SVR.TO vs. ENCL.TO
SVR.TO (iShares Silver Bullion ETF) and ENCL.TO (Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD) are both exchange-traded funds - SVR.TO is a Silver fund tracking the LBMA Silver Price, while ENCL.TO is a Oil & Gas fund actively managed by Global X. SVR.TO is passively managed, while ENCL.TO is actively managed. Over the past year, SVR.TO returned 106.41% vs 55.71% for ENCL.TO. At a 0.13 correlation, their price movements are largely independent. SVR.TO charges 0.66%/yr vs 1.86%/yr for ENCL.TO.
Performance
SVR.TO vs. ENCL.TO - Performance Comparison
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Returns By Period
In the year-to-date period, SVR.TO achieves a 2.55% return, which is significantly lower than ENCL.TO's 37.98% return.
SVR.TO
- 1D
- 0.77%
- 1M
- 1.55%
- YTD
- 2.55%
- 6M
- 27.55%
- 1Y
- 106.41%
- 3Y*
- 43.28%
- 5Y*
- 19.20%
- 10Y*
- 13.98%
ENCL.TO
- 1D
- 1.03%
- 1M
- 3.49%
- YTD
- 37.98%
- 6M
- 33.14%
- 1Y
- 55.71%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SVR.TO vs. ENCL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SVR.TO iShares Silver Bullion ETF | 2.55% | 140.56% | 18.71% | 7.87% |
ENCL.TO Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD | 37.98% | 14.97% | 20.32% | -3.43% |
Correlation
The correlation between SVR.TO and ENCL.TO is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 2023 | 0.13 |
The correlation between SVR.TO and ENCL.TO shifts across timeframes, from 0.02 (1 year) to 0.13 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SVR.TO vs. ENCL.TO — Risk / Return Rank
SVR.TO
ENCL.TO
SVR.TO vs. ENCL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Silver Bullion ETF (SVR.TO) and Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD (ENCL.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.
| SVR.TO | ENCL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.31 | ||
| Sortino ratioReturn per unit of downside risk | -1.79 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.54 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.51 | 5.21 | -2.70 |
| Martin ratioReturn relative to average drawdown | 5.34 | 18.64 | -13.30 |
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
| SVR.TO | ENCL.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.86 | 3.17 | -1.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 1.30 | -1.03 |
Drawdowns
SVR.TO vs. ENCL.TO - Drawdown Comparison
The maximum SVR.TO drawdown since its inception was -77.85%, which is greater than ENCL.TO's maximum drawdown of -21.05%. Use the drawdown chart below to compare losses from any high point for SVR.TO and ENCL.TO.
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Drawdown Indicators
| SVR.TO | ENCL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.85% | -21.05% | -56.80% |
Max Drawdown (1Y)Largest decline over 1 year | -42.63% | -10.75% | -31.88% |
Max Drawdown (3Y)Largest decline over 3 years | -42.63% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -42.63% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -45.52% | — | — |
Current DrawdownCurrent decline from peak | -37.16% | -1.54% | -35.62% |
Average DrawdownAverage peak-to-trough decline | -50.34% | -3.94% | -46.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.99% | 3.00% | +16.99% |
Volatility
SVR.TO vs. ENCL.TO - Volatility Comparison
iShares Silver Bullion ETF (SVR.TO) has a higher volatility of 16.52% compared to Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD (ENCL.TO) at 7.34%. This indicates that SVR.TO's price experiences larger fluctuations and is considered to be riskier than ENCL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SVR.TO | ENCL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.52% | 7.34% | +9.18% |
Volatility (6M)Calculated over the trailing 6-month period | 56.28% | 15.68% | +40.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.68% | 17.73% | +39.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.45% | 20.15% | +16.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.51% | 20.15% | +12.36% |
SVR.TO vs. ENCL.TO - Expense Ratio Comparison
SVR.TO has a 0.66% expense ratio, which is lower than ENCL.TO's 1.86% expense ratio.
Dividends
SVR.TO vs. ENCL.TO - Dividend Comparison
SVR.TO has not paid dividends to shareholders, while ENCL.TO's dividend yield for the trailing twelve months is around 13.22%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
ENCL.TO Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD | 13.22% | 17.14% | 18.56% | 4.68% |
SVR.TO iShares Silver Bullion ETF | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SVR.TO and ENCL.TO have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SVR.TO is cheaper at 0.66% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SVR.TO is cheaper with a 0.66% expense ratio, compared with 1.86% for ENCL.TO.
SVR.TO is categorized as Silver, while ENCL.TO is Oil & Gas. They also come from different issuers: iShares and Global X. Their fees differ too: 0.66% for SVR.TO and 1.86% for ENCL.TO.
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