USCL.TO vs. IDVO

Last updated Jun 24, 2026

USCL.TO (Global X Enhanced S&P 500 Covered Call ETF) and IDVO (Amplify CWP International Enhanced Dividend Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, USCL.TO returned 28.99% vs 36.76% for IDVO. At a 0.39 correlation, their price movements are largely independent. USCL.TO charges 0.04%/yr vs 0.65%/yr for IDVO.

Performance

USCL.TO vs. IDVO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Enhanced S&P 500 Covered Call ETF (USCL.TO) and Amplify CWP International Enhanced Dividend Income ETF (IDVO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

USCL.TO is traded in CAD, while IDVO is traded in USD. To make them comparable, the IDVO values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, USCL.TO achieves a 12.30% return, which is significantly lower than IDVO's 15.49% return.

USCL.TO

• 1D: -1.05%
• 1M: 2.26%
• YTD: 12.30%
• 6M: 11.79%
• 1Y: 28.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IDVO

• 1D: -1.76%
• 1M: 1.66%
• YTD: 15.49%
• 6M: 14.28%
• 1Y: 36.76%
• 3Y*: 25.05%
• 5Y*: —
• 10Y*: —

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

USCL.TO vs. IDVO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
USCL.TO Global X Enhanced S&P 500 Covered Call ETF	12.30%	10.03%	38.54%	8.88%
IDVO Amplify CWP International Enhanced Dividend Income ETF	15.49%	30.23%	19.49%	7.31%

Correlation

The correlation between USCL.TO and IDVO is 0.53, 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	0.53
Correlation (All Time) Calculated using the full available price history since Jul 6, 2023	0.39

The correlation between USCL.TO and IDVO shifts across timeframes, from 0.39 (all time) to 0.53 (1 year), reflecting how their relationship changes across market environments.

USCL.TO vs. IDVO - Sectors Allocation Comparison

Sectors	USCL.TO	IDVO
Technology	35.6%	10.7%
Financial Services	11.8%	19.9%
Communication Services	11.2%	10.3%
Consumer Cyclical	10.1%	3.2%
Healthcare	8.5%	7.8%
Industrials	8.3%	7.2%
Consumer Defensive	4.9%	8.2%
Energy	3.5%	12.5%
Utilities	2.4%	3.2%
Real Estate	1.9%	-
Basic Materials	1.8%	17.1%

Return for Risk

USCL.TO vs. IDVO — Risk / Return Rank

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

USCL.TO

USCL.TO Risk / Return Rank: 76
USCL.TO Sharpe Ratio Rank: 78
USCL.TO Sortino Ratio Rank: 75
USCL.TO Omega Ratio Rank: 81
USCL.TO Calmar Ratio Rank: 71
USCL.TO Martin Ratio Rank: 75

IDVO

IDVO Risk / Return Rank: 64
IDVO Sharpe Ratio Rank: 63
IDVO Sortino Ratio Rank: 60
IDVO Omega Ratio Rank: 63
IDVO Calmar Ratio Rank: 66
IDVO Martin Ratio Rank: 68

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.

USCL.TO vs. IDVO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Enhanced S&P 500 Covered Call ETF (USCL.TO) and Amplify CWP International Enhanced Dividend Income ETF (IDVO). 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.

	USCL.TO	IDVO	Difference
Sharpe ratio: Return per unit of total volatility	2.37	2.21	+0.16
Sortino ratio: Return per unit of downside risk	3.17	2.97	+0.21
Omega ratio: Gain probability vs. loss probability	1.45	1.39	+0.06
Calmar ratio: Return relative to maximum drawdown	3.40	3.64	-0.24
Martin ratio: Return relative to average drawdown	13.68	14.16	-0.49

USCL.TO vs. IDVO - Sharpe Ratio Comparison

The current USCL.TO Sharpe Ratio is 2.37, which is comparable to the IDVO Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of USCL.TO and IDVO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

USCL.TO vs. IDVO - Drawdown Comparison

The maximum USCL.TO drawdown since its inception was -21.85%, which is greater than IDVO's maximum drawdown of -15.97%. Use the drawdown chart below to compare losses from any high point for USCL.TO and IDVO.

Drawdown Indicators

	USCL.TO	IDVO	Difference
Max Drawdown Largest peak-to-trough decline	-21.85%	-15.97%	-5.88%
Max Drawdown (1Y) Largest decline over 1 year	-8.56%	-10.14%	+1.58%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.97%	—
Current Drawdown Current decline from peak	-1.13%	-1.76%	+0.63%
Average Drawdown Average peak-to-trough decline	-2.52%	-1.87%	-0.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.13%	2.60%	-0.47%

Volatility

USCL.TO vs. IDVO - Volatility Comparison

The current volatility for Global X Enhanced S&P 500 Covered Call ETF (USCL.TO) is 4.47%, while Amplify CWP International Enhanced Dividend Income ETF (IDVO) has a volatility of 6.38%. This indicates that USCL.TO experiences smaller price fluctuations and is considered to be less risky than IDVO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USCL.TO	IDVO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.47%	6.38%	-1.91%
Volatility (6M) Calculated over the trailing 6-month period	10.00%	14.44%	-4.44%
Volatility (1Y) Calculated over the trailing 1-year period	12.32%	16.73%	-4.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.67%	17.41%	-1.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.67%	17.41%	-1.74%

USCL.TO vs. IDVO - Expense Ratio Comparison

USCL.TO has a 0.04% expense ratio, which is lower than IDVO's 0.65% expense ratio.

Dividends

USCL.TO vs. IDVO - Dividend Comparison

USCL.TO's dividend yield for the trailing twelve months is around 11.87%, more than IDVO's 5.60% yield.

Position	TTM	2025	2024	2023	2022
IDVO Amplify CWP International Enhanced Dividend Income ETF	5.60%	5.42%	6.14%	5.72%	1.96%
USCL.TO Global X Enhanced S&P 500 Covered Call ETF	11.87%	12.94%	11.57%	7.08%	0.00%

Frequently Asked Questions

Can I hold both USCL.TO and IDVO in my portfolio?

USCL.TO and IDVO have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, USCL.TO or IDVO?

On fees, USCL.TO is cheaper at 0.04% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, USCL.TO or IDVO?

USCL.TO is cheaper with a 0.04% expense ratio, compared with 0.65% for IDVO.

What is the main difference between USCL.TO and IDVO?

They also come from different issuers: Global X and Amplify. Their fees differ too: 0.04% for USCL.TO and 0.65% for IDVO.