HSAV.TO vs. ENCL.TO
HSAV.TO (Global X Cash Maximizer Corporate Class ETF) and ENCL.TO (Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD) are both exchange-traded funds - HSAV.TO is a Bank Loan fund actively managed by Global X, while ENCL.TO is a Oil & Gas fund actively managed by Global X. Both are actively managed. Over the past year, HSAV.TO returned 2.74% vs 55.71% for ENCL.TO. At a 0.03 correlation, their price movements are largely independent. HSAV.TO charges 0.18%/yr vs 1.86%/yr for ENCL.TO.
Performance
HSAV.TO vs. ENCL.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HSAV.TO achieves a 1.05% return, which is significantly lower than ENCL.TO's 37.98% return.
HSAV.TO
- 1D
- 0.01%
- 1M
- 0.03%
- YTD
- 1.05%
- 6M
- 1.42%
- 1Y
- 2.74%
- 3Y*
- 3.71%
- 5Y*
- 3.20%
- 10Y*
- —
ENCL.TO
- 1D
- 1.03%
- 1M
- 3.49%
- YTD
- 37.98%
- 6M
- 33.14%
- 1Y
- 55.71%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HSAV.TO vs. ENCL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HSAV.TO Global X Cash Maximizer Corporate Class ETF | 1.05% | 2.58% | 4.24% | 0.50% |
ENCL.TO Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD | 37.98% | 14.97% | 20.32% | -3.43% |
Correlation
The correlation between HSAV.TO and ENCL.TO is -0.06, 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 | -0.06 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 2023 | 0.03 |
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Return for Risk
HSAV.TO vs. ENCL.TO — Risk / Return Rank
HSAV.TO
ENCL.TO
HSAV.TO vs. ENCL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Cash Maximizer Corporate Class ETF (HSAV.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.
| HSAV.TO | ENCL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.88 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.54 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 4.64 | 5.21 | -0.56 |
| Martin ratioReturn relative to average drawdown | 12.61 | 18.64 | -6.03 |
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
| HSAV.TO | ENCL.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.98 | 3.17 | -1.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.82 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.72 | 1.30 | +0.42 |
Drawdowns
HSAV.TO vs. ENCL.TO - Drawdown Comparison
The maximum HSAV.TO drawdown since its inception was -2.18%, smaller than the maximum ENCL.TO drawdown of -21.05%. Use the drawdown chart below to compare losses from any high point for HSAV.TO and ENCL.TO.
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Drawdown Indicators
| HSAV.TO | ENCL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.18% | -21.05% | +18.87% |
Max Drawdown (1Y)Largest decline over 1 year | -0.59% | -10.75% | +10.16% |
Max Drawdown (3Y)Largest decline over 3 years | -1.06% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -2.18% | — | — |
Current DrawdownCurrent decline from peak | -0.17% | -1.54% | +1.37% |
Average DrawdownAverage peak-to-trough decline | -0.19% | -3.94% | +3.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.22% | 3.00% | -2.78% |
Volatility
HSAV.TO vs. ENCL.TO - Volatility Comparison
The current volatility for Global X Cash Maximizer Corporate Class ETF (HSAV.TO) is 0.46%, while Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD (ENCL.TO) has a volatility of 7.34%. This indicates that HSAV.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
| HSAV.TO | ENCL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.46% | 7.34% | -6.88% |
Volatility (6M)Calculated over the trailing 6-month period | 1.05% | 15.68% | -14.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.39% | 17.73% | -16.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.77% | 20.15% | -18.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.58% | 20.15% | -18.57% |
HSAV.TO vs. ENCL.TO - Expense Ratio Comparison
HSAV.TO has a 0.18% expense ratio, which is lower than ENCL.TO's 1.86% expense ratio.
Dividends
HSAV.TO vs. ENCL.TO - Dividend Comparison
HSAV.TO has not paid dividends to shareholders, while ENCL.TO's dividend yield for the trailing twelve months is around 13.22%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
ENCL.TO Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD | 13.22% | 17.14% | 18.56% | 4.68% |
HSAV.TO Global X Cash Maximizer Corporate Class ETF | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HSAV.TO and ENCL.TO have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HSAV.TO is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HSAV.TO is cheaper with a 0.18% expense ratio, compared with 1.86% for ENCL.TO.
HSAV.TO is categorized as Bank Loan, while ENCL.TO is Oil & Gas. Their fees differ too: 0.18% for HSAV.TO and 1.86% for ENCL.TO.
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