EACC.NEO vs. BANK.TO

Last updated Jun 4, 2026

EACC.NEO (Global X MSCI EAFE Covered Call ETF) and BANK.TO (Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund) are both Derivative Income funds - EACC.NEO tracks the MSCI EAFE Index while BANK.TO tracks the Solactive Canadian Core Financials Equal Weight Index. Both are passively managed. Over the past year, EACC.NEO returned 19.76% vs 55.24% for BANK.TO. A 0.51 correlation means they provide meaningful diversification when combined. EACC.NEO charges 0.49%/yr vs 0.60%/yr for BANK.TO.

Performance

EACC.NEO vs. BANK.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X MSCI EAFE Covered Call ETF (EACC.NEO) and Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EACC.NEO achieves a 7.82% return, which is significantly lower than BANK.TO's 17.36% return.

EACC.NEO

• 1D: -0.48%
• 1M: 6.14%
• YTD: 7.82%
• 6M: 8.11%
• 1Y: 19.76%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BANK.TO

• 1D: -0.47%
• 1M: 6.16%
• YTD: 17.36%
• 6M: 23.52%
• 1Y: 55.24%
• 3Y*: 31.96%
• 5Y*: —
• 10Y*: —

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

EACC.NEO vs. BANK.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EACC.NEO Global X MSCI EAFE Covered Call ETF	7.82%	18.86%	0.72%
BANK.TO Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund	17.36%	41.00%	20.47%

Correlation

The correlation between EACC.NEO and BANK.TO is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (All Time) Calculated using the full available price history since May 22, 2024	0.51

The correlation between EACC.NEO and BANK.TO has been stable across timeframes, ranging from 0.48 to 0.51 - a consistent structural relationship.

Return for Risk

EACC.NEO vs. BANK.TO — Risk / Return Rank

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

EACC.NEO

EACC.NEO Risk / Return Rank: 38
EACC.NEO Sharpe Ratio Rank: 38
EACC.NEO Sortino Ratio Rank: 35
EACC.NEO Omega Ratio Rank: 42
EACC.NEO Calmar Ratio Rank: 36
EACC.NEO Martin Ratio Rank: 39

BANK.TO

BANK.TO Risk / Return Rank: 96
BANK.TO Sharpe Ratio Rank: 97
BANK.TO Sortino Ratio Rank: 97
BANK.TO Omega Ratio Rank: 96
BANK.TO Calmar Ratio Rank: 93
BANK.TO Martin Ratio Rank: 95

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.

EACC.NEO vs. BANK.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MSCI EAFE Covered Call ETF (EACC.NEO) and Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.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.

	EACC.NEO	BANK.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.33	4.59	-3.27
Sortino ratio: Return per unit of downside risk	1.80	6.28	-4.48
Omega ratio: Gain probability vs. loss probability	1.27	1.85	-0.58
Calmar ratio: Return relative to maximum drawdown	1.76	6.75	-4.99
Martin ratio: Return relative to average drawdown	6.04	29.78	-23.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EACC.NEO vs. BANK.TO - Sharpe Ratio Comparison

The current EACC.NEO Sharpe Ratio is 1.33, which is lower than the BANK.TO Sharpe Ratio of 4.59. The chart below compares the historical Sharpe Ratios of EACC.NEO and BANK.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.

Sharpe Ratios by Period

	EACC.NEO	BANK.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.33	4.59	-3.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.89	1.08	-0.18

Drawdowns

EACC.NEO vs. BANK.TO - Drawdown Comparison

The maximum EACC.NEO drawdown since its inception was -13.35%, smaller than the maximum BANK.TO drawdown of -29.03%. Use the drawdown chart below to compare losses from any high point for EACC.NEO and BANK.TO.

Drawdown Indicators

	EACC.NEO	BANK.TO	Difference
Max Drawdown Largest peak-to-trough decline	-13.35%	-29.03%	+15.68%
Max Drawdown (1Y) Largest decline over 1 year	-11.30%	-8.23%	-3.07%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.49%	—
Current Drawdown Current decline from peak	-0.48%	-1.16%	+0.68%
Average Drawdown Average peak-to-trough decline	-2.09%	-8.81%	+6.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.28%	1.86%	+1.42%

Volatility

EACC.NEO vs. BANK.TO - Volatility Comparison

Global X MSCI EAFE Covered Call ETF (EACC.NEO) and Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.TO) have volatilities of 4.43% and 4.28%, 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.

Volatility by Period

	EACC.NEO	BANK.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.43%	4.28%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	12.76%	10.45%	+2.31%
Volatility (1Y) Calculated over the trailing 1-year period	14.96%	12.09%	+2.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.05%	15.65%	-0.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.05%	15.65%	-0.60%

EACC.NEO vs. BANK.TO - Expense Ratio Comparison

EACC.NEO has a 0.49% expense ratio, which is lower than BANK.TO's 0.60% expense ratio.

Dividends

EACC.NEO vs. BANK.TO - Dividend Comparison

EACC.NEO's dividend yield for the trailing twelve months is around 7.46%, less than BANK.TO's 13.02% yield.

Position	TTM	2025	2024	2023	2022
BANK.TO Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund	13.02%	13.73%	15.28%	13.60%	10.52%
EACC.NEO Global X MSCI EAFE Covered Call ETF	7.46%	7.55%	5.12%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EACC.NEO and BANK.TO in my portfolio?

EACC.NEO and BANK.TO have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EACC.NEO or BANK.TO?

On fees, EACC.NEO is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EACC.NEO or BANK.TO?

EACC.NEO is cheaper with a 0.49% expense ratio, compared with 0.60% for BANK.TO.

What is the main difference between EACC.NEO and BANK.TO?

EACC.NEO tracks MSCI EAFE Index, while BANK.TO tracks Solactive Canadian Core Financials Equal Weight Index. They also come from different issuers: Global X and Evolve. Their fees differ too: 0.49% for EACC.NEO and 0.60% for BANK.TO.