CNDU.TO vs. HBNK.TO

Last updated Jun 24, 2026

CNDU.TO (BetaPro S&P/TSX 60 2x Daily Bull ETF) and HBNK.TO (Global X Equal Weight Banks Index ETF) are both exchange-traded funds - CNDU.TO is a Leveraged Equities fund tracking the S&P/TSX 60 Index, while HBNK.TO is a Financials Equities fund tracking the Solactive Equal Weight Canada Banks Index. Both are passively managed. Over the past year, CNDU.TO returned 65.12% vs 74.03% for HBNK.TO. A 0.74 correlation means they provide meaningful diversification when combined. CNDU.TO charges 1.15%/yr vs 0.09%/yr for HBNK.TO.

Performance

CNDU.TO vs. HBNK.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BetaPro S&P/TSX 60 2x Daily Bull ETF (CNDU.TO) and Global X Equal Weight Banks Index ETF (HBNK.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CNDU.TO achieves a 20.58% return, which is significantly lower than HBNK.TO's 30.68% return.

CNDU.TO

• 1D: 0.20%
• 1M: 3.82%
• YTD: 20.58%
• 6M: 18.63%
• 1Y: 65.12%
• 3Y*: 42.64%
• 5Y*: 22.02%
• 10Y*: 19.59%

HBNK.TO

• 1D: 0.50%
• 1M: 8.28%
• YTD: 30.68%
• 6M: 30.46%
• 1Y: 74.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CNDU.TO vs. HBNK.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CNDU.TO BetaPro S&P/TSX 60 2x Daily Bull ETF	20.58%	54.27%	34.82%	11.32%
HBNK.TO Global X Equal Weight Banks Index ETF	30.68%	43.71%	24.77%	9.82%

Correlation

The correlation between CNDU.TO and HBNK.TO is 0.71, 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	0.71
Correlation (All Time) Calculated using the full available price history since Jul 7, 2023	0.74

The correlation between CNDU.TO and HBNK.TO has been stable across timeframes, ranging from 0.71 to 0.74 - a consistent structural relationship.

Return for Risk

CNDU.TO vs. HBNK.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CNDU.TO

CNDU.TO Risk / Return Rank: 85
CNDU.TO Sharpe Ratio Rank: 89
CNDU.TO Sortino Ratio Rank: 82
CNDU.TO Omega Ratio Rank: 82
CNDU.TO Calmar Ratio Rank: 85
CNDU.TO Martin Ratio Rank: 90

HBNK.TO

HBNK.TO Risk / Return Rank: 97
HBNK.TO Sharpe Ratio Rank: 98
HBNK.TO Sortino Ratio Rank: 98
HBNK.TO Omega Ratio Rank: 98
HBNK.TO Calmar Ratio Rank: 96
HBNK.TO Martin Ratio Rank: 97

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CNDU.TO vs. HBNK.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BetaPro S&P/TSX 60 2x Daily Bull ETF (CNDU.TO) and Global X Equal Weight Banks Index ETF (HBNK.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.

	CNDU.TO	HBNK.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.71	5.75	-3.04
Sortino ratio: Return per unit of downside risk	3.30	7.66	-4.36
Omega ratio: Gain probability vs. loss probability	1.44	2.05	-0.60
Calmar ratio: Return relative to maximum drawdown	4.29	8.78	-4.49
Martin ratio: Return relative to average drawdown	18.81	38.18	-19.38

CNDU.TO vs. HBNK.TO - Sharpe Ratio Comparison

The current CNDU.TO Sharpe Ratio is 2.71, which is lower than the HBNK.TO Sharpe Ratio of 5.75. The chart below compares the historical Sharpe Ratios of CNDU.TO and HBNK.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CNDU.TO vs. HBNK.TO - Drawdown Comparison

The maximum CNDU.TO drawdown since its inception was -78.04%, which is greater than HBNK.TO's maximum drawdown of -14.78%. Use the drawdown chart below to compare losses from any high point for CNDU.TO and HBNK.TO.

Drawdown Indicators

	CNDU.TO	HBNK.TO	Difference
Max Drawdown Largest peak-to-trough decline	-78.04%	-14.78%	-63.26%
Max Drawdown (1Y) Largest decline over 1 year	-15.26%	-8.48%	-6.78%
Max Drawdown (3Y) Largest decline over 3 years	-24.52%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-32.60%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-61.48%	—	—
Current Drawdown Current decline from peak	-1.62%	0.00%	-1.62%
Average Drawdown Average peak-to-trough decline	-23.28%	-2.28%	-21.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.47%	1.95%	+1.52%

Volatility

CNDU.TO vs. HBNK.TO - Volatility Comparison

BetaPro S&P/TSX 60 2x Daily Bull ETF (CNDU.TO) has a higher volatility of 7.12% compared to Global X Equal Weight Banks Index ETF (HBNK.TO) at 4.34%. This indicates that CNDU.TO's price experiences larger fluctuations and is considered to be riskier than HBNK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CNDU.TO	HBNK.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.12%	4.34%	+2.78%
Volatility (6M) Calculated over the trailing 6-month period	19.29%	11.24%	+8.05%
Volatility (1Y) Calculated over the trailing 1-year period	24.15%	12.95%	+11.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.64%	12.71%	+12.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.09%	12.71%	+17.38%

CNDU.TO vs. HBNK.TO - Expense Ratio Comparison

CNDU.TO has a 1.15% expense ratio, which is higher than HBNK.TO's 0.09% expense ratio.

Dividends

CNDU.TO vs. HBNK.TO - Dividend Comparison

CNDU.TO has not paid dividends to shareholders, while HBNK.TO's dividend yield for the trailing twelve months is around 2.57%.

Position	TTM	2025	2024	2023
CNDU.TO BetaPro S&P/TSX 60 2x Daily Bull ETF	0.00%	0.00%	0.00%	0.00%
HBNK.TO Global X Equal Weight Banks Index ETF	2.57%	3.24%	4.15%	2.45%

Frequently Asked Questions

Can I hold both CNDU.TO and HBNK.TO in my portfolio?

CNDU.TO and HBNK.TO have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CNDU.TO or HBNK.TO?

On fees, HBNK.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CNDU.TO or HBNK.TO?

HBNK.TO is cheaper with a 0.09% expense ratio, compared with 1.15% for CNDU.TO.

What is the main difference between CNDU.TO and HBNK.TO?

CNDU.TO is categorized as Leveraged Equities, while HBNK.TO is Financials Equities. CNDU.TO tracks S&P/TSX 60 Index, while HBNK.TO tracks Solactive Equal Weight Canada Banks Index. They also come from different issuers: Horizons ETFs and Global X. Their fees differ too: 1.15% for CNDU.TO and 0.09% for HBNK.TO.