ENCC.TO vs. DXQ.TO
ENCC.TO (Global X Canadian Oil and Gas Equity 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 3 years, ENCC.TO returned 21.68%/yr vs 17.51%/yr for DXQ.TO. At a 0.16 correlation, their price movements are largely independent. ENCC.TO charges 0.76%/yr vs 0.72%/yr for DXQ.TO.
Performance
ENCC.TO vs. DXQ.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ENCC.TO achieves a 22.25% return, which is significantly higher than DXQ.TO's 7.63% return.
ENCC.TO
- 1D
- -1.76%
- 1M
- -4.63%
- YTD
- 22.25%
- 6M
- 23.63%
- 1Y
- 33.26%
- 3Y*
- 21.68%
- 5Y*
- 22.97%
- 10Y*
- 8.12%
DXQ.TO
- 1D
- -0.25%
- 1M
- 0.61%
- YTD
- 7.63%
- 6M
- 7.76%
- 1Y
- 17.05%
- 3Y*
- 17.51%
- 5Y*
- —
- 10Y*
- —
ENCC.TO vs. DXQ.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ENCC.TO Global X Canadian Oil and Gas Equity Covered Call ETF | 22.25% | 13.13% | 17.39% | 5.72% | -0.38% |
DXQ.TO Dynamic Active Enhanced Yield Covered Options ETF | 7.63% | 12.99% | 21.07% | 20.08% | 3.57% |
Correlation
The correlation between ENCC.TO and DXQ.TO is -0.16, 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 | -0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Sep 20, 2022 | 0.16 |
The correlation between ENCC.TO and DXQ.TO shifts across timeframes, from -0.16 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ENCC.TO vs. DXQ.TO — Risk / Return Rank
ENCC.TO
DXQ.TO
ENCC.TO vs. DXQ.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 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.
| ENCC.TO | DXQ.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.46 | ||
| Sortino ratioReturn per unit of downside risk | +0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.35 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.94 | 3.35 | +0.59 |
| Martin ratioReturn relative to average drawdown | 12.88 | 9.30 | +3.58 |
Loading charts...
Drawdowns
ENCC.TO vs. DXQ.TO - Drawdown Comparison
The maximum ENCC.TO drawdown since its inception was -93.29%, 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 ENCC.TO and DXQ.TO.
Loading charts...
Drawdown Indicators
| ENCC.TO | DXQ.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.29% | -15.54% | -77.75% |
Max Drawdown (1Y)Largest decline over 1 year | -8.48% | -5.11% | -3.37% |
Max Drawdown (3Y)Largest decline over 3 years | -16.67% | -15.54% | -1.13% |
Max Drawdown (5Y)Largest decline over 5 years | -25.58% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -82.15% | — | — |
Current DrawdownCurrent decline from peak | -29.62% | -1.63% | -27.99% |
Average DrawdownAverage peak-to-trough decline | -55.98% | -1.26% | -54.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.59% | 1.84% | +0.75% |
Volatility
ENCC.TO vs. DXQ.TO - Volatility Comparison
Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.TO) has a higher volatility of 5.54% compared to Dynamic Active Enhanced Yield Covered Options ETF (DXQ.TO) at 3.10%. This indicates that ENCC.TO'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.
Loading charts...
Volatility by Period
| ENCC.TO | DXQ.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.54% | 3.10% | +2.44% |
Volatility (6M)Calculated over the trailing 6-month period | 12.47% | 7.56% | +4.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.58% | 9.36% | +5.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.99% | 10.93% | +12.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.02% | 10.93% | +18.09% |
ENCC.TO vs. DXQ.TO - Expense Ratio Comparison
ENCC.TO has a 0.76% expense ratio, which is higher than DXQ.TO's 0.72% expense ratio.
Dividends
ENCC.TO vs. DXQ.TO - Dividend Comparison
ENCC.TO's dividend yield for the trailing twelve months is around 11.71%, more than DXQ.TO's 7.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DXQ.TO Dynamic Active Enhanced Yield Covered Options ETF | 7.71% | 7.45% | 5.74% | 6.54% | 1.83% | 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 | 11.71% | 13.62% | 14.58% | 14.87% | 12.55% | 4.23% | 5.10% | 6.11% | 8.37% | 6.93% | 4.34% | 3.03% |
Frequently Asked Questions
ENCC.TO and DXQ.TO have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DXQ.TO is cheaper at 0.72% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DXQ.TO is cheaper with a 0.72% expense ratio, compared with 0.76% for ENCC.TO.
They also come from different issuers: Global X and Dynamic. Their fees differ too: 0.76% for ENCC.TO and 0.72% for DXQ.TO.
Find the right allocation for ENCC.TO and DXQ.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer