CASH.TO vs. ENCL.TO
CASH.TO (Global X High Interest Savings ETF) and ENCL.TO (Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD) are both exchange-traded funds - CASH.TO is a Money Market fund actively managed by Global X, while ENCL.TO is a Energy Equities fund actively managed by Global X. Both are actively managed. Over the past year, CASH.TO returned 2.23% vs 46.09% for ENCL.TO. At a 0.05 correlation, their price movements are largely independent. CASH.TO charges 0.11%/yr vs 1.86%/yr for ENCL.TO.
Performance
CASH.TO vs. ENCL.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CASH.TO achieves a 0.91% return, which is significantly lower than ENCL.TO's 35.36% return.
CASH.TO
- 1D
- 0.02%
- 1M
- 0.15%
- YTD
- 0.91%
- 6M
- 1.03%
- 1Y
- 2.23%
- 3Y*
- 3.60%
- 5Y*
- —
- 10Y*
- —
ENCL.TO
- 1D
- -0.30%
- 1M
- -1.63%
- YTD
- 35.36%
- 6M
- 33.47%
- 1Y
- 46.09%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CASH.TO vs. ENCL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CASH.TO Global X High Interest Savings ETF | 0.91% | 2.45% | 4.53% | 1.17% |
ENCL.TO Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD | 35.36% | 14.97% | 20.32% | -11.68% |
Correlation
The correlation between CASH.TO and ENCL.TO is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2023 | 0.05 |
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Return for Risk
CASH.TO vs. ENCL.TO — Risk / Return Rank
CASH.TO
ENCL.TO
CASH.TO vs. ENCL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X High Interest Savings ETF (CASH.TO) and Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD (ENCL.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.
| CASH.TO | ENCL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +6.89 | ||
| Sortino ratioReturn per unit of downside risk | +22.82 | ||
| Omega ratioGain probability vs. loss probability | 7.03 | 1.46 | +5.57 |
| Calmar ratioReturn relative to maximum drawdown | 113.10 | 4.49 | +108.62 |
| Martin ratioReturn relative to average drawdown | 389.01 | 15.78 | +373.23 |
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Drawdowns
CASH.TO vs. ENCL.TO - Drawdown Comparison
The maximum CASH.TO drawdown since its inception was -0.80%, smaller than the maximum ENCL.TO drawdown of -21.05%. Use the drawdown chart below to compare losses from any high point for CASH.TO and ENCL.TO.
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Drawdown Indicators
| CASH.TO | ENCL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.80% | -21.05% | +20.25% |
Max Drawdown (1Y)Largest decline over 1 year | -0.02% | -10.75% | +10.73% |
Max Drawdown (3Y)Largest decline over 3 years | -0.06% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -3.41% | +3.41% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -4.78% | +4.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 3.05% | -3.04% |
Volatility
CASH.TO vs. ENCL.TO - Volatility Comparison
The current volatility for Global X High Interest Savings ETF (CASH.TO) is 0.08%, while Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD (ENCL.TO) has a volatility of 7.14%. This indicates that CASH.TO experiences smaller price fluctuations and is considered to be less risky than ENCL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CASH.TO | ENCL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.08% | 7.14% | -7.06% |
Volatility (6M)Calculated over the trailing 6-month period | 0.16% | 16.02% | -15.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.24% | 18.05% | -17.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.61% | 20.88% | -20.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.61% | 20.88% | -20.27% |
CASH.TO vs. ENCL.TO - Expense Ratio Comparison
CASH.TO has a 0.11% expense ratio, which is lower than ENCL.TO's 1.86% expense ratio.
Dividends
CASH.TO vs. ENCL.TO - Dividend Comparison
CASH.TO's dividend yield for the trailing twelve months is around 2.19%, less than ENCL.TO's 13.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
CASH.TO Global X High Interest Savings ETF | 2.19% | 2.53% | 4.37% | 5.05% | 2.30% | 0.10% |
ENCL.TO Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD | 13.48% | 17.14% | 18.56% | 4.68% | 0.00% | 0.00% |
Frequently Asked Questions
CASH.TO and ENCL.TO have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CASH.TO is cheaper at 0.11% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CASH.TO is cheaper with a 0.11% expense ratio, compared with 1.86% for ENCL.TO.
CASH.TO is categorized as Money Market, while ENCL.TO is Energy Equities. Their fees differ too: 0.11% for CASH.TO and 1.86% for ENCL.TO.
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