QQCL.TO vs. HDIV.TO

Last updated Jun 4, 2026

QQCL.TO (Global X Enhanced NASDAQ-100 Covered Call ETF) and HDIV.TO (Hamilton Enhanced Multi-Sector Covered Call ETF) are both exchange-traded funds - QQCL.TO is a Nasdaq-100 fund actively managed by Global X, while HDIV.TO is a Derivative Income fund actively managed by Hamilton Capital. Both are actively managed. Over the past year, QQCL.TO returned 43.99% vs 45.50% for HDIV.TO. A 0.57 correlation means they provide meaningful diversification when combined. QQCL.TO charges 0.85%/yr vs 0.00%/yr for HDIV.TO.

Performance

QQCL.TO vs. HDIV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Enhanced NASDAQ-100 Covered Call ETF (QQCL.TO) and Hamilton Enhanced Multi-Sector Covered Call ETF (HDIV.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQCL.TO achieves a 20.85% return, which is significantly higher than HDIV.TO's 16.21% return.

QQCL.TO

• 1D: 0.47%
• 1M: 12.39%
• YTD: 20.85%
• 6M: 17.94%
• 1Y: 43.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HDIV.TO

• 1D: -0.26%
• 1M: 6.14%
• YTD: 16.21%
• 6M: 17.63%
• 1Y: 45.50%
• 3Y*: 27.58%
• 5Y*: —
• 10Y*: —

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

QQCL.TO vs. HDIV.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
QQCL.TO Global X Enhanced NASDAQ-100 Covered Call ETF	20.85%	13.10%	41.38%	5.48%
HDIV.TO Hamilton Enhanced Multi-Sector Covered Call ETF	16.21%	33.87%	23.15%	8.86%

Correlation

The correlation between QQCL.TO and HDIV.TO is 0.56, 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	0.56
Correlation (All Time) Calculated using the full available price history since Oct 12, 2023	0.57

The correlation between QQCL.TO and HDIV.TO has been stable across timeframes, ranging from 0.56 to 0.57 - a consistent structural relationship.

QQCL.TO vs. HDIV.TO - Sectors Allocation Comparison

Sectors	QQCL.TO	HDIV.TO
Technology	50.0%	9.5%
Communication Services	16.4%	6.3%
Consumer Cyclical	12.5%	2.5%
Consumer Defensive	8.6%	0.3%
Healthcare	5.3%	0.2%
Industrials	3.4%	3.0%
Utilities	1.6%	4.7%
Basic Materials	1.3%	13.4%
Energy	0.6%	18.4%
Financial Services	0.2%	39.8%
Real Estate	0.1%	2.1%

Return for Risk

QQCL.TO vs. HDIV.TO — Risk / Return Rank

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

QQCL.TO

QQCL.TO Risk / Return Rank: 81
QQCL.TO Sharpe Ratio Rank: 84
QQCL.TO Sortino Ratio Rank: 80
QQCL.TO Omega Ratio Rank: 82
QQCL.TO Calmar Ratio Rank: 79
QQCL.TO Martin Ratio Rank: 78

HDIV.TO

HDIV.TO Risk / Return Rank: 92
HDIV.TO Sharpe Ratio Rank: 94
HDIV.TO Sortino Ratio Rank: 93
HDIV.TO Omega Ratio Rank: 94
HDIV.TO Calmar Ratio Rank: 88
HDIV.TO Martin Ratio Rank: 93

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.

QQCL.TO vs. HDIV.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Enhanced NASDAQ-100 Covered Call ETF (QQCL.TO) and Hamilton Enhanced Multi-Sector Covered Call ETF (HDIV.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.

	QQCL.TO	HDIV.TO	Difference
Sharpe ratio Return per unit of total volatility	2.81	3.67	-0.86
Sortino ratio Return per unit of downside risk	3.65	4.70	-1.06
Omega ratio Gain probability vs. loss probability	1.51	1.68	-0.17
Calmar ratio Return relative to maximum drawdown	4.14	5.24	-1.10
Martin ratio Return relative to average drawdown	15.49	25.39	-9.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QQCL.TO vs. HDIV.TO - Sharpe Ratio Comparison

The current QQCL.TO Sharpe Ratio is 2.81, which is comparable to the HDIV.TO Sharpe Ratio of 3.67. The chart below compares the historical Sharpe Ratios of QQCL.TO and HDIV.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	QQCL.TO	HDIV.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.81	3.67	-0.86
Sharpe Ratio (All Time) Calculated using the full available price history	1.52	1.26	+0.26

Drawdowns

QQCL.TO vs. HDIV.TO - Drawdown Comparison

The maximum QQCL.TO drawdown since its inception was -25.63%, which is greater than HDIV.TO's maximum drawdown of -22.32%. Use the drawdown chart below to compare losses from any high point for QQCL.TO and HDIV.TO.

Drawdown Indicators

	QQCL.TO	HDIV.TO	Difference
Max Drawdown Largest peak-to-trough decline	-25.63%	-22.32%	-3.31%
Max Drawdown (1Y) Largest decline over 1 year	-10.68%	-8.73%	-1.95%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.58%	—
Current Drawdown Current decline from peak	0.00%	-0.63%	+0.63%
Average Drawdown Average peak-to-trough decline	-3.32%	-4.22%	+0.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.85%	1.80%	+1.05%

Volatility

QQCL.TO vs. HDIV.TO - Volatility Comparison

Global X Enhanced NASDAQ-100 Covered Call ETF (QQCL.TO) has a higher volatility of 4.30% compared to Hamilton Enhanced Multi-Sector Covered Call ETF (HDIV.TO) at 3.80%. This indicates that QQCL.TO's price experiences larger fluctuations and is considered to be riskier than HDIV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQCL.TO	HDIV.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.30%	3.80%	+0.50%
Volatility (6M) Calculated over the trailing 6-month period	12.58%	10.29%	+2.29%
Volatility (1Y) Calculated over the trailing 1-year period	15.74%	12.47%	+3.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.38%	15.63%	+4.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.38%	15.63%	+4.75%

QQCL.TO vs. HDIV.TO - Expense Ratio Comparison

QQCL.TO has a 0.85% expense ratio, which is higher than HDIV.TO's 0.00% expense ratio.

Dividends

QQCL.TO vs. HDIV.TO - Dividend Comparison

QQCL.TO's dividend yield for the trailing twelve months is around 13.15%, more than HDIV.TO's 9.33% yield.

Position	TTM	2025	2024	2023	2022	2021
HDIV.TO Hamilton Enhanced Multi-Sector Covered Call ETF	9.33%	10.09%	11.38%	10.41%	9.64%	3.39%
QQCL.TO Global X Enhanced NASDAQ-100 Covered Call ETF	13.15%	14.54%	11.87%	3.68%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QQCL.TO and HDIV.TO in my portfolio?

QQCL.TO and HDIV.TO have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QQCL.TO or HDIV.TO?

On fees, HDIV.TO is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QQCL.TO or HDIV.TO?

HDIV.TO is cheaper with a 0.00% expense ratio, compared with 0.85% for QQCL.TO.

What is the main difference between QQCL.TO and HDIV.TO?

QQCL.TO is categorized as Nasdaq-100, while HDIV.TO is Derivative Income. They also come from different issuers: Global X and Hamilton Capital. Their fees differ too: 0.85% for QQCL.TO and 0.00% for HDIV.TO.