EMCL.NEO vs. QDAY.NEO

Last updated Jun 26, 2026

EMCL.NEO (Global X Enhanced MSCI Emerging Markets Covered Call ETF) and QDAY.NEO (Hamilton EnhancedTechnology DayMAX™ ETF) are both Derivative Income funds. Both are actively managed. A 0.74 correlation means they provide meaningful diversification when combined.

Performance

EMCL.NEO vs. QDAY.NEO - 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 Hamilton EnhancedTechnology DayMAX™ ETF (QDAY.NEO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with EMCL.NEO having a 28.01% return and QDAY.NEO slightly lower at 26.98%.

EMCL.NEO

• 1D: 0.84%
• 1M: 3.55%
• YTD: 28.01%
• 6M: 29.37%
• 1Y: 48.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QDAY.NEO

• 1D: 0.93%
• 1M: 0.21%
• YTD: 26.98%
• 6M: 25.14%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EMCL.NEO vs. QDAY.NEO - Yearly Performance Comparison

	2026 (YTD)	2025
EMCL.NEO Global X Enhanced MSCI Emerging Markets Covered Call ETF	28.01%	16.10%
QDAY.NEO Hamilton EnhancedTechnology DayMAX™ ETF	26.98%	14.84%

Correlation

The correlation between EMCL.NEO and QDAY.NEO is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 14, 2025	0.74

Return for Risk

EMCL.NEO vs. QDAY.NEO — 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: 78
EMCL.NEO Sharpe Ratio Rank: 79
EMCL.NEO Sortino Ratio Rank: 67
EMCL.NEO Omega Ratio Rank: 85
EMCL.NEO Calmar Ratio Rank: 81
EMCL.NEO Martin Ratio Rank: 79

QDAY.NEO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. QDAY.NEO - 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 Hamilton EnhancedTechnology DayMAX™ ETF (QDAY.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.

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	QDAY.NEO	Difference
Sharpe ratio: Return per unit of total volatility	2.21	—	—
Sortino ratio: Return per unit of downside risk	2.71	—	—
Omega ratio: Gain probability vs. loss probability	1.45	—	—
Calmar ratio: Return relative to maximum drawdown	3.79	—	—
Martin ratio: Return relative to average drawdown	13.57	—	—

Drawdowns

EMCL.NEO vs. QDAY.NEO - Drawdown Comparison

The maximum EMCL.NEO drawdown since its inception was -19.73%, roughly equal to the maximum QDAY.NEO drawdown of -19.44%. Use the drawdown chart below to compare losses from any high point for EMCL.NEO and QDAY.NEO.

Drawdown Indicators

	EMCL.NEO	QDAY.NEO	Difference
Max Drawdown Largest peak-to-trough decline	-19.73%	-19.44%	-0.29%
Max Drawdown (1Y) Largest decline over 1 year	-13.12%	—	—
Current Drawdown Current decline from peak	-3.84%	-3.47%	-0.37%
Average Drawdown Average peak-to-trough decline	-2.57%	-5.14%	+2.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.62%	—	—

Volatility

Volatility by Period

	EMCL.NEO	QDAY.NEO	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.62%	—	—
Volatility (6M) Calculated over the trailing 6-month period	20.77%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	22.46%	24.67%	-2.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.00%	24.67%	-1.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.00%	24.67%	-1.67%

Dividends

EMCL.NEO vs. QDAY.NEO - Dividend Comparison

EMCL.NEO's dividend yield for the trailing twelve months is around 10.11%, less than QDAY.NEO's 15.30% yield.

Position	TTM	2025	2024
EMCL.NEO Global X Enhanced MSCI Emerging Markets Covered Call ETF	10.11%	9.86%	3.10%
QDAY.NEO Hamilton EnhancedTechnology DayMAX™ ETF	15.30%	8.78%	0.00%

Frequently Asked Questions

Can I hold both EMCL.NEO and QDAY.NEO in my portfolio?

EMCL.NEO and QDAY.NEO have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between EMCL.NEO and QDAY.NEO?

They also come from different issuers: Global X and Hamilton Capital.