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All funds Enhanced (leveraged)

Enhanced covered call ETFs in Canada

An enhanced covered call ETF borrows to invest more than it holds, usually 1.25x to 1.33x, and writes calls on the larger position. The leverage lifts the yield and the gains, and makes the falls deeper.

Borrowing costs come out of the fund before you see a cent, and they rise with interest rates. Compare the fee, the worst drop and the distribution record here, not the headline yield.

On our Income Durability Score, the top 3 are HBIX (21), BCCL (31) and RNCL (48), out of 36 funds from 8 providers.

Ranked by score, out of 100. Click a column heading to sort; funds marked “new” are too young to score and always come last. For more filters, use the full fund list.

CompareTicker ⇅FundTypeScore ▲Yield ⇅1-yr return ⇅Fee ⇅Worst drop ⇅Risk rating ⇅Liquidity ⇅
HBIXHarvest Bitcoin Enhanced IncomeEnhanced 1.25x 2123.5%-24.4%2.79%-53.0%HighMedium
BCCLGlobal X Enhanced Bitcoin Covered CallEnhanced 1.25x 3131.9%-20.5%2.10%-52.1%HighMedium
RNCLGlobal X Enhanced Equal Weight Canadian Telecommunications Covered CallEnhanced 1.25x 4813.8%-16.9%1.96%-26.6%Med–highVery low
BIGYEvolve US Equity UltraYieldEnhanced 1.33x 5731.4%-12.3%0.61%-23.6%HighVery high
HBTEHarvest Bitcoin Leaders Enhanced IncomeEnhanced 1.25x 6047.2%-28.0%2.49%-46.1%HighHigh
HHLEHarvest Healthcare Leaders Enhanced IncomeEnhanced 1.25x 6811.9%+9.8%2.15%-20.1%MediumMedium
CNCLGlobal X Enhanced S&P/TSX 60 Covered CallEnhanced 1.25x 698.3%+19.5%1.66%-9.0%MediumLow
EMCLGlobal X Enhanced MSCI Emerging Markets Covered CallEnhanced 1.25x 7213.8%+14.9%1.83%-11.8%Med–highLow
UTESEvolve Canadian Utilities Enhanced Yield IndexEnhanced 1.25x 7320.0%+4.7%0.85%-12.4%MediumVery high
HTAEHarvest Tech Leaders Enhanced IncomeEnhanced 1.25x 7411.7%+19.8%2.13%-16.8%HighMedium
EACLGlobal X Enhanced MSCI EAFE Covered CallEnhanced 1.25x 7511.5%+16.7%1.63%-6.9%MediumLow
YMAGTech Innovators Yield Shares PurposeEnhanced 1.25x 7620.0%+0.7%0.57%-25.5%Med–highMedium
CANYEvolve Canadian Equity UltraYieldEnhanced 1.33x 7820.2%+19.9%0.61%-2.7%Med–highHigh
ENCLGlobal X Enhanced Canadian Oil And Gas Equity Covered CallEnhanced 1.25x 7814.9%+30.9%1.88%-11.4%HighVery high
QDAYHamilton Enhanced Technology DayMAX™Enhanced 1.25x 7820.5%+20.0%1.10%-15.3%HighMedium
OILYEvolve Canadian Energy Enhanced Yield IndexEnhanced 1.25x 7916.2%+28.3%0.86%-11.3%HighMedium
SDAYHamilton Enhanced U.S. Equity DayMAX™Enhanced 1.25x 7917.2%+26.3%1.05%-4.0%MediumMedium
CBNKMulvihill Canadian Bank Enhanced YieldEnhanced 1.25x 809.0%+53.3%0.65%-28.3%Med–highMedium
HUTEHarvest Utilities Leaders Enhanced IncomeEnhanced 1.25x 8010.0%+11.0%1.72%-14.0%MediumMedium
USCLGlobal X Enhanced S&P 500 Covered CallEnhanced 1.25x 8012.4%+14.8%1.49%-14.6%Med–highMedium
BKCLGlobal X Enhanced Equal Weight Canadian Banks Covered CallEnhanced 1.25x 8111.3%+37.0%1.51%-15.2%Med–highHigh
CDAYHamilton Enhanced Canadian Equity DayMAX™Enhanced 1.25x 8218.6%+26.3%1.04%-3.8%MediumMedium
HHICHarvest Canadian High Income SharesEnhanced 1.25x 8418.1%+15.2%1.45%-4.2%MediumVery high
QQCLGlobal X Enhanced Nasdaq-100 Covered CallEnhanced 1.25x 8415.3%+11.3%1.71%-15.8%HighVery high
BANKEvolve Canadian Banks and Lifecos Enhanced Yield IndexEnhanced 1.25x 9016.1%+38.6%0.82%-20.2%Med–highVery high
BDAYHamilton Enhanced Bitcoin DayMAX™Enhanced 1.25x newn/a18.9%–0.85%-14.4%HighMedium
EDHINinepoint Enhanced Aerospace and Defense HighSharesEnhanced 1.33x newn/a15.3%–0.55%–HighLow
GLCLGlobal X Enhanced Gold Producer Equity Covered CallEnhanced 1.25x newn/a15.7%–1.74%-42.0%HighMedium
HHIIHarvest International High Income SharesEnhanced 1.25x newn/a18.0%–0.65%–HighMedium
INTYEvolve International Equity UltraYieldEnhanced 1.33x newn/a30.7%–0.60%-6.2%Med–highMedium
PAYGBrompton Global Equity HighPayEnhanced 1.25x newn/a19.6%–0.73%-4.4%MediumMedium
PAYIBrompton Utilities & Infrastructure HighPayEnhanced 1.25x newn/a17.4%–0.60%–MediumLow
PAYUBrompton U.S. Equity HighPayEnhanced 1.25x newn/a20.9%–0.60%–MediumVery low
SIXYEvolve Big Six Canadian Banks UltraYield IndexEnhanced 1.33x newn/a21.6%–0.60%-4.7%HighVery high
SVCLGlobal X Enhanced Silver Miners Covered CallEnhanced 1.25x newn/a19.3%–0.85%-29.0%HighLow
USHINinepoint Enhanced U.S. Equity HighSharesEnhanced 1.33x newn/a15.9%–0.40%–Med–highLow
Type

