ENCC.TO vs. TQQQ.TO
ENCC.TO (Global X Canadian Oil and Gas Equity Covered Call ETF) and TQQQ.TO (BetaPro 3x Nasdaq-100 Daily Leveraged Bull Alternative ETF) are both exchange-traded funds - ENCC.TO is a Derivative Income fund actively managed by Global X, while TQQQ.TO is a Nasdaq-100 fund tracking the Nasdaq-100 Index. ENCC.TO is actively managed, while TQQQ.TO is passively managed. Over the past year, ENCC.TO returned 34.49% vs 93.21% for TQQQ.TO. At a correlation of -0.19, they often move in opposite directions.
Performance
ENCC.TO vs. TQQQ.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ENCC.TO achieves a 24.43% return, which is significantly lower than TQQQ.TO's 38.31% return.
ENCC.TO
- 1D
- 0.64%
- 1M
- -4.83%
- YTD
- 24.43%
- 6M
- 25.49%
- 1Y
- 34.49%
- 3Y*
- 22.40%
- 5Y*
- 23.41%
- 10Y*
- 8.31%
TQQQ.TO
- 1D
- -10.09%
- 1M
- -4.73%
- YTD
- 38.31%
- 6M
- 32.51%
- 1Y
- 93.21%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ENCC.TO vs. TQQQ.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ENCC.TO Global X Canadian Oil and Gas Equity Covered Call ETF | 24.43% | 7.17% |
TQQQ.TO BetaPro 3x Nasdaq-100 Daily Leveraged Bull Alternative ETF | 38.31% | 38.56% |
Correlation
The correlation between ENCC.TO and TQQQ.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 Jun 17, 2025 | -0.19 |
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Return for Risk
ENCC.TO vs. TQQQ.TO — Risk / Return Rank
ENCC.TO
TQQQ.TO
ENCC.TO vs. TQQQ.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 BetaPro 3x Nasdaq-100 Daily Leveraged Bull Alternative ETF (TQQQ.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 | TQQQ.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.63 | ||
| Sortino ratioReturn per unit of downside risk | +0.95 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.29 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 4.09 | 2.46 | +1.63 |
| Martin ratioReturn relative to average drawdown | 13.56 | 7.67 | +5.90 |
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Drawdowns
ENCC.TO vs. TQQQ.TO - Drawdown Comparison
The maximum ENCC.TO drawdown since its inception was -93.29%, which is greater than TQQQ.TO's maximum drawdown of -38.15%. Use the drawdown chart below to compare losses from any high point for ENCC.TO and TQQQ.TO.
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Drawdown Indicators
| ENCC.TO | TQQQ.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.29% | -38.15% | -55.14% |
Max Drawdown (1Y)Largest decline over 1 year | -8.48% | -38.15% | +29.67% |
Max Drawdown (3Y)Largest decline over 3 years | -16.67% | — | — |
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 | -28.36% | -14.99% | -13.37% |
Average DrawdownAverage peak-to-trough decline | -55.98% | -8.56% | -47.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.56% | 12.20% | -9.64% |
Volatility
ENCC.TO vs. TQQQ.TO - Volatility Comparison
The current volatility for Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.TO) is 5.30%, while BetaPro 3x Nasdaq-100 Daily Leveraged Bull Alternative ETF (TQQQ.TO) has a volatility of 27.08%. This indicates that ENCC.TO experiences smaller price fluctuations and is considered to be less risky than TQQQ.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 | TQQQ.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.30% | 27.08% | -21.78% |
Volatility (6M)Calculated over the trailing 6-month period | 12.33% | 43.38% | -31.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.53% | 53.25% | -38.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.97% | 53.03% | -30.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.02% | 53.03% | -24.01% |
Dividends
ENCC.TO vs. TQQQ.TO - Dividend Comparison
ENCC.TO's dividend yield for the trailing twelve months is around 11.50%, while TQQQ.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 | 11.50% | 13.62% | 14.58% | 14.87% | 12.55% | 4.23% | 5.10% | 6.11% | 8.37% | 6.93% | 4.34% | 3.03% |
TQQQ.TO BetaPro 3x Nasdaq-100 Daily Leveraged Bull Alternative 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
ENCC.TO and TQQQ.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.
ENCC.TO is categorized as Derivative Income, while TQQQ.TO is Nasdaq-100.
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