A side-by-side comparison of Hamilton Canadian Financials YIELD MAXIMIZER ETF (HMAX) and Invesco KBW Bank ETF (KBWB) to help Canadian investors make an informed decision.
1-Year Performance
Normalised to 100 at the start — shows relative return over the trailing 12 months.
Head-to-Head Comparison
| Metric | HMAX | KBWB |
|---|---|---|
| YTD Return | +9.95%✓ | -2.87% |
| 1-Day Change | +0.67% | +1.05%✓ |
| 1-Week Change | +1.79% | +2.13%✓ |
| 1-Month Change | +3.11%✓ | +3.29% |
| Current Price | $17.90 | $90.10 |
| AUM | $2.63B | $6.66B✓ |
| MER (Expense Ratio) | 65% | 0.36%✓ |
| Dividend Yield | 11.28%✓ | 2.04% |
| Distribution Frequency | Monthly | NA |
| Inception Date | 2023-01-20 | 2011-11-01 |
| Holdings Count | 10 | 25 |
| MorningStar Rating | — | — |
| Category | Financials Equity | Financials Equity |
| Beta | 0.80 | 1.19 |
| 52-Week High | $18.10 | $100.11 |
| 52-Week Low | $13.77 | $72.74 |
| 50-Day MA | $17.47 | $91.28 |
| 200-Day MA | $17.07 | $88.86 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Annualised Returns
| Period | HMAX | KBWB |
|---|---|---|
| YTD | +9.95%✓ | -2.87% |
| 1 Year | +26.31%✓ | +17.21% |
| 3 Year | +29.35% | +39.15%✓ |
| 5 Year | +0.00% | +7.55%✓ |
| 10 Year | +0.00% | +11.31%✓ |
| 1Y Volatility | 11.64% | 18.01% |
| Sharpe Ratio (3Y) | 1.71 | 1.21 |
Past performance is not a guarantee of future results.
Top 10 Holdings
| 1 | RY | Royal Bank of Canada | 24.80% |
| 2 | TD | Toronto Dominion Bank | 18.26% |
| 3 | BMO | Bank of Montreal | 11.09% |
| 4 | BNS | Bank of Nova Scotia | 10.46% |
| 5 | CM | Canadian Imperial Bank Of Commerce | 9.11% |
| 6 | BN | Brookfield Corporation | 8.08% |
| 7 | MFC | Manulife Financial Corp | 6.56% |
| 8 | GWO | Great-West Lifeco Inc. | 5.38% |
| 9 | NA | National Bank of Canada | 5.18% |
| 10 | SLF | Sun Life Financial Inc. | 4.09% |
| 1 | WFC | Wells Fargo & Company | 8.60% |
| 2 | JPM | JPMorgan Chase & Co | 7.78% |
| 3 | GS | Goldman Sachs Group Inc | 7.48% |
| 4 | MS | Morgan Stanley | 7.22% |
| 5 | BAC | Bank of America Corp | 7.08% |
| 6 | FITB | Fifth Third Bancorp | 4.47% |
| 7 | TFC | Truist Financial Corp | 4.26% |
| 8 | USB | U.S. Bancorp | 4.06% |
| 9 | PNC | PNC Financial Services Group Inc | 3.99% |
| 10 | COF | Capital One Financial Corporation | 3.94% |
Sector Weights
| Sector | HMAX | KBWB |
|---|---|---|
| Basic Materials | 0.00% | 0.00% |
| Communication Services | 0.00% | 0.00% |
| Consumer Cyclicals | 0.00% | 0.00% |
| Consumer Defensive | 0.00% | 0.00% |
| Energy | 0.00% | 0.00% |
| Financial Services | 100.00% | 99.84% |
| Healthcare | 0.00% | 0.00% |
| Industrials | 0.00% | 0.00% |
| Real Estate | 0.00% | 0.00% |
| Technology | 0.00% | 0.00% |
| Utilities | 0.00% | 0.00% |
About HMAX
HMAX is designed for attractive monthly income, while providing exposure to a market cap-weighted portfolio of Canadian financial services stocks. To reduce volatility and augment dividend income, HMAX will employ an active covered call strategy.
About KBWB
The fund generally will invest at least 90% of its total assets in the securities that comprise the underlying index. The underlying index is a modified-market capitalization-weighted index of companies primarily engaged in U.S. banking activities, as determined by the index provider. The underlying index is designed to track the performance of large national U.S. money centers, regional banks, and thrift institutions that are publicly traded in the U.S. The fund is non-diversified.
Which ETF is Right for You?
Both HMAX and KBWB are listed on Canadian exchanges and accessible through most Canadian brokerages including Questrade, Wealthsimple Trade, TD Direct, and Interactive Brokers.
Based on the available data, HMAX scores higher across our tracked metrics including YTD performance, dividend yield, and AUM — though both ETFs warrant individual research before investing.
- Consider your account type (TFSA, RRSP, non-registered) as it can affect dividend taxation.
- Compare management expense ratios (MER) directly on each provider's website.
- Look at average daily trading volume to assess liquidity.
- Review the fund's underlying index and holdings to ensure the exposure matches your goals.
This is not financial advice. Always do your own research or consult a licensed financial advisor before investing.
Frequently Asked Questions
What is the difference between HMAX and KBWB?
HMAX (Hamilton Canadian Financials YIELD MAXIMIZER ETF) and KBWB (Invesco KBW Bank ETF) are both Canadian-listed ETFs. Key differences include their AUM ($2.63B vs $6.66B), dividend yield (11.28% vs 2.04%), and year-to-date performance (+9.95% vs -2.87%).
Is HMAX better than KBWB?
There is no single "better" ETF — it depends on your investment goals. If you prioritise recent performance, HMAX has outperformed year-to-date. Always review the fund's prospectus and consider your tax situation.
Can I buy HMAX and KBWB on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both HMAX and KBWB should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
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