Funds that beat their benchmark
Income funds trade something for their payouts: a covered call fund gives up some of its stocks' upside for option income, and a dividend fund narrows its market to the payers. Over a year or three, did that trade pay? Pick a kind of fund to see what it's measured against.
Each covered call fund against the same stocks without the options: the uncovered ETF its own documents point to. Beating it means the option income was worth the upside the fund gave up. See every benchmark.
35 of 128 funds beat their benchmark over 1 year, to Nov 11, 2026.
Beat their benchmark
| # | ETF | Fund | Benchmark | Difference | Score |
|---|---|---|---|---|---|
| 1 | CBNK Mulvihill Canadian Bank Enhanced Yield · Mulvihill 1.25x leverage | +60.1% | +46.1%ZEB | +14.0% | 80 |
| 2 | BANK Evolve Canadian Banks and Lifecos Enhanced Yield Index · Evolve 1.25x leverage | +46.4% | +36.3%XFN | +10.2% | 90 |
| 3 | SDAY Hamilton Enhanced U.S. Equity DayMAX™ · Hamilton 1.25x leverage | +28.9% | +21.6%SMVP | +7.3% | 79 |
| 4 | QDAY Hamilton Enhanced Technology DayMAX™ · Hamilton 1.25x leverage | +20.4% | +13.4%QQQ | +7.0% | 78 |
| 5 | HUTE Harvest Utilities Leaders Enhanced Income · Harvest 1.25x leverage | +11.5% | +6.2%JXI | +5.3% | 80 |
| 6 | HIND Harvest Industrial Leaders Income · Harvest | +18.7% | +13.9%XLI | +4.8% | 71 |
| 7 | BASE Evolve Global Materials & Mining Enhanced Yield Index · Evolve | +26.1% | +21.4%MXI | +4.6% | 74 |
| 8 | HUTL Harvest Utilities Leaders Income · Harvest | +10.3% | +6.2%JXI | +4.1% | 84 |
| 9 | HPF Harvest Energy Leaders Income · Harvest | +42.4% | +38.3%IXC | +4.1% | 69 |
| 10 | MIDB Evolve Enhanced Yield Mid Term Bond · Evolve | -1.8% | -5.8%TLT | +4.0% | 50 |
| 11 | HTAE Harvest Tech Leaders Enhanced Income · Harvest 1.25x leverage | +23.3% | +19.6%XLK | +3.6% | 74 |
| 12 | LPAY Global X Long-Term U.S. Treasury Premium Yield · Global X | -2.1% | -5.3%TLT | +3.2% | 55 |
| 13 | CDAY Hamilton Enhanced Canadian Equity DayMAX™ · Hamilton 1.25x leverage | +30.2% | +27.2%CMVP | +3.0% | 82 |
| 14 | ZWEN BMO Covered Call Energy · BMO | +43.5% | +40.5%IXC | +2.9% | 76 |
| 15 | HDIV Hamilton Enhanced Canadian Covered Call · Hamilton 1.25x leverage | +26.4% | +23.4%XIU | +2.9% | 84 |
| 16 | ZWG BMO Global High Dividend Covered Call · BMO | +17.2% | +14.3%ACWI | +2.9% | 78 |
| 17 | BCCC Global X Bitcoin Covered Call · Global X | -24.3% | -27.1%BTCC.B | +2.8% | 34 |
| 18 | EBNK Evolve European Banks Enhanced Yield · Evolve | +21.6% | +18.9%EUFN | +2.7% | 83 |
| 19 | USCL Global X Enhanced S&P 500 Covered Call · Global X 1.25x leverage | +16.9% | +14.2%SPY | +2.6% | 80 |
| 20 | HVOI Harvest Low Volatility Canadian Equity Income · Harvest | +18.6% | +16.2%ZLB | +2.4% | 73 |
| 21 | MPAY Global X Mid-Term U.S. Treasury Premium Yield · Global X | +0.3% | -1.8%IEF | +2.1% | 64 |
