CFOD.TO vs. GDXD.TO
CFOD.TO (BetaPro S&P/TSX Capped Financials -2x Daily Bear ETF) and GDXD.TO (BetaPro Canadian Gold Miners -2x Daily Bear 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 -47.44%/yr for GDXD.TO. At a 0.06 correlation, their price movements are largely independent.
Performance
CFOD.TO vs. GDXD.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 GDXD.TO's -18.91% return. Over the past 10 years, CFOD.TO has outperformed GDXD.TO with an annualized return of -29.60%, while GDXD.TO has yielded a comparatively lower -47.44% 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%
GDXD.TO
- 1D
- 1.07%
- 1M
- 26.07%
- YTD
- -18.91%
- 6M
- -17.03%
- 1Y
- -78.68%
- 3Y*
- -67.32%
- 5Y*
- -52.75%
- 10Y*
- -47.44%
CFOD.TO vs. GDXD.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% |
GDXD.TO BetaPro Canadian Gold Miners -2x Daily Bear ETF | -18.91% | -89.27% | -51.09% | -14.78% | -30.72% | -3.72% | -84.19% | -59.16% | -6.06% | -13.59% |
Correlation
The correlation between CFOD.TO and GDXD.TO is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2007 | 0.06 |
Over the past year, CFOD.TO and GDXD.TO have become more correlated (0.27) than their long-term average of 0.06, meaning their price movements have been converging.
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Return for Risk
CFOD.TO vs. GDXD.TO — Risk / Return Rank
CFOD.TO
GDXD.TO
CFOD.TO vs. GDXD.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 Canadian Gold Miners -2x Daily Bear ETF (GDXD.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 | GDXD.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.40 | ||
| Sortino ratioReturn per unit of downside risk | -2.06 | ||
| Omega ratioGain probability vs. loss probability | 0.59 | 0.81 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | -0.90 | -0.10 |
| Martin ratioReturn relative to average drawdown | -1.80 | -1.14 | -0.66 |
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Drawdowns
CFOD.TO vs. GDXD.TO - Drawdown Comparison
The maximum CFOD.TO drawdown since its inception was -99.88%, roughly equal to the maximum GDXD.TO drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for CFOD.TO and GDXD.TO.
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Drawdown Indicators
| CFOD.TO | GDXD.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.88% | -100.00% | +0.12% |
Max Drawdown (1Y)Largest decline over 1 year | -55.77% | -87.59% | +31.82% |
Max Drawdown (3Y)Largest decline over 3 years | -84.12% | -98.32% | +14.20% |
Max Drawdown (5Y)Largest decline over 5 years | -84.12% | -98.83% | +14.71% |
Max Drawdown (10Y)Largest decline over 10 years | -97.06% | -99.95% | +2.89% |
Current DrawdownCurrent decline from peak | -99.88% | -100.00% | +0.12% |
Average DrawdownAverage peak-to-trough decline | -86.99% | -94.39% | +7.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.94% | 68.90% | -37.96% |
Volatility
CFOD.TO vs. GDXD.TO - Volatility Comparison
The current volatility for BetaPro S&P/TSX Capped Financials -2x Daily Bear ETF (CFOD.TO) is 4.97%, while BetaPro Canadian Gold Miners -2x Daily Bear ETF (GDXD.TO) has a volatility of 32.35%. This indicates that CFOD.TO experiences smaller price fluctuations and is considered to be less risky than GDXD.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 | GDXD.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.97% | 32.35% | -27.38% |
Volatility (6M)Calculated over the trailing 6-month period | 20.82% | 73.48% | -52.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.70% | 91.70% | -67.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.64% | 68.11% | -40.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.56% | 68.76% | -35.20% |
Dividends
CFOD.TO vs. GDXD.TO - Dividend Comparison
Neither CFOD.TO nor GDXD.TO has paid dividends to shareholders.
Frequently Asked Questions
CFOD.TO and GDXD.TO have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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