ENHNX vs. ECF
ENHNX (Cullen Enhanced Equity Income Fund) is Derivative Income fund managed by Cullen Funds Trust, while ECF (Ellsworth Growth and Income Fund Ltd.) is a stock. Over the past 10 years, ENHNX returned 7.16%/yr vs 13.36%/yr for ECF. At a 0.43 correlation, their price movements are largely independent.
Performance
ENHNX vs. ECF - Performance Comparison
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Returns By Period
In the year-to-date period, ENHNX achieves a 7.69% return, which is significantly lower than ECF's 17.43% return. Over the past 10 years, ENHNX has underperformed ECF with an annualized return of 7.16%, while ECF has yielded a comparatively higher 13.36% annualized return.
ENHNX
- 1D
- 0.45%
- 1M
- -0.99%
- YTD
- 7.69%
- 6M
- 7.48%
- 1Y
- 11.96%
- 3Y*
- 8.19%
- 5Y*
- 4.87%
- 10Y*
- 7.16%
ECF
- 1D
- -0.68%
- 1M
- 2.90%
- YTD
- 17.43%
- 6M
- 15.54%
- 1Y
- 44.30%
- 3Y*
- 25.02%
- 5Y*
- 5.31%
- 10Y*
- 13.36%
ENHNX vs. ECF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ENHNX Cullen Enhanced Equity Income Fund | 7.69% | 6.20% | 6.89% | 0.99% | -1.98% | 21.67% | 1.52% | 18.16% | -5.10% | 10.69% |
ECF Ellsworth Growth and Income Fund Ltd. | 17.43% | 30.03% | 27.48% | 8.01% | -31.63% | -0.79% | 31.72% | 47.17% | -3.70% | 19.51% |
Correlation
The correlation between ENHNX and ECF is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.43 |
Over the past year, the correlation between ENHNX and ECF has dropped to 0.17 - well below their long-term average of 0.43, suggesting their price drivers have been diverging.
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Return for Risk
ENHNX vs. ECF — Risk / Return Rank
ENHNX
ECF
ENHNX vs. ECF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cullen Enhanced Equity Income Fund (ENHNX) and Ellsworth Growth and Income Fund Ltd. (ECF). 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.
| ENHNX | ECF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.98 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.38 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | 3.38 | -1.37 |
| Martin ratioReturn relative to average drawdown | 5.00 | 10.91 | -5.92 |
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Drawdowns
ENHNX vs. ECF - Drawdown Comparison
The maximum ENHNX drawdown since its inception was -35.59%, smaller than the maximum ECF drawdown of -49.86%. Use the drawdown chart below to compare losses from any high point for ENHNX and ECF.
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Drawdown Indicators
| ENHNX | ECF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.59% | -49.86% | +14.27% |
Max Drawdown (1Y)Largest decline over 1 year | -6.34% | -13.16% | +6.82% |
Max Drawdown (3Y)Largest decline over 3 years | -13.60% | -16.83% | +3.23% |
Max Drawdown (5Y)Largest decline over 5 years | -18.30% | -42.58% | +24.28% |
Max Drawdown (10Y)Largest decline over 10 years | -35.59% | -47.28% | +11.69% |
Current DrawdownCurrent decline from peak | -2.21% | -2.37% | +0.16% |
Average DrawdownAverage peak-to-trough decline | -4.05% | -10.14% | +6.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.55% | 4.07% | -1.52% |
Volatility
ENHNX vs. ECF - Volatility Comparison
The current volatility for Cullen Enhanced Equity Income Fund (ENHNX) is 3.17%, while Ellsworth Growth and Income Fund Ltd. (ECF) has a volatility of 7.26%. This indicates that ENHNX experiences smaller price fluctuations and is considered to be less risky than ECF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ENHNX | ECF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.17% | 7.26% | -4.09% |
Volatility (6M)Calculated over the trailing 6-month period | 7.09% | 15.39% | -8.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.14% | 19.43% | -9.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.81% | 17.93% | -5.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.49% | 21.86% | -6.37% |
Dividends
ENHNX vs. ECF - Dividend Comparison
ENHNX's dividend yield for the trailing twelve months is around 5.72%, less than ECF's 7.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ECF Ellsworth Growth and Income Fund Ltd. | 7.18% | 7.39% | 5.47% | 6.44% | 6.52% | 12.14% | 9.59% | 6.63% | 5.82% | 4.68% | 5.32% | 10.22% |
ENHNX Cullen Enhanced Equity Income Fund | 5.72% | 4.38% | 5.99% | 6.22% | 3.82% | 7.77% | 5.86% | 5.69% | 6.45% | 6.82% | 7.67% | 0.00% |
Frequently Asked Questions
ENHNX and ECF have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ECF has higher volatility (7.26%) compared to ENHNX (3.17%). In terms of maximum drawdown, ENHNX dropped -35.59% vs ECF's -49.86%.
ECF currently has the higher Sharpe Ratio (2.29 vs 1.26), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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