| 22 | SMAX Hamilton U.S. Equity YIELD MAXIMIZER™ · Hamilton | +16.1% | +14.2%SPY | +1.9% | 83 |
| 23 | EMCL Global X Enhanced MSCI Emerging Markets Covered Call · Global X 1.25x leverage | +13.7% | +11.8%EEM | +1.8% | 72 |
| 24 | HYLD Hamilton Enhanced U.S. Covered Call · Hamilton 1.25x leverage | +14.0% | +12.4%SPY | +1.6% | 83 |
| 25 | EACL Global X Enhanced MSCI EAFE Covered Call · Global X 1.25x leverage | +16.1% | +14.5%EFA | +1.5% | 75 |
| 26 | BOND Evolve Enhanced Yield Bond · Evolve | -4.8% | -6.2%TLT | +1.4% | 58 |
| 27 | ECHI Ninepoint Enhanced Canadian HighShares · Ninepoint 1.25x leverage | +24.7% | +23.4%XIU | +1.2% | 85 |
| 28 | QQCL Global X Enhanced Nasdaq-100 Covered Call · Global X 1.25x leverage | +14.6% | +13.4%QQQ | +1.2% | 84 |
| 29 | SPAY Global X Short-Term U.S. Treasury Premium Yield · Global X | +3.8% | +2.9%SHY | +0.9% | 61 |
| 30 | CNCL Global X Enhanced S&P/TSX 60 Covered Call · Global X 1.25x leverage | +24.0% | +23.4%XIU | +0.5% | 69 |
| 31 | HPYT Harvest Premium Yield Treasury · Harvest | -5.9% | -6.2%TLT | +0.4% | 41 |
| 32 | FEPY Fidelity Equity Premium Yield · Fidelity | +14.6% | +14.2%SPY | +0.4% | 83 |
| 33 | ZPAY BMO Premium Yield · BMO | +14.6% | +14.2%SPY | +0.4% | 81 |
| 34 | USCC Global X S&P 500 Covered Call · Global X | +14.3% | +14.2%SPY | +0.1% | 82 |
| 35 | HBND Hamilton U.S. Bond YIELD MAXIMIZER™ · Hamilton | -6.2% | -6.2%TLT | +0.0% | 50 |
Trailed (93)
| # | ETF | Fund | Benchmark | Difference | Score |
|---|---|---|---|---|---|
| 36 | AGG Evolve Canadian Aggregate Bond Enhanced Yield · Evolve | +0.1% | +0.2%ZAG | -0.1% | 56 |
| 37 | EMCC Global X MSCI Emerging Markets Covered Call · Global X | +15.5% | +15.6%EEM | -0.1% | 79 |
| 38 | ZZZD BMO Tactical Dividend ETF · BMO | +14.5% | +14.6%XAW | -0.1% | 70 |
| 39 | QQCI Invesco NASDAQ 100 Income Advantage · Invesco | +13.1% | +13.4%QQQ | -0.2% | 80 |
| 40 | RSCC Global X Russell 2000 Covered Call · Global X | +18.7% | +18.9%IWM | -0.2% | 69 |
| 41 | HTA Harvest Tech Leaders Income · Harvest | +19.3% | +19.6%XLK | -0.3% | 80 |
| 42 | PAYS Global X Short-Term Government Bond Premium Yield · Global X | +0.4% | +0.9%ZFS | -0.4% | 55 |
| 43 | CANY Evolve Canadian Equity UltraYield · Evolve 1.33x leverage | +23.0% | +23.4%XIU | -0.5% | 78 |
| 44 | EACC Global X MSCI EAFE Covered Call · Global X | +14.1% | +14.5%EFA | -0.5% | 79 |
| 45 | GRCC Global X Growth Asset Allocation Covered Call · Global X | +11.8% | +12.4%XGRO | -0.5% | 75 |
| 46 | PAYL Global X Long-Term Government Bond Premium Yield · Global X | -4.3% | -3.8%ZFL | -0.5% | 44 |
| 47 | CALL Evolve US Banks Enhanced Yield · Evolve | +16.0% | +16.6%ZUB | -0.6% | 78 |
| 48 | HPYM Harvest Premium Yield 7-10 Year Treasury · Harvest | -3.3% | -2.7%IEF | -0.6% | 49 |
| 49 | RUDC RBC U.S. Dividend Covered Call · RBC | +18.7% | +19.4%VYM | -0.7% | 75 |
