DXQ.TO vs. EMCL.NEO
DXQ.TO (Dynamic Active Enhanced Yield Covered Options ETF) and EMCL.NEO (Global X Enhanced MSCI Emerging Markets Covered Call ETF) are both Derivative Income funds. Both are actively managed. Over the past year, DXQ.TO returned 17.05% vs 47.60% for EMCL.NEO. At a 0.44 correlation, their price movements are largely independent.
Performance
DXQ.TO vs. EMCL.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, DXQ.TO achieves a 7.63% return, which is significantly lower than EMCL.NEO's 26.93% return.
DXQ.TO
- 1D
- -0.25%
- 1M
- 0.61%
- YTD
- 7.63%
- 6M
- 7.76%
- 1Y
- 17.05%
- 3Y*
- 17.51%
- 5Y*
- —
- 10Y*
- —
EMCL.NEO
- 1D
- 0.27%
- 1M
- 3.04%
- YTD
- 26.93%
- 6M
- 28.29%
- 1Y
- 47.60%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DXQ.TO vs. EMCL.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
DXQ.TO Dynamic Active Enhanced Yield Covered Options ETF | 7.63% | 12.99% | 11.00% |
EMCL.NEO Global X Enhanced MSCI Emerging Markets Covered Call ETF | 26.93% | 20.46% | 3.66% |
Correlation
The correlation between DXQ.TO and EMCL.NEO is 0.53, 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 | 0.53 |
Correlation (All Time) Calculated using the full available price history since May 29, 2024 | 0.44 |
The correlation between DXQ.TO and EMCL.NEO has been stable across timeframes, ranging from 0.44 to 0.53 - a consistent structural relationship.
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Return for Risk
DXQ.TO vs. EMCL.NEO — Risk / Return Rank
DXQ.TO
EMCL.NEO
DXQ.TO vs. EMCL.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dynamic Active Enhanced Yield Covered Options ETF (DXQ.TO) and Global X Enhanced MSCI Emerging Markets Covered Call ETF (EMCL.NEO). 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.
| DXQ.TO | EMCL.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.45 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.35 | 3.74 | -0.39 |
| Martin ratioReturn relative to average drawdown | 9.30 | 13.41 | -4.11 |
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Drawdowns
DXQ.TO vs. EMCL.NEO - Drawdown Comparison
The maximum DXQ.TO drawdown since its inception was -15.54%, smaller than the maximum EMCL.NEO drawdown of -19.73%. Use the drawdown chart below to compare losses from any high point for DXQ.TO and EMCL.NEO.
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Drawdown Indicators
| DXQ.TO | EMCL.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.54% | -19.73% | +4.19% |
Max Drawdown (1Y)Largest decline over 1 year | -5.11% | -13.12% | +8.01% |
Max Drawdown (3Y)Largest decline over 3 years | -15.54% | — | — |
Current DrawdownCurrent decline from peak | -1.63% | -4.65% | +3.02% |
Average DrawdownAverage peak-to-trough decline | -1.26% | -2.57% | +1.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.84% | 3.61% | -1.77% |
Volatility
DXQ.TO vs. EMCL.NEO - Volatility Comparison
The current volatility for Dynamic Active Enhanced Yield Covered Options ETF (DXQ.TO) is 3.10%, while Global X Enhanced MSCI Emerging Markets Covered Call ETF (EMCL.NEO) has a volatility of 12.60%. This indicates that DXQ.TO experiences smaller price fluctuations and is considered to be less risky than EMCL.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DXQ.TO | EMCL.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.10% | 12.60% | -9.50% |
Volatility (6M)Calculated over the trailing 6-month period | 7.56% | 20.76% | -13.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.36% | 22.56% | -13.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.93% | 23.02% | -12.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.93% | 23.02% | -12.09% |
Dividends
DXQ.TO vs. EMCL.NEO - Dividend Comparison
DXQ.TO's dividend yield for the trailing twelve months is around 7.71%, less than EMCL.NEO's 10.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
DXQ.TO Dynamic Active Enhanced Yield Covered Options ETF | 7.71% | 7.45% | 5.74% | 6.54% | 1.83% |
EMCL.NEO Global X Enhanced MSCI Emerging Markets Covered Call ETF | 10.20% | 9.86% | 3.10% | 0.00% | 0.00% |
Frequently Asked Questions
DXQ.TO and EMCL.NEO have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Dynamic and Global X.
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