HDIV.TO vs BMAX.TO: Income Fund Comparison
Hamilton Enhanced Canadian Covered Call ETF - Canada (HDIV.TO) and Brompton Enhanced Multi-Asset Income ETF - Canada (BMAX.TO) are both income-focused funds. Below is our independent side-by-side review using the Dependable Income Investing 13-factor scoring system — designed specifically for income investors seeking reliable, sustainable distributions.
Also see: HDIV.TO individual review · BMAX.TO individual review
HDIV.TO: The fund page mentions it is subject to the fees of the underlying portfolio so you pay the aggregate fees of all the child ETF's contained within. This is 2.55% which is very high according to: https://hamiltonetfs.com/wp-content/uploads/2025/08/ETF-Facts-HDIV-EN-2025-08.pdf BMAX.TO: Subject to fees of the underlying ETFs held in the BMAX portfolio. MER is 2.62% as per www.bromptongroup.com/wp-content/uploads/2025/03/BMAX-CAD.pdf HDIV.TO inception date was July 19 2021. BMAX.TO october 20th 2022 was inception date. Full Dependability and Return scores for both funds are available in the app.
| HDIV.TO | BMAX.TO | |
|---|---|---|
| Fund Name | Hamilton Enhanced Canadian Covered Call ETF - Canada | Brompton Enhanced Multi-Asset Income ETF - Canada |
| Fund Type | Diversified Fund | Diversified Fund |
| Exchange | TSX | TSX |
| Last Reviewed | 2025-12-09 | 2025-12-09 |
| Author | Adam Hyde, Income Investing Analyst | |
🔒 Full scores available — with Premium subscription
Compare Performance — Free →Fund Attributes: HDIV.TO vs BMAX.TO 20% of overall score
Fund Attributes cover the foundational characteristics of each fund: cost, company backing, track record, and size. These factors reflect stability and cost-efficiency for long-term income investors.
The fund page mentions it is subject to the fees of the underlying portfolio so you pay the aggregate fees of all the child ETF's contained within. This is 2.55% which is very high according to: https://hamiltonetfs.com/wp-content/uploads/2025/08/ETF-Facts-HDIV-EN-2025-08.pdf
Subject to fees of the underlying ETFs held in the BMAX portfolio. MER is 2.62% as per www.bromptongroup.com/wp-content/uploads/2025/03/BMAX-CAD.pdf
Has over $2.4 billion in assets under management.
Brompton manages 41 TSX listed closed-end and exchange-traded funds with assets under management of over $3 billion.
Inception date was July 19 2021.
October 20th 2022 was inception date.
Over 1.1 Billion in this fund.
The aggregate Net Asset Value of the Fund was $153 million at Dec 2025.
Risk: HDIV.TO vs BMAX.TO 35% of overall score
Risk factors evaluate how each fund manages volatility, diversification, and the nature of its underlying assets — critical considerations for income investors who prioritise capital preservation.
Volatility beta is slightly less than the S&P at 0.8. Note that the fund uses 25% leverage to increase returns so this increases its volatility slightly.
Portfolio analyzer gives the beta at 0.73 which is good.
See the full Risk analysis for both HDIV.TO and BMAX.TO — volatility ratings, diversification scores, and analyst notes.
View Plans →Return: HDIV.TO vs BMAX.TO 45% of overall score
Return factors assess income generation quality: current yield, distribution consistency, price history, and payment frequency. This is the most heavily weighted category for income investors.
Pays Monthly.
Pays monthly distributions.
See the full Return analysis for both HDIV.TO and BMAX.TO — yield ratings, distribution consistency scores, and capital history.
View Plans →Our Review Methodology
Every fund reviewed on Dependable Income Investing is scored using our 13-factor Fund Report Card, organised into three weighted categories: Fund Attributes (20%), Risk (35%), and Return (45%). Each criterion is rated 1–5 by our analysts based on publicly available fund data.
