EQCL.TO vs. CBNK.TO
EQCL.TO (Global X Enhanced All-Equity Asset Allocation Covered Call ETF CAD) and CBNK.TO (Mulvihill Canadian Bank Enhanced Yield ETF) are both Derivative Income funds. Both are actively managed. Over the past year, EQCL.TO returned 31.62% vs 79.20% for CBNK.TO. A 0.55 correlation means they provide meaningful diversification when combined.
Performance
EQCL.TO vs. CBNK.TO - Performance Comparison
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Returns By Period
In the year-to-date period, EQCL.TO achieves a 12.75% return, which is significantly lower than CBNK.TO's 25.56% return.
EQCL.TO
- 1D
- -0.24%
- 1M
- 7.31%
- YTD
- 12.75%
- 6M
- 12.49%
- 1Y
- 31.62%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CBNK.TO
- 1D
- 0.42%
- 1M
- 7.74%
- YTD
- 25.56%
- 6M
- 32.17%
- 1Y
- 79.20%
- 3Y*
- 38.97%
- 5Y*
- —
- 10Y*
- —
EQCL.TO vs. CBNK.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
EQCL.TO Global X Enhanced All-Equity Asset Allocation Covered Call ETF CAD | 12.75% | 16.95% | 24.04% | 3.94% |
CBNK.TO Mulvihill Canadian Bank Enhanced Yield ETF | 25.56% | 51.67% | 27.42% | 15.99% |
Correlation
The correlation between EQCL.TO and CBNK.TO is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Oct 13, 2023 | 0.55 |
The correlation between EQCL.TO and CBNK.TO has been stable across timeframes, ranging from 0.51 to 0.55 - a consistent structural relationship.
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Return for Risk
EQCL.TO vs. CBNK.TO — Risk / Return Rank
EQCL.TO
CBNK.TO
EQCL.TO vs. CBNK.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Enhanced All-Equity Asset Allocation Covered Call ETF CAD (EQCL.TO) and Mulvihill Canadian Bank Enhanced Yield ETF (CBNK.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.
| EQCL.TO | CBNK.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.63 | ||
| Sortino ratioReturn per unit of downside risk | -3.26 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.87 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | 3.78 | 7.94 | -4.16 |
| Martin ratioReturn relative to average drawdown | 16.20 | 34.25 | -18.05 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EQCL.TO | CBNK.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.49 | 5.12 | -2.63 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.52 | 1.10 | +0.42 |
Drawdowns
EQCL.TO vs. CBNK.TO - Drawdown Comparison
The maximum EQCL.TO drawdown since its inception was -18.97%, smaller than the maximum CBNK.TO drawdown of -32.12%. Use the drawdown chart below to compare losses from any high point for EQCL.TO and CBNK.TO.
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Drawdown Indicators
| EQCL.TO | CBNK.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.97% | -32.12% | +13.15% |
Max Drawdown (1Y)Largest decline over 1 year | -8.40% | -10.03% | +1.63% |
Max Drawdown (3Y)Largest decline over 3 years | — | -17.92% | — |
Current DrawdownCurrent decline from peak | -0.34% | -2.29% | +1.95% |
Average DrawdownAverage peak-to-trough decline | -1.64% | -10.92% | +9.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.96% | 2.32% | -0.36% |
Volatility
EQCL.TO vs. CBNK.TO - Volatility Comparison
The current volatility for Global X Enhanced All-Equity Asset Allocation Covered Call ETF CAD (EQCL.TO) is 4.09%, while Mulvihill Canadian Bank Enhanced Yield ETF (CBNK.TO) has a volatility of 5.67%. This indicates that EQCL.TO experiences smaller price fluctuations and is considered to be less risky than CBNK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EQCL.TO | CBNK.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.09% | 5.67% | -1.58% |
Volatility (6M)Calculated over the trailing 6-month period | 10.70% | 13.29% | -2.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.75% | 15.55% | -2.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.03% | 17.55% | -2.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.03% | 17.55% | -2.52% |
Dividends
EQCL.TO vs. CBNK.TO - Dividend Comparison
EQCL.TO's dividend yield for the trailing twelve months is around 10.86%, more than CBNK.TO's 5.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CBNK.TO Mulvihill Canadian Bank Enhanced Yield ETF | 5.94% | 5.86% | 8.25% | 9.59% | 7.85% |
EQCL.TO Global X Enhanced All-Equity Asset Allocation Covered Call ETF CAD | 10.86% | 11.51% | 10.96% | 2.87% | 0.00% |
Frequently Asked Questions
EQCL.TO and CBNK.TO have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Global X and Mulvihill.
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