VS
When evaluating costs, LMAX features a management fee (MER) of 0.65%, compared to 0.55% for ZUT. Performance-wise, LMAX has returned 19.27% year-to-date with +$77 M in net flows, whereas ZUT is at 23.02% with -$85 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
LMAX
ZUT
| AuM | $259.19 M | $895.68 M |
| Management Fees | 0.65% | 0.55% |
| Exp. ratio | 0.80% | 0.61% |
| Tracking Difference | - | -0.71% |
Historical performance and flows
As of November 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | LMAX | +9.27% | +11.32% | +19.27% | +19.38% | - |
ZUT | +6.90% | +4.07% | +23.02% | +15.79% | +77.42% | |
| Flows | LMAX | +$2 M | +$11 M | +$77 M | +$94 M | - |
ZUT | -$19 M | +$15 M | -$85 M | -$31 M | +$227 M |
LMAX vs ZUT exposure
Countries
LMAX
Exposure data will be available soon
ZUT
Canada
83.93%
Bermuda
16.07%
Sectors
LMAX
Exposure data will be available soon
ZUT
Utilities
83.24%
Energy
8.44%
Industrials
8.32%
As of November 11, 2026
Top 10 Holdings
LMAX
Exposure data will be available soon
ZUT
Northland Power, Inc.
9.17%
TransAlta Corp.
8.59%
ATCO Ltd.
8.53%
AltaGas Ltd.
8.44%
Canadian Utilities Ltd.
8.43%
Fortis, Inc.
8.34%
Brookfield Infrastructure Partners LP
8.32%
Capital Power Corp.
8.27%
Emera, Inc.
8.26%
Hydro One Ltd.
8.15%
Diversification
LMAX
Exposure data will be available soon
ZUT
Total weight of top 10 holdings out of 12 total
84.50%
Characteristics
Compare
LMAX
ZUT
| Provider | Hamilton ETFs | BMO |
| Management | Actively managed | Passively managed |
| Benchmark | - | Solactive Equal Weight Canada Utilities Total Return Index - CAD |
| Replication Method | - | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 11.21% | 2.71% |
| Meets ESG criteria | No | No |
| Inception Date | February 6, 2024 | January 19, 2010 |
Frequently asked questions about LMAX and ZUT
Which ETF has performed better year to date: LMAX or ZUT?
As of November 11, 2026, LMAX has returned 19.27% year to date, while ZUT has returned 23.02%. ZUT is ahead on YTD performance.
Which ETF is larger by assets under management: LMAX or ZUT?
As of November 11, 2026, LMAX manages $259.19 M in assets, while ZUT manages $895.68 M. ZUT is the larger fund by AUM.
How are LMAX and ZUT managed?
LMAX is actively managed by Hamilton ETFs. It does not track an index. ZUT is passively managed by BMO. It tracks the Solactive Equal Weight Canada Utilities Total Return Index - CAD benchmark.
Which ETF is attracting more investor flows: LMAX or ZUT?
Year to date, LMAX has seen +$76.79 M in net flows, compared with -$84.86 M for ZUT. LMAX has attracted more net investor money so far.
How do the fees of LMAX and ZUT compare?
LMAX has an expense ratio of 0.80%, while ZUT has an expense ratio of 0.61%.
Recent articles about LMAX and ZUT
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Posted on 6/13/2024 by Kyle Anthony inStock Market
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