AMAX
Hamilton Gold Producer Yield Maximizer ETF

Full AMAX fund page
VS
ZWU
BMO Covered Call Utilities ETF

Full ZWU fund page

Hamilton Gold Producer Yield Maximizer ETF (AMAX) and BMO Covered Call Utilities ETF (ZWU) offer distinct profiles for Canadian ETF investors. A direct comparison shows that AMAX focuses its top 3 sector exposures on Non-Energy Materials, while ZWU leans towards Utilities, Energy, and Telecommunications. When evaluating costs, AMAX features a management fee (MER) of 0.65%, compared to 0.65% for ZWU. Performance-wise, AMAX has returned 12.77% year-to-date with +$97 M in net flows, whereas ZWU is at 11.54% with +$130 M. Use the comparison tool below to benchmark these funds across top 10 holdings, yield, sector weights and historical returns.

NAV Performance and Flows

-10.0-5.00.0%Jun 22Jun 29Jul 7Jul 14Jul 21

Key Data

Historical performance and flows

As of July 21, 2026
1M3MYTD1Y3Y
Perf.
AMAX
-9.00%-17.37%-12.77%+29.78%-
ZWU
-0.81%+4.43%+11.54%+14.73%+37.48%
Flows
AMAX
+$20 M+$54 M+$97 M+$174 M-
ZWU
+$37 M+$104 M+$130 M+$251 M+$275 M

AMAX vs ZWU exposure

Countries

AMAX
Canada
47.04%
USA
33.10%
South Africa
12.92%
United Kingdom
7.16%
ZWU
Canada
56.93%
USA
40.53%

Sectors

AMAX
Non-Energy Materials
100.22%
ZWU
Utilities
50.22%
Energy
27.21%
Telecommunications
20.46%
As of July 21, 2026

Top 10 Holdings

AMAX
Franco-Nevada Corp.
7.38%
Wheaton Precious Metals Corp.
7.20%
Endeavour Mining Plc
7.16%
Anglogold Ashanti Plc
7.09%
Newmont Corp.
6.95%
Barrick Mining Corp.
6.85%
Harmony Gold Mining Co. Ltd.
6.78%
Royal Gold, Inc.
6.77%
Pan American Silver Corp.
6.74%
Agnico Eagle Mines Ltd.
6.63%
ZWU
Fortis, Inc.
5.68%
Hydro One Ltd.
5.58%
TC Energy Corp.
5.39%
Enbridge, Inc.
5.24%
The Williams Cos., Inc.
4.76%
Pembina Pipeline Corp.
4.73%
Verizon Communications, Inc.
4.62%
Emera, Inc.
4.61%
The Southern Co.
4.13%
BCE, Inc.
4.07%

Diversification

AMAX
Total weight of top 10 holdings out of 15 total
69.54%
ZWU
Total weight of top 10 holdings out of 30 total
48.81%

Characteristics

Compare
AMAX
ZWU
ProviderHamilton ETFsBMO
ManagementActively managedActively managed
Benchmark--
Replication Method
Asset ClassEquityEquity
Dividend PolicyDistributingDistributing
Trailing 12m distribution yield10.59%7.05%
Meets ESG criteriaNoNo
Inception DateFebruary 6, 2024October 27, 2011

Frequently asked questions about AMAX and ZWU

Which ETF has performed better year to date: AMAX or ZWU?
As of July 21, 2026, AMAX has returned -12.77% year to date, while ZWU has returned 11.54%. ZWU is ahead on YTD performance.
Which ETF is larger by assets under management: AMAX or ZWU?
As of July 21, 2026, AMAX manages $463.54 M in assets, while ZWU manages $2.24 B. ZWU is the larger fund by AUM.
How are AMAX and ZWU managed?
AMAX is actively managed by Hamilton ETFs. It does not track an index. ZWU is actively managed by BMO. It does not track an index.
What sectors do AMAX and ZWU emphasize?
AMAX is most exposed to Non-Energy Materials. ZWU is most exposed to Utilities, Energy, and Telecommunications.
Which ETF is attracting more investor flows: AMAX or ZWU?
Year to date, AMAX has seen +$96.75 M in net flows, compared with +$130.44 M for ZWU. ZWU has attracted more net investor money so far.
How do the fees of AMAX and ZWU compare?
AMAX has an expense ratio of 0.80%, while ZWU has an expense ratio of 0.71%.
What are the top holdings of AMAX and ZWU?
AMAX's largest holdings include Franco-Nevada Corp., Wheaton Precious Metals Corp., and Endeavour Mining Plc. ZWU's top holdings include Fortis, Inc., Hydro One Ltd., and TC Energy Corp..
Which ETF is more diversified: AMAX or ZWU?
AMAX holds 15 securities, while ZWU holds 30. On holdings count, ZWU is the more diversified portfolio.

Recent articles about AMAX and ZWU

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