| 50 | QQQY Evolve NASDAQ Technology Enhanced Yield Index · Evolve | +10.7% | +11.6%QQQ | -0.9% | 84 |
| 51 | QQCC Global X Nasdaq-100 Covered Call · Global X | +12.5% | +13.4%QQQ | -0.9% | 85 |
| 52 | JEPI JPMorgan US Equity Premium Income Active · JPMorgan | +13.2% | +14.2%SPY | -1.0% | 70 |
| 53 | ZWGD BMO Covered Call Spread Gold Bullion · BMO | -2.2% | -1.0%ZGLD | -1.2% | 64 |
| 54 | ZPW BMO US Put Write · BMO | +12.8% | +14.2%SPY | -1.4% | 78 |
| 55 | PAYM Global X Mid-Term Government Bond Premium Yield · Global X | -1.7% | -0.1%ZFM | -1.6% | 46 |
| 56 | ENCL Global X Enhanced Canadian Oil And Gas Equity Covered Call · Global X 1.25x leverage | +37.8% | +39.6%ZEO | -1.8% | 78 |
| 57 | EQCC Global X All-Equity Asset Allocation Covered Call · Global X | +14.8% | +16.7%HEQT | -1.8% | 76 |
| 58 | JEPQ JPMorgan Nasdaq Equity Premium Income Active · JPMorgan | +11.4% | +13.4%QQQ | -1.9% | 83 |
| 59 | ZWA BMO Covered Call Dow Jones Industrial Average Hedged to CAD · BMO | +6.5% | +8.6%ZDJ | -2.1% | 73 |
| 60 | FHI CI Health Care Giants Covered Call · CI | +24.9% | +27.5%XLV | -2.6% | 64 |
| 61 | EQLI Invesco S&P 500 Equal Weight Income Advantage · Invesco | +18.3% | +21.1%RSP | -2.8% | 78 |
| 62 | HBIL Hamilton U.S. T-Bill YIELD MAXIMIZER™ · Hamilton | +0.4% | +3.3%BIL | -3.0% | 50 |
| 63 | HGY Global X Gold Yield · Global X | -7.1% | -3.9%GLD | -3.3% | 74 |
| 64 | BCCL Global X Enhanced Bitcoin Covered Call · Global X 1.25x leverage | -30.5% | -27.1%BTCC.B | -3.4% | 31 |
| 65 | ZPH BMO US Put Write Hedged to CAD · BMO | +9.0% | +12.4%SPY | -3.5% | 76 |
| 66 | GGPY Guardian Directed Premium Yield · Guardian | +8.5% | +12.2%ACWI | -3.7% | 68 |
| 67 | BKCL Global X Enhanced Equal Weight Canadian Banks Covered Call · Global X 1.25x leverage | +42.2% | +46.1%ZEB | -3.8% | 81 |
| 68 | ESPX Evolve S&P 500® Enhanced Yield · Evolve | +8.6% | +12.4%SPY | -3.8% | 80 |
| 69 | NXF CI Energy Giants Covered Call · CI | +34.5% | +38.3%IXC | -3.9% | 64 |
| 70 | OILY Evolve Canadian Energy Enhanced Yield Index · Evolve 1.25x leverage | +35.8% | +39.6%ZEO | -3.9% | 79 |
| 71 | BTCY Purpose Bitcoin Yield · Purpose | -33.9% | -30.0%BTCC | -3.9% | 55 |
| 72 | CNCC Global X S&P/TSX 60 Covered Call · Global X | +19.5% | +23.4%XIU | -3.9% | 76 |
| 73 | ETSX Evolve S&P/TSX 60 Enhanced Yield · Evolve | +19.4% | +23.4%XIU | -4.0% | 82 |
| 74 | HBF Harvest US Equity Leaders Income · Harvest | +8.1% | +12.4%SPY | -4.3% | 79 |
| 75 | CCCB CIBC Canadian Banks Covered Call · CIBC | +40.6% | +45.1%ZEB | -4.5% | 71 |
| 76 | HUBL Harvest US Bank Leaders Income · Harvest | +12.0% | +16.6%ZUB | -4.6% | 74 |
| 77 | HBIX Harvest Bitcoin Enhanced Income · Harvest 1.25x leverage | -31.7% | -27.1%BTCC.B | -4.6% | 21 |
| 78 | ZWE BMO Europe High Dividend Covered Call Hedged to CAD · BMO | +10.7% | +15.4%XEH | -4.6% | 75 |
