PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan

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

ETF · Currency in CAD · Last updated Jun 24, 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 78 ETFs in the Derivative Income category with expense-ratio data, the lowest-cost alternatives shown here go as low as 0.04%.

SymbolNameExpense RatioAUMInception
USCL.TO
Global X Enhanced S&P 500 Covered Call ETF0.04%250.98MJul 2023EMCL.NEO vs USCL.TO
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%155.19MNov 2025EMCL.NEO vs EQLI.TO
JEPQ.TO
JPMorgan Nasdaq Equity Premium Income Active ETF0.35%136.22MSep 2024EMCL.NEO vs JEPQ.TO
JEPI.TO
JPMorgan US Equity Premium Income Active ETF0.35%—Sep 2024EMCL.NEO vs JEPI.TO

Best Risk-Adjusted Alternatives to EMCL.NEO

EMCL.NEO has a PortfoliosLab risk / return rank of 79. There are 19 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
—Jun 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...
97
1.16BFeb 2022EMCL.NEO vs BANK.TO
ZWB.TO
BMO Covered Call Canadian Banks ETF
97
4.65BJan 2011EMCL.NEO vs ZWB.TO
BKCL.TO
Global X Enhanced Equal Weight Canadian Banks Cove...
97
197.22MJul 2023EMCL.NEO vs BKCL.TO

Top Performing EMCL.NEO Alternatives (YTD)

EMCL.NEO is at 26.59% YTD. There are 5 ETFs in the Derivative Income category with higher YTD returns, going as high as 41.95%.

SymbolNameYTD ReturnAUMInception
CBNK.TO
Mulvihill Canadian Bank Enhanced Yield ETF
41.95%
—Feb 2022EMCL.NEO vs CBNK.TO
ENCL.TO
Global X Enhanced Canadian Oil and Gas Equity Cove...
30.80%
267.19MOct 2023EMCL.NEO vs ENCL.TO
YAVG.NEO
Broadcom (AVGO) Yield Shares Purpose ETF
28.52%
—Feb 2025EMCL.NEO vs YAVG.NEO
BANK.TO
Evolve Canadian Banks and Lifecos Enhanced Yield I...
27.46%
1.16BFeb 2022EMCL.NEO vs BANK.TO
BKCL.TO
Global X Enhanced Equal Weight Canadian Banks Cove...
26.81%
197.22MJul 2023EMCL.NEO vs BKCL.TO

Lowest Volatility Alternatives to EMCL.NEO

EMCL.NEO has 22.64% 1-year volatility. There are 61 ETFs in the Derivative Income category with lower 1-year volatility, going as low as 1.62%.

SymbolNameVolatility 1YAUMInception
HBIL.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedg...1.62%227.30MSep 2024EMCL.NEO vs HBIL.TO
HPYM.TO
Harvest Premium Yield 7-10 Year Treasury ETF - Cla...4.66%230.93MJan 2024EMCL.NEO vs HPYM.TO
UMAX.TO
Hamilton Utilities YIELD MAXIMIZER ETF6.88%1.36BJun 2023EMCL.NEO vs UMAX.TO
HLIF.TO
Harvest Canadian Equity Income Leaders ETF Class A6.98%—Jun 2022EMCL.NEO vs HLIF.TO
ZWU.TO
BMO Covered Call Utilities ETF7.68%2.20BOct 2011EMCL.NEO vs ZWU.TO

Lowest Drawdown Alternatives to EMCL.NEO

EMCL.NEO has a 1-year max drawdown of -13.12%. There are 45 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%
227.30MSep 2024EMCL.NEO vs HBIL.TO
HLIF.TO
Harvest Canadian Equity Income Leaders ETF Class A
-3.09%
—Jun 2022EMCL.NEO vs HLIF.TO
HPYM.TO
Harvest Premium Yield 7-10 Year Treasury ETF - Cla...
-3.87%
230.93MJan 2024EMCL.NEO vs HPYM.TO
ZWU.TO
BMO Covered Call Utilities ETF
-4.86%
2.20BOct 2011EMCL.NEO vs ZWU.TO
UMAX.TO
Hamilton Utilities YIELD MAXIMIZER ETF
-5.11%
1.36BJun 2023EMCL.NEO vs UMAX.TO

