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Hamilton Canadian Financials Yield Maximizer ETF (HMAX) and Hamilton U.S. Equity Yield Maximizer ETF (SMAX) offer distinct profiles for Canadian ETF investors. A direct comparison shows that HMAX focuses its top 3 sector exposures on Finance, while SMAX leans towards Technology, Finance, and Healthcare. When evaluating costs, HMAX features a management fee (MER) of 0.65%, compared to 0.65% for SMAX. Performance-wise, HMAX has returned 17.05% year-to-date with +$413 M in net flows, whereas SMAX is at 16.97% with +$184 M. 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
HMAX
SMAX
| AuM | $2,531.62 M | $1,114.10 M |
| Management Fees | 0.65% | 0.65% |
| Exp. ratio | 0.76% | 0.77% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | HMAX | -2.43% | +2.26% | +17.05% | +29.05% | +89.60% |
SMAX | -0.75% | +2.28% | +16.97% | +23.52% | - | |
| Flows | HMAX | +$38 M | +$135 M | +$413 M | +$646 M | +$1,610 M |
SMAX | +$38 M | +$76 M | +$184 M | +$147 M | - |
HMAX vs SMAX exposure
Countries
HMAX
Canada
100.21%
SMAX
USA
97.15%
Sectors
HMAX
Finance
100.21%
SMAX
Technology
43.20%
Finance
16.37%
Healthcare
8.46%
Industrials
8.37%
Consumer Non-Cyclicals
7.92%
Other
15.68%
As of September 11, 2026
Top 10 Holdings
HMAX
Royal Bank of Canada
24.88%
The Toronto-Dominion Bank
16.81%
Bank of Montreal
10.73%
Canadian Imperial Bank of Commerce
9.16%
The Bank of Nova Scotia
9.10%
Brookfield Corp.
8.84%
Manulife Financial Corp.
6.30%
National Bank of Canada
5.42%
Great-West Lifeco, Inc.
5.08%
Sun Life Financial, Inc.
3.89%
SMAX
Advanced Micro Devices, Inc.
5.45%
Micron Technology, Inc.
5.16%
Cisco Systems, Inc.
5.09%
Amazon.com, Inc.
4.60%
Eli Lilly & Co.
4.51%
Apple, Inc.
4.43%
GE Aerospace
4.37%
Microsoft Corp.
4.35%
JPMorgan Chase & Co.
4.32%
Visa, Inc.
4.28%
Diversification
HMAX
Total weight of top 10 holdings out of 10 total
100.21%
SMAX
Total weight of top 10 holdings out of 25 total
46.56%
Characteristics
Compare
HMAX
SMAX
| Provider | Hamilton ETFs | Hamilton ETFs |
| Management | Actively managed | Actively managed |
| Benchmark | - | - |
| Replication Method | ||
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 11.37% | 10.19% |
| Meets ESG criteria | No | No |
| Inception Date | January 20, 2023 | October 25, 2023 |
Frequently asked questions about HMAX and SMAX
Which ETF has performed better year to date: HMAX or SMAX?
As of September 11, 2026, HMAX has returned 17.05% year to date, while SMAX has returned 16.97%. HMAX is ahead on YTD performance.
Which ETF is larger by assets under management: HMAX or SMAX?
As of September 11, 2026, HMAX manages $2.53 B in assets, while SMAX manages $1.11 B. HMAX is the larger fund by AUM.
How are HMAX and SMAX managed?
HMAX is actively managed by Hamilton ETFs. It does not track an index. SMAX is actively managed by Hamilton ETFs. It does not track an index.
What sectors do HMAX and SMAX emphasize?
HMAX is most exposed to Finance. SMAX is most exposed to Technology, Finance, and Healthcare.
Which ETF is attracting more investor flows: HMAX or SMAX?
Year to date, HMAX has seen +$412.64 M in net flows, compared with +$183.53 M for SMAX. HMAX has attracted more net investor money so far.
How do the fees of HMAX and SMAX compare?
HMAX has an expense ratio of 0.76%, while SMAX has an expense ratio of 0.77%.
What are the top holdings of HMAX and SMAX?
HMAX's largest holdings include Royal Bank of Canada, The Toronto-Dominion Bank, and Bank of Montreal. SMAX's top holdings include Advanced Micro Devices, Inc., Micron Technology, Inc., and Cisco Systems, Inc..
Which ETF is more diversified: HMAX or SMAX?
HMAX holds 10 securities, while SMAX holds 25. On holdings count, SMAX is the more diversified portfolio.
Recent articles about HMAX and SMAX
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