PPLN.TO vs. ENCC.TO
PPLN.TO (Global X Equal Weight Canadian Pipelines Index ETF) and ENCC.TO (Global X Canadian Oil and Gas Equity Covered Call ETF) are both exchange-traded funds - PPLN.TO is a Energy Equities fund tracking the Mirae Asset Equal Weight Canadian Pipeline Index, while ENCC.TO is a Derivative Income fund actively managed by Global X. PPLN.TO is passively managed, while ENCC.TO is actively managed. Over the past 10 years, PPLN.TO returned 10.87%/yr vs 8.49%/yr for ENCC.TO. A 0.56 correlation means they provide meaningful diversification when combined. PPLN.TO charges 0.31%/yr vs 0.76%/yr for ENCC.TO.
Performance
PPLN.TO vs. ENCC.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with PPLN.TO having a 29.04% return and ENCC.TO slightly lower at 29.01%. Over the past 10 years, PPLN.TO has outperformed ENCC.TO with an annualized return of 10.87%, while ENCC.TO has yielded a comparatively lower 8.49% annualized return.
PPLN.TO
- 1D
- -0.24%
- 1M
- 6.16%
- YTD
- 29.04%
- 6M
- 28.59%
- 1Y
- 39.15%
- 3Y*
- 18.78%
- 5Y*
- 14.07%
- 10Y*
- 10.87%
ENCC.TO
- 1D
- 0.93%
- 1M
- 2.37%
- YTD
- 29.01%
- 6M
- 25.71%
- 1Y
- 41.57%
- 3Y*
- 22.89%
- 5Y*
- 25.31%
- 10Y*
- 8.49%
PPLN.TO vs. ENCC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PPLN.TO Global X Equal Weight Canadian Pipelines Index ETF | 29.04% | 4.14% | 17.18% | 8.45% | 16.63% | 33.83% | -17.80% | 20.50% | -11.54% | -2.67% |
ENCC.TO Global X Canadian Oil and Gas Equity Covered Call ETF | 29.01% | 13.13% | 17.39% | 5.72% | 41.33% | 80.55% | -27.98% | 6.54% | -31.00% | -18.47% |
Correlation
The correlation between PPLN.TO and ENCC.TO is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2014 | 0.56 |
The correlation between PPLN.TO and ENCC.TO shifts across timeframes, from 0.51 (3 years) to 0.62 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PPLN.TO vs. ENCC.TO — Risk / Return Rank
PPLN.TO
ENCC.TO
PPLN.TO vs. ENCC.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Equal Weight Canadian Pipelines Index ETF (PPLN.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.
| PPLN.TO | ENCC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.53 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.85 | 4.93 | -1.08 |
| Martin ratioReturn relative to average drawdown | 10.25 | 17.54 | -7.28 |
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
| PPLN.TO | ENCC.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.73 | 2.98 | -0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.81 | 1.11 | -0.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.47 | 0.29 | +0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 0.00 | +0.33 |
Drawdowns
PPLN.TO vs. ENCC.TO - Drawdown Comparison
The maximum PPLN.TO drawdown since its inception was -59.05%, smaller than the maximum ENCC.TO drawdown of -89.91%. Use the drawdown chart below to compare losses from any high point for PPLN.TO and ENCC.TO.
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Drawdown Indicators
| PPLN.TO | ENCC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.05% | -89.91% | +30.86% |
Max Drawdown (1Y)Largest decline over 1 year | -10.22% | -8.48% | -1.74% |
Max Drawdown (3Y)Largest decline over 3 years | -15.31% | -16.67% | +1.36% |
Max Drawdown (5Y)Largest decline over 5 years | -18.54% | -25.57% | +7.03% |
Max Drawdown (10Y)Largest decline over 10 years | -59.05% | -82.16% | +23.11% |
Current DrawdownCurrent decline from peak | -2.93% | -1.99% | -0.94% |
Average DrawdownAverage peak-to-trough decline | -9.47% | -39.82% | +30.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.84% | 2.38% | +1.46% |
Volatility
PPLN.TO vs. ENCC.TO - Volatility Comparison
Global X Equal Weight Canadian Pipelines Index ETF (PPLN.TO) and Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.TO) have volatilities of 5.77% and 5.66%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PPLN.TO | ENCC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.77% | 5.66% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 11.56% | 12.36% | -0.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.40% | 14.08% | +0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.40% | 23.03% | -5.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.20% | 29.05% | -5.85% |
PPLN.TO vs. ENCC.TO - Expense Ratio Comparison
PPLN.TO has a 0.31% expense ratio, which is lower than ENCC.TO's 0.76% expense ratio.
Dividends
PPLN.TO vs. ENCC.TO - Dividend Comparison
PPLN.TO's dividend yield for the trailing twelve months is around 4.26%, less than ENCC.TO's 11.09% yield.
| 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 | 11.09% | 13.62% | 14.58% | 14.87% | 12.55% | 4.23% | 5.10% | 6.09% | 8.35% | 6.92% | 4.77% | 15.15% |
PPLN.TO Global X Equal Weight Canadian Pipelines Index ETF | 4.26% | 4.35% | 2.94% | 3.77% | 3.23% | 3.47% | 5.76% | 4.40% | 5.21% | 4.31% | 3.99% | 4.41% |
Frequently Asked Questions
PPLN.TO and ENCC.TO have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PPLN.TO is cheaper at 0.31% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PPLN.TO is cheaper with a 0.31% expense ratio, compared with 0.76% for ENCC.TO.
PPLN.TO is categorized as Energy Equities, while ENCC.TO is Derivative Income. Their fees differ too: 0.31% for PPLN.TO and 0.76% for ENCC.TO.
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