| 79 | TXF CI Tech Giants Covered Call · CI | +14.9% | +19.6%XLK | -4.8% | 82 |
| 80 | ZWK BMO Covered Call US Banks · BMO | +16.4% | +21.5%ZBK | -5.1% | 72 |
| 81 | FMAX Hamilton U.S. Financials YIELD MAXIMIZER™ · Hamilton | +8.5% | +13.7%XLF | -5.2% | 76 |
| 82 | AGCC Global X Silver Covered Call · Global X | -4.9% | +0.4%SLV | -5.3% | 55 |
| 83 | ZWP BMO Europe High Dividend Covered Call · BMO | +9.1% | +14.5%VGK | -5.4% | 77 |
| 84 | CCBD CI U.S. Aggregate Bond Covered Call · CI | -6.3% | -0.7%AGG | -5.6% | 46 |
| 85 | TLF Brompton Tech Leaders Income · Brompton | +14.0% | +19.6%XLK | -5.6% | 76 |
| 86 | HLIF Harvest Canadian Dividend Leaders Income · Harvest | +26.5% | +32.3%XEI | -5.8% | 81 |
| 87 | ZWH BMO US High Dividend Covered Call · BMO | +14.7% | +20.5%ZDY | -5.8% | 78 |
| 88 | YMAG Tech Innovators Yield Shares Purpose · Purpose 1.25x leverage | -0.3% | +5.5%MAGS | -5.8% | 76 |
| 89 | BDIV Brompton Global Dividend Growth · Brompton | +5.9% | +11.7%URTH | -5.8% | 76 |
| 90 | ZWS BMO US High Dividend Covered Call Hedged to CAD · BMO | +10.8% | +16.7%ZUD | -5.9% | 74 |
| 91 | ZWB BMO Covered Call Canadian Banks · BMO | +40.1% | +46.1%ZEB | -6.0% | 82 |
| 92 | GGEP Guardian Directed Equity Path · Guardian | +6.1% | +12.2%ACWI | -6.1% | 65 |
| 93 | HHIC Harvest Canadian High Income Shares · Harvest 1.25x leverage | +16.7% | +23.4%XIU | -6.8% | 84 |
| 94 | ZWHC BMO Covered Call Health Care · BMO | +22.4% | +29.5%XLV | -7.1% | 69 |
| 95 | DXQ Dynamic Active Enhanced Yield Covered Options · Dynamic | +7.1% | +14.2%SPY | -7.1% | 85 |
| 96 | RCDC RBC Canadian Dividend Covered Call · RBC | +25.1% | +32.3%XEI | -7.2% | 80 |
| 97 | CUTL CI Utilities Giants Covered Call · CI | -1.1% | +6.2%JXI | -7.3% | 61 |
| 98 | HMAX Hamilton Canadian Financials YIELD MAXIMIZER™ · Hamilton | +28.8% | +36.3%XFN | -7.5% | 87 |
| 99 | ETHY Purpose Ether Yield · Purpose | -49.5% | -41.8%ETHH | -7.7% | 21 |
| 100 | TGED TD Active Global Enhanced Dividend · TD | +6.3% | +14.0%XWD | -7.7% | 72 |
| 101 | NRGI Ninepoint Energy Income · Ninepoint | +42.5% | +50.4%XEG | -7.9% | 65 |
| 102 | TUEX TD Active U.S. Enhanced Dividend CAD Hedged · TD | +1.8% | +9.8%ZUE | -8.0% | 68 |
| 103 | HHIH Harvest High Income Equity Shares · Harvest | +5.3% | +13.4%QQQ | -8.0% | 75 |
| 104 | TUED TD Active U.S. Enhanced Dividend · TD | +5.6% | +14.2%SPY | -8.6% | 68 |
| 105 | ENCC Global X Canadian Oil and Gas Equity Covered Call · Global X | +30.9% | +39.6%ZEO | -8.7% | 81 |
| 106 | CCDC CIBC Canadian High Dividend Covered Call · CIBC | +23.2% | +31.9%XEI | -8.7% | 77 |
| 107 | CIC CI Canadian Banks Covered Call Income Class · CI | +37.2% | +46.1%ZEB | -8.9% | 69 |
| 108 | ZWU BMO Covered Call Utilities · BMO | +6.7% | +15.8%ZUT | -9.1% | 80 |
| 109 | ZWC BMO Canadian High Dividend Covered Call · BMO | +22.0% | +31.3%ZDV | -9.3% | 80 |
