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Global X Enhanced S&P/TSX 60 Covered Call ETF (CNCL.TO) Diversifiers

ETF · Currency in CAD · Last updated Jun 4, 2026

The Global X Enhanced S&P/TSX 60 Covered Call ETF seeks to provide exposure to the large-cap segment of the Canadian equity market and high monthly distributions of dividend and call option income. It employs a dynamic covered call option writing program and utilizes leverage to enhance growth potential and yield.

Looking to diversify beyond CNCL.TO? The ETFs below have the lowest correlation with CNCL.TO — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from CNCL.TO.

Best Diversifiers for CNCL.TO

5 ETFs have low correlation with CNCL.TO (below 0.3), 3 of which are negatively correlated. The least correlated is Global X 0-3 Month T-Bill ETF (CBIL.TO) (Canadian Government Bonds) with a 1Y correlation of -0.03, roughly unchanged from 0.00 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
CBIL.TO
Global X 0-3 Month T-Bill ETF-0.030.000.00
99
Canadian Government BondsCNCL.TO vs CBIL.TO
XEG.TO
iShares S&P/TSX Capped Energy Index ETF-0.02——
86
Energy EquitiesCNCL.TO vs XEG.TO
CASH.TO
Global X High Interest Savings ETF-0.01——
100
Money MarketCNCL.TO vs CASH.TO
HSAV.TO
Global X Cash Maximizer Corporate Class ETF0.02——
66
Bank LoanCNCL.TO vs HSAV.TO
KNGC.TO
Brompton Canadian Cash Flow Kings ETF0.19——
97
Large Cap Blend EquitiesCNCL.TO vs KNGC.TO
See all 33 diversifiers for CNCL.TO

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Diversification Analysis

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