BCCL.NEO vs. HMAX.TO
BCCL.NEO (Global X Enhanced Bitcoin Covered Call ETF) and HMAX.TO (Hamilton Canadian Financials YIELD MAXIMIZER ETF) are both Derivative Income funds. Both are actively managed. Over the past year, BCCL.NEO returned -40.36% vs 35.28% for HMAX.TO. At a 0.29 correlation, their price movements are largely independent.
Performance
BCCL.NEO vs. HMAX.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 HMAX.TO's 11.17% return.
BCCL.NEO
- 1D
- -3.22%
- 1M
- -17.13%
- YTD
- -27.54%
- 6M
- -33.09%
- 1Y
- -40.36%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HMAX.TO
- 1D
- -0.55%
- 1M
- 4.52%
- YTD
- 11.17%
- 6M
- 14.64%
- 1Y
- 35.28%
- 3Y*
- 21.76%
- 5Y*
- —
- 10Y*
- —
BCCL.NEO vs. HMAX.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BCCL.NEO Global X Enhanced Bitcoin Covered Call ETF | -27.54% | -6.58% |
HMAX.TO Hamilton Canadian Financials YIELD MAXIMIZER ETF | 11.17% | 28.42% |
Correlation
The correlation between BCCL.NEO and HMAX.TO is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since May 1, 2025 | 0.29 |
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Return for Risk
BCCL.NEO vs. HMAX.TO — Risk / Return Rank
BCCL.NEO
HMAX.TO
BCCL.NEO vs. HMAX.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 Hamilton Canadian Financials YIELD MAXIMIZER ETF (HMAX.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 | HMAX.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.48 | ||
| Sortino ratioReturn per unit of downside risk | -6.34 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.67 | -0.82 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | 4.86 | -5.63 |
| Martin ratioReturn relative to average drawdown | -1.36 | 21.27 | -22.62 |
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 | HMAX.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.92 | 3.56 | -4.48 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.69 | 1.54 | -2.23 |
Drawdowns
BCCL.NEO vs. HMAX.TO - Drawdown Comparison
The maximum BCCL.NEO drawdown since its inception was -52.47%, which is greater than HMAX.TO's maximum drawdown of -15.34%. Use the drawdown chart below to compare losses from any high point for BCCL.NEO and HMAX.TO.
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Drawdown Indicators
| BCCL.NEO | HMAX.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.47% | -15.34% | -37.13% |
Max Drawdown (1Y)Largest decline over 1 year | -52.47% | -7.29% | -45.18% |
Max Drawdown (3Y)Largest decline over 3 years | — | -12.48% | — |
Current DrawdownCurrent decline from peak | -50.69% | -0.91% | -49.78% |
Average DrawdownAverage peak-to-trough decline | -22.15% | -2.94% | -19.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.80% | 1.66% | +28.14% |
Volatility
BCCL.NEO vs. HMAX.TO - Volatility Comparison
Global X Enhanced Bitcoin Covered Call ETF (BCCL.NEO) has a higher volatility of 12.21% compared to Hamilton Canadian Financials YIELD MAXIMIZER ETF (HMAX.TO) at 3.28%. This indicates that BCCL.NEO's price experiences larger fluctuations and is considered to be riskier than HMAX.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 | HMAX.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.21% | 3.28% | +8.93% |
Volatility (6M)Calculated over the trailing 6-month period | 32.89% | 8.55% | +24.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.98% | 9.95% | +34.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.65% | 11.42% | +32.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.65% | 11.42% | +32.23% |
Dividends
BCCL.NEO vs. HMAX.TO - Dividend Comparison
BCCL.NEO's dividend yield for the trailing twelve months is around 40.66%, more than HMAX.TO's 11.59% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BCCL.NEO Global X Enhanced Bitcoin Covered Call ETF | 40.66% | 16.02% | 0.00% | 0.00% |
HMAX.TO Hamilton Canadian Financials YIELD MAXIMIZER ETF | 11.59% | 12.29% | 14.08% | 15.47% |
Frequently Asked Questions
BCCL.NEO and HMAX.TO have a correlation of 0.29, 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 Hamilton Capital.
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