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CIF.TO vs. ENCC.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CIF.TO vs. ENCC.TO

Last updated Jun 4, 2026

CIF.TO (iShares Global Infrastructure Index ETF) and ENCC.TO (Global X Canadian Oil and Gas Equity Covered Call ETF) are both exchange-traded funds - CIF.TO is a Energy Equities fund tracking the Manulife Investment Management Global Infrastructure Index, while ENCC.TO is a Derivative Income fund actively managed by Global X. CIF.TO is passively managed, while ENCC.TO is actively managed. Over the past 10 years, CIF.TO returned 12.99%/yr vs 8.49%/yr for ENCC.TO. At a 0.41 correlation, their price movements are largely independent. CIF.TO charges 0.72%/yr vs 0.76%/yr for ENCC.TO.

Performance

CIF.TO vs. ENCC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Global Infrastructure Index ETF (CIF.TO) and Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, CIF.TO achieves a 25.20% return, which is significantly lower than ENCC.TO's 29.01% return. Over the past 10 years, CIF.TO has outperformed ENCC.TO with an annualized return of 12.99%, while ENCC.TO has yielded a comparatively lower 8.49% annualized return.

CIF.TO

1D
1.03%
1M
3.28%
YTD
25.20%
6M
16.23%
1Y
35.22%
3Y*
25.10%
5Y*
18.52%
10Y*
12.99%

ENCC.TO

1D
0.93%
1M
2.37%
YTD
29.01%
6M
25.71%
1Y
41.57%
3Y*
22.89%
5Y*
25.31%
10Y*
8.49%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CIF.TO vs. ENCC.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CIF.TO
iShares Global Infrastructure Index ETF		25.20%14.45%25.40%14.65%5.90%17.73%-0.62%23.55%-5.46%2.34%
ENCC.TO
Global X Canadian Oil and Gas Equity Covered Call ETF		29.01%13.13%17.39%5.72%41.33%80.55%-27.98%6.54%-31.00%-18.47%

Correlation

The correlation between CIF.TO and ENCC.TO is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.17

Correlation (3Y)
Calculated over the trailing 3-year period

0.38

Correlation (5Y)
Calculated over the trailing 5-year period

0.43

Correlation (10Y)
Calculated over the trailing 10-year period

0.40

Correlation (All Time)
Calculated using the full available price history since Apr 18, 2011

0.41

Over the past year, the correlation between CIF.TO and ENCC.TO has dropped to 0.17 - well below their long-term average of 0.41, suggesting their price drivers have been diverging.

CIF.TO vs. ENCC.TO - Sectors Allocation Comparison

Sectors
CIF.TO
ENCC.TO

Utilities

46.9%

-

Industrials

31.8%

-

Energy

20.8%
100.0%

Technology

0.5%

-

Consumer Cyclical

0.5%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Defensive

-

-

Financial Services

-

-

Healthcare

-

-

Real Estate

-

-

Utilities

CIF.TO
46.9%
ENCC.TO

-

Industrials

CIF.TO
31.8%
ENCC.TO

-

Energy

CIF.TO
20.8%
ENCC.TO
100.0%

Technology

CIF.TO
0.5%
ENCC.TO

-

Consumer Cyclical

CIF.TO
0.5%
ENCC.TO

-

Basic Materials

CIF.TO

-

ENCC.TO

-

Communication Services

CIF.TO

-

ENCC.TO

-

Consumer Defensive

CIF.TO

-

ENCC.TO

-

Financial Services

CIF.TO

-

ENCC.TO

-

Healthcare

CIF.TO

-

ENCC.TO

-

Real Estate

CIF.TO

-

ENCC.TO

-

Compare stocks, funds, or ETFs

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iShares Global Infrastructure Index ETF

Global X Canadian Oil and Gas Equity Covered Call ETF

Often compared with CIF.TO:
CIF.TO vs. VFV.TOCIF.TO vs. MLPP.LCIF.TO vs. ZQQ.TOCIF.TO vs. CWW.TOCIF.TO vs. VGTCIF.TO vs. XDIV.TOCIF.TO vs. ZGI.TO
Often compared with ENCC.TO:
ENCC.TO vs. ENCL.TOENCC.TO vs. EMAX.TOENCC.TO vs. ZEOENCC.TO vs. HMAX.TOENCC.TO vs. XEQT.TOENCC.TO vs. XDIV.TOENCC.TO vs. OILY.TO

