.4% | 14.8% | 15.5% | 15.7% | -- | -- | -- | 15.4% |
| Total Returns | 10.1% | 34.5% | 27.3% | 22.2% | -- | -- | -- | 17.2% | Ann. Volatility | 12.9% | 9.9% | 11.5% | 11.3% | -- | -- | -- | 11.4% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.59 | 48% |
| MSCI EAFE | 0.44 | 44% |
| MSCI Emg Mkts | 0.27 | 28% |
Liquidity Measures
| Avg. volume (000) | 354 |
| ADV traded (mns) | $6 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.00% |
Technical Indicators
| 30d moving avg. (EMA) | $16.77 |
| Relative strength (RSI) | 62 |
| MACD/Signal | 0.26/0.26 |
| Bollinger Bands (Upper/Lower) | $17.45/$16.43 |
| Short interest (% of AUM) | 0.0% |
Distributions
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. HMAX.TO |
Expenses vs. HMAX.TO |
ALTAR Score™ vs. HMAX.TO |
|---|---|---|---|---|
| XFN.TO | iShares S&P/TSX Capped Financials Index ETF | 87.3% | -4 bp | +0.1% |
| HFN.TO | HAMILTON CHAMPIONS TM Canadian Financials Index ETF | 70.8% | -65 bp | -6.5% |
| HBNK.TO | Global X Equal Weight Canadian Banks Index ETF | 68.7% | -40 bp | -0.2% |
| BNC.TO | Purpose Canadian Financial Income Fund | 68.7% | +2 bp | -0.3% |
| HEB.TO | HAMILTON CHAMPIONS TM Canadian Bank Equal-Weight Index ETF | 68.7% | -40 bp | -0.2% |
| ZEB.TO | BMO Equal Weight Banks Index ETF | 68.4% | -40 bp | -0.1% |
| SIXY.TO | Evolve Big Six Canadian Banks UltraYield Index ETF | 68.3% | -5 bp | -0.5% |
| TBNK.TO | TD Canadian Bank Dividend Index ETF | 66.5% | -40 bp | -0.3% |
| CEW.TO | iShares Equal Weight Banc & Lifeco ETF | 65.1% | -10 bp | 0.0% |
| HCA.TO | Hamilton Canadian Bank Mean Reversion Index ETF | 63.0% | -20 bp | -0.5% |
Risk and Returns: HMAX.TO vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates (CAD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Book value per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 6/4/2026
Peer Group Comparison
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ETF Research Center Rating
6.5%
ALTAR SCORE™
66th
PERCENTILE
OVERWEIGHT
ETFRC RATING
There are 104 funds in the Canadian Equity category with an average
ALTAR Score™ of 5.9% and a standard deviation
of 1.4%. HMAX.TO's ALTAR Score™ is approximately 0.4 standard
deviations above the category average. This places HMAX.TO in the 66th percentile
among funds in the category.
Sell-Side Consensus
$17.19
PRICE TARGET
+0.5%
UPSIDE