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ENCC.TO vs. QQQX.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ENCC.TO vs. QQQX.TO

Last updated Jun 4, 2026

ENCC.TO (Global X Canadian Oil and Gas Equity Covered Call ETF) and QQQX.TO (Global X Nasdaq-100 Index ETF) are both exchange-traded funds - ENCC.TO is a Derivative Income fund actively managed by Global X, while QQQX.TO is a Nasdaq-100 fund tracking the Nasdaq-100 Index. ENCC.TO is actively managed, while QQQX.TO is passively managed. Over the past year, ENCC.TO returned 41.57% vs 43.61% for QQQX.TO. At a 0.08 correlation, their price movements are largely independent. ENCC.TO charges 0.76%/yr vs 0.15%/yr for QQQX.TO.

Performance

ENCC.TO vs. QQQX.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 ETF (QQQX.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ENCC.TO achieves a 29.01% return, which is significantly higher than QQQX.TO's 22.91% 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%

QQQX.TO

1D
0.24%
1M
13.05%
YTD
22.91%
6M
19.10%
1Y
43.61%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)20252024
ENCC.TO
Global X Canadian Oil and Gas Equity Covered Call ETF		29.01%13.13%1.30%
QQQX.TO
Global X Nasdaq-100 Index ETF		22.91%14.55%20.80%

Correlation

The correlation between ENCC.TO and QQQX.TO is -0.19, 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

-0.19

Correlation (All Time)
Calculated using the full available price history since May 21, 2024

0.08

The correlation between ENCC.TO and QQQX.TO shifts across timeframes, from -0.19 (1 year) to 0.08 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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Global X Canadian Oil and Gas Equity Covered Call ETF

Global X Nasdaq-100 Index ETF

Often compared with ENCC.TO:
ENCC.TO vs. ENCL.TOENCC.TO vs. EMAX.TOENCC.TO vs. ZEOENCC.TO vs. HMAX.TOENCC.TO vs. XEQT.TOENCC.TO vs. XDIV.TOENCC.TO vs. OILY.TO
Often compared with QQQX.TO:
QQQX.TO vs. QQCC.TOQQQX.TO vs. ZNQ.TOQQQX.TO vs. QQCE.TOQQQX.TO vs. QQCI.TOQQQX.TO vs. QQCL.TOQQQX.TO vs. GLCC.TOQQQX.TO vs. JEPQ.TO

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ENCC.TO
ENCC.TO Risk / Return Rank: 8585
Overall Rank
ENCC.TO Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
ENCC.TO Sortino Ratio Rank: 8484
Sortino Ratio Rank
ENCC.TO Omega Ratio Rank: 8585
Omega Ratio Rank
ENCC.TO Calmar Ratio Rank: 8686
Calmar Ratio Rank
ENCC.TO Martin Ratio Rank: 8484
Martin Ratio Rank
QQQX.TO
QQQX.TO Risk / Return Rank: 7777
Overall Rank
QQQX.TO Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
QQQX.TO Sortino Ratio Rank: 8282
Sortino Ratio Rank
QQQX.TO Omega Ratio Rank: 8181
Omega Ratio Rank
QQQX.TO Calmar Ratio Rank: 7373
Calmar Ratio Rank
QQQX.TO Martin Ratio Rank: 6464
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ENCC.TO vs. QQQX.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 ETF (QQQX.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.TOQQQX.TODifference
Sharpe ratioReturn per unit of total volatility
2.98
2.74

+0.24

Sortino ratioReturn per unit of downside risk
3.81
3.63

+0.19

Omega ratioGain probability vs. loss probability

1.53

1.48

+0.05

Calmar ratioReturn relative to maximum drawdown

4.93

3.60

+1.33

Martin ratioReturn relative to average drawdown

17.54

11.56

+5.98

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current ENCC.TO Sharpe Ratio is 2.98, which is comparable to the QQQX.TO Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of ENCC.TO and QQQX.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.

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Sharpe Ratios by Period

ENCC.TOQQQX.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.98

2.74

+0.24

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

1.44

-1.44

Drawdowns

ENCC.TO vs. QQQX.TO - Drawdown Comparison

The maximum ENCC.TO drawdown since its inception was -89.91%, which is greater than QQQX.TO's maximum drawdown of -22.62%. Use the drawdown chart below to compare losses from any high point for ENCC.TO and QQQX.TO.

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Drawdown Indicators

ENCC.TOQQQX.TODifference

Max Drawdown

Largest peak-to-trough decline

-89.91%

-22.62%

-67.29%

Max Drawdown (1Y)

Largest decline over 1 year

-8.48%

-12.18%

+3.70%

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 Drawdown

Current decline from peak

-1.99%

0.00%

-1.99%

Average Drawdown

Average peak-to-trough decline

-39.82%

-3.96%

-35.86%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.38%

3.78%

-1.40%

Volatility

ENCC.TO vs. QQQX.TO - Volatility Comparison

Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.TO) has a higher volatility of 5.66% compared to Global X Nasdaq-100 Index ETF (QQQX.TO) at 4.73%. This indicates that ENCC.TO's price experiences larger fluctuations and is considered to be riskier than QQQX.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.TOQQQX.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.66%

4.73%

+0.93%

Volatility (6M)

Calculated over the trailing 6-month period

12.36%

11.94%

+0.42%

Volatility (1Y)

Calculated over the trailing 1-year period

14.08%

16.02%

-1.94%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.03%

20.74%

+2.29%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

29.05%

20.74%

+8.31%

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

ENCC.TO has a 0.76% expense ratio, which is higher than QQQX.TO's 0.15% expense ratio.

Dividends

ENCC.TO vs. QQQX.TO - Dividend Comparison

ENCC.TO's dividend yield for the trailing twelve months is around 11.09%, more than QQQX.TO's 0.29% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
QQQX.TO
Global X Nasdaq-100 Index ETF		0.29%0.35%0.14%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

ENCC.TO and QQQX.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.

On fees, QQQX.TO is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

QQQX.TO is cheaper with a 0.15% expense ratio, compared with 0.76% for ENCC.TO.

ENCC.TO is categorized as Derivative Income, while QQQX.TO is Nasdaq-100. Their fees differ too: 0.76% for ENCC.TO and 0.15% for QQQX.TO.

Portfolio Optimizer

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