CNDD.TO vs. QQCL.TO
CNDD.TO (BetaPro S&P/TSX 60 -2x Daily Bear ETF) and QQCL.TO (Global X Enhanced NASDAQ-100 Covered Call ETF) are both exchange-traded funds - CNDD.TO is a Inverse Equities fund actively managed by Global X, while QQCL.TO is a Nasdaq-100 fund actively managed by Global X. Both are actively managed. Over the past year, CNDD.TO returned -41.83% vs 42.71% for QQCL.TO. At a correlation of -0.48, they often move in opposite directions.
Performance
CNDD.TO vs. QQCL.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CNDD.TO achieves a -19.97% return, which is significantly lower than QQCL.TO's 24.17% return.
CNDD.TO
- 1D
- 0.00%
- 1M
- -3.62%
- YTD
- -19.97%
- 6M
- -19.18%
- 1Y
- -41.83%
- 3Y*
- -30.78%
- 5Y*
- -22.16%
- 10Y*
- -23.98%
QQCL.TO
- 1D
- 1.94%
- 1M
- 4.61%
- YTD
- 24.17%
- 6M
- 23.29%
- 1Y
- 42.71%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CNDD.TO vs. QQCL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CNDD.TO BetaPro S&P/TSX 60 -2x Daily Bear ETF | -19.97% | -39.81% | -25.66% | -13.98% |
QQCL.TO Global X Enhanced NASDAQ-100 Covered Call ETF | 24.17% | 13.10% | 41.38% | 4.96% |
Correlation
The correlation between CNDD.TO and QQCL.TO is -0.47, 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 | -0.47 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2023 | -0.48 |
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Return for Risk
CNDD.TO vs. QQCL.TO — Risk / Return Rank
CNDD.TO
QQCL.TO
CNDD.TO vs. QQCL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BetaPro S&P/TSX 60 -2x Daily Bear ETF (CNDD.TO) and Global X Enhanced NASDAQ-100 Covered Call ETF (QQCL.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.
| CNDD.TO | QQCL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.15 | ||
| Sortino ratioReturn per unit of downside risk | -5.95 | ||
| Omega ratioGain probability vs. loss probability | 0.70 | 1.43 | -0.73 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | 4.01 | -4.99 |
| Martin ratioReturn relative to average drawdown | -1.52 | 14.50 | -16.02 |
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Drawdowns
CNDD.TO vs. QQCL.TO - Drawdown Comparison
The maximum CNDD.TO drawdown since its inception was -99.32%, which is greater than QQCL.TO's maximum drawdown of -25.63%. Use the drawdown chart below to compare losses from any high point for CNDD.TO and QQCL.TO.
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Drawdown Indicators
| CNDD.TO | QQCL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.32% | -25.63% | -73.69% |
Max Drawdown (1Y)Largest decline over 1 year | -42.84% | -10.70% | -32.14% |
Max Drawdown (3Y)Largest decline over 3 years | -72.16% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -72.87% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -93.67% | — | — |
Current DrawdownCurrent decline from peak | -99.31% | 0.00% | -99.31% |
Average DrawdownAverage peak-to-trough decline | -82.14% | -3.29% | -78.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.72% | 2.95% | +24.77% |
Volatility
CNDD.TO vs. QQCL.TO - Volatility Comparison
The current volatility for BetaPro S&P/TSX 60 -2x Daily Bear ETF (CNDD.TO) is 6.96%, while Global X Enhanced NASDAQ-100 Covered Call ETF (QQCL.TO) has a volatility of 9.02%. This indicates that CNDD.TO experiences smaller price fluctuations and is considered to be less risky than QQCL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNDD.TO | QQCL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.96% | 9.02% | -2.06% |
Volatility (6M)Calculated over the trailing 6-month period | 19.08% | 14.94% | +4.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.08% | 17.85% | +6.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.71% | 20.77% | +4.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.99% | 20.77% | +9.22% |
Dividends
CNDD.TO vs. QQCL.TO - Dividend Comparison
CNDD.TO has not paid dividends to shareholders, while QQCL.TO's dividend yield for the trailing twelve months is around 12.99%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CNDD.TO BetaPro S&P/TSX 60 -2x Daily Bear ETF | 0.00% | 0.00% | 0.00% | 0.00% |
QQCL.TO Global X Enhanced NASDAQ-100 Covered Call ETF | 12.99% | 14.54% | 11.87% | 3.68% |
Frequently Asked Questions
CNDD.TO and QQCL.TO have a correlation of -0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CNDD.TO is categorized as Inverse Equities, while QQCL.TO is Nasdaq-100.
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