HBIX.NEO vs. ENCL.TO
HBIX.NEO (Harvest Bitcoin Enhanced Income ETF) and ENCL.TO (Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD) are both exchange-traded funds - HBIX.NEO is a Leveraged Cryptocurrency fund actively managed by Harvest, while ENCL.TO is a Oil & Gas fund actively managed by Global X. Both are actively managed. Over the past year, HBIX.NEO returned -41.89% vs 52.50% for ENCL.TO. At a 0.08 correlation, their price movements are largely independent. HBIX.NEO charges 0.65%/yr vs 1.86%/yr for ENCL.TO.
Performance
HBIX.NEO vs. ENCL.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HBIX.NEO achieves a -28.85% return, which is significantly lower than ENCL.TO's 36.58% return.
HBIX.NEO
- 1D
- -3.26%
- 1M
- -19.49%
- YTD
- -28.85%
- 6M
- -33.69%
- 1Y
- -41.89%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ENCL.TO
- 1D
- 0.43%
- 1M
- 2.89%
- YTD
- 36.58%
- 6M
- 32.07%
- 1Y
- 52.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HBIX.NEO vs. ENCL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HBIX.NEO Harvest Bitcoin Enhanced Income ETF | -28.85% | -6.82% |
ENCL.TO Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD | 36.58% | 21.14% |
Correlation
The correlation between HBIX.NEO and ENCL.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 May 1, 2025 | 0.08 |
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Return for Risk
HBIX.NEO vs. ENCL.TO — Risk / Return Rank
HBIX.NEO
ENCL.TO
HBIX.NEO vs. ENCL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harvest Bitcoin Enhanced Income ETF (HBIX.NEO) and Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD (ENCL.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.
| HBIX.NEO | ENCL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.79 | ||
| Sortino ratioReturn per unit of downside risk | -4.74 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.51 | -0.64 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | 4.91 | -5.66 |
| Martin ratioReturn relative to average drawdown | -1.33 | 17.58 | -18.90 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HBIX.NEO | ENCL.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.81 | 2.98 | -3.79 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.62 | 1.27 | -1.89 |
Drawdowns
HBIX.NEO vs. ENCL.TO - Drawdown Comparison
The maximum HBIX.NEO drawdown since its inception was -55.90%, which is greater than ENCL.TO's maximum drawdown of -21.05%. Use the drawdown chart below to compare losses from any high point for HBIX.NEO and ENCL.TO.
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Drawdown Indicators
| HBIX.NEO | ENCL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.90% | -21.05% | -34.85% |
Max Drawdown (1Y)Largest decline over 1 year | -55.90% | -10.75% | -45.15% |
Current DrawdownCurrent decline from peak | -52.88% | -2.54% | -50.34% |
Average DrawdownAverage peak-to-trough decline | -23.75% | -3.95% | -19.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 31.57% | 3.00% | +28.57% |
Volatility
HBIX.NEO vs. ENCL.TO - Volatility Comparison
Harvest Bitcoin Enhanced Income ETF (HBIX.NEO) has a higher volatility of 11.40% compared to Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD (ENCL.TO) at 7.30%. This indicates that HBIX.NEO's price experiences larger fluctuations and is considered to be riskier than ENCL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HBIX.NEO | ENCL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.40% | 7.30% | +4.10% |
Volatility (6M)Calculated over the trailing 6-month period | 41.52% | 15.75% | +25.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.62% | 17.75% | +33.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.94% | 20.15% | +30.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.94% | 20.15% | +30.79% |
HBIX.NEO vs. ENCL.TO - Expense Ratio Comparison
HBIX.NEO has a 0.65% expense ratio, which is lower than ENCL.TO's 1.86% expense ratio.
Dividends
HBIX.NEO vs. ENCL.TO - Dividend Comparison
HBIX.NEO's dividend yield for the trailing twelve months is around 44.52%, more than ENCL.TO's 13.35% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
ENCL.TO Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD | 13.35% | 17.14% | 18.56% | 4.68% |
HBIX.NEO Harvest Bitcoin Enhanced Income ETF | 44.52% | 20.21% | 0.00% | 0.00% |
Frequently Asked Questions
HBIX.NEO and ENCL.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, HBIX.NEO is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HBIX.NEO is cheaper with a 0.65% expense ratio, compared with 1.86% for ENCL.TO.
HBIX.NEO is categorized as Leveraged Cryptocurrency, while ENCL.TO is Oil & Gas. They also come from different issuers: Harvest and Global X. Their fees differ too: 0.65% for HBIX.NEO and 1.86% for ENCL.TO.
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