USCC-U.TO vs. CBIL.TO
USCC-U.TO (Global X S&P 500 Covered Call ETF) and CBIL.TO (Global X 0-3 Month T-Bill ETF) are both exchange-traded funds - USCC-U.TO is a S&P 500 fund actively managed by Global X, while CBIL.TO is a Canadian Government Bonds fund actively managed by Global X. Both are actively managed. Over the past 3 years, USCC-U.TO returned 16.01%/yr vs 1.18%/yr for CBIL.TO. At a 0.16 correlation, their price movements are largely independent.
Performance
USCC-U.TO vs. CBIL.TO - Performance Comparison
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Different Trading Currencies
USCC-U.TO is traded in USD, while CBIL.TO is traded in CAD. To make them comparable, the CBIL.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, USCC-U.TO achieves a 7.58% return, which is significantly higher than CBIL.TO's -1.47% return.
USCC-U.TO
- 1D
- 0.13%
- 1M
- 1.98%
- 6M
- 7.58%
- YTD
- 7.58%
- 1Y
- 19.02%
- 3Y*
- 16.01%
- 5Y*
- 9.76%
- 10Y*
- 11.82%
CBIL.TO
- 1D
- 0.70%
- 1M
- -0.47%
- 6M
- -0.11%
- YTD
- -1.47%
- 1Y
- -0.23%
- 3Y*
- 1.18%
- 5Y*
- —
- 10Y*
- —
USCC-U.TO vs. CBIL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
USCC-U.TO Global X S&P 500 Covered Call ETF | 7.58% | 14.45% | 22.34% | 12.39% |
CBIL.TO Global X 0-3 Month T-Bill ETF | -1.47% | 7.59% | -3.68% | 4.22% |
Correlation
The correlation between USCC-U.TO and CBIL.TO is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Apr 14, 2023 | 0.16 |
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Return for Risk
USCC-U.TO vs. CBIL.TO — Risk / Return Rank
USCC-U.TO
CBIL.TO
USCC-U.TO vs. CBIL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X S&P 500 Covered Call ETF (USCC-U.TO) and Global X 0-3 Month T-Bill ETF (CBIL.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| USCC-U.TO | CBIL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.92 | ||
| Sortino ratioReturn per unit of downside risk | +2.60 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 0.99 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 2.47 | -0.05 | +2.53 |
| Martin ratioReturn relative to average drawdown | 10.91 | -0.12 | +11.04 |
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Drawdowns
USCC-U.TO vs. CBIL.TO - Drawdown Comparison
The maximum USCC-U.TO drawdown since its inception was -41.14%, which is greater than CBIL.TO's maximum drawdown of -7.62%. Use the drawdown chart below to compare losses from any high point for USCC-U.TO and CBIL.TO.
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Drawdown Indicators
| USCC-U.TO | CBIL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.14% | -7.62% | -33.52% |
Max Drawdown (1Y)Largest decline over 1 year | -7.72% | -4.41% | -3.31% |
Max Drawdown (3Y)Largest decline over 3 years | -17.00% | -7.62% | -9.38% |
Max Drawdown (5Y)Largest decline over 5 years | -23.14% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -41.14% | — | — |
Current DrawdownCurrent decline from peak | -0.70% | -3.07% | +2.37% |
Average DrawdownAverage peak-to-trough decline | -5.21% | -1.92% | -3.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.75% | 1.87% | -0.12% |
Volatility
USCC-U.TO vs. CBIL.TO - Volatility Comparison
Global X S&P 500 Covered Call ETF (USCC-U.TO) has a higher volatility of 2.94% compared to Global X 0-3 Month T-Bill ETF (CBIL.TO) at 1.29%. This indicates that USCC-U.TO's price experiences larger fluctuations and is considered to be riskier than CBIL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USCC-U.TO | CBIL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.94% | 1.29% | +1.65% |
Volatility (6M)Calculated over the trailing 6-month period | 8.28% | 3.31% | +4.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.24% | 4.36% | +5.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.73% | 5.39% | +9.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.43% | 5.39% | +19.04% |
Dividends
USCC-U.TO vs. CBIL.TO - Dividend Comparison
USCC-U.TO's dividend yield for the trailing twelve months is around 9.66%, more than CBIL.TO's 2.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CBIL.TO Global X 0-3 Month T-Bill ETF | 2.25% | 2.58% | 4.38% | 3.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USCC-U.TO Global X S&P 500 Covered Call ETF | 9.66% | 9.88% | 10.20% | 11.22% | 10.76% | 5.11% | 4.95% | 5.09% | 6.49% | 5.36% | 5.62% | 6.13% |
Frequently Asked Questions
USCC-U.TO and CBIL.TO have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USCC-U.TO is categorized as S&P 500, while CBIL.TO is Canadian Government Bonds.
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