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Global X Enhanced S&P 500 Covered Call ETF (USCL.TO) Alternatives

ETF · Currency in CAD · Last updated Jul 14, 2026

USCL seeks to provide exposure to large-cap U.S. equities with a dynamic covered call writing strategy and employs approximately 125% leverage to enhance growth potential and generate high monthly income through dividends and option premiums.

Global X Enhanced S&P 500 Covered Call ETF (USCL.TO) 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 USCL.TO. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to USCL.TO

USCL.TO charges 1.61% annually. There are 73 ETFs in the Derivative Income category with lower expense ratios, going as low as 0.29%.

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

Best Risk-Adjusted Alternatives to USCL.TO

USCL.TO has a PortfoliosLab risk / return rank of 85. There are 21 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 2022USCL.TO vs HLIF.TO
CBNK.TO
Mulvihill Canadian Bank Enhanced Yield ETF
98
—Feb 2022USCL.TO vs CBNK.TO
BANK.TO
Evolve Canadian Banks and Lifecos Enhanced Yield I...
98
1.26BFeb 2022USCL.TO vs BANK.TO
ZWB.TO
BMO Covered Call Canadian Banks ETF
97
4.84BJan 2011USCL.TO vs ZWB.TO
BKCL.TO
Global X Enhanced Equal Weight Canadian Banks Cove...
97
198.10MJul 2023USCL.TO vs BKCL.TO

Top Performing USCL.TO Alternatives (YTD)

USCL.TO is at 14.62% YTD. There are 37 ETFs in the Derivative Income category with higher YTD returns, going as high as 45.98%.

SymbolNameYTD ReturnAUMInception
CBNK.TO
Mulvihill Canadian Bank Enhanced Yield ETF
45.98%
—Feb 2022USCL.TO vs CBNK.TO
ENCL.TO
Global X Enhanced Canadian Oil and Gas Equity Cove...
35.30%
271.10MOct 2023USCL.TO vs ENCL.TO
YAVG.NEO
Broadcom (AVGO) Yield Shares Purpose ETF
30.97%
—Feb 2025USCL.TO vs YAVG.NEO
BANK.TO
Evolve Canadian Banks and Lifecos Enhanced Yield I...
30.92%
1.26BFeb 2022USCL.TO vs BANK.TO
BKCL.TO
Global X Enhanced Equal Weight Canadian Banks Cove...
29.97%
198.10MJul 2023USCL.TO vs BKCL.TO

Lowest Volatility Alternatives to USCL.TO

USCL.TO has 12.41% 1-year volatility. There are 30 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 2024USCL.TO vs HBIL.TO
HPYM.TO
Harvest Premium Yield 7-10 Year Treasury ETF - Cla...4.74%259.21MJan 2024USCL.TO vs HPYM.TO
ZPH.TO
BMO US Put Write Hedged to CAD ETF6.54%35.29MFeb 2017USCL.TO vs ZPH.TO
HLIF.TO
Harvest Canadian Equity Income Leaders ETF Class A7.06%180.28MJun 2022USCL.TO vs HLIF.TO
ZPW.TO
BMO US Put Write ETF7.31%105.45MSep 2015USCL.TO vs ZPW.TO

Lowest Drawdown Alternatives to USCL.TO

USCL.TO has a 1-year max drawdown of -8.56%. There are 35 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 2024USCL.TO vs HBIL.TO
HLIF.TO
Harvest Canadian Equity Income Leaders ETF Class A
-3.09%
180.28MJun 2022USCL.TO vs HLIF.TO
HPYM.TO
Harvest Premium Yield 7-10 Year Treasury ETF - Cla...
-3.87%
259.21MJan 2024USCL.TO vs HPYM.TO
ZWU.TO
BMO Covered Call Utilities ETF
-4.86%
2.21BOct 2011USCL.TO vs ZWU.TO
UMAX.TO
Hamilton Utilities YIELD MAXIMIZER ETF
-5.11%
1.41BJun 2023USCL.TO 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
100
1.06%
6.66BNov 2021USCL.TO vs CASH.TO
CBIL.TO
Global X 0-3 Month T-Bill ETFCanadian Government Bonds
99
1.10%
2.39BApr 2023USCL.TO vs CBIL.TO
QQCL.TO
Global X Enhanced NASDAQ-100 Covered Call ETFNasdaq-100, Derivative Income
77
19.66%
370.02MOct 2023USCL.TO vs QQCL.TO
HXS.TO
Global X S&P 500 Index Corporate Class ETFS&P 500
76
13.52%
7.49BNov 2010USCL.TO vs HXS.TO
HXT.TO
Global X S&P/TSX 60 Index Corporate Class ETFCanada Equities
92
13.38%
5.40BSep 2010USCL.TO vs HXT.TO
CHPS.TO
Global X Artificial Intelligence Semiconductor Ind...Semiconductors, Technology Equities
89
56.31%
391.52MJun 2021USCL.TO vs CHPS.TO
HSAV.TO
Global X Cash Maximizer Corporate Class ETFMoney Market
64
0.90%
1.93BFeb 2020USCL.TO vs HSAV.TO
HBNK.TO
Global X Equal Weight Banks Index ETFFinancials Equities, Equal Weight
98
33.80%
—Jul 2023USCL.TO vs HBNK.TO
QQCC.TO
Global X NASDAQ-100 Covered Call ETFNasdaq-100, Derivative Income
77
15.88%
709.55MSep 2011USCL.TO vs QQCC.TO
ENCC.TO
Global X Canadian Oil and Gas Equity Covered Call ...Derivative Income, Energy Equities
89
28.07%
714.60MApr 2011USCL.TO vs ENCC.TO

