HXF.TO vs. ENCC.TO
HXF.TO (Global X S&P/TSX Capped Financials Index Corporate Class ETF) and ENCC.TO (Global X Canadian Oil and Gas Equity Covered Call ETF) are both exchange-traded funds - HXF.TO is a Financials Equities fund tracking the S&P/TSX Capped Financials Index (Total Return), while ENCC.TO is a Derivative Income fund actively managed by Global X. HXF.TO is passively managed, while ENCC.TO is actively managed. Over the past 10 years, HXF.TO returned 16.04%/yr vs 8.31%/yr for ENCC.TO. At a 0.21 correlation, their price movements are largely independent. HXF.TO charges 0.25%/yr vs 0.76%/yr for ENCC.TO.
Performance
HXF.TO vs. ENCC.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HXF.TO achieves a 20.97% return, which is significantly lower than ENCC.TO's 24.43% return. Over the past 10 years, HXF.TO has outperformed ENCC.TO with an annualized return of 16.04%, while ENCC.TO has yielded a comparatively lower 8.31% annualized return.
HXF.TO
- 1D
- 0.49%
- 1M
- 7.63%
- YTD
- 20.97%
- 6M
- 21.66%
- 1Y
- 52.43%
- 3Y*
- 34.42%
- 5Y*
- 19.35%
- 10Y*
- 16.04%
ENCC.TO
- 1D
- 0.64%
- 1M
- -4.83%
- YTD
- 24.43%
- 6M
- 25.49%
- 1Y
- 34.49%
- 3Y*
- 22.40%
- 5Y*
- 23.41%
- 10Y*
- 8.31%
HXF.TO vs. ENCC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HXF.TO Global X S&P/TSX Capped Financials Index Corporate Class ETF | 20.97% | 35.34% | 30.19% | 12.46% | -9.00% | 35.14% | 1.80% | 21.45% | -9.50% | 12.67% |
ENCC.TO Global X Canadian Oil and Gas Equity Covered Call ETF | 24.43% | 13.13% | 17.39% | 5.72% | 41.32% | 80.54% | -27.98% | 6.56% | -30.99% | -18.47% |
Correlation
The correlation between HXF.TO and ENCC.TO is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Sep 19, 2013 | 0.21 |
The correlation between HXF.TO and ENCC.TO shifts across timeframes, from -0.10 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.
HXF.TO vs. ENCC.TO - Sectors Allocation Comparison
Sectors
HXF.TO
ENCC.TO
Financial Services
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Basic Materials
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Communication Services
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Consumer Cyclical
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Consumer Defensive
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Energy
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Healthcare
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Industrials
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Real Estate
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Technology
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Utilities
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Financial Services
HXF.TO
ENCC.TO
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Basic Materials
HXF.TO
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ENCC.TO
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Communication Services
HXF.TO
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ENCC.TO
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Consumer Cyclical
HXF.TO
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ENCC.TO
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Consumer Defensive
HXF.TO
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ENCC.TO
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Energy
HXF.TO
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ENCC.TO
Healthcare
HXF.TO
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ENCC.TO
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Industrials
HXF.TO
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ENCC.TO
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Real Estate
HXF.TO
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ENCC.TO
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Technology
HXF.TO
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ENCC.TO
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Utilities
HXF.TO
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ENCC.TO
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Return for Risk
HXF.TO vs. ENCC.TO — Risk / Return Rank
HXF.TO
ENCC.TO
HXF.TO vs. ENCC.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X S&P/TSX Capped Financials Index Corporate Class ETF (HXF.TO) and Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.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.
| HXF.TO | ENCC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.69 | ||
| Sortino ratioReturn per unit of downside risk | +2.74 | ||
| Omega ratioGain probability vs. loss probability | 1.82 | 1.42 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 6.64 | 4.09 | +2.55 |
| Martin ratioReturn relative to average drawdown | 26.97 | 13.56 | +13.41 |
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Drawdowns
HXF.TO vs. ENCC.TO - Drawdown Comparison
The maximum HXF.TO drawdown since its inception was -39.77%, smaller than the maximum ENCC.TO drawdown of -93.29%. Use the drawdown chart below to compare losses from any high point for HXF.TO and ENCC.TO.
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Drawdown Indicators
| HXF.TO | ENCC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.77% | -93.29% | +53.52% |
Max Drawdown (1Y)Largest decline over 1 year | -7.94% | -8.48% | +0.54% |
Max Drawdown (3Y)Largest decline over 3 years | -12.90% | -16.67% | +3.77% |
Max Drawdown (5Y)Largest decline over 5 years | -21.45% | -25.58% | +4.13% |
Max Drawdown (10Y)Largest decline over 10 years | -39.77% | -82.15% | +42.38% |
Current DrawdownCurrent decline from peak | 0.00% | -28.36% | +28.36% |
Average DrawdownAverage peak-to-trough decline | -5.08% | -55.98% | +50.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.95% | 2.56% | -0.61% |
Volatility
HXF.TO vs. ENCC.TO - Volatility Comparison
The current volatility for Global X S&P/TSX Capped Financials Index Corporate Class ETF (HXF.TO) is 3.60%, while Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.TO) has a volatility of 5.30%. This indicates that HXF.TO experiences smaller price fluctuations and is considered to be less risky than ENCC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HXF.TO | ENCC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.60% | 5.30% | -1.70% |
Volatility (6M)Calculated over the trailing 6-month period | 11.27% | 12.33% | -1.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.91% | 14.53% | -1.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.74% | 22.97% | -8.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.07% | 29.02% | -11.95% |
HXF.TO vs. ENCC.TO - Expense Ratio Comparison
HXF.TO has a 0.25% expense ratio, which is lower than ENCC.TO's 0.76% expense ratio.
Dividends
HXF.TO vs. ENCC.TO - Dividend Comparison
HXF.TO has not paid dividends to shareholders, while ENCC.TO's dividend yield for the trailing twelve months is around 11.50%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ENCC.TO Global X Canadian Oil and Gas Equity Covered Call ETF | 11.50% | 13.62% | 14.58% | 14.87% | 12.55% | 4.23% | 5.10% | 6.11% | 8.37% | 6.93% | 4.34% | 3.03% |
HXF.TO Global X S&P/TSX Capped Financials Index Corporate Class ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HXF.TO and ENCC.TO have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HXF.TO is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HXF.TO is cheaper with a 0.25% expense ratio, compared with 0.76% for ENCC.TO.
HXF.TO is categorized as Financials Equities, while ENCC.TO is Derivative Income. Their fees differ too: 0.25% for HXF.TO and 0.76% for ENCC.TO.
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