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Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD (ENCL.TO) Alternatives

ETF · Currency in CAD · Last updated Jun 24, 2026

ENCL seeks to provide exposure to an index of Canadian crude oil and natural gas companies while generating high monthly distributions through dividend income and a dynamic covered call option writing program, employing leverage to enhance returns.

Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD (ENCL.TO) belongs to the Energy Equities category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with ENCL.TO. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to ENCL.TO

ENCL.TO charges 1.86% annually. There are 12 ETFs in the Energy Equities category with lower expense ratios, going as low as 0.27%.

SymbolNameExpense RatioAUMInception
HXE.TO
Global X S&P/TSX Capped Energy Index Corporate Cla...0.27%126.54MSep 2013ENCL.TO vs HXE.TO
PPLN.TO
Global X Equal Weight Canadian Pipelines Index ETF0.31%—Jul 2014ENCL.TO vs PPLN.TO
NRGY.TO
Global X Equal Weight Canadian Oil & Gas Index ETF0.49%257.58MNov 2024ENCL.TO vs NRGY.TO
XBM.TO
iShares S&P/TSX Global Base Metals Index ETF0.60%661.86MApr 2011ENCL.TO vs XBM.TO
ZEO.TO
BMO Equal Weight Oil & Gas Index ETF0.60%326.77MOct 2009ENCL.TO vs ZEO.TO

Best Risk-Adjusted Alternatives to ENCL.TO

ENCL.TO has a PortfoliosLab risk / return rank of 76. There are 5 ETFs in the Energy Equities category with higher risk-adjusted ranks, going as high as 84.

SymbolNameRisk / Return RankAUMInception
PPLN.TO
Global X Equal Weight Canadian Pipelines Index ETF
84
—Jul 2014ENCL.TO vs PPLN.TO
NRGY.TO
Global X Equal Weight Canadian Oil & Gas Index ETF
84
257.58MNov 2024ENCL.TO vs NRGY.TO
CIF.TO
iShares Global Infrastructure Index ETF
79
1.57BAug 2008ENCL.TO vs CIF.TO
ZEO.TO
BMO Equal Weight Oil & Gas Index ETF
78
326.77MOct 2009ENCL.TO vs ZEO.TO
ENCC.TO
Global X Canadian Oil and Gas Equity Covered Call ...
77
708.27MApr 2011ENCL.TO vs ENCC.TO

Top Performing ENCL.TO Alternatives (YTD)

ENCL.TO is at 30.80% YTD. There are 4 ETFs in the Energy Equities category with higher YTD returns, going as high as 36.48%.

SymbolNameYTD ReturnAUMInception
NNRG.NEO
Ninepoint Energy ETF
36.48%
1.38BMay 2021ENCL.TO vs NNRG.NEO
NRGY.TO
Global X Equal Weight Canadian Oil & Gas Index ETF
32.04%
257.58MNov 2024ENCL.TO vs NRGY.TO
ZEO.TO
BMO Equal Weight Oil & Gas Index ETF
31.93%
326.77MOct 2009ENCL.TO vs ZEO.TO
PPLN.TO
Global X Equal Weight Canadian Pipelines Index ETF
31.63%
—Jul 2014ENCL.TO vs PPLN.TO
HXE.TO
Global X S&P/TSX Capped Energy Index Corporate Cla...
30.57%
126.54MSep 2013ENCL.TO vs HXE.TO

Lowest Volatility Alternatives to ENCL.TO

ENCL.TO has 18.36% 1-year volatility. There are 6 ETFs in the Energy Equities category with lower 1-year volatility, going as low as 14.53%.

SymbolNameVolatility 1YAUMInception
ENCC.TO
Global X Canadian Oil and Gas Equity Covered Call ...14.53%708.27MApr 2011ENCL.TO vs ENCC.TO
PPLN.TO
Global X Equal Weight Canadian Pipelines Index ETF14.78%—Jul 2014ENCL.TO vs PPLN.TO
CIF.TO
iShares Global Infrastructure Index ETF15.62%1.57BAug 2008ENCL.TO vs CIF.TO
ZWEN.TO
BMO Covered Call Energy ETF17.11%128.30MJan 2023ENCL.TO vs ZWEN.TO
ZEO.TO
BMO Equal Weight Oil & Gas Index ETF17.35%326.77MOct 2009ENCL.TO vs ZEO.TO

Lowest Drawdown Alternatives to ENCL.TO

ENCL.TO has a 1-year max drawdown of -10.75%. There are 6 ETFs in the Energy Equities category with shallower 1-year drawdowns, going as shallow as -8.48%.

SymbolNameMax Drawdown 1YAUMInception
ENCC.TO
Global X Canadian Oil and Gas Equity Covered Call ...
-8.48%
708.27MApr 2011ENCL.TO vs ENCC.TO
NRGY.TO
Global X Equal Weight Canadian Oil & Gas Index ETF
-9.49%
257.58MNov 2024ENCL.TO vs NRGY.TO
CIF.TO
iShares Global Infrastructure Index ETF
-9.49%
1.57BAug 2008ENCL.TO vs CIF.TO
ZWEN.TO
BMO Covered Call Energy ETF
-9.50%
128.30MJan 2023ENCL.TO vs ZWEN.TO
ZEO.TO
BMO Equal Weight Oil & Gas Index ETF
-9.54%
326.77MOct 2009ENCL.TO vs ZEO.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
99
0.95%
6.67BNov 2021ENCL.TO vs CASH.TO
CBIL.TO
Global X 0-3 Month T-Bill ETFCanadian Government Bonds
99
0.97%
2.36BApr 2023ENCL.TO vs CBIL.TO
QQCL.TO
Global X Enhanced NASDAQ-100 Covered Call ETFNasdaq-100, Derivative Income
76
20.21%
379.27MOct 2023ENCL.TO vs QQCL.TO
HXS.TO
Global X S&P 500 Index Corporate Class ETFS&P 500
69
11.68%
7.12BNov 2010ENCL.TO vs HXS.TO
HXT.TO
Global X S&P/TSX 60 Index Corporate Class ETFCanada Equities
86
11.58%
5.30BSep 2010ENCL.TO vs HXT.TO
CHPS.TO
Global X Artificial Intelligence Semiconductor Ind...Semiconductors, Technology Equities
92
62.84%
416.39MJun 2021ENCL.TO vs CHPS.TO
HSAV.TO
Global X Cash Maximizer Corporate Class ETFMoney Market
61
0.90%
1.92BFeb 2020ENCL.TO vs HSAV.TO
HBNK.TO
Global X Equal Weight Banks Index ETFFinancials Equities, Equal Weight
97
30.68%
—Jul 2023ENCL.TO vs HBNK.TO
USCL.TO
Global X Enhanced S&P 500 Covered Call ETFDerivative Income, S&P 500
76
12.30%
250.98MJul 2023ENCL.TO vs USCL.TO
QQCC.TO
Global X NASDAQ-100 Covered Call ETFNasdaq-100, Derivative Income
77
16.46%
732.86MSep 2011ENCL.TO vs QQCC.TO

Often Compared With ENCL.TO

Investors most often compare ENCL.TO with UTES.TO, XEG.TO, UMAX.TO. These 20 comparison targets span 6 categories, based on PortfoliosLab usage data.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
UTES.TO
Evolve Canadian Utilities Enhanced Yield Index Fun...Derivative Income
86
14.78%
412.15MSep 2024ENCL.TO vs UTES.TO
XEG.TO
iShares S&P/TSX Capped Energy Index ETFEnergy Equities, Canada Equities
62
30.47%
2.38BMar 2001ENCL.TO vs XEG.TO
UMAX.TO
Hamilton Utilities YIELD MAXIMIZER ETFDerivative Income, Utilities Equities
74
9.83%
1.36BJun 2023ENCL.TO vs UMAX.TO
OILY.TO
Evolve Canadian Energy Enhanced Yield Index Fund E...Energy Equities
62
26.92%
—Mar 2025ENCL.TO vs OILY.TO
BANK.TO
Evolve Canadian Banks and Lifecos Enhanced Yield I...Derivative Income
97
27.46%
1.16BFeb 2022ENCL.TO vs BANK.TO
HHIS.TO
Harvest Diversified High Income Shares ETFDerivative Income
23
4.33%
1.74BJan 2025ENCL.TO vs HHIS.TO
XEQT.TO
iShares Core Equity ETF PortfolioGlobal Equities
80
12.92%
19.56BAug 2019ENCL.TO vs XEQT.TO
ECHI.TO
Ninepoint Enhanced Canadian HighShares ETFDerivative Income—
14.52%
—Aug 2025ENCL.TO vs ECHI.TO
EMAX.TO
Hamilton Energy YIELD MAXIMIZER ETFEnergy Equities, Derivative Income
51
22.48%
467.50MFeb 2024ENCL.TO vs EMAX.TO
JEPI.TO
JPMorgan US Equity Premium Income Active ETFDerivative Income
38
4.57%
—Sep 2024ENCL.TO vs JEPI.TO
HDIV.TO
Hamilton Enhanced Canadian Covered Call ETFDerivative Income
93
18.72%
1.70BJul 2021ENCL.TO vs HDIV.TO
TTP.TO
TD Canadian Equity Index ETFCanada Equities
81
11.16%
6.22BMar 2016ENCL.TO vs TTP.TO
ENS.TO
E Split Corp.
93
33.14%
——ENCL.TO vs ENS.TO
HMAX.TO
Hamilton Canadian Financials Yield Maximizer ETFDerivative Income
95
17.83%
2.47BJan 2023ENCL.TO vs HMAX.TO
EQCC.TO
Global X All-Equity Asset Allocation Covered Call ...Derivative Income
79
12.17%
—May 2024ENCL.TO vs EQCC.TO
USOY
Defiance Oil Enhanced Options Income ETFDerivative Income
26
34.69%
66.18MMay 2024ENCL.TO vs USOY
XIC.TO
iShares Core S&P/TSX Capped Composite Index ETFCanada Equities
81
11.29%
30.44BFeb 2001ENCL.TO vs XIC.TO
HYLD.TO
Hamilton Enhanced U.S. Covered Call ETFDerivative Income
64
12.62%
1.30BFeb 2022ENCL.TO vs HYLD.TO
FLI.TO
CI U.S. & Canada Lifeco Covered Call ETF (Hedged C...Derivative Income
56
12.46%
87.79MAug 2013ENCL.TO vs FLI.TO
QQQY.TO
Evolve NASDAQ Technology Enhanced Yield Index FundNasdaq-100, Derivative Income
61
14.40%
133.42MOct 2025ENCL.TO vs QQQY.TO

Compare ENCL.TO with Any Fund or Stock

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

 

Diversifiers

Pair ENCL.TO with funds that move differently

Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to ENCL.TO.

Explore ENCL.TO Diversifiers