EMCL.NEO vs. RCDC.TO
EMCL.NEO (Global X Enhanced MSCI Emerging Markets Covered Call ETF) and RCDC.TO (RBC Canadian Dividend Covered Call ETF) are both Derivative Income funds. Both are actively managed. Over the past year, EMCL.NEO returned 56.02% vs 29.08% for RCDC.TO. At a 0.27 correlation, their price movements are largely independent.
Performance
EMCL.NEO vs. RCDC.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 higher than RCDC.TO's 12.49% return.
EMCL.NEO
- 1D
- -0.68%
- 1M
- 11.93%
- YTD
- 27.22%
- 6M
- 27.94%
- 1Y
- 56.02%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
RCDC.TO
- 1D
- 0.08%
- 1M
- 4.61%
- YTD
- 12.49%
- 6M
- 14.54%
- 1Y
- 29.08%
- 3Y*
- 18.86%
- 5Y*
- —
- 10Y*
- —
EMCL.NEO vs. RCDC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
EMCL.NEO Global X Enhanced MSCI Emerging Markets Covered Call ETF | 27.22% | 23.04% | 7.65% |
RCDC.TO RBC Canadian Dividend Covered Call ETF | 12.49% | 19.29% | 11.86% |
Correlation
The correlation between EMCL.NEO and RCDC.TO is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since May 30, 2024 | 0.27 |
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Return for Risk
EMCL.NEO vs. RCDC.TO — Risk / Return Rank
EMCL.NEO
RCDC.TO
EMCL.NEO vs. RCDC.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 RBC Canadian Dividend Covered Call ETF (RCDC.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 | RCDC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -1.35 | ||
| Omega ratioGain probability vs. loss probability | 1.65 | 1.67 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 4.29 | 5.38 | -1.09 |
| Martin ratioReturn relative to average drawdown | 15.90 | 26.80 | -10.90 |
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 | RCDC.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.04 | 3.54 | -0.50 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.57 | 1.50 | +0.07 |
Drawdowns
EMCL.NEO vs. RCDC.TO - Drawdown Comparison
The maximum EMCL.NEO drawdown since its inception was -19.19%, which is greater than RCDC.TO's maximum drawdown of -10.88%. Use the drawdown chart below to compare losses from any high point for EMCL.NEO and RCDC.TO.
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Drawdown Indicators
| EMCL.NEO | RCDC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.19% | -10.88% | -8.31% |
Max Drawdown (1Y)Largest decline over 1 year | -13.12% | -5.43% | -7.69% |
Max Drawdown (3Y)Largest decline over 3 years | — | -10.88% | — |
Current DrawdownCurrent decline from peak | -0.68% | -0.19% | -0.49% |
Average DrawdownAverage peak-to-trough decline | -2.47% | -1.87% | -0.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.53% | 1.09% | +2.44% |
Volatility
EMCL.NEO vs. RCDC.TO - Volatility Comparison
Global X Enhanced MSCI Emerging Markets Covered Call ETF (EMCL.NEO) has a higher volatility of 7.86% compared to RBC Canadian Dividend Covered Call ETF (RCDC.TO) at 2.49%. This indicates that EMCL.NEO's price experiences larger fluctuations and is considered to be riskier than RCDC.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 | RCDC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.86% | 2.49% | +5.37% |
Volatility (6M)Calculated over the trailing 6-month period | 16.41% | 6.71% | +9.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.54% | 8.25% | +10.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.00% | 10.15% | +8.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.00% | 10.15% | +8.85% |
Dividends
EMCL.NEO vs. RCDC.TO - Dividend Comparison
EMCL.NEO's dividend yield for the trailing twelve months is around 10.17%, more than RCDC.TO's 6.33% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
EMCL.NEO Global X Enhanced MSCI Emerging Markets Covered Call ETF | 10.17% | 11.76% | 7.24% | 0.00% |
RCDC.TO RBC Canadian Dividend Covered Call ETF | 6.33% | 6.38% | 6.46% | 6.49% |
Frequently Asked Questions
EMCL.NEO and RCDC.TO have a correlation of 0.36, 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 RBC.
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