Mike Philbrick Hamilton Utilities Yield Maximizer ETF UMAX-T WATCH Dec 07, 2023

Key difference is UMAX is focused on blue-chip, Canadian utilities. Reduces volatility by writing an options strategy. If you think we're going to be entering a more tumultuous period, utilities tend to do better.

HMAX is a similar setup, but with underlying financials. 75% exposure to the big 6 banks, which have struggled. Argument that banks' exposure to real estate makes them more economically sensitive. In a good economic environment, banks will do better.

Neither uses leverage. When the yields get juicy, remember that some of that's return of capital. Also remember that covered writing can be a drag if the market is anything but flat, slightly up, or slightly down.