HPF.TO vs. ENCL.TO
HPF.TO (Harvest Energy Leaders Income ETF Class A CAD Hedged) and ENCL.TO (Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD) are both Energy Equities funds. Both are actively managed. Over the past year, HPF.TO returned 37.02% vs 47.69% for ENCL.TO. A 0.78 correlation means they provide meaningful diversification when combined.
Performance
HPF.TO vs. ENCL.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HPF.TO achieves a 28.72% return, which is significantly lower than ENCL.TO's 34.83% return.
HPF.TO
- 1D
- -0.80%
- 1M
- 2.08%
- 6M
- 22.63%
- YTD
- 28.72%
- 1Y
- 37.02%
- 3Y*
- 14.19%
- 5Y*
- 16.67%
- 10Y*
- 5.03%
ENCL.TO
- 1D
- -0.13%
- 1M
- 1.49%
- 6M
- 32.50%
- YTD
- 34.83%
- 1Y
- 47.69%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HPF.TO vs. ENCL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HPF.TO Harvest Energy Leaders Income ETF Class A CAD Hedged | 28.72% | 8.98% | -2.46% | -0.14% |
ENCL.TO Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD | 34.83% | 14.97% | 20.32% | -11.68% |
Correlation
The correlation between HPF.TO and ENCL.TO is 0.80, 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 | 0.80 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2023 | 0.78 |
The correlation between HPF.TO and ENCL.TO has been stable across timeframes, ranging from 0.78 to 0.80 - a consistent structural relationship.
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Return for Risk
HPF.TO vs. ENCL.TO — Risk / Return Rank
HPF.TO
ENCL.TO
HPF.TO vs. ENCL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harvest Energy Leaders Income ETF Class A CAD Hedged (HPF.TO) 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.
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.
| HPF.TO | ENCL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.62 | ||
| Sortino ratioReturn per unit of downside risk | -0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.43 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.10 | 4.46 | -1.36 |
| Martin ratioReturn relative to average drawdown | 9.15 | 12.96 | -3.81 |
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Drawdowns
HPF.TO vs. ENCL.TO - Drawdown Comparison
The maximum HPF.TO drawdown since its inception was -72.97%, 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 HPF.TO and ENCL.TO.
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Drawdown Indicators
| HPF.TO | ENCL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.97% | -21.05% | -51.92% |
Max Drawdown (1Y)Largest decline over 1 year | -12.01% | -10.75% | -1.26% |
Max Drawdown (3Y)Largest decline over 3 years | -22.85% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -23.87% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -69.11% | — | — |
Current DrawdownCurrent decline from peak | -5.69% | -3.79% | -1.90% |
Average DrawdownAverage peak-to-trough decline | -26.28% | -4.86% | -21.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.06% | 3.69% | +0.37% |
Volatility
HPF.TO vs. ENCL.TO - Volatility Comparison
The current volatility for Harvest Energy Leaders Income ETF Class A CAD Hedged (HPF.TO) is 6.52%, while Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD (ENCL.TO) has a volatility of 7.05%. This indicates that HPF.TO experiences smaller price fluctuations and is considered to be less risky 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
| HPF.TO | ENCL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.52% | 7.05% | -0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 16.30% | 15.79% | +0.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.76% | 19.09% | +0.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.66% | 21.00% | +2.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.03% | 21.00% | +7.03% |
Dividends
HPF.TO vs. ENCL.TO - Dividend Comparison
HPF.TO's dividend yield for the trailing twelve months is around 8.04%, less than ENCL.TO's 13.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ENCL.TO Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD | 13.74% | 17.14% | 18.56% | 4.68% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HPF.TO Harvest Energy Leaders Income ETF Class A CAD Hedged | 8.04% | 9.93% | 9.80% | 8.75% | 6.58% | 4.61% | 15.32% | 8.74% | 8.78% | 12.87% | 13.58% | 13.31% |
Frequently Asked Questions
HPF.TO and ENCL.TO have a correlation of 0.80, 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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