EQLI.TO vs. ENCL.TO

Last updated Aug 4, 2026

EQLI.TO (Invesco S&P 500 Equal Weight Income Advantage ETF) and ENCL.TO (Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD) are both exchange-traded funds - EQLI.TO is a S&P 500 fund tracking the S&P 500 Equal Weight Index, while ENCL.TO is a Energy Equities fund actively managed by Global X. EQLI.TO is passively managed, while ENCL.TO is actively managed. Over the past year, EQLI.TO returned 21.25% vs 52.77% for ENCL.TO. Their 0.11 correlation means their historical movements had little consistent relationship. EQLI.TO charges 0.29%/yr vs 1.86%/yr for ENCL.TO.

Performance

EQLI.TO vs. ENCL.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Invesco S&P 500 Equal Weight Income Advantage ETF (EQLI.TO) and Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD (ENCL.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EQLI.TO achieves a 14.06% return, which is significantly lower than ENCL.TO's 39.90% return.

EQLI.TO

• 1D: 0.31%
• 1M: -1.50%
• 6M: 11.40%
• YTD: 14.06%
• 1Y: 21.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.51%

ENCL.TO

• 1D: -0.34%
• 1M: 10.14%
• 6M: 31.48%
• YTD: 39.90%
• 1Y: 52.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 21.07%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ENCL.TO Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD	CA$1.83M	CA$1.55M	CA$1.69M
EQLI.TO Invesco S&P 500 Equal Weight Income Advantage ETF	CA$420.63K	CA$385.92K	CA$348.94K

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

	2026 (YTD)	2025	2024
EQLI.TO Invesco S&P 500 Equal Weight Income Advantage ETF	14.06%	6.41%	7.17%
ENCL.TO Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD	39.90%	14.97%	0.08%

Correlation

The correlation between EQLI.TO and ENCL.TO is -0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.04
Correlation (All Time) Calculated using the full available price history since Aug 21, 2024	0.11

The correlation between EQLI.TO and ENCL.TO shifts across timeframes, from -0.04 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.

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

Sectors	EQLI.TO	ENCL.TO
Technology	17.3%	-
Industrials	15.7%	-
Financial Services	13.9%	-
Healthcare	12.0%	-
Consumer Cyclical	10.9%	-
Consumer Defensive	6.3%	-
Utilities	6.3%	-
Real Estate	5.9%	-
Communication Services	4.0%	-
Basic Materials	3.9%	-
Energy	3.8%	100.0%

Return for Risk

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

Compare historical risk-adjusted metric ranks over the past 12 months.

EQLI.TO

EQLI.TO Risk / Return Rank: 86
EQLI.TO Sharpe Ratio Rank: 86
EQLI.TO Sortino Ratio Rank: 88
EQLI.TO Omega Ratio Rank: 84
EQLI.TO Calmar Ratio Rank: 87
EQLI.TO Martin Ratio Rank: 87

ENCL.TO

ENCL.TO Risk / Return Rank: 92
ENCL.TO Sharpe Ratio Rank: 94
ENCL.TO Sortino Ratio Rank: 91
ENCL.TO Omega Ratio Rank: 92
ENCL.TO Calmar Ratio Rank: 94
ENCL.TO Martin Ratio Rank: 89

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EQLI.TO vs. ENCL.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Equal Weight Income Advantage ETF (EQLI.TO) and Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD (ENCL.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.

	EQLI.TO	ENCL.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.14	2.68	-0.54
Sortino ratio: Return per unit of downside risk	3.10	3.35	-0.25
Omega ratio: Gain probability vs. loss probability	1.38	1.45	-0.08
Calmar ratio: Return relative to maximum drawdown	3.64	4.82	-1.18
Martin ratio: Return relative to average drawdown	13.55	13.96	-0.42

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

The current EQLI.TO Sharpe Ratio is 2.14, which is comparable to the ENCL.TO Sharpe Ratio of 2.68. The chart below compares the historical Sharpe Ratios of EQLI.TO and ENCL.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.

Drawdowns

EQLI.TO vs. ENCL.TO - Drawdown Comparison

The maximum EQLI.TO drawdown since its inception was -15.56%, smaller than the maximum ENCL.TO drawdown of -21.05%. Use the drawdown chart below to compare losses from any high point for EQLI.TO and ENCL.TO.

Drawdown Indicators

	EQLI.TO	ENCL.TO	Difference
Max Drawdown Largest peak-to-trough decline	-15.56%	-21.05%	+5.49%
Max Drawdown (1Y) Largest decline over 1 year	-5.47%	-10.75%	+5.28%
Current Drawdown Current decline from peak	-1.50%	-1.34%	-0.16%
Average Drawdown Average peak-to-trough decline	-2.32%	-4.81%	+2.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.47%	3.71%	-2.24%

Volatility

EQLI.TO vs. ENCL.TO - Volatility Comparison

The current volatility for Invesco S&P 500 Equal Weight Income Advantage ETF (EQLI.TO) is 2.95%, while Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD (ENCL.TO) has a volatility of 6.77%. This indicates that EQLI.TO experiences smaller price fluctuations and is considered to be less risky than ENCL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EQLI.TO	ENCL.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.95%	6.77%	-3.82%
Volatility (6M) Calculated over the trailing 6-month period	6.87%	16.03%	-9.16%
Volatility (1Y) Calculated over the trailing 1-year period	9.33%	19.39%	-10.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.90%	20.96%	-9.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.90%	20.96%	-9.06%

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

EQLI.TO has a 0.29% expense ratio, which is lower than ENCL.TO's 1.86% expense ratio.

Dividends

EQLI.TO vs. ENCL.TO - Dividend Comparison

EQLI.TO's dividend yield for the trailing twelve months is around 8.20%, less than ENCL.TO's 13.43% yield.

Position	TTM	2025	2024	2023
ENCL.TO Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD	13.43%	17.14%	18.56%	4.68%
EQLI.TO Invesco S&P 500 Equal Weight Income Advantage ETF	8.20%	8.74%	2.99%	0.00%

Frequently Asked Questions

Can I hold both EQLI.TO and ENCL.TO in my portfolio?

EQLI.TO and ENCL.TO have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EQLI.TO or ENCL.TO?

On fees, EQLI.TO is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EQLI.TO or ENCL.TO?

EQLI.TO is cheaper with a 0.29% expense ratio, compared with 1.86% for ENCL.TO.

What is the main difference between EQLI.TO and ENCL.TO?

EQLI.TO is categorized as S&P 500, while ENCL.TO is Energy Equities. They also come from different issuers: Invesco and Global X. Their fees differ too: 0.29% for EQLI.TO and 1.86% for ENCL.TO.