HLIF.TO vs. EMCL.NEO
HLIF.TO (Harvest Canadian Equity Income Leaders ETF Class A) 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, HLIF.TO returned 36.43% vs 47.60% for EMCL.NEO. At a 0.29 correlation, their price movements are largely independent.
Performance
HLIF.TO vs. EMCL.NEO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HLIF.TO achieves a 16.61% return, which is significantly lower than EMCL.NEO's 26.93% return.
HLIF.TO
- 1D
- -0.32%
- 1M
- 0.81%
- YTD
- 16.61%
- 6M
- 16.85%
- 1Y
- 36.43%
- 3Y*
- 21.76%
- 5Y*
- —
- 10Y*
- —
EMCL.NEO
- 1D
- 0.27%
- 1M
- 3.04%
- YTD
- 26.93%
- 6M
- 28.29%
- 1Y
- 47.60%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HLIF.TO vs. EMCL.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HLIF.TO Harvest Canadian Equity Income Leaders ETF Class A | 16.61% | 25.43% | 10.86% |
EMCL.NEO Global X Enhanced MSCI Emerging Markets Covered Call ETF | 26.93% | 20.46% | 3.66% |
Correlation
The correlation between HLIF.TO and EMCL.NEO is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since May 29, 2024 | 0.29 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HLIF.TO vs. EMCL.NEO — Risk / Return Rank
HLIF.TO
EMCL.NEO
HLIF.TO vs. EMCL.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harvest Canadian Equity Income Leaders ETF Class A (HLIF.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.
| HLIF.TO | EMCL.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.05 | ||
| Sortino ratioReturn per unit of downside risk | +5.18 | ||
| Omega ratioGain probability vs. loss probability | 2.08 | 1.45 | +0.64 |
| Calmar ratioReturn relative to maximum drawdown | 11.84 | 3.74 | +8.11 |
| Martin ratioReturn relative to average drawdown | 59.68 | 13.41 | +46.27 |
Loading charts...
Drawdowns
HLIF.TO vs. EMCL.NEO - Drawdown Comparison
The maximum HLIF.TO drawdown since its inception was -11.12%, smaller than the maximum EMCL.NEO drawdown of -19.73%. Use the drawdown chart below to compare losses from any high point for HLIF.TO and EMCL.NEO.
Loading charts...
Drawdown Indicators
| HLIF.TO | EMCL.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.12% | -19.73% | +8.61% |
Max Drawdown (1Y)Largest decline over 1 year | -3.09% | -13.12% | +10.03% |
Max Drawdown (3Y)Largest decline over 3 years | -9.96% | — | — |
Current DrawdownCurrent decline from peak | -0.71% | -4.65% | +3.94% |
Average DrawdownAverage peak-to-trough decline | -2.00% | -2.57% | +0.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.61% | 3.61% | -3.00% |
Volatility
HLIF.TO vs. EMCL.NEO - Volatility Comparison
The current volatility for Harvest Canadian Equity Income Leaders ETF Class A (HLIF.TO) is 2.16%, while Global X Enhanced MSCI Emerging Markets Covered Call ETF (EMCL.NEO) has a volatility of 12.60%. This indicates that HLIF.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.
Loading charts...
Volatility by Period
| HLIF.TO | EMCL.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.16% | 12.60% | -10.44% |
Volatility (6M)Calculated over the trailing 6-month period | 5.84% | 20.76% | -14.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.00% | 22.56% | -15.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.43% | 23.02% | -12.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.43% | 23.02% | -12.59% |
Dividends
HLIF.TO vs. EMCL.NEO - Dividend Comparison
HLIF.TO's dividend yield for the trailing twelve months is around 6.01%, less than EMCL.NEO's 10.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
EMCL.NEO Global X Enhanced MSCI Emerging Markets Covered Call ETF | 10.20% | 9.86% | 3.10% | 0.00% | 0.00% |
HLIF.TO Harvest Canadian Equity Income Leaders ETF Class A | 6.01% | 6.26% | 7.33% | 7.96% | 3.91% |
Frequently Asked Questions
HLIF.TO and EMCL.NEO have a correlation of 0.32, 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.
Find the right allocation for HLIF.TO and EMCL.NEO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer