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ENCL.TO vs. CIF.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ENCL.TO vs. CIF.TO

Last updated Jun 24, 2026

ENCL.TO (Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD) and CIF.TO (iShares Global Infrastructure Index ETF) are both Energy Equities funds. ENCL.TO is actively managed, while CIF.TO is passively managed. Over the past year, ENCL.TO returned 43.18% vs 37.55% for CIF.TO. At a 0.36 correlation, their price movements are largely independent. ENCL.TO charges 1.86%/yr vs 0.72%/yr for CIF.TO.

Performance

ENCL.TO vs. CIF.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD (ENCL.TO) and iShares Global Infrastructure Index ETF (CIF.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, ENCL.TO achieves a 30.80% return, which is significantly higher than CIF.TO's 28.46% return.

ENCL.TO

1D
1.40%
1M
-5.96%
YTD
30.80%
6M
32.16%
1Y
43.18%
3Y*
—
5Y*
—
10Y*
—

CIF.TO

1D
-0.38%
1M
4.41%
YTD
28.46%
6M
21.72%
1Y
37.55%
3Y*
27.25%
5Y*
19.05%
10Y*
13.60%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ENCL.TO vs. CIF.TO - Yearly Performance Comparison

2026 (YTD)202520242023
ENCL.TO
Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD		30.80%14.97%20.32%-11.68%
CIF.TO
iShares Global Infrastructure Index ETF		28.46%14.57%25.83%8.77%

Correlation

The correlation between ENCL.TO and CIF.TO is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.16

Correlation (All Time)
Calculated using the full available price history since Oct 11, 2023

0.36

The correlation between ENCL.TO and CIF.TO shifts across timeframes, from 0.16 (1 year) to 0.36 (all time), reflecting how their relationship changes across market environments.

ENCL.TO vs. CIF.TO - Sectors Allocation Comparison

Sectors
ENCL.TO
CIF.TO

Energy

100.0%
19.8%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

0.5%

Consumer Defensive

-

-

Financial Services

-

-

Healthcare

-

-

Industrials

-

34.6%

Real Estate

-

-

Technology

-

0.7%

Utilities

-

44.9%

Energy

ENCL.TO
100.0%
CIF.TO
19.8%

Basic Materials

ENCL.TO

-

CIF.TO

-

Communication Services

ENCL.TO

-

CIF.TO

-

Consumer Cyclical

ENCL.TO

-

CIF.TO
0.5%

Consumer Defensive

ENCL.TO

-

CIF.TO

-

Financial Services

ENCL.TO

-

CIF.TO

-

Healthcare

ENCL.TO

-

CIF.TO

-

Industrials

ENCL.TO

-

CIF.TO
34.6%

Real Estate

ENCL.TO

-

CIF.TO

-

Technology

ENCL.TO

-

CIF.TO
0.7%

Utilities

ENCL.TO

-

CIF.TO
44.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD

iShares Global Infrastructure Index ETF

Often compared with ENCL.TO:
ENCL.TO vs. ENCC.TOENCL.TO vs. UTES.TOENCL.TO vs. XEG.TOENCL.TO vs. UMAX.TOENCL.TO vs. OILY.TOENCL.TO vs. BANK.TOENCL.TO vs. HHIS.TO
Often compared with CIF.TO:
CIF.TO vs. VFV.TOCIF.TO vs. MLPP.LCIF.TO vs. ZQQ.TOCIF.TO vs. CWW.TOCIF.TO vs. ZGI.TOCIF.TO vs. VGTCIF.TO vs. XDIV.TO

Return for Risk

ENCL.TO vs. CIF.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ENCL.TO
ENCL.TO Risk / Return Rank: 7676
Overall Rank
ENCL.TO Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
ENCL.TO Sortino Ratio Rank: 7070
Sortino Ratio Rank
ENCL.TO Omega Ratio Rank: 7373
Omega Ratio Rank
ENCL.TO Calmar Ratio Rank: 8181
Calmar Ratio Rank
ENCL.TO Martin Ratio Rank: 7575
Martin Ratio Rank
CIF.TO
CIF.TO Risk / Return Rank: 7979
Overall Rank
CIF.TO Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
CIF.TO Sortino Ratio Rank: 7777
Sortino Ratio Rank
CIF.TO Omega Ratio Rank: 7979
Omega Ratio Rank
CIF.TO Calmar Ratio Rank: 8080
Calmar Ratio Rank
CIF.TO Martin Ratio Rank: 7878
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.