Return for Risk

CIF.TO vs. ENCC.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CIF.TO
CIF.TO Risk / Return Rank: 7070
Overall Rank
CIF.TO Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
CIF.TO Sortino Ratio Rank: 6767
Sortino Ratio Rank
CIF.TO Omega Ratio Rank: 7171
Omega Ratio Rank
CIF.TO Calmar Ratio Rank: 7373
Calmar Ratio Rank
CIF.TO Martin Ratio Rank: 7171
Martin Ratio Rank
ENCC.TO
ENCC.TO Risk / Return Rank: 8585
Overall Rank
ENCC.TO Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
ENCC.TO Sortino Ratio Rank: 8484
Sortino Ratio Rank
ENCC.TO Omega Ratio Rank: 8585
Omega Ratio Rank
ENCC.TO Calmar Ratio Rank: 8686
Calmar Ratio Rank
ENCC.TO Martin Ratio Rank: 8484
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CIF.TO vs. ENCC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Infrastructure Index ETF (CIF.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.

CIF.TOENCC.TODifference
Sharpe ratioReturn per unit of total volatility
2.33
2.98

-0.65

Sortino ratioReturn per unit of downside risk
3.13
3.81

-0.69

Omega ratioGain probability vs. loss probability

1.43

1.53

-0.10

Calmar ratioReturn relative to maximum drawdown

3.72

4.93

-1.20

Martin ratioReturn relative to average drawdown

13.46

17.54

-4.08

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CIF.TO vs. ENCC.TO - Sharpe Ratio Comparison

The current CIF.TO Sharpe Ratio is 2.33, which is comparable to the ENCC.TO Sharpe Ratio of 2.98. The chart below compares the historical Sharpe Ratios of CIF.TO and ENCC.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

CIF.TOENCC.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.33

2.98

-0.65

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.28

1.11

+0.17

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.78

0.29

+0.49

Sharpe Ratio (All Time)

Calculated using the full available price history

0.54

0.00

+0.54

Drawdowns

CIF.TO vs. ENCC.TO - Drawdown Comparison

The maximum CIF.TO drawdown since its inception was -42.37%, smaller than the maximum ENCC.TO drawdown of -89.91%. Use the drawdown chart below to compare losses from any high point for CIF.TO and ENCC.TO.

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Drawdown Indicators

CIF.TOENCC.TODifference

Max Drawdown

Largest peak-to-trough decline

-42.37%

-89.91%

+47.54%

Max Drawdown (1Y)

Largest decline over 1 year

-9.50%

-8.48%

-1.02%

Max Drawdown (3Y)

Largest decline over 3 years

-20.40%

-16.67%

-3.73%

Max Drawdown (5Y)

Largest decline over 5 years

-20.40%

-25.57%

+5.17%

Max Drawdown (10Y)

Largest decline over 10 years

-42.37%

-82.16%

+39.79%

Current Drawdown

Current decline from peak

-0.76%

-1.99%

+1.23%

Average Drawdown

Average peak-to-trough decline

-5.66%

-39.82%

+34.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.63%

2.38%

+0.25%

Volatility

CIF.TO vs. ENCC.TO - Volatility Comparison

iShares Global Infrastructure Index ETF (CIF.TO) and Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.TO) have volatilities of 5.85% and 5.66%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CIF.TOENCC.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.85%

5.66%

+0.19%

Volatility (6M)

Calculated over the trailing 6-month period

12.44%

12.36%

+0.08%

Volatility (1Y)

Calculated over the trailing 1-year period

15.23%

14.08%

+1.15%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.56%

23.03%

-8.47%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.69%

29.05%

-12.36%

CIF.TO vs. ENCC.TO - Expense Ratio Comparison

CIF.TO has a 0.72% expense ratio, which is lower than ENCC.TO's 0.76% expense ratio.

Dividends

CIF.TO vs. ENCC.TO - Dividend Comparison

CIF.TO's dividend yield for the trailing twelve months is around 1.77%, less than ENCC.TO's 11.09% yield.

PositionTTM20252024202320222021202020192018201720162015
CIF.TO
iShares Global Infrastructure Index ETF		1.77%2.05%2.84%2.36%2.53%2.24%2.06%1.83%2.45%2.27%1.81%2.41%
ENCC.TO
Global X Canadian Oil and Gas Equity Covered Call ETF		11.09%13.62%14.58%14.87%12.55%4.23%5.10%6.09%8.35%6.92%4.77%15.15%

Frequently Asked Questions

CIF.TO and ENCC.TO have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, CIF.TO is cheaper at 0.72% per year. The better choice depends on whether you care most about return, fees, risk, or income.

CIF.TO is cheaper with a 0.72% expense ratio, compared with 0.76% for ENCC.TO.

CIF.TO is categorized as Energy Equities, while ENCC.TO is Derivative Income. They also come from different issuers: iShares and Global X. Their fees differ too: 0.72% for CIF.TO and 0.76% for ENCC.TO.

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