ENCC.TO vs. HXQ.TO

Last updated Aug 4, 2026

ENCC.TO (Global X Canadian Oil and Gas Equity Covered Call ETF) and HXQ.TO (Global X Nasdaq-100 Index Corporate Class ETF) are both exchange-traded funds - ENCC.TO is a Derivative Income fund tracking the Mirae Asset Equal Weight Canadian Oil & Gas Index, while HXQ.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, ENCC.TO returned 8.77%/yr vs 21.14%/yr for HXQ.TO. Their 0.11 correlation means their historical movements had little consistent relationship. ENCC.TO charges 0.92%/yr vs 0.25%/yr for HXQ.TO.

Performance

ENCC.TO vs. HXQ.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.TO) and Global X Nasdaq-100 Index Corporate Class ETF (HXQ.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ENCC.TO achieves a 31.48% return, which is significantly higher than HXQ.TO's 14.56% return. Over the past 10 years, ENCC.TO has underperformed HXQ.TO with an annualized return of 8.77%, while HXQ.TO has yielded a comparatively higher 21.14% annualized return.

ENCC.TO

• 1D: -0.54%
• 1M: 7.81%
• 6M: 25.10%
• YTD: 31.48%
• 1Y: 41.56%
• 3Y*: 21.55%
• 5Y*: 27.81%
• 10Y*: 8.77%
• ALL TIME*: -1.75%

HXQ.TO

• 1D: 0.69%
• 1M: -5.98%
• 6M: 12.81%
• YTD: 14.56%
• 1Y: 26.47%
• 3Y*: 24.20%
• 5Y*: 16.73%
• 10Y*: 21.14%
• ALL TIME*: 21.11%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ENCC.TO Global X Canadian Oil and Gas Equity Covered Call ETF	CA$1.63M	CA$1.50M	CA$2.06M
HXQ.TO Global X Nasdaq-100 Index Corporate Class ETF	CA$2.97M	CA$3.02M	CA$3.91M

ENCC.TO vs. HXQ.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ENCC.TO Global X Canadian Oil and Gas Equity Covered Call ETF	31.48%	13.13%	17.39%	5.72%	41.32%	80.54%	-27.98%	6.56%	-30.99%	-18.47%
HXQ.TO Global X Nasdaq-100 Index Corporate Class ETF	14.56%	15.05%	35.98%	51.16%	-27.84%	26.20%	45.58%	32.26%	6.71%	23.12%

Correlation

The correlation between ENCC.TO and HXQ.TO is -0.19, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.19
Correlation (3Y) Balances recent behavior with more history.	0.02
Correlation (5Y) Shows whether the relationship held over a longer period.	0.07
Correlation (10Y) Provides a long-term view across more market conditions.	0.11
Correlation (All Time) Calculated using the full available price history since Apr 21, 2016	0.11

The correlation between ENCC.TO and HXQ.TO shifts across timeframes, from -0.19 (1 year) to 0.11 (10 years), reflecting how their relationship changes across market environments.

ENCC.TO vs. HXQ.TO - Sectors Allocation Comparison

Sectors	ENCC.TO	HXQ.TO
Energy	100.0%	0.5%
Basic Materials	-	1.0%
Communication Services	-	15.8%
Consumer Cyclical	-	13.2%
Consumer Defensive	-	4.4%
Financial Services	-	0.3%
Healthcare	-	4.4%
Industrials	-	3.1%
Real Estate	-	0.2%
Technology	-	55.9%
Utilities	-	1.4%

Return for Risk

ENCC.TO vs. HXQ.TO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ENCC.TO

ENCC.TO Risk / Return Rank: 92
ENCC.TO Sharpe Ratio Rank: 94
ENCC.TO Sortino Ratio Rank: 92
ENCC.TO Omega Ratio Rank: 92
ENCC.TO Calmar Ratio Rank: 94
ENCC.TO Martin Ratio Rank: 88