ENCL.TO vs. CIF.TO - 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 iShares Global Infrastructure Index ETF (CIF.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.

ENCL.TOCIF.TODifference
Sharpe ratioReturn per unit of total volatility
2.38
2.42

-0.04

Sortino ratioReturn per unit of downside risk
3.00
3.23

-0.22

Omega ratioGain probability vs. loss probability

1.41

1.44

-0.03

Calmar ratioReturn relative to maximum drawdown

4.03

3.97

+0.06

Martin ratioReturn relative to average drawdown

13.52

14.20

-0.68

ENCL.TO vs. CIF.TO - Sharpe Ratio Comparison

The current ENCL.TO Sharpe Ratio is 2.38, which is comparable to the CIF.TO Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of ENCL.TO and CIF.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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Drawdowns

ENCL.TO vs. CIF.TO - Drawdown Comparison

The maximum ENCL.TO drawdown since its inception was -21.05%, smaller than the maximum CIF.TO drawdown of -45.41%. Use the drawdown chart below to compare losses from any high point for ENCL.TO and CIF.TO.

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Drawdown Indicators

ENCL.TOCIF.TODifference

Max Drawdown

Largest peak-to-trough decline

-21.05%

-45.41%

+24.36%

Max Drawdown (1Y)

Largest decline over 1 year

-10.75%

-9.49%

-1.26%

Max Drawdown (3Y)

Largest decline over 3 years

—

-20.33%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-20.33%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-45.41%

—

Current Drawdown

Current decline from peak

-6.66%

-0.38%

-6.28%

Average Drawdown

Average peak-to-trough decline

-4.81%

-9.74%

+4.93%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.21%

2.65%

+0.56%

Volatility

ENCL.TO vs. CIF.TO - Volatility Comparison

Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD (ENCL.TO) has a higher volatility of 6.80% compared to iShares Global Infrastructure Index ETF (CIF.TO) at 4.77%. This indicates that ENCL.TO's price experiences larger fluctuations and is considered to be riskier than CIF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ENCL.TOCIF.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.80%

4.77%

+2.03%

Volatility (6M)

Calculated over the trailing 6-month period

15.64%

12.80%

+2.84%

Volatility (1Y)

Calculated over the trailing 1-year period

18.36%

15.62%

+2.74%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.89%

15.16%

+5.73%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.89%

25.98%

-5.09%

ENCL.TO vs. CIF.TO - Expense Ratio Comparison

ENCL.TO has a 1.86% expense ratio, which is higher than CIF.TO's 0.72% expense ratio.

Dividends

ENCL.TO vs. CIF.TO - Dividend Comparison

ENCL.TO's dividend yield for the trailing twelve months is around 13.94%, more than CIF.TO's 1.77% yield.

PositionTTM20252024202320222021202020192018201720162015
CIF.TO
iShares Global Infrastructure Index ETF		1.77%2.14%3.13%2.63%2.83%2.55%2.37%2.11%2.82%2.64%2.09%2.81%
ENCL.TO
Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD		13.94%17.14%18.56%4.68%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

ENCL.TO and CIF.TO have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, CIF.TO is cheaper at 0.72% per year. The better choice depends on whether you care most about return, fees, risk, or income.

CIF.TO is cheaper with a 0.72% expense ratio, compared with 1.86% for ENCL.TO.

They also come from different issuers: Global X and iShares. Their fees differ too: 1.86% for ENCL.TO and 0.72% for CIF.TO.

Portfolio Optimizer

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