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Performance
Performance Chart
The chart shows the growth of an initial investment of CA$10,000 in BetaPro S&P/TSX 60 -2x Daily Bear ETF, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Different Benchmark Currency
HXD.TO is traded in CAD, while the ^GSPC benchmark is in USD. To make them comparable, the benchmark values have been converted to CAD using the latest available exchange rates.
Returns By Period
BetaPro S&P/TSX 60 -2x Daily Bear ETF (HXD.TO) has returned -1.82% so far this year and -39.16% over the past 12 months. Over the last ten years, HXD.TO has returned -9.76% per year, falling short of the S&P 500 Index benchmark, which averaged 12.91% annually.
BetaPro S&P/TSX 60 -2x Daily Bear ETF
- 1D
- 0.07%
- 1M
- 11.41%
- YTD
- -1.82%
- 6M
- -12.07%
- 1Y
- -39.16%
- 3Y*
- 26.35%
- 5Y*
- 7.82%
- 10Y*
- -9.76%
Benchmark (S&P 500 Index)
- 1D
- 2.80%
- 1M
- -3.22%
- YTD
- -3.34%
- 6M
- -2.48%
- 1Y
- 12.46%
- 3Y*
- 17.80%
- 5Y*
- 12.48%
- 10Y*
- 12.91%
Monthly Returns
Based on dividend-adjusted daily data since Jan 9, 2007, HXD.TO's average daily return is +0.15%, while the average monthly return is +1.75%. At this rate, your investment would double in approximately 3.3 years.
Historically, 35% of months were positive and 65% were negative. The best month was Nov 2024 with a return of +342.6%, while the worst month was May 2009 at -23.9%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 15 months.
On a daily basis, HXD.TO closed higher 43% of trading days. The best single day was Nov 25, 2024 with a return of +401.1%, while the worst single day was Aug 18, 2010 at -75.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.56% | -12.36% | 11.41% | -1.82% | |||||||||
| 2025 | -7.52% | 1.18% | 3.82% | -2.25% | -9.38% | -3.76% | -2.89% | -8.63% | -8.52% | -1.63% | -6.99% | -2.12% | -39.81% |
| 2024 | -0.16% | -3.13% | -6.30% | 5.52% | -4.25% | 4.44% | -10.62% | -2.56% | -5.44% | -0.79% | 342.60% | 7.50% | 271.72% |
| 2023 | -11.07% | 6.03% | 1.60% | -6.10% | 12.45% | -6.11% | -3.47% | 3.75% | 7.23% | 7.28% | -13.57% | -6.98% | -12.03% |
| 2022 | -0.07% | -0.45% | -8.05% | 10.15% | -1.04% | 18.24% | -7.94% | 3.45% | 7.87% | -10.88% | -10.12% | 12.27% | 8.91% |
| 2021 | 0.09% | -9.02% | -8.88% | -4.82% | -7.35% | -5.76% | -1.87% | -3.18% | 3.54% | -10.39% | 1.13% | -6.57% | -42.56% |
Benchmark Metrics
BetaPro S&P/TSX 60 -2x Daily Bear ETF has an annualized alpha of 44.29%, beta of -1.43, and R² of 0.03 versus S&P 500 Index. Calculated based on daily prices since January 10, 2007.
- This ETF tended to rise when S&P 500 Index fell (downside capture of -124.35%), but participation in market rallies was also limited (-75.43%) — a profile typical of counter-cyclical assets.
- Beta of -1.43 may look defensive, but with R² of 0.03 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 0.03 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
- 44.29%
- Beta
- -1.43
- R²
- 0.03
- Upside Capture
- -75.43%
- Downside Capture
- -124.35%
Expense Ratio
HXD.TO has a high expense ratio of 1.78%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
HXD.TO ranks 1 for risk / return — in the bottom 1% 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 S&P/TSX 60 -2x Daily Bear ETF (HXD.TO) and compare them to a chosen benchmark (S&P 500 Index).
| HXD.TO | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -1.39 | 0.69 | -2.08 |
Sortino ratioReturn per unit of downside risk | -2.29 | 1.06 | -3.35 |
Omega ratioGain probability vs. loss probability | 0.74 | 1.17 | -0.43 |
Calmar ratioReturn relative to maximum drawdown | -0.69 | 1.14 | -1.83 |
Martin ratioReturn relative to average drawdown | -0.96 | 4.22 | -5.17 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore HXD.TO risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
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 S&P/TSX 60 -2x 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 S&P/TSX 60 -2x Daily Bear ETF was 98.45%, occurring on Nov 22, 2024. The portfolio has not yet recovered.
The current BetaPro S&P/TSX 60 -2x Daily Bear ETF drawdown is 95.16%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -98.45% | Feb 24, 2009 | 3953 | Nov 22, 2024 | — | — | — |
| -39.85% | Jan 22, 2008 | 103 | Jun 17, 2008 | 74 | Oct 2, 2008 | 177 |
| -34.33% | Nov 21, 2008 | 6 | Nov 28, 2008 | 22 | Jan 2, 2009 | 28 |
| -31.92% | Oct 28, 2008 | 6 | Nov 4, 2008 | 12 | Nov 20, 2008 | 18 |
| -28.19% | Jan 11, 2007 | 204 | Oct 31, 2007 | 42 | Jan 2, 2008 | 246 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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