BCCL.NEO vs. CBNK.TO
BCCL.NEO (Global X Enhanced Bitcoin Covered Call ETF) and CBNK.TO (Mulvihill Canadian Bank Enhanced Yield ETF) are both Derivative Income funds. Both are actively managed. Over the past year, BCCL.NEO returned -40.36% vs 79.20% for CBNK.TO. At a 0.24 correlation, their price movements are largely independent.
Performance
BCCL.NEO vs. CBNK.TO - Performance Comparison
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Returns By Period
In the year-to-date period, BCCL.NEO achieves a -27.54% return, which is significantly lower than CBNK.TO's 25.56% return.
BCCL.NEO
- 1D
- -3.22%
- 1M
- -17.13%
- YTD
- -27.54%
- 6M
- -33.09%
- 1Y
- -40.36%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CBNK.TO
- 1D
- 0.42%
- 1M
- 7.74%
- YTD
- 25.56%
- 6M
- 32.17%
- 1Y
- 79.20%
- 3Y*
- 38.97%
- 5Y*
- —
- 10Y*
- —
BCCL.NEO vs. CBNK.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BCCL.NEO Global X Enhanced Bitcoin Covered Call ETF | -27.54% | -6.58% |
CBNK.TO Mulvihill Canadian Bank Enhanced Yield ETF | 25.56% | 56.51% |
Correlation
The correlation between BCCL.NEO and CBNK.TO is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since May 1, 2025 | 0.24 |
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Return for Risk
BCCL.NEO vs. CBNK.TO — Risk / Return Rank
BCCL.NEO
CBNK.TO
BCCL.NEO vs. CBNK.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Enhanced Bitcoin Covered Call ETF (BCCL.NEO) and Mulvihill Canadian Bank Enhanced Yield ETF (CBNK.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.
| BCCL.NEO | CBNK.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -6.04 | ||
| Sortino ratioReturn per unit of downside risk | -8.07 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.87 | -1.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | 7.94 | -8.71 |
| Martin ratioReturn relative to average drawdown | -1.36 | 34.25 | -35.61 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BCCL.NEO | CBNK.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.92 | 5.12 | -6.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.69 | 1.10 | -1.79 |
Drawdowns
BCCL.NEO vs. CBNK.TO - Drawdown Comparison
The maximum BCCL.NEO drawdown since its inception was -52.47%, which is greater than CBNK.TO's maximum drawdown of -32.12%. Use the drawdown chart below to compare losses from any high point for BCCL.NEO and CBNK.TO.
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Drawdown Indicators
| BCCL.NEO | CBNK.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.47% | -32.12% | -20.35% |
Max Drawdown (1Y)Largest decline over 1 year | -52.47% | -10.03% | -42.44% |
Max Drawdown (3Y)Largest decline over 3 years | — | -17.92% | — |
Current DrawdownCurrent decline from peak | -50.69% | -2.29% | -48.40% |
Average DrawdownAverage peak-to-trough decline | -22.15% | -10.92% | -11.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.80% | 2.32% | +27.48% |
Volatility
BCCL.NEO vs. CBNK.TO - Volatility Comparison
Global X Enhanced Bitcoin Covered Call ETF (BCCL.NEO) has a higher volatility of 12.21% compared to Mulvihill Canadian Bank Enhanced Yield ETF (CBNK.TO) at 5.67%. This indicates that BCCL.NEO's price experiences larger fluctuations and is considered to be riskier than CBNK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BCCL.NEO | CBNK.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.21% | 5.67% | +6.54% |
Volatility (6M)Calculated over the trailing 6-month period | 32.89% | 13.29% | +19.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.98% | 15.55% | +28.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.65% | 17.55% | +26.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.65% | 17.55% | +26.10% |
Dividends
BCCL.NEO vs. CBNK.TO - Dividend Comparison
BCCL.NEO's dividend yield for the trailing twelve months is around 40.66%, more than CBNK.TO's 5.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BCCL.NEO Global X Enhanced Bitcoin Covered Call ETF | 40.66% | 16.02% | 0.00% | 0.00% | 0.00% |
CBNK.TO Mulvihill Canadian Bank Enhanced Yield ETF | 5.94% | 5.86% | 8.25% | 9.59% | 7.85% |
Frequently Asked Questions
BCCL.NEO and CBNK.TO have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Global X and Mulvihill.
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