VS
iShares S&P/TSX Global Base Metals Index ETF (XBM) and Hamilton Gold Producer Yield Maximizer ETF (AMAX) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XBM focuses its top 3 sector exposures on Non-Energy Materials and Industrials, while AMAX leans towards Non-Energy Materials. When evaluating costs, XBM features a management fee (MER) of 0.55%, compared to 0.65% for AMAX. Performance-wise, XBM has returned 19.11% year-to-date with +$196 M in net flows, whereas AMAX is at 9.09% with +$138 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
XBM
AMAX
| AuM | $602.21 M | $612.60 M |
| Management Fees | 0.55% | 0.65% |
| Exp. ratio | 0.60% | 0.79% |
| Tracking Difference | -1.18% | - |
Historical performance and flows
As of September 16, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XBM | -5.42% | -11.09% | +19.11% | +51.64% | +82.70% |
AMAX | +5.60% | +9.37% | +9.09% | +31.15% | - | |
| Flows | XBM | +$18 M | -$3 M | +$196 M | +$208 M | +$206 M |
AMAX | +$33 M | +$56 M | +$138 M | +$178 M | - |
XBM vs AMAX exposure
Countries
XBM
Canada
41.92%
USA
31.70%
Australia
11.17%
United Kingdom
10.57%
AMAX
Canada
46.57%
USA
33.43%
South Africa
13.69%
Sectors
XBM
Non-Energy Materials
99.61%
AMAX
Non-Energy Materials
100.34%
As of September 16, 2026
Top 10 Holdings
XBM
Teck Resources Limited
10.86%
BHP Group Ltd.
10.81%
Freeport-McMoRan, Inc.
10.67%
Rio Tinto Plc
10.24%
First Quantum Minerals Ltd.
7.49%
Lundin Mining Corp.
6.85%
Southern Copper Corp.
6.16%
Alcoa Corp.
4.73%
Hudbay Minerals, Inc.
4.01%
Capstone Copper Corp.
2.36%
AMAX
Harmony Gold Mining Co. Ltd.
7.04%
Agnico Eagle Mines Ltd.
6.82%
Franco-Nevada Corp.
6.80%
Coeur Mining, Inc.
6.80%
Royal Gold, Inc.
6.79%
Anglogold Ashanti Plc
6.78%
Wheaton Precious Metals Corp.
6.77%
Barrick Mining Corp.
6.75%
Newmont Corp.
6.72%
Gold Fields Ltd.
6.65%
Diversification
XBM
Total weight of top 10 holdings out of 54 total
74.19%
AMAX
Total weight of top 10 holdings out of 15 total
67.92%
Characteristics
Compare
XBM
AMAX
| Provider | iShares | Hamilton ETFs |
| Management | Passively managed | Actively managed |
| Benchmark | S&P/TSX Global Base Metals Total Return Index - CAD | - |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 0.70% | 9.07% |
| Meets ESG criteria | No | No |
| Inception Date | April 12, 2011 | February 6, 2024 |
Frequently asked questions about XBM and AMAX
Which ETF has performed better year to date: XBM or AMAX?
As of September 16, 2026, XBM has returned 19.11% year to date, while AMAX has returned 9.09%. XBM is ahead on YTD performance.
Which ETF is larger by assets under management: XBM or AMAX?
As of September 16, 2026, XBM manages $602.21 M in assets, while AMAX manages $612.60 M. AMAX is the larger fund by AUM.
How are XBM and AMAX managed?
XBM is passively managed by iShares. It tracks the S&P/TSX Global Base Metals Total Return Index - CAD benchmark. AMAX is actively managed by Hamilton ETFs. It does not track an index.
What sectors do XBM and AMAX emphasize?
XBM is most exposed to Non-Energy Materials and Industrials. AMAX is most exposed to Non-Energy Materials.
Which ETF is attracting more investor flows: XBM or AMAX?
Year to date, XBM has seen +$195.70 M in net flows, compared with +$138.42 M for AMAX. XBM has attracted more net investor money so far.
How do the fees of XBM and AMAX compare?
XBM has an expense ratio of 0.60%, while AMAX has an expense ratio of 0.79%.
What are the top holdings of XBM and AMAX?
XBM's largest holdings include Teck Resources Limited, BHP Group Ltd., and Freeport-McMoRan, Inc.. AMAX's top holdings include Harmony Gold Mining Co. Ltd., Agnico Eagle Mines Ltd., and Franco-Nevada Corp..
Which ETF is more diversified: XBM or AMAX?
XBM holds 54 securities, while AMAX holds 15. On holdings count, XBM is the more diversified portfolio.
Recent articles about XBM and AMAX
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