CNDI.TO vs. SMST.L
CNDI.TO (BetaPro S&P/TSX 60 Daily Inverse ETF) and SMST.L (Leverage Shares -3x Short MicroStrategy ETP) are both Inverse Equities funds. Over the past year, CNDI.TO returned -23.16% vs 346.09% for SMST.L. At a 0.28 correlation, their price movements are largely independent.
Performance
CNDI.TO vs. SMST.L - Performance Comparison
Loading charts...
Different Trading Currencies
CNDI.TO is traded in CAD, while SMST.L is traded in GBP. To make them comparable, the SMST.L values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, CNDI.TO achieves a -11.70% return, which is significantly higher than SMST.L's -52.45% return.
CNDI.TO
- 1D
- 0.23%
- 1M
- -0.97%
- 6M
- -8.81%
- YTD
- -11.70%
- 1Y
- -23.16%
- 3Y*
- -16.05%
- 5Y*
- -11.11%
- 10Y*
- -17.49%
SMST.L
- 1D
- 0.00%
- 1M
- 45.98%
- 6M
- -30.29%
- YTD
- -52.45%
- 1Y
- 346.09%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CNDI.TO vs. SMST.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CNDI.TO BetaPro S&P/TSX 60 Daily Inverse ETF | -11.70% | -21.77% | -0.87% |
SMST.L Leverage Shares -3x Short MicroStrategy ETP | -52.45% | 9,404.52% | -95.02% |
Correlation
The correlation between CNDI.TO and SMST.L is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Oct 14, 2024 | 0.28 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CNDI.TO vs. SMST.L — Risk / Return Rank
CNDI.TO
SMST.L
CNDI.TO vs. SMST.L - 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 Leverage Shares -3x Short MicroStrategy ETP (SMST.L). 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 | SMST.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.48 | ||
| Sortino ratioReturn per unit of downside risk | -5.59 | ||
| Omega ratioGain probability vs. loss probability | 0.70 | 1.36 | -0.66 |
| Calmar ratioReturn relative to maximum drawdown | -0.95 | 3.71 | -4.66 |
| Martin ratioReturn relative to average drawdown | -1.49 | 6.58 | -8.07 |
Loading charts...
Drawdowns
CNDI.TO vs. SMST.L - Drawdown Comparison
The maximum CNDI.TO drawdown since its inception was -92.04%, smaller than the maximum SMST.L drawdown of -98.00%. Use the drawdown chart below to compare losses from any high point for CNDI.TO and SMST.L.
Loading charts...
Drawdown Indicators
| CNDI.TO | SMST.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.04% | -98.00% | +5.96% |
Max Drawdown (1Y)Largest decline over 1 year | -24.51% | -93.19% | +68.68% |
Max Drawdown (3Y)Largest decline over 3 years | -46.13% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -46.16% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -85.87% | — | — |
Current DrawdownCurrent decline from peak | -92.02% | -87.90% | -4.12% |
Average DrawdownAverage peak-to-trough decline | -54.46% | -81.02% | +26.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.52% | 52.63% | -37.11% |
Volatility
CNDI.TO vs. SMST.L - Volatility Comparison
The current volatility for BetaPro S&P/TSX 60 Daily Inverse ETF (CNDI.TO) is 2.20%, while Leverage Shares -3x Short MicroStrategy ETP (SMST.L) has a volatility of 76.77%. This indicates that CNDI.TO experiences smaller price fluctuations and is considered to be less risky than SMST.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CNDI.TO | SMST.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.20% | 76.77% | -74.57% |
Volatility (6M)Calculated over the trailing 6-month period | 9.29% | 188.70% | -179.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.03% | 224.76% | -212.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.05% | 27,736.17% | -27,723.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.92% | 27,736.17% | -27,714.25% |
Dividends
CNDI.TO vs. SMST.L - Dividend Comparison
Neither CNDI.TO nor SMST.L has paid dividends to shareholders.
Frequently Asked Questions
CNDI.TO and SMST.L have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Global X and Leverage Shares.
Find the right allocation for CNDI.TO and SMST.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer