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HGY.TO vs. USCL.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

HGY.TO vs. USCL.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Global X Gold Yield ETF (HGY.TO) and Global X Enhanced S&P 500 Covered Call ETF (USCL.TO).

HGY.TO and USCL.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HGY.TO is an actively managed fund by Global X. It was launched on Dec 14, 2010. USCL.TO is an actively managed fund by Global X. It was launched on Jul 5, 2023.

Performance

HGY.TO vs. USCL.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Gold Yield ETF (HGY.TO) and Global X Enhanced S&P 500 Covered Call ETF (USCL.TO). The values are adjusted to include any dividend payments, if applicable.

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HGY.TO vs. USCL.TO - Yearly Performance Comparison

2026 (YTD)202520242023
HGY.TO
Global X Gold Yield ETF		2.11%48.66%21.36%6.29%
USCL.TO
Global X Enhanced S&P 500 Covered Call ETF		-5.43%10.03%38.54%4.33%

Returns By Period

In the year-to-date period, HGY.TO achieves a 2.11% return, which is significantly higher than USCL.TO's -5.43% return.

HGY.TO

1D
0.00%
1M
-13.74%
YTD
2.11%
6M
11.36%
1Y
32.43%
3Y*
24.33%
5Y*
15.60%
10Y*
9.83%

USCL.TO

1D
0.00%
1M
-6.20%
YTD
-5.43%
6M
-3.57%
1Y
8.98%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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 Yield ETF

Global X Enhanced S&P 500 Covered Call ETF

Often compared with HGY.TO:
HGY.TO vs. GC=FHGY.TO vs. VALT.TOHGY.TO vs. VDY.TOHGY.TO vs. XEG.TOHGY.TO vs. XGD.TOHGY.TO vs. HGGG.TOHGY.TO vs. AMAX.TO
Often compared with USCL.TO:
USCL.TO vs. HYLD.TOUSCL.TO vs. MSTE.TOUSCL.TO vs. SDAY.NEOUSCL.TO vs. QQQYUSCL.TO vs. VFV.TOUSCL.TO vs. TSLA.TOUSCL.TO vs. QQCL.TO

HGY.TO vs. USCL.TO - Expense Ratio Comparison

HGY.TO has a 0.86% expense ratio, which is higher than USCL.TO's 0.04% expense ratio.

HGY.TO
Global X Gold Yield ETF
USCL.TO
Global X Enhanced S&P 500 Covered Call ETF

Return for Risk

HGY.TO vs. USCL.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HGY.TO
HGY.TO Risk / Return Rank: 7373
Overall Rank
HGY.TO Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
HGY.TO Sortino Ratio Rank: 7171
Sortino Ratio Rank
HGY.TO Omega Ratio Rank: 7171
Omega Ratio Rank
HGY.TO Calmar Ratio Rank: 7373
Calmar Ratio Rank
HGY.TO Martin Ratio Rank: 7474
Martin Ratio Rank
USCL.TO
USCL.TO Risk / Return Rank: 3030
Overall Rank
USCL.TO Sharpe Ratio Rank: 2727
Sharpe Ratio Rank
USCL.TO Sortino Ratio Rank: 2828
Sortino Ratio Rank
USCL.TO Omega Ratio Rank: 3232
Omega Ratio Rank
USCL.TO Calmar Ratio Rank: 3030
Calmar Ratio Rank
USCL.TO Martin Ratio Rank: 3333
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.

HGY.TO vs. USCL.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Gold Yield ETF (HGY.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.

HGY.TOUSCL.TODifference

Sharpe ratio

Return per unit of total volatility

1.38

0.45

+0.93

Sortino ratio

Return per unit of downside risk

1.82

0.76

+1.06

Omega ratio

Gain probability vs. loss probability

1.27

1.12

+0.14

Calmar ratio

Return relative to maximum drawdown

1.93

0.67

+1.27

Martin ratio

Return relative to average drawdown

7.93

2.74

+5.19

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HGY.TO vs. USCL.TO - Sharpe Ratio Comparison

The current HGY.TO Sharpe Ratio is 1.38, which is higher than the USCL.TO Sharpe Ratio of 0.45. The chart below compares the historical Sharpe Ratios of HGY.TO and USCL.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

HGY.TOUSCL.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.38

0.45

+0.93

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.03

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.65

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

—

1.04

—

Correlation

The correlation between HGY.TO and USCL.TO is -0.07. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

HGY.TO vs. USCL.TO - Dividend Comparison

HGY.TO's dividend yield for the trailing twelve months is around 5.53%, less than USCL.TO's 13.76% yield.

TTM20252024202320222021202020192018201720162015
HGY.TO
Global X Gold Yield ETF		5.53%4.92%5.32%6.10%6.42%5.87%5.72%4.19%4.66%4.63%5.37%6.13%
USCL.TO
Global X Enhanced S&P 500 Covered Call ETF		13.76%12.94%11.57%7.08%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Drawdowns

HGY.TO vs. USCL.TO - Drawdown Comparison

The maximum HGY.TO drawdown since its inception was -188,898.12%, 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 HGY.TO and USCL.TO.

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Drawdown Indicators

HGY.TOUSCL.TODifference

Max Drawdown

Largest peak-to-trough decline

-188,898.12%

-21.85%

-188,876.27%

Max Drawdown (1Y)

Largest decline over 1 year

-17.47%

-14.94%

-2.53%

Max Drawdown (5Y)

Largest decline over 5 years

-18.32%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-20.31%

—

—

Current Drawdown

Current decline from peak

-161,050.90%

-8.56%

-161,042.34%

Average Drawdown

Average peak-to-trough decline

-74,810.45%

-2.66%

-74,807.79%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.26%

3.63%

+0.63%

Volatility

HGY.TO vs. USCL.TO - Volatility Comparison

Global X Gold Yield ETF (HGY.TO) has a higher volatility of 9.78% compared to Global X Enhanced S&P 500 Covered Call ETF (USCL.TO) at 5.13%. This indicates that HGY.TO's price experiences larger fluctuations and is considered to be riskier 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

HGY.TOUSCL.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

9.78%

5.13%

+4.65%

Volatility (6M)

Calculated over the trailing 6-month period

20.33%

9.48%

+10.85%

Volatility (1Y)

Calculated over the trailing 1-year period

23.57%

20.04%

+3.53%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.30%

15.62%

-0.32%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.27%

15.62%

-0.35%