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BANK.TO vs. ENCC.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BANK.TO vs. ENCC.TO

Last updated Jun 4, 2026

BANK.TO (Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund) and ENCC.TO (Global X Canadian Oil and Gas Equity Covered Call ETF) are both Derivative Income funds. BANK.TO is passively managed, while ENCC.TO is actively managed. Over the past 3 years, BANK.TO returned 31.96%/yr vs 22.89%/yr for ENCC.TO. At a 0.27 correlation, their price movements are largely independent. BANK.TO charges 0.60%/yr vs 0.76%/yr for ENCC.TO.

Performance

BANK.TO vs. ENCC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.TO) and Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, BANK.TO achieves a 17.36% return, which is significantly lower than ENCC.TO's 29.01% return.

BANK.TO

1D
-0.47%
1M
6.16%
YTD
17.36%
6M
23.52%
1Y
55.24%
3Y*
31.96%
5Y*
—
10Y*
—

ENCC.TO

1D
0.93%
1M
2.37%
YTD
29.01%
6M
25.71%
1Y
41.57%
3Y*
22.89%
5Y*
25.31%
10Y*
8.49%
*Multi-year figures are annualized to reflect compound growth (CAGR)

BANK.TO vs. ENCC.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022
BANK.TO
Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund		17.36%41.00%27.90%16.23%-20.47%
ENCC.TO
Global X Canadian Oil and Gas Equity Covered Call ETF		29.01%13.13%17.39%5.72%17.45%

Correlation

The correlation between BANK.TO and ENCC.TO is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.17

Correlation (3Y)
Calculated over the trailing 3-year period

0.17

Correlation (All Time)
Calculated using the full available price history since Feb 3, 2022

0.27

The correlation between BANK.TO and ENCC.TO shifts across timeframes, from -0.17 (1 year) to 0.27 (all time), reflecting how their relationship changes across market environments.

BANK.TO vs. ENCC.TO - Sectors Allocation Comparison

Sectors
BANK.TO
ENCC.TO

Financial Services

100.0%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

100.0%

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Financial Services

BANK.TO
100.0%
ENCC.TO

-

Basic Materials

BANK.TO

-

ENCC.TO

-

Communication Services

BANK.TO

-

ENCC.TO

-

Consumer Cyclical

BANK.TO

-

ENCC.TO

-

Consumer Defensive

BANK.TO

-

ENCC.TO

-

Energy

BANK.TO

-

ENCC.TO
100.0%

Healthcare

BANK.TO

-

ENCC.TO

-

Industrials

BANK.TO

-

ENCC.TO

-

Real Estate

BANK.TO

-

ENCC.TO

-

Technology

BANK.TO

-

ENCC.TO

-

Utilities

BANK.TO

-

ENCC.TO

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund

Global X Canadian Oil and Gas Equity Covered Call ETF

Often compared with BANK.TO:
BANK.TO vs. HMAX.TOBANK.TO vs. HCAL.TOBANK.TO vs. VDY.TOBANK.TO vs. RBNK.TOBANK.TO vs. HYLD.TOBANK.TO vs. VCN.TOBANK.TO vs. VEQT.TO
Often compared with ENCC.TO:
ENCC.TO vs. ENCL.TOENCC.TO vs. EMAX.TOENCC.TO vs. ZEOENCC.TO vs. HMAX.TOENCC.TO vs. XEQT.TOENCC.TO vs. XDIV.TOENCC.TO vs. OILY.TO

Return for Risk

BANK.TO vs. ENCC.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BANK.TO
BANK.TO Risk / Return Rank: 9696
Overall Rank
BANK.TO Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
BANK.TO Sortino Ratio Rank: 9797
Sortino Ratio Rank
BANK.TO Omega Ratio Rank: 9696
Omega Ratio Rank
BANK.TO Calmar Ratio Rank: 9393
Calmar Ratio Rank
BANK.TO Martin Ratio Rank: 9595
Martin Ratio Rank
ENCC.TO
ENCC.TO Risk / Return Rank: 8585
Overall Rank
ENCC.TO Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
ENCC.TO Sortino Ratio Rank: 8484
Sortino Ratio Rank
ENCC.TO Omega Ratio Rank: 8585
Omega Ratio Rank
ENCC.TO Calmar Ratio Rank: 8686
Calmar Ratio Rank
ENCC.TO Martin Ratio Rank: 8484
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BANK.TO vs. ENCC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.TO) and Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

