HAZ.TO vs. USCL.TO
HAZ.TO (Global X Active Global Dividend ETF) and USCL.TO (Global X Enhanced S&P 500 Covered Call ETF) are both exchange-traded funds - HAZ.TO is a Global Equity Income fund actively managed by Global X, while USCL.TO is a Derivative Income fund actively managed by Global X. Both are actively managed. Over the past year, HAZ.TO returned 20.83% vs 31.11% for USCL.TO. A 0.74 correlation means they provide meaningful diversification when combined.
Performance
HAZ.TO vs. USCL.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with HAZ.TO having a 12.12% return and USCL.TO slightly higher at 12.35%.
HAZ.TO
- 1D
- -0.15%
- 1M
- 2.74%
- YTD
- 12.12%
- 6M
- 11.57%
- 1Y
- 20.83%
- 3Y*
- 17.90%
- 5Y*
- 13.80%
- 10Y*
- 11.47%
USCL.TO
- 1D
- -0.41%
- 1M
- 4.02%
- YTD
- 12.35%
- 6M
- 13.29%
- 1Y
- 31.11%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HAZ.TO vs. USCL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HAZ.TO Global X Active Global Dividend ETF | 12.12% | 7.49% | 25.38% | 8.35% |
USCL.TO Global X Enhanced S&P 500 Covered Call ETF | 12.35% | 10.03% | 38.54% | 8.88% |
Correlation
The correlation between HAZ.TO and USCL.TO is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Jul 6, 2023 | 0.74 |
The correlation between HAZ.TO and USCL.TO has been stable across timeframes, ranging from 0.72 to 0.74 - a consistent structural relationship.
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Return for Risk
HAZ.TO vs. USCL.TO — Risk / Return Rank
HAZ.TO
USCL.TO
HAZ.TO vs. USCL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Active Global Dividend ETF (HAZ.TO) and Global X Enhanced S&P 500 Covered Call ETF (USCL.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.
| HAZ.TO | USCL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.53 | ||
| Sortino ratioReturn per unit of downside risk | -0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.49 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.82 | 3.65 | +0.17 |
| Martin ratioReturn relative to average drawdown | 13.27 | 14.68 | -1.41 |
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Drawdowns
HAZ.TO vs. USCL.TO - Drawdown Comparison
The maximum HAZ.TO drawdown since its inception was -25.55%, which is greater than USCL.TO's maximum drawdown of -21.85%. Use the drawdown chart below to compare losses from any high point for HAZ.TO and USCL.TO.
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Drawdown Indicators
| HAZ.TO | USCL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.55% | -21.85% | -3.70% |
Max Drawdown (1Y)Largest decline over 1 year | -5.48% | -8.56% | +3.08% |
Max Drawdown (3Y)Largest decline over 3 years | -14.09% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -18.07% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -25.55% | — | — |
Current DrawdownCurrent decline from peak | -0.15% | -0.41% | +0.26% |
Average DrawdownAverage peak-to-trough decline | -3.24% | -2.53% | -0.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.57% | 2.12% | -0.55% |
Volatility
HAZ.TO vs. USCL.TO - Volatility Comparison
The current volatility for Global X Active Global Dividend ETF (HAZ.TO) is 2.90%, while Global X Enhanced S&P 500 Covered Call ETF (USCL.TO) has a volatility of 4.63%. This indicates that HAZ.TO experiences smaller price fluctuations and is considered to be less risky than USCL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HAZ.TO | USCL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.90% | 4.63% | -1.73% |
Volatility (6M)Calculated over the trailing 6-month period | 7.74% | 9.99% | -2.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.32% | 12.24% | -1.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.16% | 15.70% | -3.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.30% | 15.70% | -1.40% |
Dividends
HAZ.TO vs. USCL.TO - Dividend Comparison
HAZ.TO's dividend yield for the trailing twelve months is around 1.30%, less than USCL.TO's 11.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HAZ.TO Global X Active Global Dividend ETF | 1.30% | 1.48% | 0.96% | 1.78% | 3.40% | 1.71% | 1.93% | 2.27% | 2.31% | 2.20% | 2.40% | 2.51% |
USCL.TO Global X Enhanced S&P 500 Covered Call ETF | 11.87% | 12.94% | 11.57% | 7.08% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HAZ.TO and USCL.TO have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HAZ.TO is categorized as Global Equity Income, while USCL.TO is Derivative Income.
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