FIE.TO vs. BKCL.TO
FIE.TO (iShares Canadian Financial Monthly Income ETF) and BKCL.TO (Global X Enhanced Equal Weight Canadian Banks Covered Call ETF) are both Financials Equities funds. Both are actively managed. Over the past year, FIE.TO returned 32.60% vs 63.55% for BKCL.TO. Their correlation of 0.85 suggests significant overlap in exposure. FIE.TO charges 0.74%/yr vs 1.68%/yr for BKCL.TO.
Performance
FIE.TO vs. BKCL.TO - Performance Comparison
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Returns By Period
In the year-to-date period, FIE.TO achieves a 14.56% return, which is significantly lower than BKCL.TO's 26.81% return.
FIE.TO
- 1D
- 0.09%
- 1M
- 4.86%
- YTD
- 14.56%
- 6M
- 11.23%
- 1Y
- 32.60%
- 3Y*
- 26.44%
- 5Y*
- 13.03%
- 10Y*
- 12.31%
BKCL.TO
- 1D
- 0.40%
- 1M
- 6.97%
- YTD
- 26.81%
- 6M
- 26.78%
- 1Y
- 63.55%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FIE.TO vs. BKCL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FIE.TO iShares Canadian Financial Monthly Income ETF | 14.56% | 24.36% | 27.62% | 8.00% |
BKCL.TO Global X Enhanced Equal Weight Canadian Banks Covered Call ETF | 26.81% | 34.78% | 20.06% | 5.22% |
Correlation
The correlation between FIE.TO and BKCL.TO is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Jul 6, 2023 | 0.85 |
The correlation between FIE.TO and BKCL.TO has been stable across timeframes, ranging from 0.85 to 0.85 - a consistent structural relationship.
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Return for Risk
FIE.TO vs. BKCL.TO — Risk / Return Rank
FIE.TO
BKCL.TO
FIE.TO vs. BKCL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Canadian Financial Monthly Income ETF (FIE.TO) and Global X Enhanced Equal Weight Canadian Banks Covered Call ETF (BKCL.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.
| FIE.TO | BKCL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.38 | ||
| Sortino ratioReturn per unit of downside risk | -1.82 | ||
| Omega ratioGain probability vs. loss probability | 1.71 | 1.95 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 4.55 | 6.98 | -2.43 |
| Martin ratioReturn relative to average drawdown | 14.80 | 31.98 | -17.17 |
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Drawdowns
FIE.TO vs. BKCL.TO - Drawdown Comparison
The maximum FIE.TO drawdown since its inception was -42.24%, which is greater than BKCL.TO's maximum drawdown of -16.58%. Use the drawdown chart below to compare losses from any high point for FIE.TO and BKCL.TO.
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Drawdown Indicators
| FIE.TO | BKCL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.24% | -16.58% | -25.66% |
Max Drawdown (1Y)Largest decline over 1 year | -7.19% | -9.15% | +1.96% |
Max Drawdown (3Y)Largest decline over 3 years | -10.70% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -22.93% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -42.24% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -4.88% | -2.62% | -2.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.21% | 1.99% | +0.22% |
Volatility
FIE.TO vs. BKCL.TO - Volatility Comparison
The current volatility for iShares Canadian Financial Monthly Income ETF (FIE.TO) is 2.54%, while Global X Enhanced Equal Weight Canadian Banks Covered Call ETF (BKCL.TO) has a volatility of 3.68%. This indicates that FIE.TO experiences smaller price fluctuations and is considered to be less risky than BKCL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FIE.TO | BKCL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.54% | 3.68% | -1.14% |
Volatility (6M)Calculated over the trailing 6-month period | 7.83% | 11.25% | -3.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.02% | 12.75% | -3.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.55% | 13.10% | -2.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.06% | 13.10% | +0.96% |
FIE.TO vs. BKCL.TO - Expense Ratio Comparison
FIE.TO has a 0.74% expense ratio, which is lower than BKCL.TO's 1.68% expense ratio.
Dividends
FIE.TO vs. BKCL.TO - Dividend Comparison
FIE.TO's dividend yield for the trailing twelve months is around 4.34%, less than BKCL.TO's 10.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BKCL.TO Global X Enhanced Equal Weight Canadian Banks Covered Call ETF | 10.63% | 12.60% | 15.02% | 7.91% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FIE.TO iShares Canadian Financial Monthly Income ETF | 4.34% | 4.94% | 5.83% | 6.98% | 7.31% | 5.92% | 7.10% | 6.65% | 7.38% | 6.28% | 6.59% | 7.43% |
Frequently Asked Questions
FIE.TO and BKCL.TO have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FIE.TO is cheaper at 0.74% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FIE.TO is cheaper with a 0.74% expense ratio, compared with 1.68% for BKCL.TO.
They also come from different issuers: iShares and Global X. Their fees differ too: 0.74% for FIE.TO and 1.68% for BKCL.TO.
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