| 110 | UTES Evolve Canadian Utilities Enhanced Yield Index · Evolve 1.25x leverage | +6.3% | +15.8%ZUT | -9.5% | 73 |
| 111 | HHIS Harvest Diversified High Income Shares · Harvest 1.25x leverage | +3.7% | +13.4%QQQ | -9.6% | 74 |
| 112 | HGR Harvest REIT Leaders Income · Harvest | -0.1% | +9.8%REET | -9.8% | 55 |
| 113 | ZWT BMO Covered Call Technology · BMO | +11.6% | +21.5%XLK | -9.9% | 74 |
| 114 | LMAX Hamilton Healthcare YIELD MAXIMIZER™ · Hamilton | +19.4% | +29.5%XLV | -10.1% | 70 |
| 115 | LIFE Evolve Global Healthcare Enhanced Yield · Evolve | +11.2% | +21.6%XHC | -10.4% | 76 |
| 116 | PDIV Purpose Enhanced Dividend · Purpose | +16.1% | +26.9%PDF | -10.8% | 82 |
| 117 | GLCC Global X Gold Producer Equity Covered Call · Global X | +8.0% | +18.8%XGD | -10.8% | 75 |
| 118 | HHLE Harvest Healthcare Leaders Enhanced Income · Harvest 1.25x leverage | +16.4% | +27.5%XLV | -11.1% | 68 |
| 119 | AMAX Hamilton Gold Producer YIELD MAXIMIZER™ · Hamilton | +7.6% | +18.8%XGD | -11.1% | 73 |
| 120 | QMAX Hamilton Technology YIELD MAXIMIZER™ · Hamilton | +10.0% | +21.5%XLK | -11.5% | 80 |
| 121 | EMAX Hamilton Energy YIELD MAXIMIZER™ · Hamilton | +32.6% | +44.6%XLE | -12.0% | 70 |
| 122 | BKCC Global X Equal Weight Canadian Bank Covered Call · Global X | +33.3% | +46.1%ZEB | -12.8% | 84 |
| 123 | CGXF CI Gold+ Giants Covered Call · CI | +5.9% | +18.8%XGD | -12.8% | 63 |
| 124 | HIG Brompton Global Healthcare Income & Growth · Brompton | +8.4% | +21.6%XHC | -13.2% | 62 |
| 125 | HHL Harvest Healthcare Leaders Income · Harvest | +14.1% | +27.5%XLV | -13.3% | 74 |
| 126 | EDGF Brompton European Dividend Growth · Brompton | +2.1% | +16.0%XEH | -14.0% | 72 |
| 127 | CUDC CIBC US High Dividend Covered Call · CIBC | +2.1% | +19.4%VYM | -17.3% | 69 |
| 128 | BIGY Evolve US Equity UltraYield · Evolve 1.33x leverage | -13.1% | +12.4%SPY | -25.5% | 57 |
How to read this
- Returns are totals in Canadian dollars, with distributions and dividends reinvested, over the same days for the fund and what it's measured against. A fund hedged to the Canadian dollar is measured in the benchmark's or market's own currency.
- Benchmark or market: a covered call fund is compared with the same stocks without options, a fund with no options with the broad market it picks from. Neither is the index a fund tracks: an index fund trails its own index by about its fee, by design, so that would only rank fees. Click a ticker under a return, or see every benchmark and market yardstick, for the full list and the funds compared with each.
- Leverage adds to gains when markets rise and to losses when they fall, so a leveraged fund beating an unleveraged benchmark says more about the market than the options.
- Each fund's own page has the full comparison over more periods.
This is information, not a recommendation to buy or sell any fund. How we compare.