CNDI.TO vs. HXS.TO
CNDI.TO (BetaPro S&P/TSX 60 Daily Inverse ETF) and HXS.TO (Global X S&P 500 Index Corporate Class ETF) are both exchange-traded funds - CNDI.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. CNDI.TO is actively managed, while HXS.TO is passively managed. Over the past 5 years, CNDI.TO returned -10.71%/yr vs 15.94%/yr for HXS.TO. At a correlation of -0.61, they often move in opposite directions.
Performance
CNDI.TO vs. HXS.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CNDI.TO achieves a -10.01% return, which is significantly lower than HXS.TO's 13.44% return.
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%
HXS.TO
- 1D
- 0.63%
- 1M
- 1.77%
- YTD
- 13.44%
- 6M
- 12.73%
- 1Y
- 26.56%
- 3Y*
- 22.71%
- 5Y*
- 15.94%
- 10Y*
- —
CNDI.TO vs. HXS.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
CNDI.TO BetaPro S&P/TSX 60 Daily Inverse ETF | -10.01% | -21.77% | -12.57% | -5.07% | 6.35% | -23.93% | -57.94% | -7.36% |
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 CNDI.TO and HXS.TO is -0.56, 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 | -0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.56 |
Correlation (All Time) Calculated using the full available price history since Feb 21, 2019 | -0.61 |
The correlation between CNDI.TO and HXS.TO has been stable across timeframes, ranging from -0.61 to -0.53 - a consistent structural relationship.
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Return for Risk
CNDI.TO vs. HXS.TO — Risk / Return Rank
CNDI.TO
HXS.TO
CNDI.TO vs. HXS.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BetaPro S&P/TSX 60 Daily Inverse ETF (CNDI.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.
| CNDI.TO | HXS.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.10 | ||
| Sortino ratioReturn per unit of downside risk | -5.79 | ||
| Omega ratioGain probability vs. loss probability | 0.70 | 1.39 | -0.70 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | 3.05 | -4.03 |
| Martin ratioReturn relative to average drawdown | -1.56 | 11.35 | -12.91 |
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Drawdowns
CNDI.TO vs. HXS.TO - Drawdown Comparison
The maximum CNDI.TO drawdown since its inception was -91.95%, 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 CNDI.TO and HXS.TO.
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Drawdown Indicators
| CNDI.TO | HXS.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.95% | -27.41% | -64.54% |
Max Drawdown (1Y)Largest decline over 1 year | -23.95% | -8.74% | -15.21% |
Max Drawdown (3Y)Largest decline over 3 years | -45.47% | -18.98% | -26.49% |
Max Drawdown (5Y)Largest decline over 5 years | -45.51% | -22.63% | -22.88% |
Max Drawdown (10Y)Largest decline over 10 years | -85.81% | — | — |
Current DrawdownCurrent decline from peak | -91.87% | -0.42% | -91.45% |
Average DrawdownAverage peak-to-trough decline | -54.35% | -4.25% | -50.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.99% | 2.35% | +12.64% |
Volatility
CNDI.TO vs. HXS.TO - Volatility Comparison
The current volatility for BetaPro S&P/TSX 60 Daily Inverse ETF (CNDI.TO) is 3.45%, while Global X S&P 500 Index Corporate Class ETF (HXS.TO) has a volatility of 4.85%. This indicates that CNDI.TO experiences smaller price fluctuations and is considered to be less risky than HXS.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNDI.TO | HXS.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.45% | 4.85% | -1.40% |
Volatility (6M)Calculated over the trailing 6-month period | 9.34% | 9.75% | -0.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.00% | 12.39% | -0.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.07% | 15.27% | -2.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.93% | 17.73% | +4.20% |
Dividends
CNDI.TO vs. HXS.TO - Dividend Comparison
Neither CNDI.TO nor HXS.TO has paid dividends to shareholders.
Frequently Asked Questions
CNDI.TO and HXS.TO have a correlation of -0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CNDI.TO is categorized as Inverse Equities, while HXS.TO is S&P 500.
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