CBIL.TO vs. ENCL.TO
CBIL.TO (Global X 0-3 Month T-Bill ETF) and ENCL.TO (Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD) are both exchange-traded funds - CBIL.TO is a Canadian Government Bonds 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, CBIL.TO returned 2.34% vs 43.18% for ENCL.TO. At a correlation of -0.02, they often move in opposite directions. CBIL.TO charges 0.10%/yr vs 1.86%/yr for ENCL.TO.
Performance
CBIL.TO vs. ENCL.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CBIL.TO achieves a 0.97% return, which is significantly lower than ENCL.TO's 30.80% return.
CBIL.TO
- 1D
- 0.00%
- 1M
- 0.18%
- YTD
- 0.97%
- 6M
- 1.08%
- 1Y
- 2.34%
- 3Y*
- 3.58%
- 5Y*
- —
- 10Y*
- —
ENCL.TO
- 1D
- 1.40%
- 1M
- -5.96%
- YTD
- 30.80%
- 6M
- 32.16%
- 1Y
- 43.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CBIL.TO vs. ENCL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CBIL.TO Global X 0-3 Month T-Bill ETF | 0.97% | 2.68% | 4.47% | 1.19% |
ENCL.TO Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD | 30.80% | 14.97% | 20.32% | -11.68% |
Correlation
The correlation between CBIL.TO and ENCL.TO is -0.06, 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 | -0.06 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2023 | -0.02 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CBIL.TO vs. ENCL.TO — Risk / Return Rank
CBIL.TO
ENCL.TO
CBIL.TO vs. ENCL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X 0-3 Month T-Bill ETF (CBIL.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.
| CBIL.TO | ENCL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +6.89 | ||
| Sortino ratioReturn per unit of downside risk | +18.86 | ||
| Omega ratioGain probability vs. loss probability | 5.74 | 1.41 | +4.33 |
| Calmar ratioReturn relative to maximum drawdown | 58.67 | 4.03 | +54.63 |
| Martin ratioReturn relative to average drawdown | 328.45 | 13.52 | +314.93 |
Loading charts...
Drawdowns
CBIL.TO vs. ENCL.TO - Drawdown Comparison
The maximum CBIL.TO drawdown since its inception was -0.06%, smaller than the maximum ENCL.TO drawdown of -21.05%. Use the drawdown chart below to compare losses from any high point for CBIL.TO and ENCL.TO.
Loading charts...
Drawdown Indicators
| CBIL.TO | ENCL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.06% | -21.05% | +20.99% |
Max Drawdown (1Y)Largest decline over 1 year | -0.04% | -10.75% | +10.71% |
Max Drawdown (3Y)Largest decline over 3 years | -0.06% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -6.66% | +6.66% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -4.81% | +4.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 3.21% | -3.20% |
Volatility
CBIL.TO vs. ENCL.TO - Volatility Comparison
The current volatility for Global X 0-3 Month T-Bill ETF (CBIL.TO) is 0.06%, while Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD (ENCL.TO) has a volatility of 6.80%. This indicates that CBIL.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.
Loading charts...
Volatility by Period
| CBIL.TO | ENCL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.06% | 6.80% | -6.74% |
Volatility (6M)Calculated over the trailing 6-month period | 0.19% | 15.64% | -15.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.25% | 18.36% | -18.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.32% | 20.89% | -20.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.32% | 20.89% | -20.57% |
CBIL.TO vs. ENCL.TO - Expense Ratio Comparison
CBIL.TO has a 0.10% expense ratio, which is lower than ENCL.TO's 1.86% expense ratio.
Dividends
CBIL.TO vs. ENCL.TO - Dividend Comparison
CBIL.TO's dividend yield for the trailing twelve months is around 2.29%, less than ENCL.TO's 13.94% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CBIL.TO Global X 0-3 Month T-Bill ETF | 2.29% | 2.58% | 4.38% | 3.39% |
ENCL.TO Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD | 13.94% | 17.14% | 18.56% | 4.68% |
Frequently Asked Questions
CBIL.TO and ENCL.TO have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CBIL.TO is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CBIL.TO is cheaper with a 0.10% expense ratio, compared with 1.86% for ENCL.TO.
CBIL.TO is categorized as Canadian Government Bonds, while ENCL.TO is Energy Equities. Their fees differ too: 0.10% for CBIL.TO and 1.86% for ENCL.TO.
Find the right allocation for CBIL.TO and ENCL.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer