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CNCC.TO vs. VDY.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CNCC.TO vs. VDY.TO

Last updated Jun 5, 2026

CNCC.TO (Global X Canadian S&P/TSX 60 Covered Call ETF) and VDY.TO (Vanguard FTSE Canadian High Dividend Yield Index ETF) are both exchange-traded funds - CNCC.TO is a Options Trading fund tracking the S&P/TSX 60, while VDY.TO is a Dividend fund tracking the FTSE Canada High Dividend Yield Index. Both are passively managed. Over the past 10 years, CNCC.TO returned 8.55%/yr vs 14.08%/yr for VDY.TO. A 0.67 correlation means they provide meaningful diversification when combined.

Performance

CNCC.TO vs. VDY.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Canadian S&P/TSX 60 Covered Call ETF (CNCC.TO) and Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.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, CNCC.TO achieves a 8.83% return, which is significantly lower than VDY.TO's 22.00% return. Over the past 10 years, CNCC.TO has underperformed VDY.TO with an annualized return of 8.55%, while VDY.TO has yielded a comparatively higher 14.08% annualized return.

CNCC.TO

1D
0.84%
1M
4.57%
YTD
8.83%
6M
9.65%
1Y
24.66%
3Y*
16.11%
5Y*
10.50%
10Y*
8.55%

VDY.TO

1D
1.17%
1M
5.04%
YTD
22.00%
6M
22.35%
1Y
48.66%
3Y*
26.84%
5Y*
17.48%
10Y*
14.08%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CNCC.TO vs. VDY.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CNCC.TO
Global X Canadian S&P/TSX 60 Covered Call ETF		8.83%19.53%14.81%7.07%-4.03%30.41%-5.31%9.89%-6.18%6.57%
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index ETF		22.00%29.20%20.71%8.40%-0.23%36.78%-1.37%21.43%-10.09%8.75%

Correlation

The correlation between CNCC.TO and VDY.TO is 0.70, 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

0.70

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

0.79

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

0.72

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

0.65

Correlation (All Time)
Calculated using the full available price history since Nov 9, 2012

0.67

The correlation between CNCC.TO and VDY.TO shifts across timeframes, from 0.65 (10 years) to 0.79 (3 years), reflecting how their relationship changes across market environments.

CNCC.TO vs. VDY.TO - Sectors Allocation Comparison

Sectors
CNCC.TO
VDY.TO

Financial Services

37.2%
56.0%

Energy

19.1%
30.8%

Basic Materials

14.6%
2.2%

Technology

8.7%
0.4%

Industrials

7.8%
0.2%

Consumer Cyclical

4.1%
3.0%

Consumer Defensive

3.4%
0.4%

Utilities

2.8%
4.1%

Communication Services

2.2%
2.8%

Real Estate

0.2%

-

Healthcare

-

0.1%

Financial Services

CNCC.TO
37.2%
VDY.TO
56.0%

Energy

CNCC.TO
19.1%
VDY.TO
30.8%

Basic Materials

CNCC.TO
14.6%
VDY.TO
2.2%

Technology

CNCC.TO
8.7%
VDY.TO
0.4%

Industrials

CNCC.TO
7.8%
VDY.TO
0.2%

Consumer Cyclical

CNCC.TO
4.1%
VDY.TO
3.0%

Consumer Defensive

CNCC.TO
3.4%
VDY.TO
0.4%

Utilities

CNCC.TO
2.8%
VDY.TO
4.1%

Communication Services

CNCC.TO
2.2%
VDY.TO
2.8%

Real Estate

CNCC.TO
0.2%
VDY.TO

-

Healthcare

CNCC.TO

-

VDY.TO
0.1%

Compare stocks, funds, or ETFs

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Global X Canadian S&P/TSX 60 Covered Call ETF

Vanguard FTSE Canadian High Dividend Yield Index ETF

Often compared with CNCC.TO:
CNCC.TO vs. XEG.TOCNCC.TO vs. TTP.TOCNCC.TO vs. HBNK.TOCNCC.TO vs. CDAY.NEOCNCC.TO vs. QQCC.TOCNCC.TO vs. QQCL.TOCNCC.TO vs. CASH.TO
Often compared with VDY.TO:
VDY.TO vs. XEI.TOVDY.TO vs. XDIV.TOVDY.TO vs. VCN.TOVDY.TO vs. SCHDVDY.TO vs. XIC.TOVDY.TO vs. VCE.TOVDY.TO vs. ZDV.TO