BANK.TOENCC.TODifference
Sharpe ratioReturn per unit of total volatility
4.59
2.98

+1.62

Sortino ratioReturn per unit of downside risk
6.28
3.81

+2.47

Omega ratioGain probability vs. loss probability

1.85

1.53

+0.32

Calmar ratioReturn relative to maximum drawdown

6.75

4.93

+1.82

Martin ratioReturn relative to average drawdown

29.78

17.54

+12.25

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BANK.TO vs. ENCC.TO - Sharpe Ratio Comparison

The current BANK.TO Sharpe Ratio is 4.59, which is higher than the ENCC.TO Sharpe Ratio of 2.98. The chart below compares the historical Sharpe Ratios of BANK.TO and ENCC.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

BANK.TOENCC.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

4.59

2.98

+1.62

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

1.11

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.29

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.08

0.00

+1.08

Drawdowns

BANK.TO vs. ENCC.TO - Drawdown Comparison

The maximum BANK.TO drawdown since its inception was -29.03%, smaller than the maximum ENCC.TO drawdown of -89.91%. Use the drawdown chart below to compare losses from any high point for BANK.TO and ENCC.TO.

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Drawdown Indicators

BANK.TOENCC.TODifference

Max Drawdown

Largest peak-to-trough decline

-29.03%

-89.91%

+60.88%

Max Drawdown (1Y)

Largest decline over 1 year

-8.23%

-8.48%

+0.25%

Max Drawdown (3Y)

Largest decline over 3 years

-15.49%

-16.67%

+1.18%

Max Drawdown (5Y)

Largest decline over 5 years

—

-25.57%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-82.16%

—

Current Drawdown

Current decline from peak

-1.16%

-1.99%

+0.83%

Average Drawdown

Average peak-to-trough decline

-8.81%

-39.82%

+31.01%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.86%

2.38%

-0.52%

Volatility

BANK.TO vs. ENCC.TO - Volatility Comparison

The current volatility for Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.TO) is 4.28%, while Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.TO) has a volatility of 5.66%. This indicates that BANK.TO experiences smaller price fluctuations and is considered to be less risky than ENCC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BANK.TOENCC.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.28%

5.66%

-1.38%

Volatility (6M)

Calculated over the trailing 6-month period

10.45%

12.36%

-1.91%

Volatility (1Y)

Calculated over the trailing 1-year period

12.09%

14.08%

-1.99%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.65%

23.03%

-7.38%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.65%

29.05%

-13.40%

BANK.TO vs. ENCC.TO - Expense Ratio Comparison

BANK.TO has a 0.60% expense ratio, which is lower than ENCC.TO's 0.76% expense ratio.

Dividends

BANK.TO vs. ENCC.TO - Dividend Comparison

BANK.TO's dividend yield for the trailing twelve months is around 13.02%, more than ENCC.TO's 11.09% yield.

PositionTTM20252024202320222021202020192018201720162015
BANK.TO
Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund		13.02%13.73%15.28%13.60%10.52%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
ENCC.TO
Global X Canadian Oil and Gas Equity Covered Call ETF		11.09%13.62%14.58%14.87%12.55%4.23%5.10%6.09%8.35%6.92%4.77%15.15%

Frequently Asked Questions

BANK.TO and ENCC.TO have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, BANK.TO is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

BANK.TO is cheaper with a 0.60% expense ratio, compared with 0.76% for ENCC.TO.

They also come from different issuers: Evolve and Global X. Their fees differ too: 0.60% for BANK.TO and 0.76% for ENCC.TO.

Portfolio Optimizer

Find the right allocation for BANK.TO and ENCC.TO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

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