RCDC.TO vs. EMCL.NEO
RCDC.TO (RBC Canadian Dividend Covered Call ETF) and EMCL.NEO (Global X Enhanced MSCI Emerging Markets Covered Call ETF) are both Derivative Income funds. Both are actively managed. Over the past year, RCDC.TO returned 29.08% vs 56.02% for EMCL.NEO. At a 0.27 correlation, their price movements are largely independent.
Performance
RCDC.TO vs. EMCL.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, RCDC.TO achieves a 12.49% return, which is significantly lower than EMCL.NEO's 27.22% return.
RCDC.TO
- 1D
- 0.08%
- 1M
- 4.61%
- YTD
- 12.49%
- 6M
- 14.54%
- 1Y
- 29.08%
- 3Y*
- 18.86%
- 5Y*
- —
- 10Y*
- —
EMCL.NEO
- 1D
- -0.68%
- 1M
- 11.93%
- YTD
- 27.22%
- 6M
- 27.94%
- 1Y
- 56.02%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
RCDC.TO vs. EMCL.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
RCDC.TO RBC Canadian Dividend Covered Call ETF | 12.49% | 19.29% | 11.86% |
EMCL.NEO Global X Enhanced MSCI Emerging Markets Covered Call ETF | 27.22% | 23.04% | 7.65% |
Correlation
The correlation between RCDC.TO and EMCL.NEO is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since May 30, 2024 | 0.27 |
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Return for Risk
RCDC.TO vs. EMCL.NEO — Risk / Return Rank
RCDC.TO
EMCL.NEO
RCDC.TO vs. EMCL.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for RBC Canadian Dividend Covered Call ETF (RCDC.TO) and Global X Enhanced MSCI Emerging Markets Covered Call ETF (EMCL.NEO). 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.
| RCDC.TO | EMCL.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.50 | ||
| Sortino ratioReturn per unit of downside risk | +1.35 | ||
| Omega ratioGain probability vs. loss probability | 1.67 | 1.65 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 5.38 | 4.29 | +1.09 |
| Martin ratioReturn relative to average drawdown | 26.80 | 15.90 | +10.90 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| RCDC.TO | EMCL.NEO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.54 | 3.04 | +0.50 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.50 | 1.57 | -0.07 |
Drawdowns
RCDC.TO vs. EMCL.NEO - Drawdown Comparison
The maximum RCDC.TO drawdown since its inception was -10.88%, smaller than the maximum EMCL.NEO drawdown of -19.19%. Use the drawdown chart below to compare losses from any high point for RCDC.TO and EMCL.NEO.
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Drawdown Indicators
| RCDC.TO | EMCL.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.88% | -19.19% | +8.31% |
Max Drawdown (1Y)Largest decline over 1 year | -5.43% | -13.12% | +7.69% |
Max Drawdown (3Y)Largest decline over 3 years | -10.88% | — | — |
Current DrawdownCurrent decline from peak | -0.19% | -0.68% | +0.49% |
Average DrawdownAverage peak-to-trough decline | -1.87% | -2.47% | +0.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.09% | 3.53% | -2.44% |
Volatility
RCDC.TO vs. EMCL.NEO - Volatility Comparison
The current volatility for RBC Canadian Dividend Covered Call ETF (RCDC.TO) is 2.49%, while Global X Enhanced MSCI Emerging Markets Covered Call ETF (EMCL.NEO) has a volatility of 7.86%. This indicates that RCDC.TO experiences smaller price fluctuations and is considered to be less risky than EMCL.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RCDC.TO | EMCL.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.49% | 7.86% | -5.37% |
Volatility (6M)Calculated over the trailing 6-month period | 6.71% | 16.41% | -9.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.25% | 18.54% | -10.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.15% | 19.00% | -8.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.15% | 19.00% | -8.85% |
Dividends
RCDC.TO vs. EMCL.NEO - Dividend Comparison
RCDC.TO's dividend yield for the trailing twelve months is around 6.33%, less than EMCL.NEO's 10.17% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
EMCL.NEO Global X Enhanced MSCI Emerging Markets Covered Call ETF | 10.17% | 11.76% | 7.24% | 0.00% |
RCDC.TO RBC Canadian Dividend Covered Call ETF | 6.33% | 6.38% | 6.46% | 6.49% |
Frequently Asked Questions
RCDC.TO and EMCL.NEO have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: RBC and Global X.
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