- Issuer
- Global X
- Inception Date
- Jan 15, 2008
- Category
- Inverse Commodities
- Leveraged
- -2x
- Index Tracked
- No Index (Active)
- Distribution Policy
- Accumulating
- Asset Class
- Commodity
Share Price Chart
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Performance
HOD.TO Performance Chart
BetaPro Crude Oil Inverse Leveraged Daily Bear ETF (HOD.TO) is down 70.6% since the beginning of the year. HOD.TO is currently trading at CA$43 per share. Investors who bought CA$1,000 worth of HOD.TO shares 5 years ago would now be looking at an investment worth CA$38.
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Returns By Period
BetaPro Crude Oil Inverse Leveraged Daily Bear ETF (HOD.TO) has returned -70.59% so far this year and -70.02% over the past 12 months. Over the last ten years, HOD.TO has returned -37.53% per year, falling short of the S&P 500 Index benchmark, which averaged 14.61% annually.
BetaPro Crude Oil Inverse Leveraged Daily Bear ETF
- 1D
- 0.78%
- 1M
- 41.19%
- YTD
- -70.59%
- 6M
- -70.13%
- 1Y
- -70.02%
- 3Y*
- -47.08%
- 5Y*
- -48.11%
- 10Y*
- -37.53%
Benchmark (S&P 500 Index)
- 1D
- 0.93%
- 1M
- 1.99%
- YTD
- 13.67%
- 6M
- 12.89%
- 1Y
- 25.52%
- 3Y*
- 21.80%
- 5Y*
- 14.76%
- 10Y*
- 14.61%
HOD.TO Monthly Returns History
Based on dividend-adjusted daily data since Jan 16, 2008, HOD.TO's average daily return is +0.04%, while the average monthly return is +0.57%. At this rate, an investment would double in approximately 10.2 years.
Historically, 44% of months were positive and 56% were negative. The best month was Jan 2009 with a return of +155.9%, while the worst month was Mar 2026 at -61.1%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 9 months.
On a daily basis, HOD.TO closed higher 47% of trading days. The best single day was Apr 21, 2020 with a return of +98.3%, while the worst single day was Apr 2, 2020 at -42.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -25.91% | -8.39% | -61.07% | -31.37% | 14.86% | 41.19% | -70.59% | ||||||
| 2025 | -6.60% | 6.03% | -6.18% | 39.86% | -11.15% | -20.78% | -16.20% | 11.76% | 0.19% | 1.31% | 5.56% | 1.58% | -6.76% |
| 2024 | -12.50% | -7.27% | -13.41% | 0.61% | 8.38% | -11.67% | 4.14% | 7.34% | 9.97% | -12.44% | 3.25% | -11.03% | -33.08% |
| 2023 | 1.25% | 4.47% | -0.09% | -4.92% | 22.13% | -9.88% | -26.20% | -5.54% | -16.85% | 13.96% | 12.25% | 8.92% | -10.68% |
| 2022 | -28.14% | -19.93% | -30.18% | -13.88% | -24.91% | 8.29% | 3.15% | 12.12% | 19.08% | -19.05% | 7.37% | -2.26% | -67.08% |
| 2021 | -10.58% | -30.18% | -0.42% | -15.11% | -12.78% | -18.68% | -5.48% | 9.63% | -18.58% | -19.90% | 38.69% | -25.64% | -73.91% |
Benchmark Metrics
BetaPro Crude Oil Inverse Leveraged Daily Bear ETF has an annualized alpha of 21.77%, beta of -1.05, and R2 of 0.07 versus S&P 500 Index. Calculated based on daily prices since January 16, 2008.
- This ETF tended to rise when S&P 500 Index fell (downside capture of -83.03%), but participation in market rallies was also limited (-89.05%) - a profile typical of counter-cyclical assets.
- Beta of -1.05 may look defensive, but with R2 of 0.07 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.07 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 21.77%
- Beta
- -1.05
- R²
- 0.07
- Upside Capture
- -89.05%
- Downside Capture
- -83.03%
Return for Risk
Risk / Return Rank
HOD.TO ranks 2 for risk / return — in the bottom 2% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for BetaPro Crude Oil Inverse Leveraged Daily Bear ETF (HOD.TO) and compare them to S&P 500 Index.
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.
| HOD.TO | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.82 | ||
| Sortino ratioReturn per unit of downside risk | -4.10 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.35 | -0.51 |
| Calmar ratioReturn relative to maximum drawdown | -0.82 | 2.79 | -3.61 |
| Martin ratioReturn relative to average drawdown | -1.52 | 10.35 | -11.87 |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the BetaPro Crude Oil Inverse Leveraged Daily Bear ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the BetaPro Crude Oil Inverse Leveraged Daily Bear ETF was 99.88%, occurring on May 19, 2026. The portfolio has not yet recovered.
The current BetaPro Crude Oil Inverse Leveraged Daily Bear ETF drawdown is 99.77%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 bear market2026 | -99.88%May 2026 | 17y 3mo | — | 17y 4moFeb 2009 - now |
Financial crisis2007–2009 | -71.65%Jul 2008 | 5mo 21d | 3mo 13d | 9mo 4dJan 2008 - Oct 2008 |
Financial crisis2007–2009 | -32.57%Dec 2008 | 2d | 2d | 4dDec 2008 - Jan 2009 |
Financial crisis2007–2009 | -25.29%Nov 2008 | 7d | 5d | 12dNov 2008 - Dec 2008 |
Financial crisis2007–2009 | -24.83%Nov 2008 | 7d | 7d | 14dOct 2008 - Nov 2008 |
Drawdown Indicators
| HOD.TO | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.88% | -48.87% | -51.01% |
Max Drawdown (1Y)Largest decline over 1 year | -85.78% | -9.17% | -76.61% |
Max Drawdown (3Y)Largest decline over 3 years | -92.17% | -19.59% | -72.58% |
Max Drawdown (5Y)Largest decline over 5 years | -98.46% | -23.14% | -75.32% |
Max Drawdown (10Y)Largest decline over 10 years | -99.78% | -27.97% | -71.81% |
Current DrawdownCurrent decline from peak | -99.77% | 0.00% | -99.77% |
Average DrawdownAverage peak-to-trough decline | -83.61% | -9.64% | -73.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 46.27% | 2.47% | +43.80% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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