EMCL.NEO vs. DXQ.TO
EMCL.NEO (Global X Enhanced MSCI Emerging Markets Covered Call ETF) and DXQ.TO (Dynamic Active Enhanced Yield Covered Options ETF) are both Derivative Income funds. Both are actively managed. Over the past year, EMCL.NEO returned 48.25% vs 16.81% for DXQ.TO. At a 0.44 correlation, their price movements are largely independent.
Performance
EMCL.NEO vs. DXQ.TO - Performance Comparison
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Returns By Period
In the year-to-date period, EMCL.NEO achieves a 28.01% return, which is significantly higher than DXQ.TO's 7.37% return.
EMCL.NEO
- 1D
- 0.84%
- 1M
- 3.55%
- YTD
- 28.01%
- 6M
- 29.37%
- 1Y
- 48.25%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DXQ.TO
- 1D
- -0.24%
- 1M
- 1.01%
- YTD
- 7.37%
- 6M
- 7.50%
- 1Y
- 16.81%
- 3Y*
- 17.48%
- 5Y*
- —
- 10Y*
- —
EMCL.NEO vs. DXQ.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
EMCL.NEO Global X Enhanced MSCI Emerging Markets Covered Call ETF | 28.01% | 20.46% | 3.66% |
DXQ.TO Dynamic Active Enhanced Yield Covered Options ETF | 7.37% | 12.99% | 11.00% |
Correlation
The correlation between EMCL.NEO and DXQ.TO is 0.52, 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 | 0.52 |
Correlation (All Time) Calculated using the full available price history since May 29, 2024 | 0.44 |
The correlation between EMCL.NEO and DXQ.TO has been stable across timeframes, ranging from 0.44 to 0.52 - a consistent structural relationship.
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Return for Risk
EMCL.NEO vs. DXQ.TO — Risk / Return Rank
EMCL.NEO
DXQ.TO
EMCL.NEO vs. DXQ.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 Dynamic Active Enhanced Yield Covered Options ETF (DXQ.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.
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.
| EMCL.NEO | DXQ.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.40 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.34 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.79 | 3.30 | +0.49 |
| Martin ratioReturn relative to average drawdown | 13.57 | 9.15 | +4.42 |
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Drawdowns
EMCL.NEO vs. DXQ.TO - Drawdown Comparison
The maximum EMCL.NEO drawdown since its inception was -19.73%, which is greater than DXQ.TO's maximum drawdown of -15.54%. Use the drawdown chart below to compare losses from any high point for EMCL.NEO and DXQ.TO.
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Drawdown Indicators
| EMCL.NEO | DXQ.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.73% | -15.54% | -4.19% |
Max Drawdown (1Y)Largest decline over 1 year | -13.12% | -5.11% | -8.01% |
Max Drawdown (3Y)Largest decline over 3 years | — | -15.54% | — |
Current DrawdownCurrent decline from peak | -3.84% | -1.86% | -1.98% |
Average DrawdownAverage peak-to-trough decline | -2.57% | -1.26% | -1.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.62% | 1.84% | +1.78% |
Volatility
EMCL.NEO vs. DXQ.TO - Volatility Comparison
Global X Enhanced MSCI Emerging Markets Covered Call ETF (EMCL.NEO) has a higher volatility of 12.62% compared to Dynamic Active Enhanced Yield Covered Options ETF (DXQ.TO) at 3.11%. This indicates that EMCL.NEO's price experiences larger fluctuations and is considered to be riskier than DXQ.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 | DXQ.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.62% | 3.11% | +9.51% |
Volatility (6M)Calculated over the trailing 6-month period | 20.77% | 7.57% | +13.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.46% | 9.31% | +13.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.00% | 10.92% | +12.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.00% | 10.92% | +12.08% |
Dividends
EMCL.NEO vs. DXQ.TO - Dividend Comparison
EMCL.NEO's dividend yield for the trailing twelve months is around 10.11%, more than DXQ.TO's 7.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
DXQ.TO Dynamic Active Enhanced Yield Covered Options ETF | 7.89% | 7.45% | 5.74% | 6.54% | 1.83% |
EMCL.NEO Global X Enhanced MSCI Emerging Markets Covered Call ETF | 10.11% | 9.86% | 3.10% | 0.00% | 0.00% |
Frequently Asked Questions
EMCL.NEO and DXQ.TO have a correlation of 0.52, 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 Dynamic.
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