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

ETF · Currency in CAD · Last updated Jun 4, 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.

Looking to diversify beyond ENCL.TO? The ETFs below have the lowest correlation with ENCL.TO — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from ENCL.TO.

Best Diversifiers for ENCL.TO

51 ETFs have low correlation with ENCL.TO (below 0.3), 40 of which are negatively correlated.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
HBIL.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedg...-0.22——
56
Derivative Income, Short-Term BondENCL.TO vs HBIL.TO
QQCC.TO
Global X NASDAQ-100 Covered Call ETF-0.20——
82
Nasdaq-100, Derivative IncomeENCL.TO vs QQCC.TO
QMAX.TO
Hamilton Technology YIELD MAXIMIZER ETF-0.19——
52
Technology Equities, Derivative IncomeENCL.TO vs QMAX.TO
QQQT.TO
Evolve NASDAQ Technology Index Fund CAD Hedged-0.18——
82
Nasdaq-100, Technology EquitiesENCL.TO vs QQQT.TO
QQCL.TO
Global X Enhanced NASDAQ-100 Covered Call ETF-0.18——
81
Nasdaq-100, Derivative IncomeENCL.TO vs QQCL.TO
See all 59 diversifiers for ENCL.TO

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Diversification Analysis

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