What the fund sells calls on.

The fund owns stocks and sells the right to buy them at a set price. It collects a fee (premium) for that right, which is paid out as income. In exchange, big rises in the stocks are partly given up. A tag such as 1.25x marks leverage; "new" means under 12 months of history, too short to score.

Full definition in the glossary →

Income Durability Score

Out of 100, coloured from red (0) to green (100).

How well the fund has turned its yield into something you could actually keep. It is built from income, capital, risk and cost measures with fixed, published weights.

How we score →

Yield

A year of distributions divided by today's unit price. A high yield is not a high return: if the price falls as much as you were paid, you have gained nothing.

Full definition in the glossary →

Total return

This column is the total return over the last 12 months.

Price change plus all distributions, assuming distributions are reinvested. This is the number that tells you whether the payout was earned.

Full definition in the glossary →

MER

Management expense ratio: the fund's yearly management fee and operating costs as a share of its value, already taken out of returns. Trading costs come on top, as the trading expense ratio (TER) in the fund's ETF Facts; the score's fee measure adds the two.

Full definition in the glossary →

Worst drop (maximum drawdown)

The biggest fall from a high to a later low, in total return, so paying out a distribution does not count as a fall. A fund that fell 30% needs a 43% gain to get back.

Full definition in the glossary →

Risk rating

The fund company's own rating from Low to High, in its ETF Facts, based on how much the fund's returns have varied. It describes past ups and downs, not the chance of a future loss.

Full definition in the glossary →

Liquidity

How easily you can buy or sell without moving the price, rated Very high to Very low by the average dollars traded per day. Thinly traded funds can have wide gaps between the buying and selling price; use limit orders.

Full definition in the glossary →

Volatility

Over the last 36 months.

How much returns bounce around, measured as an annualized standard deviation. Higher means a bumpier ride. It counts rises as well as falls, so the score uses downside deviation instead.

Full definition in the glossary →

Beta

How far the fund tends to move when the S&P 500 moves, over the last 36 months. A beta of 0.7 means it moved about 0.7% for each 1% move in the index.

Full definition in the glossary →

Up and down capture

This column is up capture: the share of its own benchmark's gains the fund took in rising months. The fund's page names the benchmark.

How much of its own benchmark's gains (up) and losses (down) the fund took over the last 36 months. Down capture under 100% means the calls cushioned the falls; leverage pushes both above 100%.

Full definition in the glossary →

Up and down capture

This column is down capture: the share of its own benchmark's losses the fund took in falling months. The fund's page names the benchmark.

How much of its own benchmark's gains (up) and losses (down) the fund took over the last 36 months. Down capture under 100% means the calls cushioned the falls; leverage pushes both above 100%.

Full definition in the glossary →

Total return

This column is the total return per year over the last 3 years.

Price change plus all distributions, assuming distributions are reinvested. This is the number that tells you whether the payout was earned.

Full definition in the glossary →

Return of capital (ROC)

The share of last year's payout classed as return of capital.

A part of the payout that is treated as your own money coming back. It is not taxed right away, but it lowers your cost base, so you may owe more tax when you sell.

Full definition in the glossary →

Rankings are information, not a recommendation to buy or sell any fund. How we score.