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

GLDX.TO vs. GLCC.TO

Last updated Jun 24, 2026

GLDX.TO (Global X Gold Producers Index ETF) and GLCC.TO (Global X Gold Producer Equity Covered Call ETF) are both exchange-traded funds - GLDX.TO is a Gold fund tracking the Mirae Asset North American Listed Gold Producers Index, while GLCC.TO is a Derivative Income fund actively managed by Global X. GLDX.TO is passively managed, while GLCC.TO is actively managed. Over the past year, GLDX.TO returned 58.70% vs 46.25% for GLCC.TO. With a 0.95 correlation, they move nearly in lockstep.

Performance

GLDX.TO vs. GLCC.TO - Performance Comparison

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

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Returns By Period

In the year-to-date period, GLDX.TO achieves a -7.62% return, which is significantly lower than GLCC.TO's -6.77% return.

GLDX.TO

1D
-3.64%
1M
-6.73%
YTD
-7.62%
6M
-12.30%
1Y
58.70%
3Y*
—
5Y*
—
10Y*
—

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

GLDX.TO vs. GLCC.TO - Yearly Performance Comparison

2026 (YTD)20252024
GLDX.TO
Global X Gold Producers Index ETF		-7.62%178.05%-10.27%
GLCC.TO
Global X Gold Producer Equity Covered Call ETF		-6.77%137.43%-10.48%

Correlation

The correlation between GLDX.TO and GLCC.TO is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.99

Correlation (All Time)
Calculated using the full available price history since Nov 8, 2024

0.95

The correlation between GLDX.TO and GLCC.TO has been stable across timeframes, ranging from 0.95 to 0.99 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Global X Gold Producers Index ETF

Global X Gold Producer Equity Covered Call ETF

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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

Return for Risk

GLDX.TO vs. GLCC.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GLDX.TO
GLDX.TO Risk / Return Rank: 3535
Overall Rank
GLDX.TO Sharpe Ratio Rank: 3737
Sharpe Ratio Rank
GLDX.TO Sortino Ratio Rank: 3333
Sortino Ratio Rank
GLDX.TO Omega Ratio Rank: 3737
Omega Ratio Rank
GLDX.TO Calmar Ratio Rank: 3636
Calmar Ratio Rank
GLDX.TO Martin Ratio Rank: 3232
Martin Ratio Rank
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
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.

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

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

GLDX.TOGLCC.TODifference
Sharpe ratioReturn per unit of total volatility
1.22
1.06

+0.17

Sortino ratioReturn per unit of downside risk
1.67
1.50

+0.17

Omega ratioGain probability vs. loss probability

1.23

1.21

+0.02

Calmar ratioReturn relative to maximum drawdown

1.67

1.41

+0.27

Martin ratioReturn relative to average drawdown

4.38

3.78

+0.60

GLDX.TO vs. GLCC.TO - Sharpe Ratio Comparison

The current GLDX.TO Sharpe Ratio is 1.22, which is comparable to the GLCC.TO Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of GLDX.TO and GLCC.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.

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Drawdowns

GLDX.TO vs. GLCC.TO - Drawdown Comparison

The maximum GLDX.TO drawdown since its inception was -35.22%, smaller than the maximum GLCC.TO drawdown of -81.37%. Use the drawdown chart below to compare losses from any high point for GLDX.TO and GLCC.TO.

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Drawdown Indicators

GLDX.TOGLCC.TODifference

Max Drawdown

Largest peak-to-trough decline

-35.22%

-81.37%

+46.15%

Max Drawdown (1Y)

Largest decline over 1 year

-35.22%

-33.03%

-2.19%

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 Drawdown

Current decline from peak

-30.84%

-28.29%

-2.55%

Average Drawdown

Average peak-to-trough decline

-7.32%

-53.09%

+45.77%

Ulcer Index

Depth and duration of drawdowns from previous peaks

13.47%

12.28%

+1.19%

Volatility

GLDX.TO vs. GLCC.TO - Volatility Comparison

Global X Gold Producers Index ETF (GLDX.TO) and Global X Gold Producer Equity Covered Call ETF (GLCC.TO) have volatilities of 16.57% and 15.89%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

GLDX.TOGLCC.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

16.57%

15.89%

+0.68%

Volatility (6M)

Calculated over the trailing 6-month period

38.70%

36.66%

+2.04%

Volatility (1Y)

Calculated over the trailing 1-year period

48.28%

43.99%

+4.29%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

44.49%

32.49%

+12.00%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

44.49%

32.24%

+12.25%

Dividends

GLDX.TO vs. GLCC.TO - Dividend Comparison

GLDX.TO's dividend yield for the trailing twelve months is around 1.05%, less than GLCC.TO's 9.28% 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%
GLDX.TO
Global X Gold Producers Index ETF		1.05%0.97%0.08%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

With a correlation of 0.99, GLDX.TO and GLCC.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

GLDX.TO is categorized as Gold, while GLCC.TO is Derivative Income.

Portfolio Optimizer

Find the right allocation for GLDX.TO and GLCC.TO

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