GLCC.TO vs. UTES.TO
GLCC.TO (Global X Gold Producer Equity Covered Call ETF) and UTES.TO (Evolve Canadian Utilities Enhanced Yield Index Fund ETF) are both Derivative Income funds. Both are actively managed. Over the past year, GLCC.TO returned 41.43% vs 20.00% for UTES.TO. At a 0.08 correlation, their price movements are largely independent. GLCC.TO charges 0.79%/yr vs 0.60%/yr for UTES.TO.
Performance
GLCC.TO vs. UTES.TO - Performance Comparison
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Returns By Period
In the year-to-date period, GLCC.TO achieves a -10.57% return, which is significantly lower than UTES.TO's 12.01% return.
GLCC.TO
- 1D
- 0.76%
- 1M
- -5.71%
- 6M
- -19.82%
- YTD
- -10.57%
- 1Y
- 41.43%
- 3Y*
- 36.35%
- 5Y*
- 20.11%
- 10Y*
- 11.77%
UTES.TO
- 1D
- -0.32%
- 1M
- -2.82%
- 6M
- 13.65%
- YTD
- 12.01%
- 1Y
- 20.00%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GLCC.TO vs. UTES.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GLCC.TO Global X Gold Producer Equity Covered Call ETF | -10.57% | 137.43% | -2.00% |
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund ETF | 12.01% | 18.66% | -4.15% |
Correlation
The correlation between GLCC.TO and UTES.TO is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Sep 4, 2024 | 0.08 |
The correlation between GLCC.TO and UTES.TO shifts across timeframes, from -0.05 (1 year) to 0.08 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GLCC.TO vs. UTES.TO — Risk / Return Rank
GLCC.TO
UTES.TO
GLCC.TO vs. UTES.TO - 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 Evolve Canadian Utilities Enhanced Yield Index Fund ETF (UTES.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.
| GLCC.TO | UTES.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.03 | ||
| Sortino ratioReturn per unit of downside risk | -1.44 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.35 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.26 | 3.14 | -1.88 |
| Martin ratioReturn relative to average drawdown | 2.94 | 9.21 | -6.27 |
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Drawdowns
GLCC.TO vs. UTES.TO - Drawdown Comparison
The maximum GLCC.TO drawdown since its inception was -81.37%, which is greater than UTES.TO's maximum drawdown of -10.19%. Use the drawdown chart below to compare losses from any high point for GLCC.TO and UTES.TO.
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Drawdown Indicators
| GLCC.TO | UTES.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.37% | -10.19% | -71.18% |
Max Drawdown (1Y)Largest decline over 1 year | -33.03% | -6.39% | -26.64% |
Max Drawdown (3Y)Largest decline over 3 years | -33.03% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -37.60% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -44.83% | — | — |
Current DrawdownCurrent decline from peak | -31.21% | -3.11% | -28.10% |
Average DrawdownAverage peak-to-trough decline | -53.01% | -2.57% | -50.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.12% | 2.18% | +11.94% |
Volatility
GLCC.TO vs. UTES.TO - Volatility Comparison
Global X Gold Producer Equity Covered Call ETF (GLCC.TO) has a higher volatility of 12.65% compared to Evolve Canadian Utilities Enhanced Yield Index Fund ETF (UTES.TO) at 4.69%. This indicates that GLCC.TO's price experiences larger fluctuations and is considered to be riskier than UTES.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLCC.TO | UTES.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.65% | 4.69% | +7.96% |
Volatility (6M)Calculated over the trailing 6-month period | 36.98% | 8.28% | +28.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.40% | 10.24% | +34.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.68% | 11.30% | +21.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.33% | 11.30% | +21.03% |
GLCC.TO vs. UTES.TO - Expense Ratio Comparison
GLCC.TO has a 0.79% expense ratio, which is higher than UTES.TO's 0.60% expense ratio.
Dividends
GLCC.TO vs. UTES.TO - Dividend Comparison
GLCC.TO's dividend yield for the trailing twelve months is around 10.34%, less than UTES.TO's 17.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLCC.TO Global X Gold Producer Equity Covered Call ETF | 10.34% | 6.01% | 10.30% | 11.16% | 10.08% | 6.31% | 6.47% | 4.58% | 5.62% | 7.08% | 8.75% | 2.32% |
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund ETF | 17.83% | 18.30% | 6.05% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GLCC.TO and UTES.TO have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UTES.TO is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UTES.TO is cheaper with a 0.60% expense ratio, compared with 0.79% for GLCC.TO.
They also come from different issuers: Global X and Evolve. Their fees differ too: 0.79% for GLCC.TO and 0.60% for UTES.TO.
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