HHIS.TO vs. EMCL.NEO
HHIS.TO (Harvest Diversified High Income Shares ETF) and EMCL.NEO (Global X Enhanced MSCI Emerging Markets Covered Call ETF) are both Derivative Income funds. Both are actively managed. Over the past year, HHIS.TO returned 17.08% vs 48.05% for EMCL.NEO. A 0.52 correlation means they provide meaningful diversification when combined.
Performance
HHIS.TO vs. EMCL.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, HHIS.TO achieves a 4.97% return, which is significantly lower than EMCL.NEO's 27.52% return.
HHIS.TO
- 1D
- 3.74%
- 1M
- -6.81%
- YTD
- 4.97%
- 6M
- 3.96%
- 1Y
- 17.08%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EMCL.NEO
- 1D
- 0.50%
- 1M
- 2.99%
- YTD
- 27.52%
- 6M
- 28.23%
- 1Y
- 48.05%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HHIS.TO vs. EMCL.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HHIS.TO Harvest Diversified High Income Shares ETF | 4.97% | 24.70% |
EMCL.NEO Global X Enhanced MSCI Emerging Markets Covered Call ETF | 27.52% | 22.12% |
Correlation
The correlation between HHIS.TO and EMCL.NEO is 0.62, 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 | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jan 16, 2025 | 0.52 |
The correlation between HHIS.TO and EMCL.NEO has been stable across timeframes, ranging from 0.52 to 0.62 - a consistent structural relationship.
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Return for Risk
HHIS.TO vs. EMCL.NEO — Risk / Return Rank
HHIS.TO
EMCL.NEO
HHIS.TO vs. EMCL.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harvest Diversified High Income Shares ETF (HHIS.TO) and Global X Enhanced MSCI Emerging Markets Covered Call ETF (EMCL.NEO). 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.
| HHIS.TO | EMCL.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.50 | ||
| Sortino ratioReturn per unit of downside risk | -1.60 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.45 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 0.70 | 3.77 | -3.07 |
| Martin ratioReturn relative to average drawdown | 1.72 | 13.44 | -11.72 |
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Drawdowns
HHIS.TO vs. EMCL.NEO - Drawdown Comparison
The maximum HHIS.TO drawdown since its inception was -31.83%, which is greater than EMCL.NEO's maximum drawdown of -19.73%. Use the drawdown chart below to compare losses from any high point for HHIS.TO and EMCL.NEO.
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Drawdown Indicators
| HHIS.TO | EMCL.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.83% | -19.73% | -12.10% |
Max Drawdown (1Y)Largest decline over 1 year | -24.43% | -13.12% | -11.31% |
Current DrawdownCurrent decline from peak | -6.81% | -4.21% | -2.60% |
Average DrawdownAverage peak-to-trough decline | -8.59% | -2.58% | -6.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.98% | 3.64% | +6.34% |
Volatility
HHIS.TO vs. EMCL.NEO - Volatility Comparison
The current volatility for Harvest Diversified High Income Shares ETF (HHIS.TO) is 9.75%, while Global X Enhanced MSCI Emerging Markets Covered Call ETF (EMCL.NEO) has a volatility of 12.66%. This indicates that HHIS.TO experiences smaller price fluctuations and is considered to be less risky than EMCL.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HHIS.TO | EMCL.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.75% | 12.66% | -2.91% |
Volatility (6M)Calculated over the trailing 6-month period | 18.78% | 20.79% | -2.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.47% | 22.52% | +1.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.81% | 22.96% | +10.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.81% | 22.96% | +10.85% |
Dividends
HHIS.TO vs. EMCL.NEO - Dividend Comparison
HHIS.TO's dividend yield for the trailing twelve months is around 27.73%, more than EMCL.NEO's 10.15% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
EMCL.NEO Global X Enhanced MSCI Emerging Markets Covered Call ETF | 10.15% | 9.86% | 3.10% |
HHIS.TO Harvest Diversified High Income Shares ETF | 27.73% | 22.88% | 0.00% |
Frequently Asked Questions
HHIS.TO and EMCL.NEO have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Harvest and Global X.
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