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EMCL.NEO vs. NXF.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EMCL.NEO vs. NXF.TO

Last updated Jun 4, 2026

EMCL.NEO (Global X Enhanced MSCI Emerging Markets Covered Call ETF) and NXF.TO (CI Energy Giants Covered Call ETF Common Units (CAD Hedged)) are both exchange-traded funds - EMCL.NEO is a Derivative Income fund actively managed by Global X, while NXF.TO is a Energy Equities fund actively managed by CI. Both are actively managed. Over the past year, EMCL.NEO returned 56.02% vs 45.90% for NXF.TO. At a 0.01 correlation, their price movements are largely independent.

Performance

EMCL.NEO vs. NXF.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Enhanced MSCI Emerging Markets Covered Call ETF (EMCL.NEO) and CI Energy Giants Covered Call ETF Common Units (CAD Hedged) (NXF.TO). The values are adjusted to include any dividend payments, if applicable.

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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 NXF.TO's 32.43% return.

EMCL.NEO

1D
-0.68%
1M
11.93%
YTD
27.22%
6M
27.94%
1Y
56.02%
3Y*
—
5Y*
—
10Y*
—

NXF.TO

1D
1.17%
1M
-2.11%
YTD
32.43%
6M
29.37%
1Y
45.90%
3Y*
15.64%
5Y*
17.39%
10Y*
8.23%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EMCL.NEO vs. NXF.TO - Yearly Performance Comparison

2026 (YTD)20252024
EMCL.NEO
Global X Enhanced MSCI Emerging Markets Covered Call ETF		27.22%23.04%7.65%
NXF.TO
CI Energy Giants Covered Call ETF Common Units (CAD Hedged)		32.43%9.19%-10.40%

Correlation

The correlation between EMCL.NEO and NXF.TO is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.10

Correlation (All Time)
Calculated using the full available price history since May 30, 2024

0.01

The correlation between EMCL.NEO and NXF.TO shifts across timeframes, from -0.10 (1 year) to 0.01 (all time), reflecting how their relationship changes across market environments.

EMCL.NEO vs. NXF.TO - Sectors Allocation Comparison

Sectors
EMCL.NEO
NXF.TO

Technology

36.1%

-

Financial Services

20.8%

-

Basic Materials

8.0%

-

Industrials

7.6%

-

Consumer Cyclical

7.4%

-

Communication Services

7.3%

-

Energy

4.0%
100.0%

Consumer Defensive

3.0%

-

Healthcare

2.6%

-

Utilities

2.0%

-

Real Estate

1.2%

-

Technology

EMCL.NEO
36.1%
NXF.TO

-

Financial Services

EMCL.NEO
20.8%
NXF.TO

-

Basic Materials

EMCL.NEO
8.0%
NXF.TO

-

Industrials

EMCL.NEO
7.6%
NXF.TO

-

Consumer Cyclical

EMCL.NEO
7.4%
NXF.TO

-

Communication Services

EMCL.NEO
7.3%
NXF.TO

-

Energy

EMCL.NEO
4.0%
NXF.TO
100.0%

Consumer Defensive

EMCL.NEO
3.0%
NXF.TO

-

Healthcare

EMCL.NEO
2.6%
NXF.TO

-

Utilities

EMCL.NEO
2.0%
NXF.TO

-

Real Estate

EMCL.NEO
1.2%
NXF.TO

-

Compare stocks, funds, or ETFs

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Global X Enhanced MSCI Emerging Markets Covered Call ETF

CI Energy Giants Covered Call ETF Common Units (CAD Hedged)

Often compared with EMCL.NEO:
EMCL.NEO vs. EQCC.TOEMCL.NEO vs. EQCL.TOEMCL.NEO vs. BKCL.TOEMCL.NEO vs. BKCC.TOEMCL.NEO vs. CASH.TOEMCL.NEO vs. HBNK.TOEMCL.NEO vs. EACC.NEO
Often compared with NXF.TO:
NXF.TO vs. VXM-B.TONXF.TO vs. XEG.TONXF.TO vs. CCOM.TONXF.TO vs. CBCX.TONXF.TO vs. CEQP.TONXF.TO vs. YPLT.NEONXF.TO vs. CBNK.TO

