ENCL.TO vs. HBIX.NEO
ENCL.TO (Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD) and HBIX.NEO (Harvest Bitcoin Enhanced Income ETF) are both exchange-traded funds - ENCL.TO is a Energy Equities fund actively managed by Global X, while HBIX.NEO is a Leveraged Cryptocurrency fund actively managed by Harvest. Both are actively managed. Over the past year, ENCL.TO returned 46.09% vs -42.38% for HBIX.NEO. At a 0.07 correlation, their price movements are largely independent. ENCL.TO charges 1.86%/yr vs 0.65%/yr for HBIX.NEO.
Performance
ENCL.TO vs. HBIX.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 HBIX.NEO's -30.77% return.
ENCL.TO
- 1D
- -0.30%
- 1M
- -1.63%
- YTD
- 35.36%
- 6M
- 33.47%
- 1Y
- 46.09%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HBIX.NEO
- 1D
- 3.78%
- 1M
- -21.97%
- YTD
- -30.77%
- 6M
- -32.37%
- 1Y
- -42.38%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ENCL.TO vs. HBIX.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% |
HBIX.NEO Harvest Bitcoin Enhanced Income ETF | -30.77% | -9.56% |
Correlation
The correlation between ENCL.TO and HBIX.NEO is 0.06, 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 | 0.06 |
Correlation (All Time) Calculated using the full available price history since May 5, 2025 | 0.07 |
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Return for Risk
ENCL.TO vs. HBIX.NEO — Risk / Return Rank
ENCL.TO
HBIX.NEO
ENCL.TO vs. HBIX.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 Harvest Bitcoin Enhanced Income ETF (HBIX.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 | HBIX.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.51 | ||
| Sortino ratioReturn per unit of downside risk | +4.47 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 0.87 | +0.59 |
| Calmar ratioReturn relative to maximum drawdown | 4.49 | -0.77 | +5.25 |
| Martin ratioReturn relative to average drawdown | 15.78 | -1.33 | +17.11 |
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Drawdowns
ENCL.TO vs. HBIX.NEO - Drawdown Comparison
The maximum ENCL.TO drawdown since its inception was -21.05%, smaller than the maximum HBIX.NEO drawdown of -57.09%. Use the drawdown chart below to compare losses from any high point for ENCL.TO and HBIX.NEO.
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Drawdown Indicators
| ENCL.TO | HBIX.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.05% | -57.09% | +36.04% |
Max Drawdown (1Y)Largest decline over 1 year | -10.75% | -57.09% | +46.34% |
Current DrawdownCurrent decline from peak | -3.41% | -54.15% | +50.74% |
Average DrawdownAverage peak-to-trough decline | -4.78% | -24.75% | +19.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.05% | 32.88% | -29.83% |
Volatility
ENCL.TO vs. HBIX.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 Harvest Bitcoin Enhanced Income ETF (HBIX.NEO) has a volatility of 14.38%. This indicates that ENCL.TO experiences smaller price fluctuations and is considered to be less risky than HBIX.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 | HBIX.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.14% | 14.38% | -7.24% |
Volatility (6M)Calculated over the trailing 6-month period | 16.02% | 41.42% | -25.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.05% | 52.20% | -34.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.88% | 51.19% | -30.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.88% | 51.19% | -30.31% |
ENCL.TO vs. HBIX.NEO - Expense Ratio Comparison
ENCL.TO has a 1.86% expense ratio, which is higher than HBIX.NEO's 0.65% expense ratio.
Dividends
ENCL.TO vs. HBIX.NEO - Dividend Comparison
ENCL.TO's dividend yield for the trailing twelve months is around 13.48%, less than HBIX.NEO's 45.75% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
ENCL.TO Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD | 13.48% | 17.14% | 18.56% | 4.68% |
HBIX.NEO Harvest Bitcoin Enhanced Income ETF | 45.75% | 20.21% | 0.00% | 0.00% |
Frequently Asked Questions
ENCL.TO and HBIX.NEO 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, HBIX.NEO is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HBIX.NEO is cheaper with a 0.65% expense ratio, compared with 1.86% for ENCL.TO.
ENCL.TO is categorized as Energy Equities, while HBIX.NEO is Leveraged Cryptocurrency. They also come from different issuers: Global X and Harvest. Their fees differ too: 1.86% for ENCL.TO and 0.65% for HBIX.NEO.
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