CNDD.TO vs. QQD.TO
CNDD.TO (BetaPro S&P/TSX 60 -2x Daily Bear ETF) and QQD.TO (BetaPro NASDAQ-100 -2x Daily Bear ETF) are both Inverse Equities funds from Global X. Both are actively managed. Over the past 10 years, CNDD.TO returned -23.98%/yr vs -43.50%/yr for QQD.TO. A 0.62 correlation means they provide meaningful diversification when combined.
Performance
CNDD.TO vs. QQD.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 higher than QQD.TO's -32.75% return. Over the past 10 years, CNDD.TO has outperformed QQD.TO with an annualized return of -23.98%, while QQD.TO has yielded a comparatively lower -43.50% annualized 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%
QQD.TO
- 1D
- -3.58%
- 1M
- -1.76%
- YTD
- -32.75%
- 6M
- -31.73%
- 1Y
- -45.33%
- 3Y*
- -38.44%
- 5Y*
- -31.14%
- 10Y*
- -43.50%
CNDD.TO vs. QQD.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CNDD.TO BetaPro S&P/TSX 60 -2x Daily Bear ETF | -19.97% | -39.81% | -25.66% | -12.09% | 8.98% | -42.56% | -36.10% | -31.58% | 15.45% | -17.95% |
QQD.TO BetaPro NASDAQ-100 -2x Daily Bear ETF | -32.75% | -36.36% | -34.56% | -56.98% | 69.96% | -45.18% | -84.74% | -50.55% | -10.33% | -45.24% |
Correlation
The correlation between CNDD.TO and QQD.TO is 0.53, 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 | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2008 | 0.62 |
The correlation between CNDD.TO and QQD.TO has been stable across timeframes, ranging from 0.53 to 0.62 - a consistent structural relationship.
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Return for Risk
CNDD.TO vs. QQD.TO — Risk / Return Rank
CNDD.TO
QQD.TO
CNDD.TO vs. QQD.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 BetaPro NASDAQ-100 -2x Daily Bear ETF (QQD.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 | QQD.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -0.76 | ||
| Omega ratioGain probability vs. loss probability | 0.70 | 0.78 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | -0.99 | +0.01 |
| Martin ratioReturn relative to average drawdown | -1.52 | -1.99 | +0.47 |
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Drawdowns
CNDD.TO vs. QQD.TO - Drawdown Comparison
The maximum CNDD.TO drawdown since its inception was -99.32%, roughly equal to the maximum QQD.TO drawdown of -99.99%. Use the drawdown chart below to compare losses from any high point for CNDD.TO and QQD.TO.
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Drawdown Indicators
| CNDD.TO | QQD.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.32% | -99.99% | +0.67% |
Max Drawdown (1Y)Largest decline over 1 year | -42.84% | -45.99% | +3.15% |
Max Drawdown (3Y)Largest decline over 3 years | -72.16% | -80.24% | +8.08% |
Max Drawdown (5Y)Largest decline over 5 years | -72.87% | -89.01% | +16.14% |
Max Drawdown (10Y)Largest decline over 10 years | -93.67% | -99.67% | +6.00% |
Current DrawdownCurrent decline from peak | -99.31% | -99.99% | +0.68% |
Average DrawdownAverage peak-to-trough decline | -82.14% | -92.21% | +10.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.72% | 22.85% | +4.87% |
Volatility
CNDD.TO vs. QQD.TO - Volatility Comparison
The current volatility for BetaPro S&P/TSX 60 -2x Daily Bear ETF (CNDD.TO) is 6.96%, while BetaPro NASDAQ-100 -2x Daily Bear ETF (QQD.TO) has a volatility of 19.06%. This indicates that CNDD.TO experiences smaller price fluctuations and is considered to be less risky than QQD.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 | QQD.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.96% | 19.06% | -12.10% |
Volatility (6M)Calculated over the trailing 6-month period | 19.08% | 29.66% | -10.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.08% | 36.04% | -11.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.71% | 45.60% | -19.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.99% | 47.82% | -17.83% |
Dividends
CNDD.TO vs. QQD.TO - Dividend Comparison
Neither CNDD.TO nor QQD.TO has paid dividends to shareholders.
Frequently Asked Questions
CNDD.TO and QQD.TO have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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