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GLCC.TO vs. GOEX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GLCC.TO vs. GOEX

Last updated Jun 24, 2026

GLCC.TO (Global X Gold Producer Equity Covered Call ETF) and GOEX (Global X Gold Explorers ETF) are both exchange-traded funds - GLCC.TO is a Derivative Income fund actively managed by Global X, while GOEX is a Gold fund tracking the Solactive Global Gold Explorers & Developers Total Return. GLCC.TO is actively managed, while GOEX is passively managed. Over the past 10 years, GLCC.TO returned 13.14%/yr vs 13.08%/yr for GOEX. Their correlation of 0.80 suggests significant overlap in exposure. GLCC.TO charges 0.79%/yr vs 0.65%/yr for GOEX.

Performance

GLCC.TO vs. GOEX - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Gold Producer Equity Covered Call ETF (GLCC.TO) and Global X Gold Explorers ETF (GOEX). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

GLCC.TO is traded in CAD, while GOEX is traded in USD. To make them comparable, the GOEX values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, GLCC.TO achieves a -6.77% return, which is significantly higher than GOEX's -7.85% return. Both investments have delivered pretty close results over the past 10 years, with GLCC.TO having a 13.14% annualized return and GOEX not far behind at 13.08%.

GLCC.TO

1D
-3.96%
1M
-6.23%
YTD
-6.77%
6M
-10.89%
1Y
46.25%
3Y*
41.21%
5Y*
22.01%
10Y*
13.14%

GOEX

1D
-4.87%
1M
-4.53%
YTD
-7.85%
6M
-12.97%
1Y
61.91%
3Y*
50.38%
5Y*
22.95%
10Y*
13.08%
*Multi-year figures are annualized to reflect compound growth (CAGR)

GLCC.TO vs. GOEX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
GLCC.TO
Global X Gold Producer Equity Covered Call ETF		-6.77%137.43%20.18%6.19%-1.80%-9.38%15.00%38.71%-0.38%7.32%
GOEX
Global X Gold Explorers ETF		-7.85%166.74%29.49%-0.44%-9.22%-14.49%31.77%31.09%-7.68%4.98%

Correlation

The correlation between GLCC.TO and GOEX is 0.88, 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

0.88

Correlation (3Y)
Calculated over the trailing 3-year period

0.87

Correlation (5Y)
Calculated over the trailing 5-year period

0.86

Correlation (10Y)
Calculated over the trailing 10-year period

0.83

Correlation (All Time)
Calculated using the full available price history since Apr 14, 2011

0.80

The correlation between GLCC.TO and GOEX has been stable across timeframes, ranging from 0.80 to 0.88 - a consistent structural relationship.

GLCC.TO vs. GOEX - Sectors Allocation Comparison

Sectors
GLCC.TO
GOEX

Basic Materials

100.0%
100.0%

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

-

Healthcare

-

-

Industrials

-

0.1%

Real Estate

-

-

Technology

-

-

Utilities

-

-

Basic Materials

GLCC.TO
100.0%
GOEX
100.0%

Communication Services

GLCC.TO

-

GOEX

-

Consumer Cyclical

GLCC.TO

-

GOEX

-

Consumer Defensive

GLCC.TO

-

GOEX

-

Energy

GLCC.TO

-

GOEX

-

Financial Services

GLCC.TO

-

GOEX

-

Healthcare

GLCC.TO

-

GOEX

-

Industrials

GLCC.TO

-

GOEX
0.1%

Real Estate

GLCC.TO

-

GOEX

-

Technology

GLCC.TO

-

GOEX

-

Utilities

GLCC.TO

-

GOEX

-

Compare stocks, funds, or ETFs

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Global X Gold Producer Equity Covered Call ETF

Global X Gold Explorers ETF

Often compared with GLCC.TO:
GLCC.TO vs. AMAX.TOGLCC.TO vs. DXMO.TOGLCC.TO vs. IGLDGLCC.TO vs. GLDI.LGLCC.TO vs. BCCCGLCC.TO vs. WAF.AXGLCC.TO vs. 4GLD.DE
Often compared with GOEX:
GOEX vs. GLDGOEX vs. SILGOEX vs. RINGGOEX vs. XMEGOEX vs. COPXGOEX vs. URAGOEX vs. IAU

