VS
When evaluating costs, HMAX features a management fee (MER) of 0.65%, compared to 0.2% for VDY. Performance-wise, HMAX has returned 17.89% year-to-date with +$470 M in net flows, whereas VDY is at 29.32% with +$2 B. 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
VDY
| AuM | $2,583.03 M | $9,324.81 M |
| Management Fees | 0.65% | 0.20% |
| Exp. ratio | 0.76% | 0.22% |
| Tracking Difference | - | -0.03% |
Historical performance and flows
As of October 23, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | HMAX | +0.90% | -0.38% | +17.89% | +26.97% | +104.23% |
VDY | +2.91% | +0.41% | +29.32% | +39.80% | +135.95% | |
| Flows | HMAX | +$50 M | +$127 M | +$470 M | +$610 M | +$1,621 M |
VDY | +$66 M | +$264 M | +$2,080 M | +$2,435 M | +$3,959 M |
HMAX vs VDY exposure
Countries
HMAX
Exposure data will be available soon
VDY
Canada
96.94%
Sectors
HMAX
Exposure data will be available soon
VDY
Finance
59.44%
Energy
28.52%
Other
12.04%
As of October 23, 2026
Top 10 Holdings
HMAX
Exposure data will be available soon
VDY
Royal Bank of Canada
15.65%
The Toronto-Dominion Bank
11.07%
Bank of Montreal
6.59%
The Bank of Nova Scotia
6.17%
Enbridge, Inc.
6.05%
Canadian Imperial Bank of Commerce
5.71%
Canadian Natural Resources Ltd.
5.60%
Suncor Energy, Inc.
4.35%
Manulife Financial Corp.
3.88%
TC Energy Corp.
3.57%
Diversification
HMAX
Exposure data will be available soon
VDY
Total weight of top 10 holdings out of 60 total
68.65%
Characteristics
Compare
HMAX
VDY
| Provider | Hamilton ETFs | Vanguard |
| Management | Actively managed | Passively managed |
| Benchmark | - | FTSE Canada High Dividend Yield Net Tax Index - CAD |
| Replication Method | - | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 11.44% | 3.23% |
| Meets ESG criteria | No | No |
| Inception Date | January 20, 2023 | November 2, 2012 |
Frequently asked questions about HMAX and VDY
Which ETF has performed better year to date: HMAX or VDY?
As of October 23, 2026, HMAX has returned 17.89% year to date, while VDY has returned 29.32%. VDY is ahead on YTD performance.
Which ETF is larger by assets under management: HMAX or VDY?
As of October 23, 2026, HMAX manages $2.58 B in assets, while VDY manages $9.32 B. VDY is the larger fund by AUM.
How are HMAX and VDY managed?
HMAX is actively managed by Hamilton ETFs. It does not track an index. VDY is passively managed by Vanguard. It tracks the FTSE Canada High Dividend Yield Net Tax Index - CAD benchmark.
Which ETF is attracting more investor flows: HMAX or VDY?
Year to date, HMAX has seen +$470.37 M in net flows, compared with +$2,079.68 M for VDY. VDY has attracted more net investor money so far.
How do the fees of HMAX and VDY compare?
HMAX has an expense ratio of 0.76%, while VDY has an expense ratio of 0.22%.
Recent articles about HMAX and VDY
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