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Global X
11.1% headline yield, and 66% of it is classified as return of capital. Paying out more than the income the fund earned is how a covered-call or leveraged wrapper works: the distribution can include option premium or realized gains that receive ROC tax treatment.
Payout over time
Fund health
This fund adds leverage on top of the same covered-call strategy as GLCC.TO. The return split below shows how much of this fund's own return came from price versus distributions; the full leverage comparison is further down this page.
Why the price moved
This fund has under 3 years of its own price history, so the 3-year price comparison against GLCC.TO is not shown yet. The comparison over the available window is further down this page.
Own payout record
Cash distributed per unit, by calendar year, from the fund's own distribution history (up to the last 6 years). "Reduced" marks a year where the cash paid per unit fell more than 5% versus the prior year.
How it's taxed
The CRA taxes each distribution dollar by its character. These shares are measured against the full taxable distribution, including any portion the fund reinvested as units rather than paying in cash.
| Character | % of taxable | $ / unit |
|---|---|---|
| Eligible dividends | 12% | $0.1878 |
| Foreign income | 2% | $0.0241 |
| Capital gains | 21% | $0.3338 |
| Return of capital | 66% | $1.0550 |
Fund vs unleveraged sibling
GLCC.TO runs the same covered-call strategy on the same basket without the 1.25x leverage, so the difference below isolates what the leverage added, not the options.
| Last 36 months | GLCL.TO Global X Enhanced Gold Producer Equity Covered Call ETF | GLCC.TO Global X Gold Producer Equity Covered Call ETF |
|---|---|---|
| Distribution yield | 11.1% | 9.1% |
| Total return (3y/yr) | - | 38.2% |
| Capital growth (3y/yr) | - | 25.5% |
| Growth of $100, reinvested | - | $264 |
| Growth of $100, not reinvested | - | $198 |
Recent dividend activity in holdings
What Premium adds
Next steps
Prices as of 2026-07-27. Distributions as of 2026-07-28. Tax character year 2025.
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Foreign withholding tax already taken inside the fund: $0.0036 per unit. In a non-registered account, foreign tax reported on the T3 may be claimable as a foreign tax credit, subject to T2209 limits. TFSA and RRSP accounts do not claim that T3 credit.
For a covered-call or leveraged fund, return of capital can include option premium or realized gains classified as ROC for tax purposes, not your capital handed back. It still lowers your cost base, so the deferred tax can increase a later capital gain or reduce a later capital loss when you sell. If return of capital keeps building up and your cost base reaches zero, any further return of capital is taxed as a capital gain in the year you receive it, not deferred to a sale.
Based on Global X's 2025 T3 / tax-factor filing. Character can vary year to year. This is not tax advice; consult a tax professional about your situation.
What you keep, in your account
Each figure below starts from the headline yield of 11.1% and shows an estimate of what you keep after tax. Where you hold the fund changes the answer: a TFSA shelters Canadian tax and can still lose foreign withholding tax when the fund has foreign withholding, a non-registered account taxes each character at its own rate, and an RRSP defers tax until you withdraw.
These figures are estimates at the top ON marginal tax rate, not your personal rate. The return-of-capital portion is not taxed now: it lowers your cost base, so more of your eventual sale is taxed as a capital gain instead.
Illustrative, not tax advice.
GLCL.TO adds 1.25x leverage on top of the same covered-call strategy as GLCC.TO. GLCL.TO does not have a full year of return data yet, so the leverage comparison is not available.
Trailing 12-month cash yield; 3-year annualized total and price return. Past performance is not indicative of future results.