Return for Risk

GLCC.TO vs. GOEX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GLCC.TO
GLCC.TO Risk / Return Rank: 3030
Overall Rank
GLCC.TO Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
GLCC.TO Sortino Ratio Rank: 2929
Sortino Ratio Rank
GLCC.TO Omega Ratio Rank: 3232
Omega Ratio Rank
GLCC.TO Calmar Ratio Rank: 2929
Calmar Ratio Rank
GLCC.TO Martin Ratio Rank: 2929
Martin Ratio Rank
GOEX
GOEX Risk / Return Rank: 3131
Overall Rank
GOEX Sharpe Ratio Rank: 3232
Sharpe Ratio Rank
GOEX Sortino Ratio Rank: 3131
Sortino Ratio Rank
GOEX Omega Ratio Rank: 3333
Omega Ratio Rank
GOEX Calmar Ratio Rank: 3030
Calmar Ratio Rank
GOEX Martin Ratio Rank: 2929
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GLCC.TO vs. GOEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Gold Producer Equity Covered Call ETF (GLCC.TO) and Global X Gold Explorers ETF (GOEX). 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.

GLCC.TOGOEXDifference
Sharpe ratioReturn per unit of total volatility
1.06
1.21

-0.15

Sortino ratioReturn per unit of downside risk
1.50
1.66

-0.16

Omega ratioGain probability vs. loss probability

1.21

1.22

-0.02

Calmar ratioReturn relative to maximum drawdown

1.41

1.62

-0.21

Martin ratioReturn relative to average drawdown

3.78

4.26

-0.48

GLCC.TO vs. GOEX - Sharpe Ratio Comparison

The current GLCC.TO Sharpe Ratio is 1.06, which is comparable to the GOEX Sharpe Ratio of 1.21. The chart below compares the historical Sharpe Ratios of GLCC.TO and GOEX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

GLCC.TO vs. GOEX - Drawdown Comparison

The maximum GLCC.TO drawdown since its inception was -81.37%, smaller than the maximum GOEX drawdown of -85.69%. Use the drawdown chart below to compare losses from any high point for GLCC.TO and GOEX.

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Drawdown Indicators

GLCC.TOGOEXDifference

Max Drawdown

Largest peak-to-trough decline

-81.37%

-85.69%

+4.32%

Max Drawdown (1Y)

Largest decline over 1 year

-33.03%

-38.38%

+5.35%

Max Drawdown (3Y)

Largest decline over 3 years

-33.03%

-38.38%

+5.35%

Max Drawdown (5Y)

Largest decline over 5 years

-37.60%

-43.11%

+5.51%

Max Drawdown (10Y)

Largest decline over 10 years

-44.83%

-50.14%

+5.31%

Current Drawdown

Current decline from peak

-28.29%

-31.86%

+3.57%

Average Drawdown

Average peak-to-trough decline

-53.09%

-56.26%

+3.17%

Ulcer Index

Depth and duration of drawdowns from previous peaks

12.28%

14.61%

-2.33%

Volatility

GLCC.TO vs. GOEX - Volatility Comparison

The current volatility for Global X Gold Producer Equity Covered Call ETF (GLCC.TO) is 15.89%, while Global X Gold Explorers ETF (GOEX) has a volatility of 18.41%. This indicates that GLCC.TO experiences smaller price fluctuations and is considered to be less risky than GOEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

GLCC.TOGOEXDifference

Volatility (1M)

Calculated over the trailing 1-month period

15.89%

18.41%

-2.52%

Volatility (6M)

Calculated over the trailing 6-month period

36.66%

42.81%

-6.15%

Volatility (1Y)

Calculated over the trailing 1-year period

43.99%

51.54%

-7.55%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

32.49%

39.90%

-7.41%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

32.24%

40.49%

-8.25%

GLCC.TO vs. GOEX - Expense Ratio Comparison

GLCC.TO has a 0.79% expense ratio, which is higher than GOEX's 0.65% expense ratio.

Dividends

GLCC.TO vs. GOEX - Dividend Comparison

GLCC.TO's dividend yield for the trailing twelve months is around 9.28%, more than GOEX's 2.33% yield.

PositionTTM20252024202320222021202020192018201720162015
GLCC.TO
Global X Gold Producer Equity Covered Call ETF		9.28%6.01%10.30%11.16%10.08%6.31%6.47%4.58%5.62%7.08%8.75%2.32%
GOEX
Global X Gold Explorers ETF		2.33%2.08%2.46%0.05%1.04%2.35%2.62%1.60%0.00%0.00%38.91%11.70%

Frequently Asked Questions

GLCC.TO and GOEX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, GOEX is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

GOEX is cheaper with a 0.65% expense ratio, compared with 0.79% for GLCC.TO.

GLCC.TO is categorized as Derivative Income, while GOEX is Gold. Their fees differ too: 0.79% for GLCC.TO and 0.65% for GOEX.

Portfolio Optimizer

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