CNCL.TO vs. CAUS.TO

Last updated Jun 4, 2026

CNCL.TO (Global X Enhanced S&P/TSX 60 Covered Call ETF) and CAUS.TO (Avantis CIBC U.S. All-Cap Equity ETF) are both Large Cap Blend Equities funds. CNCL.TO is passively managed, while CAUS.TO is actively managed. A 0.57 correlation means they provide meaningful diversification when combined. CNCL.TO charges 0.65%/yr vs 0.19%/yr for CAUS.TO.

Performance

CNCL.TO vs. CAUS.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Enhanced S&P/TSX 60 Covered Call ETF (CNCL.TO) and Avantis CIBC U.S. All-Cap Equity ETF (CAUS.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CNCL.TO

• 1D: -0.25%
• 1M: 3.65%
• YTD: 9.70%
• 6M: 11.65%
• 1Y: 29.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CAUS.TO

• 1D: -0.09%
• 1M: 6.47%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CNCL.TO vs. CAUS.TO - Yearly Performance Comparison

	2026 (YTD)
CNCL.TO Global X Enhanced S&P/TSX 60 Covered Call ETF	5.60%
CAUS.TO Avantis CIBC U.S. All-Cap Equity ETF	10.00%

Correlation

The correlation between CNCL.TO and CAUS.TO is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 23, 2026	0.57

Return for Risk

CNCL.TO vs. CAUS.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CNCL.TO

CNCL.TO Risk / Return Rank: 79
CNCL.TO Sharpe Ratio Rank: 77
CNCL.TO Sortino Ratio Rank: 76
CNCL.TO Omega Ratio Rank: 82
CNCL.TO Calmar Ratio Rank: 74
CNCL.TO Martin Ratio Rank: 86

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.

CNCL.TO vs. CAUS.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Enhanced S&P/TSX 60 Covered Call ETF (CNCL.TO) and Avantis CIBC U.S. All-Cap Equity ETF (CAUS.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.

	CNCL.TO	CAUS.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.48	—	—
Sortino ratio: Return per unit of downside risk	3.39	—	—
Omega ratio: Gain probability vs. loss probability	1.49	—	—
Calmar ratio: Return relative to maximum drawdown	3.66	—	—
Martin ratio: Return relative to average drawdown	17.95	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	CNCL.TO	CAUS.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.48	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.53	2.61	-1.07

Drawdowns

CNCL.TO vs. CAUS.TO - Drawdown Comparison

The maximum CNCL.TO drawdown since its inception was -13.75%, which is greater than CAUS.TO's maximum drawdown of -6.25%. Use the drawdown chart below to compare losses from any high point for CNCL.TO and CAUS.TO.

Drawdown Indicators

	CNCL.TO	CAUS.TO	Difference
Max Drawdown Largest peak-to-trough decline	-13.75%	-6.25%	-7.50%
Max Drawdown (1Y) Largest decline over 1 year	-7.97%	—	—
Current Drawdown Current decline from peak	-0.25%	-0.31%	+0.06%
Average Drawdown Average peak-to-trough decline	-1.53%	-1.68%	+0.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.62%	—	—

Volatility

Volatility by Period

	CNCL.TO	CAUS.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.92%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.97%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	11.77%	15.54%	-3.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.51%	15.54%	-3.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.51%	15.54%	-3.03%

CNCL.TO vs. CAUS.TO - Expense Ratio Comparison

CNCL.TO has a 0.65% expense ratio, which is higher than CAUS.TO's 0.19% expense ratio.

Dividends

CNCL.TO vs. CAUS.TO - Dividend Comparison

CNCL.TO's dividend yield for the trailing twelve months is around 8.49%, while CAUS.TO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
CAUS.TO Avantis CIBC U.S. All-Cap Equity ETF	0.00%	0.00%	0.00%	0.00%
CNCL.TO Global X Enhanced S&P/TSX 60 Covered Call ETF	8.49%	9.15%	11.88%	6.29%

Frequently Asked Questions

Can I hold both CNCL.TO and CAUS.TO in my portfolio?

CNCL.TO and CAUS.TO have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CNCL.TO or CAUS.TO?

On fees, CAUS.TO is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CNCL.TO or CAUS.TO?

CAUS.TO is cheaper with a 0.19% expense ratio, compared with 0.65% for CNCL.TO.

What is the main difference between CNCL.TO and CAUS.TO?

They also come from different issuers: Global X and Avantis. Their fees differ too: 0.65% for CNCL.TO and 0.19% for CAUS.TO.