Return for Risk

EMCL.NEO vs. NXF.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EMCL.NEO
EMCL.NEO Risk / Return Rank: 8686
Overall Rank
EMCL.NEO Sharpe Ratio Rank: 9090
Sharpe Ratio Rank
EMCL.NEO Sortino Ratio Rank: 8484
Sortino Ratio Rank
EMCL.NEO Omega Ratio Rank: 9393
Omega Ratio Rank
EMCL.NEO Calmar Ratio Rank: 8282
Calmar Ratio Rank
EMCL.NEO Martin Ratio Rank: 8181
Martin Ratio Rank
NXF.TO
NXF.TO Risk / Return Rank: 7373
Overall Rank
NXF.TO Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
NXF.TO Sortino Ratio Rank: 6666
Sortino Ratio Rank
NXF.TO Omega Ratio Rank: 6464
Omega Ratio Rank
NXF.TO Calmar Ratio Rank: 8787
Calmar Ratio Rank
NXF.TO Martin Ratio Rank: 7474
Martin Ratio Rank
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.

EMCL.NEO vs. NXF.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 CI Energy Giants Covered Call ETF Common Units (CAD Hedged) (NXF.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.NEONXF.TODifference
Sharpe ratioReturn per unit of total volatility
3.04
2.36

+0.67

Sortino ratioReturn per unit of downside risk
3.77
3.03

+0.74

Omega ratioGain probability vs. loss probability

1.65

1.38

+0.27

Calmar ratioReturn relative to maximum drawdown

4.29

4.90

-0.61

Martin ratioReturn relative to average drawdown

15.90

13.97

+1.93

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMCL.NEO vs. NXF.TO - Sharpe Ratio Comparison

The current EMCL.NEO Sharpe Ratio is 3.04, which is comparable to the NXF.TO Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of EMCL.NEO and NXF.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.

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Sharpe Ratios by Period

EMCL.NEONXF.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.04

2.36

+0.67

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.75

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.32

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.57

0.22

+1.35

Drawdowns

EMCL.NEO vs. NXF.TO - Drawdown Comparison

The maximum EMCL.NEO drawdown since its inception was -19.19%, smaller than the maximum NXF.TO drawdown of -65.25%. Use the drawdown chart below to compare losses from any high point for EMCL.NEO and NXF.TO.

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Drawdown Indicators

EMCL.NEONXF.TODifference

Max Drawdown

Largest peak-to-trough decline

-19.19%

-65.25%

+46.06%

Max Drawdown (1Y)

Largest decline over 1 year

-13.12%

-9.41%

-3.71%

Max Drawdown (3Y)

Largest decline over 3 years

—

-24.26%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-24.26%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-65.25%

—

Current Drawdown

Current decline from peak

-0.68%

-5.01%

+4.33%

Average Drawdown

Average peak-to-trough decline

-2.47%

-16.04%

+13.57%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.53%

3.30%

+0.23%

Volatility

EMCL.NEO vs. NXF.TO - Volatility Comparison

Global X Enhanced MSCI Emerging Markets Covered Call ETF (EMCL.NEO) and CI Energy Giants Covered Call ETF Common Units (CAD Hedged) (NXF.TO) have volatilities of 7.86% and 7.55%, 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.

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Volatility by Period

EMCL.NEONXF.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

7.86%

7.55%

+0.31%

Volatility (6M)

Calculated over the trailing 6-month period

16.41%

15.65%

+0.76%

Volatility (1Y)

Calculated over the trailing 1-year period

18.54%

19.57%

-1.03%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.00%

23.39%

-4.39%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.00%

26.16%

-7.16%

Dividends

EMCL.NEO vs. NXF.TO - Dividend Comparison

EMCL.NEO's dividend yield for the trailing twelve months is around 10.17%, more than NXF.TO's 8.04% yield.

PositionTTM20252024202320222021202020192018201720162015
EMCL.NEO
Global X Enhanced MSCI Emerging Markets Covered Call ETF		10.17%11.76%7.24%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
NXF.TO
CI Energy Giants Covered Call ETF Common Units (CAD Hedged)		8.04%7.70%8.50%8.60%11.22%9.48%11.23%7.83%9.38%6.50%8.24%8.05%

Frequently Asked Questions

EMCL.NEO and NXF.TO have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EMCL.NEO is categorized as Derivative Income, while NXF.TO is Energy Equities. They also come from different issuers: Global X and CI.

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