Return for Risk

CNCC.TO vs. VDY.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CNCC.TO
CNCC.TO Risk / Return Rank: 8585
Overall Rank
CNCC.TO Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
CNCC.TO Sortino Ratio Rank: 8484
Sortino Ratio Rank
CNCC.TO Omega Ratio Rank: 8787
Omega Ratio Rank
CNCC.TO Calmar Ratio Rank: 7979
Calmar Ratio Rank
CNCC.TO Martin Ratio Rank: 8989
Martin Ratio Rank
VDY.TO
VDY.TO Risk / Return Rank: 9898
Overall Rank
VDY.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
VDY.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
VDY.TO Omega Ratio Rank: 9898
Omega Ratio Rank
VDY.TO Calmar Ratio Rank: 9898
Calmar Ratio Rank
VDY.TO Martin Ratio Rank: 9898
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.

CNCC.TO vs. VDY.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Canadian S&P/TSX 60 Covered Call ETF (CNCC.TO) and Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.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.

CNCC.TOVDY.TODifference
Sharpe ratioReturn per unit of total volatility
2.70
5.93

-3.23

Sortino ratioReturn per unit of downside risk
3.69
8.55

-4.86

Omega ratioGain probability vs. loss probability

1.54

2.21

-0.67

Calmar ratioReturn relative to maximum drawdown

4.01

15.68

-11.68

Martin ratioReturn relative to average drawdown

20.02

64.02

-44.00

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

CNCC.TO vs. VDY.TO - Sharpe Ratio Comparison

The current CNCC.TO Sharpe Ratio is 2.70, which is lower than the VDY.TO Sharpe Ratio of 5.93. The chart below compares the historical Sharpe Ratios of CNCC.TO and VDY.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

CNCC.TOVDY.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.70

5.93

-3.23

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.85

1.52

-0.67

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.58

0.89

-0.31

Sharpe Ratio (All Time)

Calculated using the full available price history

0.00

0.85

-0.85

Drawdowns

CNCC.TO vs. VDY.TO - Drawdown Comparison

The maximum CNCC.TO drawdown since its inception was -38.22%, roughly equal to the maximum VDY.TO drawdown of -39.21%. Use the drawdown chart below to compare losses from any high point for CNCC.TO and VDY.TO.

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Drawdown Indicators

CNCC.TOVDY.TODifference

Max Drawdown

Largest peak-to-trough decline

-38.22%

-39.21%

+0.99%

Max Drawdown (1Y)

Largest decline over 1 year

-6.18%

-3.12%

-3.06%

Max Drawdown (3Y)

Largest decline over 3 years

-11.11%

-10.87%

-0.24%

Max Drawdown (5Y)

Largest decline over 5 years

-16.01%

-16.18%

+0.17%

Max Drawdown (10Y)

Largest decline over 10 years

-38.22%

-39.21%

+0.99%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-6.17%

-4.61%

-1.56%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.23%

0.76%

+0.47%

Volatility

CNCC.TO vs. VDY.TO - Volatility Comparison

The current volatility for Global X Canadian S&P/TSX 60 Covered Call ETF (CNCC.TO) is 2.58%, while Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO) has a volatility of 3.42%. This indicates that CNCC.TO experiences smaller price fluctuations and is considered to be less risky than VDY.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CNCC.TOVDY.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.58%

3.42%

-0.84%

Volatility (6M)

Calculated over the trailing 6-month period

7.71%

6.95%

+0.76%

Volatility (1Y)

Calculated over the trailing 1-year period

9.17%

8.27%

+0.90%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.45%

11.57%

+0.88%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.79%

15.96%

-1.17%

Dividends

CNCC.TO vs. VDY.TO - Dividend Comparison

CNCC.TO's dividend yield for the trailing twelve months is around 6.95%, more than VDY.TO's 2.87% yield.

PositionTTM20252024202320222021202020192018201720162015
CNCC.TO
Global X Canadian S&P/TSX 60 Covered Call ETF		6.95%7.59%9.68%10.07%9.93%5.28%5.53%5.33%6.06%5.52%5.24%8.54%
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index ETF		2.87%3.59%4.40%4.64%4.42%3.58%4.59%4.25%4.43%3.82%3.25%4.11%

Frequently Asked Questions

CNCC.TO and VDY.TO have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

CNCC.TO is categorized as Options Trading, while VDY.TO is Dividend. CNCC.TO tracks S&P/TSX 60, while VDY.TO tracks FTSE Canada High Dividend Yield Index. They also come from different issuers: Global X and Vanguard.

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