Often Compared With USCL.TO

Investors most often compare USCL.TO with HYLD.TO, MSTE.TO, SDAY.NEO. These 20 comparison targets span 11 categories, based on PortfoliosLab usage data.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
HYLD.TO
Hamilton Enhanced U.S. Covered Call ETFDerivative Income
74
14.77%
1.32BFeb 2022USCL.TO vs HYLD.TO
MSTE.TO
Harvest Strategy Inc. Enhanced High Income Shares ...Derivative Income
1
-45.07%
297.99MMar 2025USCL.TO vs MSTE.TO
SDAY.NEO
Hamilton Enhanced U.S. Equity DayMAX™ ETFDerivative Income—
17.83%
0.00Jul 2025USCL.TO vs SDAY.NEO
VFV.TO
Vanguard S&P 500 Index ETFS&P 500
79
13.78%
34.09BNov 2012USCL.TO vs VFV.TO
QQQY
Defiance Nasdaq 100 Enhanced Options Income ETFNasdaq-100, Options Trading, Dividend
60
15.28%
190.88MSep 2023USCL.TO vs QQQY
TSLA.TO
Tesla CDR (CAD Hedged)
61
-13.39%
——USCL.TO vs TSLA.TO
XEQT.TO
iShares Core Equity ETF PortfolioGlobal Equities
86
13.91%
20.34BAug 2019USCL.TO vs XEQT.TO
HDIV.TO
Hamilton Enhanced Canadian Covered Call ETFDerivative Income
95
19.24%
1.74BJul 2021USCL.TO vs HDIV.TO
SMAX.TO
Hamilton U.S. Equity YIELD MAXIMIZER ETFDerivative Income
92
18.22%
1.10BOct 2023USCL.TO vs SMAX.TO
IDVO
Amplify CWP International Enhanced Dividend Income...Derivative Income, Dividend, Foreign Large Cap Equities
76
13.40%
1.30BSep 2022USCL.TO vs IDVO
SPY
State Street SPDR S&P 500 ETFS&P 500
66
10.45%
783.21BJan 1993USCL.TO vs SPY
HYLD-U.TO
Hamilton Enhanced U.S. Covered Call ETF (USD)Derivative Income
79
16.37%
931.81MFeb 2022USCL.TO vs HYLD-U.TO
USCC.TO
Global X S&P 500 Covered Call ETFDerivative Income, S&P 500
86
11.95%
563.51MSep 2011USCL.TO vs USCC.TO
EQCL.TO
Global X Enhanced All-Equity Asset Allocation Cove...Derivative Income
86
15.21%
66.30MOct 2023USCL.TO vs EQCL.TO
GLDX.TO
Global X Gold Producers Index ETFGold, Precious Metals
35
-12.76%
—Nov 2024USCL.TO vs GLDX.TO
HLIT.TO
Global X Lithium Producers Index ETFLithium & Battery Metals
54
0.42%
—Jun 2021USCL.TO vs HLIT.TO
PDIV.TO
Purpose Enhanced Dividend Fund ETFDividend
92
9.98%
229.70MJan 2018USCL.TO vs PDIV.TO
PAYG.TO
Brompton Global Equity HighPay ETFGlobal Equity Income, Derivative Income———Mar 2026USCL.TO vs PAYG.TO
ZSP.TO
BMO S&P 500 Index ETFS&P 500
78
13.73%
24.35BNov 2012USCL.TO vs ZSP.TO
BKCC.TO
Global X Equal Weight Canadian Bank Covered Call E...Derivative Income
97
23.91%
400.33MMay 2011USCL.TO vs BKCC.TO

Compare USCL.TO with Any Fund or Stock

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

 

Diversifiers

Pair USCL.TO with funds that move differently

Global X Enhanced S&P 500 Covered Call ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to USCL.TO.

Explore USCL.TO Diversifiers