Other ETFs from Global X

The 10 most viewed Global X ETFs shown here include CASH.TO, CBIL.TO, QQCL.TO and span 11 categories. AUM among these funds goes as high as $7B.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
CASH.TO
Global X High Interest Savings ETFMoney Market
99
0.95%
6.67BNov 2021EMCL.NEO vs CASH.TO
CBIL.TO
Global X 0-3 Month T-Bill ETFCanadian Government Bonds
99
0.97%
2.36BApr 2023EMCL.NEO vs CBIL.TO
QQCL.TO
Global X Enhanced NASDAQ-100 Covered Call ETFNasdaq-100, Derivative Income
76
20.21%
379.27MOct 2023EMCL.NEO vs QQCL.TO
HXS.TO
Global X S&P 500 Index Corporate Class ETFS&P 500
69
11.68%
7.12BNov 2010EMCL.NEO vs HXS.TO
HXT.TO
Global X S&P/TSX 60 Index Corporate Class ETFCanada Equities
86
11.58%
5.30BSep 2010EMCL.NEO vs HXT.TO
CHPS.TO
Global X Artificial Intelligence Semiconductor Ind...Semiconductors, Technology Equities
92
62.84%
416.39MJun 2021EMCL.NEO vs CHPS.TO
HSAV.TO
Global X Cash Maximizer Corporate Class ETFMoney Market
61
0.90%
1.92BFeb 2020EMCL.NEO vs HSAV.TO
HBNK.TO
Global X Equal Weight Banks Index ETFFinancials Equities, Equal Weight
97
30.68%
—Jul 2023EMCL.NEO vs HBNK.TO
QQCC.TO
Global X NASDAQ-100 Covered Call ETFNasdaq-100, Derivative Income
77
16.46%
732.86MSep 2011EMCL.NEO vs QQCC.TO
ENCC.TO
Global X Canadian Oil and Gas Equity Covered Call ...Derivative Income, Energy Equities
77
24.43%
708.27MApr 2011EMCL.NEO vs ENCC.TO

Often Compared With EMCL.NEO

Investors most often compare EMCL.NEO with EQCC.TO, EQCL.TO, BKCC.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
79
12.17%
—May 2024EMCL.NEO vs EQCC.TO
EQCL.TO
Global X Enhanced All-Equity Asset Allocation Cove...Derivative Income
81
14.50%
65.22MOct 2023EMCL.NEO vs EQCL.TO
BKCC.TO
Global X Equal Weight Canadian Bank Covered Call E...Derivative Income
96
21.49%
395.62MMay 2011EMCL.NEO vs BKCC.TO
ZWC.TO
BMO CA High Dividend Covered Call ETFDerivative Income
93
12.66%
2.35BFeb 2017EMCL.NEO vs ZWC.TO
EACC.NEO
Global X MSCI EAFE Covered Call ETFDerivative Income, Foreign Large Cap Equities
47
10.37%
—May 2024EMCL.NEO vs EACC.NEO
HEQT.TO
Horizons All-Equity Asset Allocation ETFGlobal Equities
82
14.32%
—Sep 2019EMCL.NEO vs HEQT.TO
GOGY.TO
Harvest Alphabet Enhanced High Income Shares ETF C...Derivative Income
94
13.52%
—Mar 2025EMCL.NEO vs GOGY.TO
HGY.TO
Global X Gold Yield ETFGold, Precious Metals
18
-6.18%
191.55MDec 2010EMCL.NEO vs HGY.TO
XSH.TO
iShares Core Canadian Short Term Corporate Bond In...Canadian Government Bonds
55
1.44%
2.47BSep 2011EMCL.NEO vs XSH.TO
NXF.TO
CI Energy Giants Covered Call ETF Common Units (CA...Energy Equities, Derivative Income
39
19.97%
116.28MFeb 2015EMCL.NEO vs NXF.TO
GLCC.TO
Global X Gold Producer Equity Covered Call ETFDerivative Income, Gold, Precious Metals
30
-6.77%
589.70MApr 2011EMCL.NEO vs GLCC.TO
RCDC.TO
RBC Canadian Dividend Covered Call ETFDerivative Income
95
14.92%
—Jan 2023EMCL.NEO vs RCDC.TO
HPYT.TO
Harvest Premium Yield Treasury ETF ADerivative Income
15
0.58%
377.33MMay 2024EMCL.NEO vs HPYT.TO
HUTE.TO
Harvest Equal Weight Global Utilities Enhanced Inc...Derivative Income, Utilities Equities
56
13.36%
101.38MOct 2022EMCL.NEO vs HUTE.TO
CNQE.TO
Harvest CNQ Enhanced High Income Shares ETFDerivative Income—
22.02%
—Aug 2025EMCL.NEO vs CNQE.TO
CRCY.TO
Harvest Circle Enhanced High Income Shares ETF Cla...Derivative Income—
-14.04%
—Sep 2025EMCL.NEO vs CRCY.TO
HYLD
High Yield ETFHigh Yield Bonds——95.91MNov 2010EMCL.NEO vs HYLD
UTES.TO
Evolve Canadian Utilities Enhanced Yield Index Fun...Derivative Income
86
14.78%
412.15MSep 2024EMCL.NEO vs UTES.TO
YCST.NEO
Costco (COST) Yield Shares Purpose ETFDerivative Income
7
12.50%
—Feb 2025EMCL.NEO vs YCST.NEO
HDIV.TO
Hamilton Enhanced Canadian Covered Call ETFDerivative Income
93
18.72%
1.70BJul 2021EMCL.NEO vs HDIV.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