waxing vs covering

waxing and covering both are nouns.

Word	Noun	Adjective	Verb	Adverb
waxing	Yes	Yes	No	No
covering	Yes	No	No	No

As nouns, covering is a hypernym of waxing; that is, covering is a word with a broader meaning than waxing:

Other hypernyms of waxing include application, coating.

waxing (noun)	covering (noun)
the application of wax to a surface	the act of protecting something by covering it
a gradual increase in magnitude or extent	the work of applying something
	the act of concealing the existence of something by obstructing the view of it
	an artifact that covers something else (usually to protect or shelter or conceal it)
	a natural object that covers or envelops

waxing (adjective)	covering (adjective)
(of the moon) pertaining to the period during which the visible surface of the moon increases