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Performance
Performance Chart
The chart shows the growth of an initial investment of CA$10,000 in Global X Enhanced MSCI Emerging Markets Covered Call ETF, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Different Benchmark Currency
EMCL.NEO is traded in CAD, while the ^GSPC benchmark is in USD. To make them comparable, the benchmark values have been converted to CAD using the latest available exchange rates.
Returns By Period
Global X Enhanced MSCI Emerging Markets Covered Call ETF (EMCL.NEO) has returned -2.51% so far this year and 5.01% over the past 12 months.
Global X Enhanced MSCI Emerging Markets Covered Call ETF
- 1D
- -0.47%
- 1M
- -10.88%
- YTD
- -2.51%
- 6M
- -3.05%
- 1Y
- 5.01%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 2.80%
- 1M
- -3.22%
- YTD
- -3.34%
- 6M
- -2.48%
- 1Y
- 12.46%
- 3Y*
- 17.80%
- 5Y*
- 12.48%
- 10Y*
- 12.91%
Monthly Returns
Based on dividend-adjusted daily data since May 29, 2024, EMCL.NEO's average daily return is +0.02%, while the average monthly return is +0.33%. At this rate, your investment would double in approximately 17.5 years.
Historically, 57% of months were positive and 43% were negative. The best month was Sep 2025 with a return of +7.0%, while the worst month was Mar 2026 at -10.9%. The longest winning streak lasted 6 consecutive months, and the longest losing streak was 3 months.
On a daily basis, EMCL.NEO closed higher 37% of trading days. The best single day was Mar 10, 2026 with a return of +5.9%, while the worst single day was Mar 3, 2026 at -6.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 6.09% | 3.11% | -10.88% | -2.51% | |||||||||
| 2025 | 1.66% | -2.33% | 1.37% | -7.67% | 5.32% | 1.44% | 1.83% | 0.75% | 7.03% | 3.10% | -1.08% | -2.49% | 8.42% |
| 2024 | -2.63% | 3.74% | 1.15% | -0.35% | 1.99% | -1.70% | -1.04% | -0.75% | 0.25% |
Benchmark Metrics
Global X Enhanced MSCI Emerging Markets Covered Call ETF has an annualized alpha of 3.46%, beta of 0.40, and R² of 0.11 versus S&P 500 Index. Calculated based on daily prices since May 30, 2024.
- This ETF participated in 103.38% of S&P 500 Index downside but only 82.10% of its upside — more exposed to losses than it benefited from rallies.
- Beta of 0.40 may look defensive, but with R² of 0.11 this ETF is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R² of 0.11 means this ETF moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 3.46%
- Beta
- 0.40
- R²
- 0.11
- Upside Capture
- 82.10%
- Downside Capture
- 103.38%
Return for Risk
Risk / Return Rank
EMCL.NEO ranks 17 for risk / return — in the bottom 17% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Global X Enhanced MSCI Emerging Markets Covered Call ETF (EMCL.NEO) and compare them to a chosen benchmark (S&P 500 Index).
| EMCL.NEO | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.23 | 0.69 | -0.46 |
Sortino ratioReturn per unit of downside risk | 0.46 | 1.06 | -0.59 |
Omega ratioGain probability vs. loss probability | 1.07 | 1.17 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | 0.16 | 1.14 | -0.99 |
Martin ratioReturn relative to average drawdown | 0.55 | 4.22 | -3.67 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore EMCL.NEO risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Global X Enhanced MSCI Emerging Markets Covered Call ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Global X Enhanced MSCI Emerging Markets Covered Call ETF was 20.61%, occurring on Apr 8, 2025. Recovery took 106 trading sessions.
The current Global X Enhanced MSCI Emerging Markets Covered Call ETF drawdown is 13.53%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -20.61% | Oct 8, 2024 | 126 | Apr 8, 2025 | 106 | Sep 10, 2025 | 232 |
| -14.07% | Feb 26, 2026 | 8 | Mar 9, 2026 | — | — | — |
| -7.72% | Jul 12, 2024 | 17 | Aug 6, 2024 | 36 | Sep 26, 2024 | 53 |
| -6.3% | Oct 28, 2025 | 36 | Dec 16, 2025 | 12 | Jan 6, 2026 | 48 |
| -3.73% | Oct 10, 2025 | 1 | Oct 10, 2025 | 3 | Oct 16, 2025 | 4 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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