BCCL.NEO vs. MSTE.TO
BCCL.NEO (Global X Enhanced Bitcoin Covered Call ETF) and MSTE.TO (Harvest MicroStrategy Enhanced High Income Shares ETF) are both Derivative Income funds. Both are actively managed. Over the past year, BCCL.NEO returned -40.36% vs -71.76% for MSTE.TO. A 0.76 correlation means they provide meaningful diversification when combined.
Performance
BCCL.NEO vs. MSTE.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 MSTE.TO's -20.32% return.
BCCL.NEO
- 1D
- -3.22%
- 1M
- -17.13%
- YTD
- -27.54%
- 6M
- -33.09%
- 1Y
- -40.36%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSTE.TO
- 1D
- -8.67%
- 1M
- -33.14%
- YTD
- -20.32%
- 6M
- -37.71%
- 1Y
- -71.76%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BCCL.NEO vs. MSTE.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BCCL.NEO Global X Enhanced Bitcoin Covered Call ETF | -27.54% | -6.58% |
MSTE.TO Harvest MicroStrategy Enhanced High Income Shares ETF | -20.32% | -63.77% |
Correlation
The correlation between BCCL.NEO and MSTE.TO is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since May 1, 2025 | 0.76 |
The correlation between BCCL.NEO and MSTE.TO has been stable across timeframes, ranging from 0.76 to 0.78 - a consistent structural relationship.
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Return for Risk
BCCL.NEO vs. MSTE.TO — Risk / Return Rank
BCCL.NEO
MSTE.TO
BCCL.NEO vs. MSTE.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 Harvest MicroStrategy Enhanced High Income Shares ETF (MSTE.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 | MSTE.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.47 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 0.81 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | -0.89 | +0.12 |
| Martin ratioReturn relative to average drawdown | -1.36 | -1.33 | -0.02 |
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 | MSTE.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.92 | -0.93 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.69 | -0.67 | -0.02 |
Drawdowns
BCCL.NEO vs. MSTE.TO - Drawdown Comparison
The maximum BCCL.NEO drawdown since its inception was -52.47%, smaller than the maximum MSTE.TO drawdown of -80.35%. Use the drawdown chart below to compare losses from any high point for BCCL.NEO and MSTE.TO.
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Drawdown Indicators
| BCCL.NEO | MSTE.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.47% | -80.35% | +27.88% |
Max Drawdown (1Y)Largest decline over 1 year | -52.47% | -80.35% | +27.88% |
Current DrawdownCurrent decline from peak | -50.69% | -76.21% | +25.52% |
Average DrawdownAverage peak-to-trough decline | -22.15% | -39.63% | +17.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.80% | 53.78% | -23.98% |
Volatility
BCCL.NEO vs. MSTE.TO - Volatility Comparison
The current volatility for Global X Enhanced Bitcoin Covered Call ETF (BCCL.NEO) is 12.21%, while Harvest MicroStrategy Enhanced High Income Shares ETF (MSTE.TO) has a volatility of 23.39%. This indicates that BCCL.NEO experiences smaller price fluctuations and is considered to be less risky than MSTE.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 | MSTE.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.21% | 23.39% | -11.18% |
Volatility (6M)Calculated over the trailing 6-month period | 32.89% | 63.14% | -30.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.98% | 77.31% | -33.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.65% | 84.31% | -40.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.65% | 84.31% | -40.66% |
Dividends
BCCL.NEO vs. MSTE.TO - Dividend Comparison
BCCL.NEO's dividend yield for the trailing twelve months is around 40.66%, less than MSTE.TO's 149.64% yield.
| Position | TTM | 2025 |
|---|---|---|
BCCL.NEO Global X Enhanced Bitcoin Covered Call ETF | 40.66% | 16.02% |
MSTE.TO Harvest MicroStrategy Enhanced High Income Shares ETF | 149.64% | 121.40% |
Frequently Asked Questions
BCCL.NEO and MSTE.TO have a correlation of 0.78, 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 Harvest.
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