VS
Hamilton Canadian Equity YIELD MAXIMIZER ETF (CMAX) and iShares Edge MSCI Min Vol Canada Index ETF (XMV) offer distinct profiles for Canadian ETF investors. A direct comparison shows that CMAX focuses its top 3 sector exposures on Finance, Energy, and Non-Energy Materials, while XMV leans towards Finance, Energy, and Consumer Non-Cyclicals. When evaluating costs, CMAX features a management fee (MER) of 0.65%, compared to 0.3% for XMV. Use the comparison tool below to benchmark these funds across top 10 holdings, yield, sector weights and historical returns.
NAV Performance and Flows
Key Data
Compare
CMAX
XMV
| AuM | $14.81 M | $395.95 M |
| Management Fees | 0.65% | 0.30% |
| Exp. ratio | 0.65% | 0.34% |
| Tracking Difference | - | -0.44% |
Historical performance and flows
As of September 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | CMAX | +0.16% | +3.66% | - | - | - |
XMV | -1.84% | +1.64% | +11.50% | +16.85% | +73.64% | |
| Flows | CMAX | +$3 M | +$10 M | - | - | - |
XMV | +$6 M | -$27 M | -$13 M | +$5 M | +$85 M |
CMAX vs XMV exposure
Countries
CMAX
Canada
67.03%
USA
29.11%
XMV
Canada
95.00%
Sectors
CMAX
Finance
39.63%
Energy
17.25%
Non-Energy Materials
11.90%
Technology
11.89%
Other
19.32%
XMV
Finance
37.09%
Energy
14.44%
Consumer Non-Cyclicals
9.63%
Industrials
8.22%
Non-Energy Materials
7.54%
Utilities
7.31%
Other
15.78%
As of September 11, 2026
Top 10 Holdings
CMAX
Royal Bank of Canada
9.44%
The Toronto-Dominion Bank
6.38%
Bank of Montreal
4.07%
Canadian Imperial Bank of Commerce
3.47%
The Bank of Nova Scotia
3.45%
Brookfield Corp.
3.35%
Manulife Financial Corp.
2.39%
National Bank of Canada
2.06%
Great-West Lifeco, Inc.
1.93%
Brookfield Infrastructure Partners LP
1.83%
XMV
Bank of Montreal
3.34%
Royal Bank of Canada
3.30%
The Bank of Nova Scotia
3.28%
Canadian National Railway Co.
3.23%
The Toronto-Dominion Bank
3.20%
Great-West Lifeco, Inc.
3.19%
Canadian Imperial Bank of Commerce
3.03%
Fortis, Inc.
2.94%
National Bank of Canada
2.91%
Canadian Pacific Kansas City Ltd.
2.83%
Diversification
CMAX
Total weight of top 10 holdings out of 93 total
38.37%
XMV
Total weight of top 10 holdings out of 72 total
31.24%
Characteristics
Compare
CMAX
XMV
| Provider | Hamilton ETFs | iShares |
| Management | Actively managed | Passively managed |
| Benchmark | - | MSCI Canada Minimum Volatility Total Return Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | - | 2.08% |
| Meets ESG criteria | No | No |
| Inception Date | May 8, 2026 | July 24, 2012 |
Frequently asked questions about CMAX and XMV
Which ETF is larger by assets under management: CMAX or XMV?
As of September 11, 2026, CMAX manages $14.81 M in assets, while XMV manages $395.95 M. XMV is the larger fund by AUM.
How are CMAX and XMV managed?
CMAX is actively managed by Hamilton ETFs. It does not track an index. XMV is passively managed by iShares. It tracks the MSCI Canada Minimum Volatility Total Return Index - CAD benchmark.
What sectors do CMAX and XMV emphasize?
CMAX is most exposed to Finance, Energy, and Non-Energy Materials. XMV is most exposed to Finance, Energy, and Consumer Non-Cyclicals.
How do the fees of CMAX and XMV compare?
CMAX has an expense ratio of 0.65%, while XMV has an expense ratio of 0.34%.
What are the top holdings of CMAX and XMV?
CMAX's largest holdings include Royal Bank of Canada, The Toronto-Dominion Bank, and Bank of Montreal. XMV's top holdings include Bank of Montreal, Royal Bank of Canada, and The Bank of Nova Scotia.
Which ETF is more diversified: CMAX or XMV?
CMAX holds 93 securities, while XMV holds 72. On holdings count, CMAX is the more diversified portfolio.
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All content on the ETF Market Canada is for your general information use only, Cboe is not responsible for any use of content by you outside this scope. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by Cboe and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions.