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Global X Enhanced MSCI Emerging Markets Covered Call ETF (EMCL.NEO) Alternatives

ETF · Currency in CAD · Last updated Jul 18, 2026

The Global X Enhanced MSCI Emerging Markets Covered Call ETF seeks to provide exposure to large and mid-cap securities across emerging markets, employing approximately 125% leverage and a covered call strategy to generate income through monthly distributions of dividend and call option income.

Global X Enhanced MSCI Emerging Markets Covered Call ETF (EMCL.NEO) belongs to the Derivative Income category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with EMCL.NEO. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to EMCL.NEO

Among 84 ETFs in the Derivative Income category with expense-ratio data, the lowest-cost alternatives shown here go as low as 0.29%.

SymbolNameExpense RatioAUMInception
ECHI.TO
Ninepoint Enhanced Canadian HighShares ETF0.29%—Aug 2025EMCL.NEO vs ECHI.TO
EQLI.TO
Invesco S&P 500 Equal Weight Income Advantage ETF0.29%169.56MNov 2025EMCL.NEO vs EQLI.TO
JEPI.TO
JPMorgan US Equity Premium Income Active ETF0.35%—Sep 2024EMCL.NEO vs JEPI.TO
JEPQ.TO
JPMorgan Nasdaq Equity Premium Income Active ETF0.35%136.22MSep 2024EMCL.NEO vs JEPQ.TO
HBIL.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedg...0.35%224.00MSep 2024EMCL.NEO vs HBIL.TO

Best Risk-Adjusted Alternatives to EMCL.NEO

EMCL.NEO has a PortfoliosLab risk / return rank of 58. There are 48 ETFs in the Derivative Income category with higher risk-adjusted ranks, going as high as 98.

SymbolNameRisk / Return RankAUMInception
HLIF.TO
Harvest Canadian Equity Income Leaders ETF Class A
98
180.28MJun 2022EMCL.NEO vs HLIF.TO
CBNK.TO
Mulvihill Canadian Bank Enhanced Yield ETF
98
—Feb 2022EMCL.NEO vs CBNK.TO
BANK.TO
Evolve Canadian Banks and Lifecos Enhanced Yield I...
98
1.26BFeb 2022EMCL.NEO vs BANK.TO
ZWB.TO
BMO Covered Call Canadian Banks ETF
98
4.84BJan 2011EMCL.NEO vs ZWB.TO
BKCL.TO
Global X Enhanced Equal Weight Canadian Banks Cove...
97
198.10MJul 2023EMCL.NEO vs BKCL.TO

Top Performing EMCL.NEO Alternatives (YTD)

EMCL.NEO is at 17.09% YTD. There are 20 ETFs in the Derivative Income category with higher YTD returns, going as high as 48.52%.

SymbolNameYTD ReturnAUMInception
CBNK.TO
Mulvihill Canadian Bank Enhanced Yield ETF
48.52%
—Feb 2022EMCL.NEO vs CBNK.TO
ENCL.TO
Global X Enhanced Canadian Oil and Gas Equity Cove...
37.25%
271.10MOct 2023EMCL.NEO vs ENCL.TO
BANK.TO
Evolve Canadian Banks and Lifecos Enhanced Yield I...
34.14%
1.26BFeb 2022EMCL.NEO vs BANK.TO
HPF.TO
Harvest Energy Leaders Income ETF Class A CAD Hedg...
31.82%
—Oct 2014EMCL.NEO vs HPF.TO
BKCL.TO
Global X Enhanced Equal Weight Canadian Banks Cove...
31.50%
198.10MJul 2023EMCL.NEO vs BKCL.TO

Lowest Volatility Alternatives to EMCL.NEO

EMCL.NEO has 24.18% 1-year volatility. There are 75 ETFs in the Derivative Income category with lower 1-year volatility, going as low as 1.76%.

SymbolNameVolatility 1YAUMInception
HBIL.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedg...1.76%224.00MSep 2024EMCL.NEO vs HBIL.TO
HBIL-U.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhed...1.92%—Sep 2024EMCL.NEO vs HBIL-U.TO
HPYM.TO
Harvest Premium Yield 7-10 Year Treasury ETF - Cla...4.73%259.21MJan 2024EMCL.NEO vs HPYM.TO
FCMI.TO
Fidelity Canadian Monthly High Income ETF6.39%—Jan 2020EMCL.NEO vs FCMI.TO
ZPH.TO
BMO US Put Write Hedged to CAD ETF6.59%35.29MFeb 2017EMCL.NEO vs ZPH.TO

Lowest Drawdown Alternatives to EMCL.NEO

EMCL.NEO has a 1-year max drawdown of -13.12%. There are 58 ETFs in the Derivative Income category with shallower 1-year drawdowns, going as shallow as -0.95%.

SymbolNameMax Drawdown 1YAUMInception
HBIL.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedg...
-0.95%
224.00MSep 2024EMCL.NEO vs HBIL.TO
HBIL-U.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhed...
-1.07%
—Sep 2024EMCL.NEO vs HBIL-U.TO
HLIF.TO
Harvest Canadian Equity Income Leaders ETF Class A
-3.09%
180.28MJun 2022EMCL.NEO vs HLIF.TO
FCMI.TO
Fidelity Canadian Monthly High Income ETF
-3.62%
—Jan 2020EMCL.NEO vs FCMI.TO
HPYM.TO
Harvest Premium Yield 7-10 Year Treasury ETF - Cla...
-3.87%
259.21MJan 2024EMCL.NEO vs HPYM.TO

Other ETFs from Global X

The 10 most viewed Global X ETFs shown here include CASH.TO, CBIL.TO, QQCL.TO and span 10 categories. AUM among these funds goes as high as $7B.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
CASH.TO
Global X High Interest Savings ETFMoney Market
100
1.12%
6.66BNov 2021EMCL.NEO vs CASH.TO
CBIL.TO
Global X 0-3 Month T-Bill ETFCanadian Government Bonds
99
1.14%
2.39BApr 2023EMCL.NEO vs CBIL.TO
QQCL.TO
Global X Enhanced NASDAQ-100 Covered Call ETFNasdaq-100, Derivative Income
60
15.07%
370.02MOct 2023EMCL.NEO vs QQCL.TO
HXS.TO
Global X S&P 500 Index Corporate Class ETFS&P 500
65
11.55%
7.49BNov 2010EMCL.NEO vs HXS.TO
HXT.TO
Global X S&P/TSX 60 Index Corporate Class ETFCanada Equities
91
13.52%
5.40BSep 2010EMCL.NEO vs HXT.TO
CHPS.TO
Global X Artificial Intelligence Semiconductor Ind...Semiconductors, Technology Equities
80
47.72%
391.52MJun 2021EMCL.NEO vs CHPS.TO
HSAV.TO
Global X Cash Maximizer Corporate Class ETFMoney Market
62
0.91%
1.93BFeb 2020EMCL.NEO vs HSAV.TO
HBNK.TO
Global X Equal Weight Banks Index ETFFinancials Equities, Equal Weight
98
35.85%
—Jul 2023EMCL.NEO vs HBNK.TO
USCL.TO
Global X Enhanced S&P 500 Covered Call ETFDerivative Income, S&P 500
75
12.31%
250.73MJul 2023EMCL.NEO vs USCL.TO
QQCC.TO
Global X NASDAQ-100 Covered Call ETFNasdaq-100, Derivative Income
61
12.46%
709.55MSep 2011EMCL.NEO vs QQCC.TO

