ENCL.TO vs. BCCL.NEO
ENCL.TO (Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD) and BCCL.NEO (Global X Enhanced Bitcoin Covered Call ETF) are both exchange-traded funds - ENCL.TO is a Energy Equities fund actively managed by Global X, while BCCL.NEO is a Derivative Income fund actively managed by Global X. Both are actively managed. Over the past year, ENCL.TO returned 46.09% vs -40.39% for BCCL.NEO. At a 0.03 correlation, their price movements are largely independent.
Performance
ENCL.TO vs. BCCL.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, ENCL.TO achieves a 35.36% return, which is significantly higher than BCCL.NEO's -29.24% return.
ENCL.TO
- 1D
- -0.30%
- 1M
- 0.13%
- YTD
- 35.36%
- 6M
- 33.47%
- 1Y
- 46.09%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BCCL.NEO
- 1D
- 3.95%
- 1M
- -23.48%
- YTD
- -29.24%
- 6M
- -31.76%
- 1Y
- -40.39%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ENCL.TO vs. BCCL.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ENCL.TO Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD | 35.36% | 18.88% |
BCCL.NEO Global X Enhanced Bitcoin Covered Call ETF | -29.24% | -6.82% |
Correlation
The correlation between ENCL.TO and BCCL.NEO is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since May 5, 2025 | 0.03 |
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Return for Risk
ENCL.TO vs. BCCL.NEO — Risk / Return Rank
ENCL.TO
BCCL.NEO
ENCL.TO vs. BCCL.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD (ENCL.TO) and Global X Enhanced Bitcoin Covered Call ETF (BCCL.NEO). 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.
| ENCL.TO | BCCL.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.61 | ||
| Sortino ratioReturn per unit of downside risk | +4.67 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 0.85 | +0.61 |
| Calmar ratioReturn relative to maximum drawdown | 4.49 | -0.76 | +5.24 |
| Martin ratioReturn relative to average drawdown | 15.78 | -1.34 | +17.12 |
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Drawdowns
ENCL.TO vs. BCCL.NEO - Drawdown Comparison
The maximum ENCL.TO drawdown since its inception was -21.05%, smaller than the maximum BCCL.NEO drawdown of -55.27%. Use the drawdown chart below to compare losses from any high point for ENCL.TO and BCCL.NEO.
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Drawdown Indicators
| ENCL.TO | BCCL.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.05% | -55.27% | +34.22% |
Max Drawdown (1Y)Largest decline over 1 year | -10.75% | -55.27% | +44.52% |
Current DrawdownCurrent decline from peak | -3.41% | -51.84% | +48.43% |
Average DrawdownAverage peak-to-trough decline | -4.78% | -23.09% | +18.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.05% | 31.07% | -28.02% |
Volatility
ENCL.TO vs. BCCL.NEO - Volatility Comparison
The current volatility for Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD (ENCL.TO) is 7.14%, while Global X Enhanced Bitcoin Covered Call ETF (BCCL.NEO) has a volatility of 15.04%. This indicates that ENCL.TO experiences smaller price fluctuations and is considered to be less risky than BCCL.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ENCL.TO | BCCL.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.14% | 15.04% | -7.90% |
Volatility (6M)Calculated over the trailing 6-month period | 16.02% | 33.17% | -17.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.05% | 44.72% | -26.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.88% | 44.26% | -23.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.88% | 44.26% | -23.38% |
Dividends
ENCL.TO vs. BCCL.NEO - Dividend Comparison
ENCL.TO's dividend yield for the trailing twelve months is around 13.48%, less than BCCL.NEO's 41.64% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BCCL.NEO Global X Enhanced Bitcoin Covered Call ETF | 39.89% | 16.02% | 0.00% | 0.00% |
ENCL.TO Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD | 13.48% | 17.14% | 18.56% | 4.68% |
Frequently Asked Questions
ENCL.TO and BCCL.NEO have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ENCL.TO is categorized as Energy Equities, while BCCL.NEO is Derivative Income.
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