ENCC.TO vs. CNQE.TO
ENCC.TO (Global X Canadian Oil and Gas Equity Covered Call ETF) and CNQE.TO (Harvest CNQ Enhanced High Income Shares ETF) are both Derivative Income funds. Both are actively managed. A 0.79 correlation means they provide meaningful diversification when combined. ENCC.TO charges 0.76%/yr vs 0.40%/yr for CNQE.TO.
Performance
ENCC.TO vs. CNQE.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ENCC.TO achieves a 29.01% return, which is significantly lower than CNQE.TO's 39.35% return.
ENCC.TO
- 1D
- 0.93%
- 1M
- 2.37%
- YTD
- 29.01%
- 6M
- 25.71%
- 1Y
- 41.57%
- 3Y*
- 22.89%
- 5Y*
- 25.31%
- 10Y*
- 8.49%
CNQE.TO
- 1D
- 1.83%
- 1M
- 3.29%
- YTD
- 39.35%
- 6M
- 37.15%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ENCC.TO vs. CNQE.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ENCC.TO Global X Canadian Oil and Gas Equity Covered Call ETF | 29.01% | 5.43% |
CNQE.TO Harvest CNQ Enhanced High Income Shares ETF | 39.35% | 13.80% |
Correlation
The correlation between ENCC.TO and CNQE.TO is 0.79, 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 Aug 22, 2025 | 0.79 |
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Return for Risk
ENCC.TO vs. CNQE.TO — Risk / Return Rank
ENCC.TO
CNQE.TO
ENCC.TO vs. CNQE.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.TO) and Harvest CNQ Enhanced High Income Shares ETF (CNQE.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.
| ENCC.TO | CNQE.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.53 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 4.93 | — | — |
| Martin ratioReturn relative to average drawdown | 17.54 | — | — |
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
| ENCC.TO | CNQE.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.98 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.11 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.29 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.00 | 2.48 | -2.48 |
Drawdowns
ENCC.TO vs. CNQE.TO - Drawdown Comparison
The maximum ENCC.TO drawdown since its inception was -89.91%, which is greater than CNQE.TO's maximum drawdown of -18.22%. Use the drawdown chart below to compare losses from any high point for ENCC.TO and CNQE.TO.
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Drawdown Indicators
| ENCC.TO | CNQE.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.91% | -18.22% | -71.69% |
Max Drawdown (1Y)Largest decline over 1 year | -8.48% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -16.67% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -25.57% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -82.16% | — | — |
Current DrawdownCurrent decline from peak | -1.99% | -6.08% | +4.09% |
Average DrawdownAverage peak-to-trough decline | -39.82% | -4.12% | -35.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.38% | — | — |
Volatility
ENCC.TO vs. CNQE.TO - Volatility Comparison
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Volatility by Period
| ENCC.TO | CNQE.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.66% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 12.36% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 14.08% | 33.12% | -19.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.03% | 33.12% | -10.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.05% | 33.12% | -4.07% |
ENCC.TO vs. CNQE.TO - Expense Ratio Comparison
ENCC.TO has a 0.76% expense ratio, which is higher than CNQE.TO's 0.40% expense ratio.
Dividends
ENCC.TO vs. CNQE.TO - Dividend Comparison
ENCC.TO's dividend yield for the trailing twelve months is around 11.09%, more than CNQE.TO's 9.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNQE.TO Harvest CNQ Enhanced High Income Shares ETF | 9.40% | 4.42% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ENCC.TO Global X Canadian Oil and Gas Equity Covered Call ETF | 11.09% | 13.62% | 14.58% | 14.87% | 12.55% | 4.23% | 5.10% | 6.09% | 8.35% | 6.92% | 4.77% | 15.15% |
Frequently Asked Questions
ENCC.TO and CNQE.TO have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CNQE.TO is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CNQE.TO is cheaper with a 0.40% expense ratio, compared with 0.76% for ENCC.TO.
They also come from different issuers: Global X and Harvest. Their fees differ too: 0.76% for ENCC.TO and 0.40% for CNQE.TO.
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