Often Compared With EMCL.NEO

Investors most often compare EMCL.NEO with EQCC.TO, EQCL.TO, ZWC.TO. These 20 comparison targets span 9 categories, based on PortfoliosLab usage data.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
EQCC.TO
Global X All-Equity Asset Allocation Covered Call ...Derivative Income
81
11.79%
—May 2024EMCL.NEO vs EQCC.TO
EQCL.TO
Global X Enhanced All-Equity Asset Allocation Cove...Derivative Income
79
13.63%
66.30MOct 2023EMCL.NEO vs EQCL.TO
ZWC.TO
BMO CA High Dividend Covered Call ETFDerivative Income
96
15.08%
2.41BFeb 2017EMCL.NEO vs ZWC.TO
EACC.NEO
Global X MSCI EAFE Covered Call ETFDerivative Income, Foreign Large Cap Equities
46
9.78%
—May 2024EMCL.NEO vs EACC.NEO
BKCC.TO
Global X Equal Weight Canadian Bank Covered Call E...Derivative Income
97
25.36%
400.33MMay 2011EMCL.NEO vs BKCC.TO
HEQT.TO
Horizons All-Equity Asset Allocation ETFGlobal Equities
79
13.34%
—Sep 2019EMCL.NEO vs HEQT.TO
GOGY.TO
Harvest Alphabet Enhanced High Income Shares ETF C...Derivative Income
93
12.18%
—Mar 2025EMCL.NEO vs GOGY.TO
ENCC.TO
Global X Canadian Oil and Gas Equity Covered Call ...Derivative Income, Energy Equities
91
29.68%
714.60MApr 2011EMCL.NEO vs ENCC.TO
HGY.TO
Global X Gold Yield ETFGold, Precious Metals
18
-8.61%
180.76MDec 2010EMCL.NEO vs HGY.TO
XSH.TO
iShares Core Canadian Short Term Corporate Bond In...Canadian Government Bonds
71
1.40%
2.65BSep 2011EMCL.NEO vs XSH.TO
NXF.TO
CI Energy Giants Covered Call ETF Common Units (CA...Energy Equities, Derivative Income
56
26.33%
127.47MFeb 2015EMCL.NEO vs NXF.TO
GLCC.TO
Global X Gold Producer Equity Covered Call ETFDerivative Income, Gold, Precious Metals
28
-15.15%
574.94MApr 2011EMCL.NEO vs GLCC.TO
RCDC.TO
RBC Canadian Dividend Covered Call ETFDerivative Income
97
18.67%
—Jan 2023EMCL.NEO vs RCDC.TO
UMAX.TO
Hamilton Utilities YIELD MAXIMIZER ETFDerivative Income, Utilities Equities
81
11.37%
1.41BJun 2023EMCL.NEO vs UMAX.TO
HYLD
High Yield ETFHigh Yield Bonds——95.91MNov 2010EMCL.NEO vs HYLD
HUTE.TO
Harvest Equal Weight Global Utilities Enhanced Inc...Derivative Income, Utilities Equities
67
14.28%
103.07MOct 2022EMCL.NEO vs HUTE.TO
ZWU.TO
BMO Covered Call Utilities ETFUtilities Equities, Derivative Income
74
11.82%
2.21BOct 2011EMCL.NEO vs ZWU.TO
CNQE.TO
Harvest CNQ Enhanced High Income Shares ETFDerivative Income—
29.55%
—Aug 2025EMCL.NEO vs CNQE.TO
HPYT.TO
Harvest Premium Yield Treasury ETF ADerivative Income
17
-1.08%
360.54MMay 2024EMCL.NEO vs HPYT.TO
UTES.TO
Evolve Canadian Utilities Enhanced Yield Index Fun...Derivative Income
82
14.30%
431.22MSep 2024EMCL.NEO vs UTES.TO

Compare EMCL.NEO with Any Fund or Stock

Compare EMCL.NEO with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

 

Diversifiers

Pair EMCL.NEO with funds that move differently

Global X Enhanced MSCI Emerging Markets Covered Call ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to EMCL.NEO.

Explore EMCL.NEO Diversifiers