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

ETF · Currency in CAD · Last updated Aug 4, 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 109 ETFs in the Derivative Income category with lower expense ratios, going as low as 0.21%.

SymbolNameExpense RatioAUMInception
QQCI.TO
Invesco NASDAQ 100 Income Advantage ETF0.21%63.79MAug 2024USCL.TO vs QQCI.TO
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
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 77. There are 32 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
195.83MJun 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
1.33BFeb 2022USCL.TO vs BANK.TO
ZWB.TO
BMO Covered Call Canadian Banks ETF
97
4.77BJan 2011USCL.TO vs ZWB.TO
BKCC.TO
Global X Equal Weight Canadian Bank Covered Call E...
97
405.23MMay 2011USCL.TO vs BKCC.TO

Top Performing USCL.TO Alternatives (YTD)

USCL.TO is at 13.52% YTD. There are 39 ETFs in the Derivative Income category with higher YTD returns, going as high as 44.23%.

SymbolNameYTD ReturnAUMInception
CBNK.TO
Mulvihill Canadian Bank Enhanced Yield ETF
44.23%
—Feb 2022USCL.TO vs CBNK.TO
CNQE.TO
Harvest CNQ Enhanced High Income Shares ETF
41.00%
—Aug 2025USCL.TO vs CNQE.TO
ENCL.TO
Global X Enhanced Canadian Oil and Gas Equity Cove...
39.90%
295.63MOct 2023USCL.TO vs ENCL.TO
HPF.TO
Harvest Energy Leaders Income ETF – Class A Units
37.52%
69.39MOct 2014USCL.TO vs HPF.TO
NXF.TO
CI Energy Giants Covered Call ETF Common Units (CA...
34.00%
140.96MFeb 2015USCL.TO vs NXF.TO

Lowest Volatility Alternatives to USCL.TO

USCL.TO has 12.86% 1-year volatility. There are 42 ETFs in the Derivative Income category with lower 1-year volatility, going as low as 1.80%.

SymbolNameVolatility 1YAUMInception
HBIL.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedg...1.80%214.20MSep 2024USCL.TO vs HBIL.TO
HBIL-U.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhed...1.97%152.80MSep 2024USCL.TO vs HBIL-U.TO
PYF.TO
Purpose Premium Yield Fund Series ETF3.28%682.20MNov 2018USCL.TO vs PYF.TO
HPYM.TO
Harvest Premium Yield 7-10 Year Treasury ETF - Cla...4.70%249.28MJan 2024USCL.TO vs HPYM.TO
PINC.TO
Purpose Multi-Asset Income Fund6.37%108.20MApr 2018USCL.TO vs PINC.TO

Lowest Drawdown Alternatives to USCL.TO

USCL.TO has a 1-year max drawdown of -8.56%. There are 44 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%
214.20MSep 2024USCL.TO vs HBIL.TO
HBIL-U.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhed...
-1.32%
152.80MSep 2024USCL.TO vs HBIL-U.TO
PYF.TO
Purpose Premium Yield Fund Series ETF
-2.11%
682.20MNov 2018USCL.TO vs PYF.TO
HLIF.TO
Harvest Canadian Equity Income Leaders ETF Class A
-3.09%
195.83MJun 2022USCL.TO vs HLIF.TO
PINC.TO
Purpose Multi-Asset Income Fund
-3.59%
108.20MApr 2018USCL.TO vs PINC.TO

Other ETFs from Global X

The 10 most viewed Global X ETFs shown here include CASH.TO, HXQ.TO, CBIL.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
1.20%
6.55BNov 2021USCL.TO vs CASH.TO
HXQ.TO
Global X Nasdaq-100 Index Corporate Class ETFNasdaq-100
49
14.56%
1.73BApr 2016USCL.TO vs HXQ.TO
CBIL.TO
Global X 0-3 Month T-Bill ETFCanadian Government Bonds
99
1.23%
2.56BApr 2023USCL.TO vs CBIL.TO
QQCL.TO
Global X Enhanced NASDAQ-100 Covered Call ETFNasdaq-100, Derivative Income
54
14.15%
353.68MOct 2023USCL.TO vs QQCL.TO
HXS.TO
Global X S&P 500 Index Corporate Class ETFS&P 500
67
12.29%
7.40BNov 2010USCL.TO vs HXS.TO
HXT.TO
Global X S&P/TSX 60 Index Corporate Class ETFCanada Equities
93
13.38%
5.48BSep 2010USCL.TO vs HXT.TO
CHPS.TO
Global X Artificial Intelligence Semiconductor Ind...Artificial Intelligence, Semiconductors, Technology Equities
78
44.43%
370.09MJun 2021USCL.TO vs CHPS.TO
HSAV.TO
Global X Cash Maximizer Corporate Class ETFMoney Market
63
1.00%
1.93BFeb 2020USCL.TO vs HSAV.TO
HBNK.TO
Global X Equal Weight Banks Index ETFFinancials Equities, Equal Weight
98
33.04%
—Jul 2023USCL.TO vs HBNK.TO
QQCC.TO
Global X NASDAQ-100 Covered Call ETFNasdaq-100, Derivative Income
53
11.50%
683.57MSep 2011USCL.TO vs QQCC.TO

