BNKL.TO vs. ENCC.TO
BNKL.TO (Global X Enhanced Equal Weight Banks Index ETF) and ENCC.TO (Global X Canadian Oil and Gas Equity Covered Call ETF) are both exchange-traded funds - BNKL.TO is a Financials Equities fund tracking the Solactive Equal Weight Canada Banks Index, while ENCC.TO is a Derivative Income fund actively managed by Global X. BNKL.TO is passively managed, while ENCC.TO is actively managed. Over the past year, BNKL.TO returned 97.19% vs 34.49% for ENCC.TO. At a 0.05 correlation, their price movements are largely independent. BNKL.TO charges 1.33%/yr vs 0.76%/yr for ENCC.TO.
Performance
BNKL.TO vs. ENCC.TO - Performance Comparison
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Returns By Period
In the year-to-date period, BNKL.TO achieves a 37.19% return, which is significantly higher than ENCC.TO's 24.43% return.
BNKL.TO
- 1D
- 1.12%
- 1M
- 9.71%
- YTD
- 37.19%
- 6M
- 37.14%
- 1Y
- 97.19%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ENCC.TO
- 1D
- 0.64%
- 1M
- -4.83%
- YTD
- 24.43%
- 6M
- 25.49%
- 1Y
- 34.49%
- 3Y*
- 22.40%
- 5Y*
- 23.41%
- 10Y*
- 8.31%
BNKL.TO vs. ENCC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BNKL.TO Global X Enhanced Equal Weight Banks Index ETF | 37.19% | 55.98% | 29.92% | 7.40% |
ENCC.TO Global X Canadian Oil and Gas Equity Covered Call ETF | 24.43% | 13.13% | 17.39% | 5.78% |
Correlation
The correlation between BNKL.TO and ENCC.TO is -0.15, 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 | -0.15 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2023 | 0.05 |
The correlation between BNKL.TO and ENCC.TO shifts across timeframes, from -0.15 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BNKL.TO vs. ENCC.TO — Risk / Return Rank
BNKL.TO
ENCC.TO
BNKL.TO vs. ENCC.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Enhanced Equal Weight Banks Index ETF (BNKL.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BNKL.TO | ENCC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.96 | ||
| Sortino ratioReturn per unit of downside risk | +4.99 | ||
| Omega ratioGain probability vs. loss probability | 2.12 | 1.42 | +0.69 |
| Calmar ratioReturn relative to maximum drawdown | 9.11 | 4.09 | +5.02 |
| Martin ratioReturn relative to average drawdown | 39.64 | 13.56 | +26.08 |
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Drawdowns
BNKL.TO vs. ENCC.TO - Drawdown Comparison
The maximum BNKL.TO drawdown since its inception was -18.58%, smaller than the maximum ENCC.TO drawdown of -93.29%. Use the drawdown chart below to compare losses from any high point for BNKL.TO and ENCC.TO.
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Drawdown Indicators
| BNKL.TO | ENCC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.58% | -93.29% | +74.71% |
Max Drawdown (1Y)Largest decline over 1 year | -10.79% | -8.48% | -2.31% |
Max Drawdown (3Y)Largest decline over 3 years | — | -16.67% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.58% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -82.15% | — |
Current DrawdownCurrent decline from peak | 0.00% | -28.36% | +28.36% |
Average DrawdownAverage peak-to-trough decline | -3.01% | -55.98% | +52.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.47% | 2.56% | -0.09% |
Volatility
BNKL.TO vs. ENCC.TO - Volatility Comparison
The current volatility for Global X Enhanced Equal Weight Banks Index ETF (BNKL.TO) is 4.29%, while Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.TO) has a volatility of 5.30%. This indicates that BNKL.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
| BNKL.TO | ENCC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.29% | 5.30% | -1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 13.14% | 12.33% | +0.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.50% | 14.53% | +0.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.76% | 22.97% | -7.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.76% | 29.02% | -13.26% |
BNKL.TO vs. ENCC.TO - Expense Ratio Comparison
BNKL.TO has a 1.33% expense ratio, which is higher than ENCC.TO's 0.76% expense ratio.
Dividends
BNKL.TO vs. ENCC.TO - Dividend Comparison
BNKL.TO's dividend yield for the trailing twelve months is around 2.63%, less than ENCC.TO's 11.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BNKL.TO Global X Enhanced Equal Weight Banks Index ETF | 2.63% | 3.40% | 4.39% | 2.79% | 0.00% | 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 | 11.50% | 13.62% | 14.58% | 14.87% | 12.55% | 4.23% | 5.10% | 6.11% | 8.37% | 6.93% | 4.34% | 3.03% |
Frequently Asked Questions
BNKL.TO and ENCC.TO have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ENCC.TO is cheaper at 0.76% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ENCC.TO is cheaper with a 0.76% expense ratio, compared with 1.33% for BNKL.TO.
BNKL.TO is categorized as Financials Equities, while ENCC.TO is Derivative Income. Their fees differ too: 1.33% for BNKL.TO and 0.76% for ENCC.TO.
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