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VEE.TO vs. ENCC.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VEE.TO vs. ENCC.TO

Last updated Aug 5, 2026
Documentation

VEE.TO (Vanguard FTSE Emerging Markets All Cap Index ETF) and ENCC.TO (Global X Canadian Oil and Gas Equity Covered Call ETF) are both exchange-traded funds - VEE.TO is a Emerging Markets Equities fund tracking the FTSE Emerging Markets All Cap China A Inclusion Index, while ENCC.TO is a Derivative Income fund tracking the Mirae Asset Equal Weight Canadian Oil & Gas Index. Both are passively managed. Over the past 10 years, VEE.TO returned 8.00%/yr vs 8.05%/yr for ENCC.TO. Their 0.27 correlation means their historical movements had little consistent relationship. VEE.TO charges 0.25%/yr vs 0.92%/yr for ENCC.TO.

Performance

VEE.TO vs. ENCC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.TO) and Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.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, VEE.TO achieves a 14.60% return, which is significantly lower than ENCC.TO's 29.35% return. Both investments have delivered pretty close results over the past 10 years, with VEE.TO having a 8.00% annualized return and ENCC.TO not far ahead at 8.05%.

VEE.TO

1D
2.73%
1M
-1.61%
6M
9.36%
YTD
14.60%
1Y
26.33%
3Y*
17.57%
5Y*
8.23%
10Y*
8.00%
ALL TIME*
7.52%

ENCC.TO

1D
-1.62%
1M
6.07%
6M
21.42%
YTD
29.35%
1Y
39.27%
3Y*
20.64%
5Y*
27.83%
10Y*
8.05%
ALL TIME*
-1.85%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

ENCC.TO

Global X Canadian Oil and Gas Equity Covered Call ETF
CA$1.77MCA$1.57MCA$2.00M

VEE.TO

Vanguard FTSE Emerging Markets All Cap Index ETF
CA$2.11MCA$2.98MCA$3.67M

VEE.TO vs. ENCC.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VEE.TO
Vanguard FTSE Emerging Markets All Cap Index ETF		14.60%19.32%19.06%6.24%-12.79%0.06%12.32%14.32%-7.93%22.60%
ENCC.TO
Global X Canadian Oil and Gas Equity Covered Call ETF		29.35%13.13%17.39%5.72%41.32%80.54%-27.98%6.56%-30.99%-18.47%

Correlation

The correlation between VEE.TO and ENCC.TO is -0.14, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

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

-0.14

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

0.10

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.14

Correlation (10Y)
Provides a long-term view across more market conditions.

0.21

Correlation (All Time)
Calculated using the full available price history since Dec 6, 2011

0.27

The correlation between VEE.TO and ENCC.TO shifts across timeframes, from -0.14 (1 year) to 0.27 (all time), reflecting how their relationship changes across market environments.

VEE.TO vs. ENCC.TO - Sectors Allocation Comparison

Sectors
VEE.TO
ENCC.TO

Technology

34.2%

-

Financial Services

18.0%

-

Consumer Cyclical

8.2%

-

Industrials

7.5%

-

Basic Materials

7.2%

-

Communication Services

6.5%

-

Healthcare

3.7%

-

Energy

3.4%
100.0%

Consumer Defensive

3.2%

-

Utilities

2.2%

-

Real Estate

1.7%

-

Technology

VEE.TO
34.2%
ENCC.TO

-

Financial Services

VEE.TO
18.0%
ENCC.TO

-

Consumer Cyclical

VEE.TO
8.2%
ENCC.TO

-

Industrials

VEE.TO
7.5%
ENCC.TO

-

Basic Materials

VEE.TO
7.2%
ENCC.TO

-

Communication Services

VEE.TO
6.5%
ENCC.TO

-

Healthcare

VEE.TO
3.7%
ENCC.TO

-

Energy

VEE.TO
3.4%
ENCC.TO
100.0%

Consumer Defensive

VEE.TO
3.2%
ENCC.TO

-

Utilities

VEE.TO
2.2%
ENCC.TO

-

Real Estate

VEE.TO
1.7%
ENCC.TO

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard FTSE Emerging Markets All Cap Index ETF

Global X Canadian Oil and Gas Equity Covered Call ETF

Often compared with VEE.TO:
VEE.TO vs. XEC.TOVEE.TO vs. ZEM.TOVEE.TO vs. VFV.TOVEE.TO vs. XEQT.TOVEE.TO vs. VIDY.TOVEE.TO vs. VOOVEE.TO vs. VXUS
Often compared with ENCC.TO:
ENCC.TO vs. ENCL.TOENCC.TO vs. EMAX.TOENCC.TO vs. ZEOENCC.TO vs. HMAX.TOENCC.TO vs. OILY.TOENCC.TO vs. XEQT.TOENCC.TO vs. XDIV.TO

