CFOD.TO vs. CNDI.TO
CFOD.TO (BetaPro S&P/TSX Capped Financials -2x Daily Bear ETF) and CNDI.TO (BetaPro S&P/TSX 60 Daily Inverse ETF) are both Inverse Equities funds from Global X. Both are actively managed. Over the past 10 years, CFOD.TO returned -29.60%/yr vs -17.66%/yr for CNDI.TO. A 0.76 correlation means they provide meaningful diversification when combined.
Performance
CFOD.TO vs. CNDI.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CFOD.TO achieves a -34.29% return, which is significantly lower than CNDI.TO's -10.01% return. Over the past 10 years, CFOD.TO has underperformed CNDI.TO with an annualized return of -29.60%, while CNDI.TO has yielded a comparatively higher -17.66% annualized return.
CFOD.TO
- 1D
- -1.41%
- 1M
- -16.18%
- YTD
- -34.29%
- 6M
- -33.59%
- 1Y
- -55.77%
- 3Y*
- -41.80%
- 5Y*
- -29.47%
- 10Y*
- -29.60%
CNDI.TO
- 1D
- -0.17%
- 1M
- -1.89%
- YTD
- -10.01%
- 6M
- -9.78%
- 1Y
- -23.26%
- 3Y*
- -15.69%
- 5Y*
- -10.71%
- 10Y*
- -17.66%
CFOD.TO vs. CNDI.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CFOD.TO BetaPro S&P/TSX Capped Financials -2x Daily Bear ETF | -34.29% | -45.59% | -36.06% | -16.40% | 15.26% | -49.30% | -39.93% | -31.53% | 20.83% | -23.17% |
CNDI.TO BetaPro S&P/TSX 60 Daily Inverse ETF | -10.01% | -21.77% | -12.57% | -5.07% | 6.35% | -23.93% | -57.94% | -17.07% | 8.27% | -9.53% |
Correlation
The correlation between CFOD.TO and CNDI.TO is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Oct 29, 2009 | 0.76 |
The correlation between CFOD.TO and CNDI.TO has been stable across timeframes, ranging from 0.72 to 0.77 - a consistent structural relationship.
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Return for Risk
CFOD.TO vs. CNDI.TO — Risk / Return Rank
CFOD.TO
CNDI.TO
CFOD.TO vs. CNDI.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BetaPro S&P/TSX Capped Financials -2x Daily Bear ETF (CFOD.TO) and BetaPro S&P/TSX 60 Daily Inverse ETF (CNDI.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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.
| CFOD.TO | CNDI.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.32 | ||
| Sortino ratioReturn per unit of downside risk | -1.02 | ||
| Omega ratioGain probability vs. loss probability | 0.59 | 0.70 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | -0.98 | -0.03 |
| Martin ratioReturn relative to average drawdown | -1.80 | -1.56 | -0.24 |
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Drawdowns
CFOD.TO vs. CNDI.TO - Drawdown Comparison
The maximum CFOD.TO drawdown since its inception was -99.88%, which is greater than CNDI.TO's maximum drawdown of -91.95%. Use the drawdown chart below to compare losses from any high point for CFOD.TO and CNDI.TO.
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Drawdown Indicators
| CFOD.TO | CNDI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.88% | -91.95% | -7.93% |
Max Drawdown (1Y)Largest decline over 1 year | -55.77% | -23.95% | -31.82% |
Max Drawdown (3Y)Largest decline over 3 years | -84.12% | -45.47% | -38.65% |
Max Drawdown (5Y)Largest decline over 5 years | -84.12% | -45.51% | -38.61% |
Max Drawdown (10Y)Largest decline over 10 years | -97.06% | -85.81% | -11.25% |
Current DrawdownCurrent decline from peak | -99.88% | -91.87% | -8.01% |
Average DrawdownAverage peak-to-trough decline | -86.99% | -54.35% | -32.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.94% | 14.99% | +15.95% |
Volatility
CFOD.TO vs. CNDI.TO - Volatility Comparison
BetaPro S&P/TSX Capped Financials -2x Daily Bear ETF (CFOD.TO) has a higher volatility of 4.97% compared to BetaPro S&P/TSX 60 Daily Inverse ETF (CNDI.TO) at 3.45%. This indicates that CFOD.TO's price experiences larger fluctuations and is considered to be riskier than CNDI.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CFOD.TO | CNDI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.97% | 3.45% | +1.52% |
Volatility (6M)Calculated over the trailing 6-month period | 20.82% | 9.34% | +11.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.70% | 12.00% | +12.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.64% | 13.07% | +14.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.56% | 21.93% | +11.63% |
Dividends
CFOD.TO vs. CNDI.TO - Dividend Comparison
Neither CFOD.TO nor CNDI.TO has paid dividends to shareholders.
Frequently Asked Questions
CFOD.TO and CNDI.TO have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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