HBTE.NEO vs. ENCL.TO
HBTE.NEO (Harvest Bitcoin Leaders Enhanced Income ETF) and ENCL.TO (Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD) are both exchange-traded funds - HBTE.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, HBTE.NEO returned 68.12% vs 52.50% for ENCL.TO. At a 0.04 correlation, their price movements are largely independent. HBTE.NEO charges 0.75%/yr vs 1.86%/yr for ENCL.TO.
Performance
HBTE.NEO vs. ENCL.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HBTE.NEO achieves a 29.23% return, which is significantly lower than ENCL.TO's 36.58% return.
HBTE.NEO
- 1D
- -0.99%
- 1M
- 11.29%
- YTD
- 29.23%
- 6M
- 10.47%
- 1Y
- 68.12%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ENCL.TO
- 1D
- 0.43%
- 1M
- 2.89%
- YTD
- 36.58%
- 6M
- 32.07%
- 1Y
- 52.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HBTE.NEO vs. ENCL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HBTE.NEO Harvest Bitcoin Leaders Enhanced Income ETF | 29.23% | 60.52% |
ENCL.TO Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD | 36.58% | 21.14% |
Correlation
The correlation between HBTE.NEO and ENCL.TO is -0.01, 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 | -0.01 |
Correlation (All Time) Calculated using the full available price history since May 1, 2025 | 0.04 |
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Return for Risk
HBTE.NEO vs. ENCL.TO — Risk / Return Rank
HBTE.NEO
ENCL.TO
HBTE.NEO vs. ENCL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harvest Bitcoin Leaders Enhanced Income ETF (HBTE.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.
| HBTE.NEO | ENCL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.95 | ||
| Sortino ratioReturn per unit of downside risk | -1.99 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.51 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 1.23 | 4.91 | -3.68 |
| Martin ratioReturn relative to average drawdown | 2.40 | 17.58 | -15.18 |
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
| HBTE.NEO | ENCL.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.03 | 2.98 | -1.95 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.43 | 1.27 | +0.16 |
Drawdowns
HBTE.NEO vs. ENCL.TO - Drawdown Comparison
The maximum HBTE.NEO drawdown since its inception was -55.75%, 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 HBTE.NEO and ENCL.TO.
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Drawdown Indicators
| HBTE.NEO | ENCL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.75% | -21.05% | -34.70% |
Max Drawdown (1Y)Largest decline over 1 year | -55.75% | -10.75% | -45.00% |
Current DrawdownCurrent decline from peak | -23.92% | -2.54% | -21.38% |
Average DrawdownAverage peak-to-trough decline | -21.02% | -3.95% | -17.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.52% | 3.00% | +25.52% |
Volatility
HBTE.NEO vs. ENCL.TO - Volatility Comparison
Harvest Bitcoin Leaders Enhanced Income ETF (HBTE.NEO) has a higher volatility of 15.68% compared to Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD (ENCL.TO) at 7.30%. This indicates that HBTE.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
| HBTE.NEO | ENCL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.68% | 7.30% | +8.38% |
Volatility (6M)Calculated over the trailing 6-month period | 50.18% | 15.75% | +34.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 66.86% | 17.75% | +49.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 66.79% | 20.15% | +46.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 66.79% | 20.15% | +46.64% |
HBTE.NEO vs. ENCL.TO - Expense Ratio Comparison
HBTE.NEO has a 0.75% expense ratio, which is lower than ENCL.TO's 1.86% expense ratio.
Dividends
HBTE.NEO vs. ENCL.TO - Dividend Comparison
HBTE.NEO's dividend yield for the trailing twelve months is around 25.89%, 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% |
HBTE.NEO Harvest Bitcoin Leaders Enhanced Income ETF | 25.89% | 18.40% | 0.00% | 0.00% |
Frequently Asked Questions
HBTE.NEO and ENCL.TO have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HBTE.NEO is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HBTE.NEO is cheaper with a 0.75% expense ratio, compared with 1.86% for ENCL.TO.
HBTE.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: 0.75% for HBTE.NEO and 1.86% for ENCL.TO.
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