CFOD.TO vs. HXS.TO
CFOD.TO (BetaPro S&P/TSX Capped Financials -2x Daily Bear ETF) and HXS.TO (Global X S&P 500 Index Corporate Class ETF) are both exchange-traded funds - CFOD.TO is a Inverse Equities fund actively managed by Global X, while HXS.TO is a S&P 500 fund tracking the S&P 500 Index. CFOD.TO is actively managed, while HXS.TO is passively managed. Over the past 5 years, CFOD.TO returned -29.47%/yr vs 15.94%/yr for HXS.TO. At a correlation of -0.58, they often move in opposite directions.
Performance
CFOD.TO vs. HXS.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 HXS.TO's 13.44% 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%
HXS.TO
- 1D
- 0.63%
- 1M
- 1.77%
- YTD
- 13.44%
- 6M
- 12.73%
- 1Y
- 26.56%
- 3Y*
- 22.71%
- 5Y*
- 15.94%
- 10Y*
- —
CFOD.TO vs. HXS.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
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% | -14.02% |
HXS.TO Global X S&P 500 Index Corporate Class ETF | 13.44% | 11.93% | 34.98% | 23.22% | -12.72% | 27.30% | 15.78% | 15.85% |
Correlation
The correlation between CFOD.TO and HXS.TO is -0.57, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.58 |
Correlation (All Time) Calculated using the full available price history since Feb 21, 2019 | -0.58 |
The correlation between CFOD.TO and HXS.TO has been stable across timeframes, ranging from -0.58 to -0.55 - a consistent structural relationship.
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Return for Risk
CFOD.TO vs. HXS.TO — Risk / Return Rank
CFOD.TO
HXS.TO
CFOD.TO vs. HXS.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 Global X S&P 500 Index Corporate Class ETF (HXS.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 | HXS.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.42 | ||
| Sortino ratioReturn per unit of downside risk | -6.80 | ||
| Omega ratioGain probability vs. loss probability | 0.59 | 1.39 | -0.80 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 3.05 | -4.06 |
| Martin ratioReturn relative to average drawdown | -1.80 | 11.35 | -13.15 |
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Drawdowns
CFOD.TO vs. HXS.TO - Drawdown Comparison
The maximum CFOD.TO drawdown since its inception was -99.88%, which is greater than HXS.TO's maximum drawdown of -27.41%. Use the drawdown chart below to compare losses from any high point for CFOD.TO and HXS.TO.
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Drawdown Indicators
| CFOD.TO | HXS.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.88% | -27.41% | -72.47% |
Max Drawdown (1Y)Largest decline over 1 year | -55.77% | -8.74% | -47.03% |
Max Drawdown (3Y)Largest decline over 3 years | -84.12% | -18.98% | -65.14% |
Max Drawdown (5Y)Largest decline over 5 years | -84.12% | -22.63% | -61.49% |
Max Drawdown (10Y)Largest decline over 10 years | -97.06% | — | — |
Current DrawdownCurrent decline from peak | -99.88% | -0.42% | -99.46% |
Average DrawdownAverage peak-to-trough decline | -86.99% | -4.25% | -82.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.94% | 2.35% | +28.59% |
Volatility
CFOD.TO vs. HXS.TO - Volatility Comparison
BetaPro S&P/TSX Capped Financials -2x Daily Bear ETF (CFOD.TO) and Global X S&P 500 Index Corporate Class ETF (HXS.TO) have volatilities of 4.97% and 4.85%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CFOD.TO | HXS.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.97% | 4.85% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 20.82% | 9.75% | +11.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.70% | 12.39% | +12.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.64% | 15.27% | +12.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.56% | 17.73% | +15.83% |
Dividends
CFOD.TO vs. HXS.TO - Dividend Comparison
Neither CFOD.TO nor HXS.TO has paid dividends to shareholders.
Frequently Asked Questions
CFOD.TO and HXS.TO have a correlation of -0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CFOD.TO is categorized as Inverse Equities, while HXS.TO is S&P 500.
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