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 4, 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 76 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%249.48MJul 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
HBIL.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedg...0.35%235.30MSep 2024EMCL.NEO vs HBIL.TO

Best Risk-Adjusted Alternatives to EMCL.NEO

EMCL.NEO has a PortfoliosLab risk / return rank of 86. There are 12 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
96
—Feb 2022EMCL.NEO vs CBNK.TO
BANK.TO
Evolve Canadian Banks and Lifecos Enhanced Yield I...
96
1.08BFeb 2022EMCL.NEO vs BANK.TO
BKCL.TO
Global X Enhanced Equal Weight Canadian Banks Cove...
95
187.53MJul 2023EMCL.NEO vs BKCL.TO
BKCC.TO
Global X Equal Weight Canadian Bank Covered Call E...
94
370.01MMay 2011EMCL.NEO vs BKCC.TO

Top Performing EMCL.NEO Alternatives (YTD)

EMCL.NEO is at 27.22% YTD. There are 9 ETFs in the Derivative Income category with higher YTD returns, going as high as 59.96%.

SymbolNameYTD ReturnAUMInception
YAVG.NEO
Broadcom (AVGO) Yield Shares Purpose ETF
59.96%
—Feb 2025EMCL.NEO vs YAVG.NEO
AVGY.TO
Harvest Broadcom Enhanced High Income Shares ETF -...
42.92%
—Mar 2025EMCL.NEO vs AVGY.TO
CNQE.TO
Harvest CNQ Enhanced High Income Shares ETF
39.35%
—Aug 2025EMCL.NEO vs CNQE.TO
ENCL.TO
Global X Enhanced Canadian Oil and Gas Equity Cove...
36.58%
286.32MOct 2023EMCL.NEO vs ENCL.TO
NXF.TO
CI Energy Giants Covered Call ETF Common Units (CA...
32.43%
116.31MFeb 2015EMCL.NEO vs NXF.TO

Lowest Volatility Alternatives to EMCL.NEO

EMCL.NEO has 18.54% 1-year volatility. There are 52 ETFs in the Derivative Income category with lower 1-year volatility, going as low as 1.66%.

SymbolNameVolatility 1YAUMInception
HBIL.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedg...1.66%235.30MSep 2024EMCL.NEO vs HBIL.TO
HPYM.TO
Harvest Premium Yield 7-10 Year Treasury ETF - Cla...4.53%226.83MJan 2024EMCL.NEO vs HPYM.TO
UMAX.TO
Hamilton Utilities YIELD MAXIMIZER ETF6.65%1.34BJun 2023EMCL.NEO vs UMAX.TO
HLIF.TO
Harvest Canadian Equity Income Leaders ETF Class A6.85%—Jun 2022EMCL.NEO vs HLIF.TO
ZWU.TO
BMO Covered Call Utilities ETF7.59%2.17BOct 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%
235.30MSep 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...
-3.85%
226.83MJan 2024EMCL.NEO vs HPYM.TO
HUTE.TO
Harvest Equal Weight Global Utilities Enhanced Inc...
-4.57%
97.17MOct 2022EMCL.NEO vs HUTE.TO
ZWU.TO
BMO Covered Call Utilities ETF
-4.86%
2.17BOct 2011EMCL.NEO vs ZWU.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
100
0.83%
6.70BNov 2021EMCL.NEO vs CASH.TO
CBIL.TO
Global X 0-3 Month T-Bill ETFCanadian Government Bonds
99
0.85%
2.27BApr 2023EMCL.NEO vs CBIL.TO
QQCL.TO
Global X Enhanced NASDAQ-100 Covered Call ETFNasdaq-100, Derivative Income
81
20.85%
364.56MOct 2023EMCL.NEO vs QQCL.TO
HXS.TO
Global X S&P 500 Index Corporate Class ETFS&P 500
71
11.99%
6.67BNov 2010EMCL.NEO vs HXS.TO
HXT.TO
Global X S&P/TSX 60 Corporate Class ETFCanada Equities
81
10.03%
5.16BSep 2010EMCL.NEO vs HXT.TO
HSAV.TO
Global X Cash Maximizer Corporate Class ETFBank Loan
66
1.04%
1.92BFeb 2020EMCL.NEO vs HSAV.TO
CHPS.TO
Global X Artificial Intelligence Semiconductor Ind...Semiconductors, Technology Equities
94
66.03%
342.08MJun 2021EMCL.NEO vs CHPS.TO
HBNK.TO
Global X Equal Weight Banks Index ETFFinancials Equities
96
18.85%
—Jul 2023EMCL.NEO vs HBNK.TO
QQCC.TO
Global X NASDAQ-100 Covered Call ETFNasdaq-100, Derivative Income
82
16.94%
713.85MSep 2011EMCL.NEO vs QQCC.TO
GLCC.TO
Global X Gold Producer Equity Covered Call ETFDerivative Income, Gold
39
-0.45%
597.10MApr 2011EMCL.NEO vs GLCC.TO

