EACC.NEO vs. EMCL.NEO
EACC.NEO (Global X MSCI EAFE Covered Call ETF) and EMCL.NEO (Global X Enhanced MSCI Emerging Markets Covered Call ETF) are both Derivative Income funds from Global X. EACC.NEO is passively managed, while EMCL.NEO is actively managed. Over the past year, EACC.NEO returned 20.09% vs 53.90% for EMCL.NEO. At a 0.47 correlation, their price movements are largely independent.
Performance
EACC.NEO vs. EMCL.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, EACC.NEO achieves a 8.26% return, which is significantly lower than EMCL.NEO's 27.22% return.
EACC.NEO
- 1D
- 0.66%
- 1M
- 4.81%
- YTD
- 8.26%
- 6M
- 8.64%
- 1Y
- 20.09%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EMCL.NEO
- 1D
- -0.68%
- 1M
- 9.33%
- YTD
- 27.22%
- 6M
- 27.82%
- 1Y
- 53.90%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EACC.NEO vs. EMCL.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
EACC.NEO Global X MSCI EAFE Covered Call ETF | 8.26% | 18.86% | 0.72% |
EMCL.NEO Global X Enhanced MSCI Emerging Markets Covered Call ETF | 27.22% | 23.04% | 7.65% |
Correlation
The correlation between EACC.NEO and EMCL.NEO 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 (1Y) Calculated over the trailing 1-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since May 30, 2024 | 0.47 |
The correlation between EACC.NEO and EMCL.NEO shifts across timeframes, from 0.47 (all time) to 0.57 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EACC.NEO vs. EMCL.NEO — Risk / Return Rank
EACC.NEO
EMCL.NEO
EACC.NEO vs. EMCL.NEO - 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 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.
| EACC.NEO | EMCL.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.69 | ||
| Sortino ratioReturn per unit of downside risk | -1.94 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.65 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | 1.79 | 4.29 | -2.51 |
| Martin ratioReturn relative to average drawdown | 6.14 | 15.90 | -9.76 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EACC.NEO | EMCL.NEO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.35 | 3.04 | -1.69 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.91 | 1.57 | -0.66 |
Drawdowns
EACC.NEO vs. EMCL.NEO - Drawdown Comparison
The maximum EACC.NEO drawdown since its inception was -13.35%, smaller than the maximum EMCL.NEO drawdown of -19.19%. Use the drawdown chart below to compare losses from any high point for EACC.NEO and EMCL.NEO.
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Drawdown Indicators
| EACC.NEO | EMCL.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.35% | -19.19% | +5.84% |
Max Drawdown (1Y)Largest decline over 1 year | -11.30% | -13.12% | +1.82% |
Current DrawdownCurrent decline from peak | -0.08% | -0.68% | +0.60% |
Average DrawdownAverage peak-to-trough decline | -2.09% | -2.47% | +0.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.28% | 3.53% | -0.25% |
Volatility
EACC.NEO vs. EMCL.NEO - Volatility Comparison
The current volatility for Global X MSCI EAFE Covered Call ETF (EACC.NEO) is 4.26%, while Global X Enhanced MSCI Emerging Markets Covered Call ETF (EMCL.NEO) has a volatility of 7.86%. This indicates that EACC.NEO 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
| EACC.NEO | EMCL.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.26% | 7.86% | -3.60% |
Volatility (6M)Calculated over the trailing 6-month period | 12.79% | 16.41% | -3.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.97% | 18.54% | -3.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.05% | 19.00% | -3.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.05% | 19.00% | -3.95% |
Dividends
EACC.NEO vs. EMCL.NEO - Dividend Comparison
EACC.NEO's dividend yield for the trailing twelve months is around 7.43%, less than EMCL.NEO's 10.17% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
EACC.NEO Global X MSCI EAFE Covered Call ETF | 7.43% | 7.55% | 5.12% |
EMCL.NEO Global X Enhanced MSCI Emerging Markets Covered Call ETF | 10.17% | 11.76% | 7.24% |
Frequently Asked Questions
EACC.NEO and EMCL.NEO 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.
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