Often Compared With USCL.TO

Investors most often compare USCL.TO with HYLD.TO, MSTE.TO, VFV.TO. These 20 comparison targets span 12 categories, based on PortfoliosLab usage data.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
HYLD.TO
Hamilton Enhanced U.S. Covered Call ETFDerivative Income
65
11.33%
1.30BFeb 2022USCL.TO vs HYLD.TO
MSTE.TO
Harvest Strategy Inc. Enhanced High Income Shares ...Derivative Income
1
-43.37%
295.90MMar 2025USCL.TO vs MSTE.TO
VFV.TO
Vanguard S&P 500 Index ETFS&P 500
70
12.34%
34.09BNov 2012USCL.TO vs VFV.TO
SDAY.NEO
Hamilton Enhanced U.S. Equity DayMAX™ ETFDerivative Income
70
16.60%
0.00Jul 2025USCL.TO vs SDAY.NEO
QQQY
Defiance Nasdaq 100 Enhanced Options Income ETFNasdaq-100, Options Trading, Dividend
55
13.77%
180.69MSep 2023USCL.TO vs QQQY
TSLA.TO
Tesla CDR (CAD Hedged)
41
-31.84%
——USCL.TO vs TSLA.TO
HDIV.TO
Hamilton Enhanced Canadian Covered Call ETFDerivative Income
95
18.30%
1.79BJul 2021USCL.TO vs HDIV.TO
XEQT.TO
iShares Core Equity ETF PortfolioGlobal Equities
85
13.38%
20.80BAug 2019USCL.TO vs XEQT.TO
SMAX.TO
Hamilton U.S. Equity YIELD MAXIMIZER ETFDerivative Income
86
14.76%
1.08BOct 2023USCL.TO vs SMAX.TO
IDVO
Amplify CWP International Enhanced Dividend Income...Derivative Income, Dividend, Foreign Large Cap Equities
86
15.22%
1.35BSep 2022USCL.TO vs IDVO
HYLD-U.TO
Hamilton Enhanced U.S. Covered Call ETF (USD)Derivative Income, Options Trading, Actively Managed
72
13.08%
927.41MFeb 2022USCL.TO vs HYLD-U.TO
SPY
State Street SPDR S&P 500 ETFS&P 500
78
11.70%
789.06BJan 1993USCL.TO vs SPY
USCC.TO
Global X S&P 500 Covered Call ETFDerivative Income, S&P 500
81
11.09%
558.31MSep 2011USCL.TO vs USCC.TO
EQCL.TO
Global X Enhanced All-Equity Asset Allocation Cove...Derivative Income
83
14.79%
66.89MOct 2023USCL.TO vs EQCL.TO
GLDX.TO
Global X Gold Producers Index ETFGold, Precious Metals
40
-13.39%
—Nov 2024USCL.TO vs GLDX.TO
HLIT.TO
Global X Lithium Producers Index ETFLithium & Battery Metals
53
-5.18%
—Jun 2021USCL.TO vs HLIT.TO
PDIV.TO
Purpose Enhanced Dividend Fund ETFDividend
94
11.04%
235.10MJan 2018USCL.TO vs PDIV.TO
ZSP.TO
BMO S&P 500 Index ETFS&P 500
69
12.26%
24.00BNov 2012USCL.TO vs ZSP.TO
PAYG.TO
Brompton Global Equity HighPay ETFGlobal Equity Income, Derivative Income, Options Trading, Actively Managed———Mar 2026USCL.TO vs PAYG.TO
HHIS.TO
Harvest Diversified High Income Shares ETFDerivative Income
16
1.29%
1.82BJan 2025USCL.TO vs HHIS.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