GLCL.TO vs. HBNK.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Global X Enhanced Gold Producer Equity Covered Call ETF (GLCL.TO) and Global X Equal Weight Banks Index ETF (HBNK.TO).

GLCL.TO and HBNK.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GLCL.TO is a passively managed fund by Global X that tracks the performance of the Mirae Asset North American Listed Gold Producers Index. It was launched on Apr 21, 2025. HBNK.TO is a passively managed fund by Global X that tracks the performance of the Solactive Equal Weight Canada Banks Index. It was launched on Jul 5, 2023. Both GLCL.TO and HBNK.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

GLCL.TO vs. HBNK.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Enhanced Gold Producer Equity Covered Call ETF (GLCL.TO) and Global X Equal Weight Banks Index ETF (HBNK.TO). The values are adjusted to include any dividend payments, if applicable.

GLCL.TO vs. HBNK.TO - Yearly Performance Comparison

	2026 (YTD)	2025
GLCL.TO Global X Enhanced Gold Producer Equity Covered Call ETF	6.10%	104.93%
HBNK.TO Global X Equal Weight Banks Index ETF	1.67%	45.48%

Returns By Period

In the year-to-date period, GLCL.TO achieves a 6.10% return, which is significantly higher than HBNK.TO's 1.67% return.

GLCL.TO

• 1D: 6.70%
• 1M: -23.28%
• YTD: 6.10%
• 6M: 24.42%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HBNK.TO

• 1D: 2.25%
• 1M: -4.06%
• YTD: 1.67%
• 6M: 14.60%
• 1Y: 52.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GLCL.TO vs. HBNK.TO - Expense Ratio Comparison

GLCL.TO has a 0.85% expense ratio, which is higher than HBNK.TO's 0.09% expense ratio.

GLCL.TO

Global X Enhanced Gold Producer Equity Covered Call ETF

HBNK.TO

Global X Equal Weight Banks Index ETF

Return for Risk

GLCL.TO vs. HBNK.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HBNK.TO

HBNK.TO Risk / Return Rank: 98
HBNK.TO Sharpe Ratio Rank: 98
HBNK.TO Sortino Ratio Rank: 98
HBNK.TO Omega Ratio Rank: 98
HBNK.TO Calmar Ratio Rank: 98
HBNK.TO Martin Ratio Rank: 98

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.

GLCL.TO vs. HBNK.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Enhanced Gold Producer Equity Covered Call ETF (GLCL.TO) and Global X Equal Weight Banks Index ETF (HBNK.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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	GLCL.TO	HBNK.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.89	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.69	2.31	+0.38

Correlation

The correlation between GLCL.TO and HBNK.TO is 0.19, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

GLCL.TO vs. HBNK.TO - Dividend Comparison

GLCL.TO's dividend yield for the trailing twelve months is around 6.14%, more than HBNK.TO's 2.97% yield.

	TTM	2025	2024	2023
GLCL.TO Global X Enhanced Gold Producer Equity Covered Call ETF	6.14%	4.34%	0.00%	0.00%
HBNK.TO Global X Equal Weight Banks Index ETF	2.97%	3.24%	4.15%	2.45%

Drawdowns

GLCL.TO vs. HBNK.TO - Drawdown Comparison

The maximum GLCL.TO drawdown since its inception was -35.08%, which is greater than HBNK.TO's maximum drawdown of -14.78%. Use the drawdown chart below to compare losses from any high point for GLCL.TO and HBNK.TO.

Drawdown Indicators

	GLCL.TO	HBNK.TO	Difference
Max Drawdown Largest peak-to-trough decline	-35.08%	-14.78%	-20.30%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.48%	—
Current Drawdown Current decline from peak	-23.28%	-6.03%	-17.25%
Average Drawdown Average peak-to-trough decline	-5.61%	-2.41%	-3.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.15%	—

Volatility

Volatility by Period

	GLCL.TO	HBNK.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.70%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.90%	—
Volatility (1Y) Calculated over the trailing 1-year period	50.93%	13.46%	+37.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.93%	12.43%	+38.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.93%	12.43%	+38.50%