Return for Risk

VEE.TO vs. ENCC.TO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
VEE.TO
VEE.TO Risk / Return Rank: 5757
Overall Rank
VEE.TO Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
VEE.TO Sortino Ratio Rank: 5555
Sortino Ratio Rank
VEE.TO Omega Ratio Rank: 5555
Omega Ratio Rank
VEE.TO Calmar Ratio Rank: 6262
Calmar Ratio Rank
VEE.TO Martin Ratio Rank: 5959
Martin Ratio Rank
ENCC.TO
ENCC.TO Risk / Return Rank: 8989
Overall Rank
ENCC.TO Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
ENCC.TO Sortino Ratio Rank: 8888
Sortino Ratio Rank
ENCC.TO Omega Ratio Rank: 8989
Omega Ratio Rank
ENCC.TO Calmar Ratio Rank: 9292
Calmar Ratio Rank
ENCC.TO Martin Ratio Rank: 8585
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.

VEE.TO vs. ENCC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.TO) and Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.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.

VEE.TOENCC.TODifference
Sharpe ratioReturn per unit of total volatility
1.51
2.55

-1.03

Sortino ratioReturn per unit of downside risk
2.14
3.31

-1.17

Omega ratioGain probability vs. loss probability

1.28

1.44

-0.16

Calmar ratioReturn relative to maximum drawdown

2.46

4.65

-2.19

Martin ratioReturn relative to average drawdown

7.88

13.32

-5.44

VEE.TO vs. ENCC.TO - Sharpe Ratio Comparison

The current VEE.TO Sharpe Ratio is 1.51, which is lower than the ENCC.TO Sharpe Ratio of 2.55. The chart below compares the historical Sharpe Ratios of VEE.TO and ENCC.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

VEE.TO vs. ENCC.TO - Drawdown Comparison

The maximum VEE.TO drawdown since its inception was -29.84%, smaller than the maximum ENCC.TO drawdown of -93.29%. Use the drawdown chart below to compare losses from any high point for VEE.TO and ENCC.TO.

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Drawdown Indicators

VEE.TOENCC.TODifference

Max Drawdown

Largest peak-to-trough decline

-29.84%

-93.29%

+63.45%

Max Drawdown (1Y)

Largest decline over 1 year

-10.74%

-8.48%

-2.26%

Max Drawdown (3Y)

Largest decline over 3 years

-14.97%

-16.67%

+1.70%

Max Drawdown (5Y)

Largest decline over 5 years

-25.82%

-25.58%

-0.24%

Max Drawdown (10Y)

Largest decline over 10 years

-29.84%

-82.15%

+52.31%

Current Drawdown

Current decline from peak

-2.44%

-25.54%

+23.10%

Average Drawdown

Average peak-to-trough decline

-8.67%

-55.77%

+47.10%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.35%

2.96%

+0.39%

Volatility

VEE.TO vs. ENCC.TO - Volatility Comparison

Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.TO) has a higher volatility of 6.23% compared to Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.TO) at 5.85%. This indicates that VEE.TO's price experiences larger fluctuations and is considered to be riskier than ENCC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VEE.TOENCC.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.23%

5.85%

+0.38%

Volatility (6M)

Calculated over the trailing 6-month period

15.26%

12.80%

+2.46%

Volatility (1Y)

Calculated over the trailing 1-year period

17.50%

15.51%

+1.99%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.65%

22.44%

-6.79%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.06%

29.01%

-11.95%

VEE.TO vs. ENCC.TO - Expense Ratio Comparison

VEE.TO has a 0.25% expense ratio, which is lower than ENCC.TO's 0.92% expense ratio.

Dividends

VEE.TO vs. ENCC.TO - Dividend Comparison

VEE.TO's dividend yield for the trailing twelve months is around 1.81%, less than ENCC.TO's 11.28% yield.

PositionTTM20252024202320222021202020192018201720162015
ENCC.TO
Global X Canadian Oil and Gas Equity Covered Call ETF		11.28%13.62%14.58%14.87%12.55%4.23%5.10%6.11%8.37%6.93%4.34%3.03%
VEE.TO
Vanguard FTSE Emerging Markets All Cap Index ETF		1.81%2.26%2.45%2.83%3.35%2.18%1.62%2.71%2.24%1.93%2.01%2.53%

Frequently Asked Questions

VEE.TO and ENCC.TO have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VEE.TO is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VEE.TO is cheaper with a 0.25% expense ratio, compared with 0.92% for ENCC.TO.

VEE.TO is categorized as Emerging Markets Equities, while ENCC.TO is Derivative Income. VEE.TO tracks FTSE Emerging Markets All Cap China A Inclusion Index, while ENCC.TO tracks Mirae Asset Equal Weight Canadian Oil & Gas Index. They also come from different issuers: Vanguard and Global X. Their fees differ too: 0.25% for VEE.TO and 0.92% for ENCC.TO.

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