EMCL.NEO vs. AVGY.TO
EMCL.NEO (Global X Enhanced MSCI Emerging Markets Covered Call ETF) and AVGY.TO (Harvest Broadcom Enhanced High Income Shares ETF - Class A Units) are both Derivative Income funds. Both are actively managed. Over the past year, EMCL.NEO returned 56.02% vs 107.90% for AVGY.TO. At a 0.39 correlation, their price movements are largely independent.
Performance
EMCL.NEO vs. AVGY.TO - Performance Comparison
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Returns By Period
In the year-to-date period, EMCL.NEO achieves a 27.22% return, which is significantly lower than AVGY.TO's 42.92% return.
EMCL.NEO
- 1D
- -0.68%
- 1M
- 11.93%
- YTD
- 27.22%
- 6M
- 27.94%
- 1Y
- 56.02%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AVGY.TO
- 1D
- -0.45%
- 1M
- 19.17%
- YTD
- 42.92%
- 6M
- 27.21%
- 1Y
- 107.90%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EMCL.NEO vs. AVGY.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
EMCL.NEO Global X Enhanced MSCI Emerging Markets Covered Call ETF | 27.22% | 17.20% |
AVGY.TO Harvest Broadcom Enhanced High Income Shares ETF - Class A Units | 42.92% | 83.42% |
Correlation
The correlation between EMCL.NEO and AVGY.TO is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Mar 6, 2025 | 0.39 |
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Return for Risk
EMCL.NEO vs. AVGY.TO — Risk / Return Rank
EMCL.NEO
AVGY.TO
EMCL.NEO vs. AVGY.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Enhanced MSCI Emerging Markets Covered Call ETF (EMCL.NEO) and Harvest Broadcom Enhanced High Income Shares ETF - Class A Units (AVGY.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.
| EMCL.NEO | AVGY.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.65 | ||
| Sortino ratioReturn per unit of downside risk | +0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.65 | 1.38 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 4.29 | 3.81 | +0.48 |
| Martin ratioReturn relative to average drawdown | 15.90 | 8.81 | +7.08 |
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
| EMCL.NEO | AVGY.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.04 | 2.39 | +0.65 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.57 | 2.30 | -0.73 |
Drawdowns
EMCL.NEO vs. AVGY.TO - Drawdown Comparison
The maximum EMCL.NEO drawdown since its inception was -19.19%, smaller than the maximum AVGY.TO drawdown of -28.78%. Use the drawdown chart below to compare losses from any high point for EMCL.NEO and AVGY.TO.
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Drawdown Indicators
| EMCL.NEO | AVGY.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.19% | -28.78% | +9.59% |
Max Drawdown (1Y)Largest decline over 1 year | -13.12% | -28.50% | +15.38% |
Current DrawdownCurrent decline from peak | -0.68% | -0.45% | -0.23% |
Average DrawdownAverage peak-to-trough decline | -2.47% | -8.43% | +5.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.53% | 12.29% | -8.76% |
Volatility
EMCL.NEO vs. AVGY.TO - Volatility Comparison
The current volatility for Global X Enhanced MSCI Emerging Markets Covered Call ETF (EMCL.NEO) is 7.86%, while Harvest Broadcom Enhanced High Income Shares ETF - Class A Units (AVGY.TO) has a volatility of 13.20%. This indicates that EMCL.NEO experiences smaller price fluctuations and is considered to be less risky than AVGY.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMCL.NEO | AVGY.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.86% | 13.20% | -5.34% |
Volatility (6M)Calculated over the trailing 6-month period | 16.41% | 33.23% | -16.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.54% | 45.46% | -26.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.00% | 51.13% | -32.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.00% | 51.13% | -32.13% |
Dividends
EMCL.NEO vs. AVGY.TO - Dividend Comparison
EMCL.NEO's dividend yield for the trailing twelve months is around 10.17%, less than AVGY.TO's 19.08% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
AVGY.TO Harvest Broadcom Enhanced High Income Shares ETF - Class A Units | 19.08% | 14.82% | 0.00% |
EMCL.NEO Global X Enhanced MSCI Emerging Markets Covered Call ETF | 10.17% | 11.76% | 7.24% |
Frequently Asked Questions
EMCL.NEO and AVGY.TO have a correlation of 0.43, 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: Global X and Harvest.
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