HXQ.TO

HXQ.TO Risk / Return Rank: 49
HXQ.TO Sharpe Ratio Rank: 50
HXQ.TO Sortino Ratio Rank: 47
HXQ.TO Omega Ratio Rank: 49
HXQ.TO Calmar Ratio Rank: 52
HXQ.TO Martin Ratio Rank: 48

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ENCC.TO vs. HXQ.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 Global X Nasdaq-100 Index Corporate Class ETF (HXQ.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	HXQ.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.66	1.25	+1.41
Sortino ratio: Return per unit of downside risk	3.45	1.75	+1.70
Omega ratio: Gain probability vs. loss probability	1.46	1.23	+0.24
Calmar ratio: Return relative to maximum drawdown	4.83	1.90	+2.93
Martin ratio: Return relative to average drawdown	13.84	5.49	+8.35

ENCC.TO vs. HXQ.TO - Sharpe Ratio Comparison

The current ENCC.TO Sharpe Ratio is 2.66, which is higher than the HXQ.TO Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of ENCC.TO and HXQ.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.

Drawdowns

ENCC.TO vs. HXQ.TO - Drawdown Comparison

The maximum ENCC.TO drawdown since its inception was -93.29%, which is greater than HXQ.TO's maximum drawdown of -31.60%. Use the drawdown chart below to compare losses from any high point for ENCC.TO and HXQ.TO.

Drawdown Indicators

	ENCC.TO	HXQ.TO	Difference
Max Drawdown Largest peak-to-trough decline	-93.29%	-31.60%	-61.69%
Max Drawdown (1Y) Largest decline over 1 year	-8.48%	-12.43%	+3.95%
Max Drawdown (3Y) Largest decline over 3 years	-16.67%	-22.58%	+5.91%
Max Drawdown (5Y) Largest decline over 5 years	-25.58%	-31.60%	+6.02%
Max Drawdown (10Y) Largest decline over 10 years	-82.15%	-31.60%	-50.55%
Current Drawdown Current decline from peak	-24.31%	-7.80%	-16.51%
Average Drawdown Average peak-to-trough decline	-55.78%	-5.72%	-50.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.95%	4.30%	-1.35%

Volatility

ENCC.TO vs. HXQ.TO - Volatility Comparison

The current volatility for Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.TO) is 5.50%, while Global X Nasdaq-100 Index Corporate Class ETF (HXQ.TO) has a volatility of 6.71%. This indicates that ENCC.TO experiences smaller price fluctuations and is considered to be less risky than HXQ.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ENCC.TO	HXQ.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.50%	6.71%	-1.21%
Volatility (6M) Calculated over the trailing 6-month period	12.71%	15.67%	-2.96%
Volatility (1Y) Calculated over the trailing 1-year period	15.41%	18.98%	-3.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.54%	21.29%	+1.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.01%	21.07%	+7.94%

ENCC.TO vs. HXQ.TO - Expense Ratio Comparison

ENCC.TO has a 0.92% expense ratio, which is higher than HXQ.TO's 0.25% expense ratio.

Dividends

ENCC.TO vs. HXQ.TO - Dividend Comparison

ENCC.TO's dividend yield for the trailing twelve months is around 11.09%, while HXQ.TO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	6.11%	8.37%	6.93%	4.34%	3.03%
HXQ.TO Global X Nasdaq-100 Index Corporate Class ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ENCC.TO and HXQ.TO in my portfolio?

ENCC.TO and HXQ.TO have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ENCC.TO or HXQ.TO?

On fees, HXQ.TO is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ENCC.TO or HXQ.TO?

HXQ.TO is cheaper with a 0.25% expense ratio, compared with 0.92% for ENCC.TO.

What is the main difference between ENCC.TO and HXQ.TO?

ENCC.TO is categorized as Derivative Income, while HXQ.TO is Nasdaq-100. ENCC.TO tracks Mirae Asset Equal Weight Canadian Oil & Gas Index, while HXQ.TO tracks NASDAQ-100 Index. Their fees differ too: 0.92% for ENCC.TO and 0.25% for HXQ.TO.