MTRX.TO vs. USCL.TO

Last updated Apr 2, 2026

Compare and contrast key facts about Global X Artificial Intelligence Infrastructure Index ETF (MTRX.TO) and Global X Enhanced S&P 500 Covered Call ETF (USCL.TO).

MTRX.TO and USCL.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MTRX.TO is a passively managed fund by Global X that tracks the performance of the Mirae Asset AI Infrastructure CAD Index. It was launched on Feb 20, 2025. USCL.TO is an actively managed fund by Global X. It was launched on Jul 5, 2023.

Performance

MTRX.TO vs. USCL.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Artificial Intelligence Infrastructure Index ETF (MTRX.TO) and Global X Enhanced S&P 500 Covered Call ETF (USCL.TO). The values are adjusted to include any dividend payments, if applicable.

MTRX.TO vs. USCL.TO - Yearly Performance Comparison

	2026 (YTD)	2025
MTRX.TO Global X Artificial Intelligence Infrastructure Index ETF	15.92%	37.29%
USCL.TO Global X Enhanced S&P 500 Covered Call ETF	-1.75%	7.02%

Returns By Period

In the year-to-date period, MTRX.TO achieves a 15.92% return, which is significantly higher than USCL.TO's -1.75% return.

MTRX.TO

• 1D: 3.22%
• 1M: -5.59%
• YTD: 15.92%
• 6M: 18.12%
• 1Y: 82.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USCL.TO

• 1D: 0.55%
• 1M: -3.02%
• YTD: -1.75%
• 6M: -0.25%
• 1Y: 13.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

MTRX.TO vs. USCL.TO - Expense Ratio Comparison

MTRX.TO has a 0.49% expense ratio, which is higher than USCL.TO's 0.04% expense ratio.

MTRX.TO

Global X Artificial Intelligence Infrastructure Index ETF

USCL.TO

Global X Enhanced S&P 500 Covered Call ETF

Return for Risk

MTRX.TO vs. USCL.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MTRX.TO

MTRX.TO Risk / Return Rank: 96
MTRX.TO Sharpe Ratio Rank: 96
MTRX.TO Sortino Ratio Rank: 97
MTRX.TO Omega Ratio Rank: 96
MTRX.TO Calmar Ratio Rank: 97
MTRX.TO Martin Ratio Rank: 96

USCL.TO

USCL.TO Risk / Return Rank: 36
USCL.TO Sharpe Ratio Rank: 34
USCL.TO Sortino Ratio Rank: 35
USCL.TO Omega Ratio Rank: 42
USCL.TO Calmar Ratio Rank: 34
USCL.TO Martin Ratio Rank: 38

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MTRX.TO vs. USCL.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Artificial Intelligence Infrastructure Index ETF (MTRX.TO) and Global X Enhanced S&P 500 Covered Call ETF (USCL.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.

	MTRX.TO	USCL.TO	Difference
Sharpe ratio Return per unit of total volatility	2.71	0.67	+2.04
Sortino ratio Return per unit of downside risk	3.62	1.05	+2.56
Omega ratio Gain probability vs. loss probability	1.50	1.17	+0.33
Calmar ratio Return relative to maximum drawdown	5.58	0.88	+4.70
Martin ratio Return relative to average drawdown	19.05	3.65	+15.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MTRX.TO vs. USCL.TO - Sharpe Ratio Comparison

The current MTRX.TO Sharpe Ratio is 2.71, which is higher than the USCL.TO Sharpe Ratio of 0.67. The chart below compares the historical Sharpe Ratios of MTRX.TO and USCL.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MTRX.TO	USCL.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.71	0.67	+2.04
Sharpe Ratio (All Time) Calculated using the full available price history	1.65	1.13	+0.52

Correlation

The correlation between MTRX.TO and USCL.TO is 0.47, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

MTRX.TO vs. USCL.TO - Dividend Comparison

MTRX.TO's dividend yield for the trailing twelve months is around 0.03%, less than USCL.TO's 13.40% yield.

	TTM	2025	2024	2023
MTRX.TO Global X Artificial Intelligence Infrastructure Index ETF	0.03%	0.04%	0.00%	0.00%
USCL.TO Global X Enhanced S&P 500 Covered Call ETF	13.40%	12.94%	11.57%	7.08%

Drawdowns

MTRX.TO vs. USCL.TO - Drawdown Comparison

The maximum MTRX.TO drawdown since its inception was -19.75%, smaller than the maximum USCL.TO drawdown of -21.85%. Use the drawdown chart below to compare losses from any high point for MTRX.TO and USCL.TO.

Drawdown Indicators

	MTRX.TO	USCL.TO	Difference
Max Drawdown Largest peak-to-trough decline	-19.75%	-21.85%	+2.10%
Max Drawdown (1Y) Largest decline over 1 year	-14.79%	-14.94%	+0.15%
Current Drawdown Current decline from peak	-7.03%	-5.01%	-2.02%
Average Drawdown Average peak-to-trough decline	-4.36%	-2.66%	-1.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.33%	3.62%	+0.71%

Volatility

MTRX.TO vs. USCL.TO - Volatility Comparison

Global X Artificial Intelligence Infrastructure Index ETF (MTRX.TO) has a higher volatility of 13.19% compared to Global X Enhanced S&P 500 Covered Call ETF (USCL.TO) at 6.20%. This indicates that MTRX.TO's price experiences larger fluctuations and is considered to be riskier than USCL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MTRX.TO	USCL.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.19%	6.20%	+6.99%
Volatility (6M) Calculated over the trailing 6-month period	22.53%	10.04%	+12.49%
Volatility (1Y) Calculated over the trailing 1-year period	30.63%	20.30%	+10.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.67%	15.74%	+15.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.67%	15.74%	+15.93%