ENCC.TO vs. PYF.TO
ENCC.TO (Global X Canadian Oil and Gas Equity Covered Call ETF) and PYF.TO (Purpose Premium Yield Fund Series ETF) are both exchange-traded funds - ENCC.TO is a Derivative Income fund tracking the Mirae Asset Equal Weight Canadian Oil & Gas Index, while PYF.TO is a Diversified Portfolio fund actively managed by Purpose. ENCC.TO is passively managed, while PYF.TO is actively managed. Over the past 10 years, ENCC.TO returned 8.77%/yr vs 4.72%/yr for PYF.TO. Their 0.24 correlation means their historical movements had little consistent relationship. ENCC.TO charges 0.92%/yr vs 0.78%/yr for PYF.TO.
Performance
ENCC.TO vs. PYF.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ENCC.TO achieves a 31.48% return, which is significantly higher than PYF.TO's 2.88% return. Over the past 10 years, ENCC.TO has outperformed PYF.TO with an annualized return of 8.77%, while PYF.TO has yielded a comparatively lower 4.72% 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%
PYF.TO
- 1D
- -0.06%
- 1M
- 1.39%
- 6M
- 2.94%
- YTD
- 2.88%
- 1Y
- 3.72%
- 3Y*
- 6.56%
- 5Y*
- 6.14%
- 10Y*
- 4.72%
- ALL TIME*
- 4.70%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$1.63M | CA$1.50M | CA$2.06M | |
| CA$180.70K | CA$168.19K | CA$423.89K |
ENCC.TO vs. PYF.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% |
PYF.TO Purpose Premium Yield Fund Series ETF | 2.88% | 5.45% | 7.42% | 8.40% | 5.25% | 4.95% | -1.59% | 7.28% | 2.01% | 3.61% |
Correlation
The correlation between ENCC.TO and PYF.TO is -0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.06 |
Correlation (3Y) Balances recent behavior with more history. | 0.14 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.21 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.24 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2016 | 0.24 |
The correlation between ENCC.TO and PYF.TO shifts across timeframes, from -0.06 (1 year) to 0.24 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
ENCC.TO vs. PYF.TO — Risk / Return Rank
ENCC.TO
PYF.TO
ENCC.TO vs. PYF.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 Purpose Premium Yield Fund Series ETF (PYF.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 | PYF.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.49 | ||
| Sortino ratioReturn per unit of downside risk | +1.74 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.23 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 4.83 | 1.79 | +3.04 |
| Martin ratioReturn relative to average drawdown | 13.84 | 4.79 | +9.05 |
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Drawdowns
ENCC.TO vs. PYF.TO - Drawdown Comparison
The maximum ENCC.TO drawdown since its inception was -93.29%, which is greater than PYF.TO's maximum drawdown of -20.53%. Use the drawdown chart below to compare losses from any high point for ENCC.TO and PYF.TO.
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Drawdown Indicators
| ENCC.TO | PYF.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.29% | -20.53% | -72.76% |
Max Drawdown (1Y)Largest decline over 1 year | -8.48% | -2.11% | -6.37% |
Max Drawdown (3Y)Largest decline over 3 years | -16.67% | -5.57% | -11.10% |
Max Drawdown (5Y)Largest decline over 5 years | -25.58% | -5.57% | -20.01% |
Max Drawdown (10Y)Largest decline over 10 years | -82.15% | -20.53% | -61.62% |
Current DrawdownCurrent decline from peak | -24.31% | -0.06% | -24.25% |
Average DrawdownAverage peak-to-trough decline | -55.78% | -0.97% | -54.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.95% | 0.79% | +2.16% |
Volatility
ENCC.TO vs. PYF.TO - Volatility Comparison
Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.TO) has a higher volatility of 5.50% compared to Purpose Premium Yield Fund Series ETF (PYF.TO) at 1.04%. This indicates that ENCC.TO's price experiences larger fluctuations and is considered to be riskier than PYF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ENCC.TO | PYF.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.50% | 1.04% | +4.46% |
Volatility (6M)Calculated over the trailing 6-month period | 12.71% | 2.82% | +9.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.41% | 3.28% | +12.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.54% | 5.26% | +17.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.01% | 6.67% | +22.34% |
ENCC.TO vs. PYF.TO - Expense Ratio Comparison
ENCC.TO has a 0.92% expense ratio, which is higher than PYF.TO's 0.78% expense ratio.
Dividends
ENCC.TO vs. PYF.TO - Dividend Comparison
ENCC.TO's dividend yield for the trailing twelve months is around 11.09%, more than PYF.TO's 7.07% yield.
| 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% |
PYF.TO Purpose Premium Yield Fund Series ETF | 7.07% | 7.84% | 7.66% | 7.47% | 5.78% | 5.74% | 5.69% | 5.29% | 5.38% | 5.83% | 6.59% | 0.00% |
Frequently Asked Questions
ENCC.TO and PYF.TO have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PYF.TO is cheaper at 0.78% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PYF.TO is cheaper with a 0.78% expense ratio, compared with 0.92% for ENCC.TO.
ENCC.TO is categorized as Derivative Income, while PYF.TO is Diversified Portfolio. They also come from different issuers: Global X and Purpose. Their fees differ too: 0.92% for ENCC.TO and 0.78% for PYF.TO.
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