UTES.TO vs. EMCL.NEO
UTES.TO (Evolve Canadian Utilities Enhanced Yield Index Fund 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, UTES.TO returned 28.09% vs 48.25% for EMCL.NEO. At a correlation of -0.04, they often move in opposite directions.
Performance
UTES.TO vs. EMCL.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, UTES.TO achieves a 14.55% return, which is significantly lower than EMCL.NEO's 28.01% return.
UTES.TO
- 1D
- -0.31%
- 1M
- 0.20%
- YTD
- 14.55%
- 6M
- 16.29%
- 1Y
- 28.09%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EMCL.NEO
- 1D
- 0.84%
- 1M
- 3.55%
- YTD
- 28.01%
- 6M
- 29.37%
- 1Y
- 48.25%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UTES.TO vs. EMCL.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund ETF | 14.55% | 18.66% | -4.15% |
EMCL.NEO Global X Enhanced MSCI Emerging Markets Covered Call ETF | 28.01% | 20.46% | 4.25% |
Correlation
The correlation between UTES.TO and EMCL.NEO is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (All Time) Calculated using the full available price history since Sep 4, 2024 | -0.04 |
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Return for Risk
UTES.TO vs. EMCL.NEO — Risk / Return Rank
UTES.TO
EMCL.NEO
UTES.TO vs. EMCL.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Evolve Canadian Utilities Enhanced Yield Index Fund ETF (UTES.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.
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.
| UTES.TO | EMCL.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.74 | ||
| Sortino ratioReturn per unit of downside risk | +1.51 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.45 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 4.41 | 3.79 | +0.63 |
| Martin ratioReturn relative to average drawdown | 13.96 | 13.57 | +0.39 |
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Drawdowns
UTES.TO vs. EMCL.NEO - Drawdown Comparison
The maximum UTES.TO drawdown since its inception was -10.19%, smaller than the maximum EMCL.NEO drawdown of -19.73%. Use the drawdown chart below to compare losses from any high point for UTES.TO and EMCL.NEO.
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Drawdown Indicators
| UTES.TO | EMCL.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.19% | -19.73% | +9.54% |
Max Drawdown (1Y)Largest decline over 1 year | -6.39% | -13.12% | +6.73% |
Current DrawdownCurrent decline from peak | -0.92% | -3.84% | +2.92% |
Average DrawdownAverage peak-to-trough decline | -2.55% | -2.57% | +0.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.02% | 3.62% | -1.60% |
Volatility
UTES.TO vs. EMCL.NEO - Volatility Comparison
The current volatility for Evolve Canadian Utilities Enhanced Yield Index Fund ETF (UTES.TO) is 3.58%, while Global X Enhanced MSCI Emerging Markets Covered Call ETF (EMCL.NEO) has a volatility of 12.62%. This indicates that UTES.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
| UTES.TO | EMCL.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.58% | 12.62% | -9.04% |
Volatility (6M)Calculated over the trailing 6-month period | 7.52% | 20.77% | -13.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.60% | 22.46% | -12.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.06% | 23.00% | -11.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.06% | 23.00% | -11.94% |
Dividends
UTES.TO vs. EMCL.NEO - Dividend Comparison
UTES.TO's dividend yield for the trailing twelve months is around 17.18%, more than EMCL.NEO's 10.11% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
EMCL.NEO Global X Enhanced MSCI Emerging Markets Covered Call ETF | 10.11% | 9.86% | 3.10% |
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund ETF | 17.18% | 18.30% | 6.05% |
Frequently Asked Questions
UTES.TO and EMCL.NEO have a correlation of -0.12, 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: Evolve and Global X.
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