UMAX.TO vs HUTE.TO: Income Fund Comparison
HamiltonUtilities YIELD MAXIMIZER™ ETF - Canada (UMAX.TO) and Harvest Equal Weight Global Utilities Enhanced Income ETF - Canada (HUTE.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: UMAX.TO individual review · HUTE.TO individual review
UMAX.TO: MER is 0.79% as per the ETF Facts document (August 2025). HUTE.TO: Management expense ratio is 1.89% per ETF Facts dated April 22 2026 - higher due to leverage costs - approximately 25% leverage via cash borrowings against net asset value. UMAX.TO fund started June 14th 2023 - approximately 2 years and 9 months old. HUTE.TO inception date was October 25 2022 - approximately 3.8 years of history as of the review date - rounds up to 4 years. Full Dependability and Return scores for both funds are available in the app.
| UMAX.TO | HUTE.TO | |
|---|---|---|
| Fund Name | HamiltonUtilities YIELD MAXIMIZER™ ETF - Canada | Harvest Equal Weight Global Utilities Enhanced Income ETF - Canada |
| Fund Type | Sector Based Fund - Utilities | Sector Based Fund - Utilities |
| Exchange | TSX | TSX |
| Last Reviewed | Mar 7, 2026 | Aug 16, 2026 |
| Author | Adam Hyde, Income Investing Analyst | |
🔒 Full scores available — with Premium subscription
Compare Performance — Free →Fund Attributes: UMAX.TO vs HUTE.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.
MER is 0.79% as per the ETF Facts document (August 2025).
Management expense ratio is 1.89% per ETF Facts dated April 22 2026 - higher due to leverage costs - approximately 25% leverage via cash borrowings against net asset value.
Hamilton ETFs has over $13 billion in assets under management.
Harvest ETFs reports 12.5 billion in AUM as at July 31 2026 per its About page.
Fund started June 14th 2023 - approximately 2 years and 9 months old.
Inception date was October 25 2022 - approximately 3.8 years of history as of the review date - rounds up to 4 years.
Over $1.19 billion in assets in this fund as at March 5 2026.
Net AUM is 109.20 million as at 2026/08/14 per the fund product page - still under the 200 million tier.
Risk: UMAX.TO vs HUTE.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.
Beta of 0.21 vs SPY over the fund's history (2023-06-23 to 2026-03-07) - very low market sensitivity. Standalone annualized volatility of 8.91% (weekly total returns) is very low - standalone score used since |beta| < 0.6.
Beta vs SPY is 0.26 (period 2022-11-04 to 2026-08-15 - calculation result) - low market sensitivity so the standalone volatility score drives the rating; standalone volatility is 14.01% annualized (weekly total returns - calculation result) - low-to-moderate price choppiness.
See the full Risk analysis for both UMAX.TO and HUTE.TO — volatility ratings, diversification scores, and analyst notes.
View Plans →Return: UMAX.TO vs HUTE.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.
Monthly distributions confirmed by distribution history.
Distribution history confirms one payment per month.
See the full Return analysis for both UMAX.TO and HUTE.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 UMAX.TO and HUTE.TO are available in the Dependable Income Investing app.
See our full scoring methodology →
Frequently Asked Questions: UMAX.TO vs HUTE.TO
Which has a lower expense ratio, UMAX.TO or HUTE.TO?
UMAX.TO: MER is 0.79% as per the ETF Facts document (August 2025).
HUTE.TO: Management expense ratio is 1.89% per ETF Facts dated April 22 2026 - higher due to leverage costs - approximately 25% leverage via cash borrowings against net asset value.
Which fund has more assets under management, UMAX.TO or HUTE.TO?
UMAX.TO: Over $1.19 billion in assets in this fund as at March 5 2026.
HUTE.TO: Net AUM is 109.20 million as at 2026/08/14 per the fund product page - still under the 200 million tier.
Which fund has been trading longer, UMAX.TO or HUTE.TO?
UMAX.TO: Fund started June 14th 2023 - approximately 2 years and 9 months old.
HUTE.TO: Inception date was October 25 2022 - approximately 3.8 years of history as of the review date - rounds up to 4 years.
Who manages UMAX.TO vs HUTE.TO?
UMAX.TO: Hamilton ETFs has over $13 billion in assets under management.
HUTE.TO: Harvest ETFs reports 12.5 billion in AUM as at July 31 2026 per its About page.
Where can I see the full UMAX.TO vs HUTE.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 UMAX.TO and HUTE.TO?
HamiltonUtilities YIELD MAXIMIZER™ ETF - Canada is a Sector Based Fund - Utilities. MER is 0.79% as per the ETF Facts document (August 2025). Harvest Equal Weight Global Utilities Enhanced Income ETF - Canada is a Sector Based Fund - Utilities. Management expense ratio is 1.89% per ETF Facts dated April 22 2026 - higher due to leverage costs - approximately 25% leverage via cash borrowings against net asset value. Full comparison including Dependability Score is available in the Dependable Income Investing app.
Which is better for income investors, UMAX.TO or HUTE.TO?
UMAX.TO: MER is 0.79% as per the ETF Facts document (August 2025). Fund started June 14th 2023 - approximately 2 years and 9 months old. HUTE.TO: Management expense ratio is 1.89% per ETF Facts dated April 22 2026 - higher due to leverage costs - approximately 25% leverage via cash borrowings against net asset value. Inception date was October 25 2022 - approximately 3.8 years of history as of the review date - rounds up to 4 years. Which scores higher on Dependability and Return is available in the Dependable Income Investing app.
Do UMAX.TO and HUTE.TO pay monthly distributions?
UMAX.TO: Monthly distributions confirmed by distribution history. HUTE.TO: Distribution history confirms one payment per month. Full yield and distribution stability scores for both funds are available in the Dependable Income Investing app.
See the Full UMAX.TO vs HUTE.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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