Often Compared With EMCL.NEO

Investors most often compare EMCL.NEO with EQCC.TO, EQCL.TO, ZWC.TO. These 20 comparison targets span 8 categories, based on PortfoliosLab usage data.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
EQCC.TO
Global X All-Equity Asset Allocation Covered Call ...Derivative Income
81
12.84%
—May 2024EMCL.NEO vs EQCC.TO
EQCL.TO
Global X Enhanced All-Equity Asset Allocation Cove...Derivative Income
78
12.75%
62.65MOct 2023EMCL.NEO vs EQCL.TO
ZWC.TO
BMO CA High Dividend Covered Call ETFDerivative Income
92
11.12%
2.30BFeb 2017EMCL.NEO vs ZWC.TO
EACC.NEO
Global X MSCI EAFE Covered Call ETFDerivative Income, Foreign Large Cap Equities
38
7.82%
—May 2024EMCL.NEO vs EACC.NEO
HEQT.TO
Horizons All-Equity Asset Allocation ETFGlobal Equities
80
13.56%
—Sep 2019EMCL.NEO vs HEQT.TO
GOGY.TO
Harvest Alphabet Enhanced High Income Shares ETF C...Derivative Income
93
14.33%
—Mar 2025EMCL.NEO vs GOGY.TO
ENCC.TO
Global X Canadian Oil and Gas Equity Covered Call ...Derivative Income, Energy Equities
85
29.01%
759.08MApr 2011EMCL.NEO vs ENCC.TO
HPYT.TO
Harvest Premium Yield Treasury ETF ADerivative Income
18
-0.30%
385.04MMay 2024EMCL.NEO vs HPYT.TO
RCDC.TO
RBC Canadian Dividend Covered Call ETFDerivative Income
93
12.49%
—Jan 2023EMCL.NEO vs RCDC.TO
UTES.TO
Evolve Canadian Utilities Enhanced Yield Index Fun...Derivative Income
75
12.58%
405.53MSep 2024EMCL.NEO vs UTES.TO
EMAX.TO
Hamilton Energy YIELD MAXIMIZER ETFEnergy Equities, Derivative Income
70
30.76%
476.70MFeb 2024EMCL.NEO vs EMAX.TO
JEPI.TO
JPMorgan US Equity Premium Income Active ETFDerivative Income
28
1.48%
—Sep 2024EMCL.NEO vs JEPI.TO
YCST.NEO
Costco (COST) Yield Shares Purpose ETFDerivative Income
5
12.72%
—Feb 2025EMCL.NEO vs YCST.NEO
HDIV.TO
Hamilton Enhanced Multi-Sector Covered Call ETFDerivative Income
92
16.21%
1.63BJul 2021EMCL.NEO vs HDIV.TO
INTY.TO
Evolve International Equity UltraYield ETFDerivative Income———Jan 2026EMCL.NEO vs INTY.TO
CRCY.TO
Harvest Circle Enhanced High Income Shares ETF Cla...Derivative Income—
3.77%
—Sep 2025EMCL.NEO vs CRCY.TO
HGY.TO
Global X Gold Yield ETFGold
28
1.16%
219.30MDec 2010EMCL.NEO vs HGY.TO
XSH.TO
iShares Core Canadian Short Term Corporate Bond In...Canadian Government Bonds
53
1.33%
2.40BSep 2011EMCL.NEO vs XSH.TO
YGOG.NEO
Alphabet (GOOGL) Yield Shares Purpose ETFDerivative Income, Technology Equities
92
10.76%
62.20MDec 2022EMCL.NEO vs YGOG.NEO
HYLD
High Yield ETFHigh Yield Bonds——95.91MNov 2010EMCL.NEO vs HYLD

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