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USCL.TO vs. PINC.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

USCL.TO vs. PINC.TO

Last updated Aug 4, 2026
Documentation

USCL.TO (Global X Enhanced S&P 500 Covered Call ETF) and PINC.TO (Purpose Multi-Asset Income Fund) are both Derivative Income funds. Both are actively managed. Over the past 3 years, USCL.TO returned 20.61%/yr vs 14.78%/yr for PINC.TO. Their 0.20 correlation means their historical movements had little consistent relationship. USCL.TO charges 1.61%/yr vs 1.04%/yr for PINC.TO.

Performance

USCL.TO vs. PINC.TO - 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 Purpose Multi-Asset Income Fund (PINC.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, USCL.TO achieves a 13.52% return, which is significantly lower than PINC.TO's 17.29% return.

USCL.TO

1D
1.00%
1M
-1.00%
6M
11.28%
YTD
13.52%
1Y
25.69%
3Y*
20.61%
5Y*
—
10Y*
—
ALL TIME*
22.92%

PINC.TO

1D
-0.26%
1M
1.34%
6M
14.51%
YTD
17.29%
1Y
24.86%
3Y*
14.78%
5Y*
6.76%
10Y*
—
ALL TIME*
6.95%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

PINC.TO

Purpose Multi-Asset Income Fund
CA$17.08KCA$13.56KCA$13.69K

USCL.TO

Global X Enhanced S&P 500 Covered Call ETF
CA$343.51KCA$425.87KCA$508.08K

USCL.TO vs. PINC.TO - Yearly Performance Comparison

2026 (YTD)202520242023
USCL.TO
Global X Enhanced S&P 500 Covered Call ETF		13.52%10.03%38.54%8.88%
PINC.TO
Purpose Multi-Asset Income Fund		17.29%14.41%11.54%0.81%

Correlation

The correlation between USCL.TO and PINC.TO is 0.22, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.22

Correlation (3Y)
Balances recent behavior with more history.

0.20

Correlation (All Time)
Calculated using the full available price history since Jul 6, 2023

0.20

Compare stocks, funds, or ETFs

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Global X Enhanced S&P 500 Covered Call ETF

Purpose Multi-Asset Income Fund

Often compared with USCL.TO:
USCL.TO vs. HYLD.TOUSCL.TO vs. MSTE.TOUSCL.TO vs. VFV.TOUSCL.TO vs. SDAY.NEOUSCL.TO vs. QQCL.TOUSCL.TO vs. QQQYUSCL.TO vs. TSLA.TO
Often compared with PINC.TO:
PINC.TO vs. MNY.TOPINC.TO vs. RATE.TOPINC.TO vs. CIF.TOPINC.TO vs. XUT.TOPINC.TO vs. HEQT.TOPINC.TO vs. FIE.TOPINC.TO vs. PDIV.TO

Return for Risk

USCL.TO vs. PINC.TO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
USCL.TO
USCL.TO Risk / Return Rank: 7777
Overall Rank
USCL.TO Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
USCL.TO Sortino Ratio Rank: 7474
Sortino Ratio Rank
USCL.TO Omega Ratio Rank: 7979
Omega Ratio Rank
USCL.TO Calmar Ratio Rank: 7575
Calmar Ratio Rank
USCL.TO Martin Ratio Rank: 7979
Martin Ratio Rank
PINC.TO
PINC.TO Risk / Return Rank: 9797
Overall Rank
PINC.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
PINC.TO Sortino Ratio Rank: 9797
Sortino Ratio Rank
PINC.TO Omega Ratio Rank: 9797
Omega Ratio Rank
PINC.TO Calmar Ratio Rank: 9696
Calmar Ratio Rank
PINC.TO Martin Ratio Rank: 9696
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

USCL.TO vs. PINC.TO - 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 Purpose Multi-Asset Income Fund (PINC.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.

USCL.TOPINC.TODifference
Sharpe ratioReturn per unit of total volatility
1.81
3.78

-1.97

Sortino ratioReturn per unit of downside risk
2.46
5.37

-2.91

Omega ratioGain probability vs. loss probability

1.34

1.78

-0.45

Calmar ratioReturn relative to maximum drawdown

2.72

6.71

-3.99

Martin ratioReturn relative to average drawdown

10.58

26.05

-15.47

USCL.TO vs. PINC.TO - Sharpe Ratio Comparison

The current USCL.TO Sharpe Ratio is 1.81, which is lower than the PINC.TO Sharpe Ratio of 3.78. The chart below compares the historical Sharpe Ratios of USCL.TO and PINC.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.

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Drawdowns

USCL.TO vs. PINC.TO - Drawdown Comparison

The maximum USCL.TO drawdown since its inception was -21.85%, smaller than the maximum PINC.TO drawdown of -43.84%. Use the drawdown chart below to compare losses from any high point for USCL.TO and PINC.TO.

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Drawdown Indicators

USCL.TOPINC.TODifference

Max Drawdown

Largest peak-to-trough decline

-21.85%

-43.84%

+21.99%

Max Drawdown (1Y)

Largest decline over 1 year

-8.56%

-3.59%

-4.97%

Max Drawdown (3Y)

Largest decline over 3 years

-21.85%

-8.55%

-13.30%

Max Drawdown (5Y)

Largest decline over 5 years

—

-21.04%

—

Current Drawdown

Current decline from peak

-1.71%

-0.94%

-0.77%

Average Drawdown

Average peak-to-trough decline

-2.48%

-5.79%

+3.31%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.20%

0.92%

+1.28%

Volatility

USCL.TO vs. PINC.TO - Volatility Comparison

Global X Enhanced S&P 500 Covered Call ETF (USCL.TO) has a higher volatility of 4.20% compared to Purpose Multi-Asset Income Fund (PINC.TO) at 1.64%. This indicates that USCL.TO's price experiences larger fluctuations and is considered to be riskier than PINC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

USCL.TOPINC.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.20%

1.64%

+2.56%

Volatility (6M)

Calculated over the trailing 6-month period

10.25%

5.04%

+5.21%

Volatility (1Y)

Calculated over the trailing 1-year period

12.86%

6.37%

+6.49%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.60%

8.38%

+7.22%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.60%

14.69%

+0.91%

USCL.TO vs. PINC.TO - Expense Ratio Comparison

USCL.TO has a 1.61% expense ratio, which is higher than PINC.TO's 1.04% expense ratio.

Dividends

USCL.TO vs. PINC.TO - Dividend Comparison

USCL.TO's dividend yield for the trailing twelve months is around 11.92%, more than PINC.TO's 4.43% yield.

PositionTTM20252024202320222021202020192018
PINC.TO
Purpose Multi-Asset Income Fund		4.43%5.05%5.48%5.78%5.51%4.60%5.33%5.06%3.66%
USCL.TO
Global X Enhanced S&P 500 Covered Call ETF		11.92%12.94%11.57%7.08%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

USCL.TO and PINC.TO have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, PINC.TO is cheaper at 1.04% per year. The better choice depends on whether you care most about return, fees, risk, or income.

PINC.TO is cheaper with a 1.04% expense ratio, compared with 1.61% for USCL.TO.

They also come from different issuers: Global X and Purpose. Their fees differ too: 1.61% for USCL.TO and 1.04% for PINC.TO.

Portfolio Optimizer

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