We also calculate a Dependability Score — a weighted composite of six income-specific factors ranked by importance for retirement income investors: Yield Stability, Yield, Volatility, Capital History, Fund Risk, and Underlying Assets. This score answers the question income investors care about most: can I depend on this fund to pay me reliably?
Full scores, ratings, and analyst notes for both HDIV.TO and BMAX.TO are available in the Dependable Income Investing app.
See our full scoring methodology →
Frequently Asked Questions: HDIV.TO vs BMAX.TO
Which has a lower expense ratio, HDIV.TO or BMAX.TO?
HDIV.TO: The fund page mentions it is subject to the fees of the underlying portfolio so you pay the aggregate fees of all the child ETF's contained within. This is 2.55% which is very high according to: https://hamiltonetfs.com/wp-content/uploads/2025/08/ETF-Facts-HDIV-EN-2025-08.pdf
BMAX.TO: Subject to fees of the underlying ETFs held in the BMAX portfolio. MER is 2.62% as per www.bromptongroup.com/wp-content/uploads/2025/03/BMAX-CAD.pdf
Which fund has more assets under management, HDIV.TO or BMAX.TO?
HDIV.TO: Over 1.1 Billion in this fund.
BMAX.TO: The aggregate Net Asset Value of the Fund was $153 million at Dec 2025.
Which fund has been trading longer, HDIV.TO or BMAX.TO?
HDIV.TO: Inception date was July 19 2021.
BMAX.TO: October 20th 2022 was inception date.
Who manages HDIV.TO vs BMAX.TO?
HDIV.TO: Has over $2.4 billion in assets under management.
BMAX.TO: Brompton manages 41 TSX listed closed-end and exchange-traded funds with assets under management of over $3 billion.
Where can I see the full HDIV.TO vs BMAX.TO comparison with scores?
The complete side-by-side comparison — including all Risk and Return scores, analyst notes, Overall Score, and Dependability Score for both funds — is available in the Dependable Income Investing app.
What is the difference between HDIV.TO and BMAX.TO?
Hamilton Enhanced Canadian Covered Call ETF - Canada is a Diversified Fund. The fund page mentions it is subject to the fees of the underlying portfolio so you pay the aggregate fees of all the child ETF's contained within. This is 2.55% which is very high according to: https://hamiltonetfs.com/wp-content/uploads/2025/08/ETF-Facts-HDIV-EN-2025-08.pdf. Brompton Enhanced Multi-Asset Income ETF - Canada is a Diversified Fund. Subject to fees of the underlying ETFs held in the BMAX portfolio. MER is 2.62% as per www.bromptongroup.com/wp-content/uploads/2025/03/BMAX-CAD.pdf. Full comparison including Dependability Score is available in the Dependable Income Investing app.
Which is better for income investors, HDIV.TO or BMAX.TO?
HDIV.TO: The fund page mentions it is subject to the fees of the underlying portfolio so you pay the aggregate fees of all the child ETF's contained within. This is 2.55% which is very high according to: https://hamiltonetfs.com/wp-content/uploads/2025/08/ETF-Facts-HDIV-EN-2025-08.pdf. Inception date was July 19 2021. BMAX.TO: Subject to fees of the underlying ETFs held in the BMAX portfolio. MER is 2.62% as per www.bromptongroup.com/wp-content/uploads/2025/03/BMAX-CAD.pdf. October 20th 2022 was inception date. Which scores higher on Dependability and Return is available in the Dependable Income Investing app.
Do HDIV.TO and BMAX.TO pay monthly distributions?
HDIV.TO: Pays Monthly. BMAX.TO: Pays monthly distributions. Full yield and distribution stability scores for both funds are available in the Dependable Income Investing app.
See the Full HDIV.TO vs BMAX.TO Comparison
The Dependable Income Investing app gives you the complete picture: all 13 scoring factors for both funds, Risk and Return analyst notes, Dependability Scores, and tools to compare any income fund side by side.
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