CMAX: All-in-One Canadian Equity Income Solution

Introducing CMAX

Launched in May 2026, the Hamilton Canadian Equity YIELD MAXIMIZER™ ETF (CMAX) provides broad exposure to the Canadian stock market, attractive tax-efficient monthly income, and modest growth potential.

CMAX invests in six of our established sector-focused YIELD MAXIMIZER™ ETFs and is designed to broadly resemble the S&P/TSX 60 index in terms of sector weightings. Each of the underlying funds is managed by our experienced options team, which actively writes at-the-money options on the underlying stock holdings to generate income in the form of premiums.

The result is a diversified Canadian equity portfolio with a heavy focus on Canadian bank and insurance stocks, which have long been core holdings for many Canadian investors. CMAX also has meaningful exposure to utilities, telecoms and gold producer stocks, often considered defensive during periods of market volatility.

While CMAX closely reflects the Canadian large-cap stock market, it also holds select U.S. stocks through its underlying ETFs. Investors may ask why a Canadian-focused ETF includes U.S. equities rather than sticking strictly to Canadian names.

The answer is diversification. While CMAX is designed to provide a sector mix broadly similar to the S&P/TSX 60, it also makes what we believe are some important improvements. The Canadian technology sector, for example, is heavily concentrated, with Constellation Software, Shopify and Celestica representing roughly 75% of the sector[1].

Rather than replicate that concentration, CMAX gets its technology exposure through the Hamilton Technology YIELD MAXIMIZER™ ETF (QMAX). This addition provides exposure to a broader group of technology heavyweights like chipmakers NVIDIA, Intel, AMD and Micron, and the FAANGs, which add some prudent diversification, strength and quality to the portfolio.

More choice for income-seeking investors

With covered call ETFs like CMAX, investors can maintain their equity exposure while earning a higher tax-efficient yield to supplement other sources of income. It depends on your own unique financial position and needs, but if you want a balance of capital growth and income and don’t just want to focus on one sector, CMAX may be the right choice to add to your portfolio.

CMAX is part of our broader equity YIELD MAXIMIZER™ lineup, which also includes SMAX for U.S. equity exposure and IMAX for international equity exposure. Each ETF gives investors a simple way to choose the market exposure they want while accessing our active covered call strategy for monthly income.

For investors who want to be more selective, our popular YIELD MAXIMIZER™ suite also offers sector-specific ETFs across areas such as Canadian financials, U.S. financials, technology, utilities, energy, REITs, gold producers, and fixed income. These funds can be used individually to customize exposure based on an investor’s income needs, market views or existing portfolio.

To learn more about our YIELD MAXIMIZER™ suite, including CMAX, visit hamiltonetfs.com/maximizer.

CMAX vs. HDIV: Partners for different investors

For investors familiar with our entire suites of ETFs, you might wonder why we’ve launched CMAX when the Hamilton Enhanced Canadian Covered Call ETF (HDIV) already exists. CMAX bears some resemblance to HDIV with one very big difference. Both provide broad sector exposure similar to the S&P/TSX 60, but HDIV has a modest cash leverage of 25% to enhance yield and growth potential.

Investors with a lower risk appetite may prefer to own CMAX. CMAX is also a suitable alternative for advisors navigating limits on allocating funds to alternative ETFs.

[1]S&P/TSX Capped Information Technology Index. As at May 29, 2026.

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