PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
CNDU.TO vs. SPXU.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CNDU.TO vs. SPXU.TO

Last updated Jul 14, 2026
Documentation

CNDU.TO (BetaPro S&P/TSX 60 2x Daily Bull ETF) and SPXU.TO (BetaPro S&P 500 2x Daily Bull ETF) are both Leveraged Equities funds. CNDU.TO is passively managed, while SPXU.TO is actively managed. Over the past 10 years, CNDU.TO returned 18.94%/yr vs 29.17%/yr for SPXU.TO. A 0.73 correlation means they provide meaningful diversification when combined.

Performance

CNDU.TO vs. SPXU.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 BetaPro S&P 500 2x Daily Bull ETF (SPXU.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, CNDU.TO achieves a 24.45% return, which is significantly higher than SPXU.TO's 15.81% return. Over the past 10 years, CNDU.TO has underperformed SPXU.TO with an annualized return of 18.94%, while SPXU.TO has yielded a comparatively higher 29.17% annualized return.

CNDU.TO

1D
0.21%
1M
3.53%
6M
16.92%
YTD
24.45%
1Y
65.81%
3Y*
40.39%
5Y*
22.83%
10Y*
18.94%

SPXU.TO

1D
-1.33%
1M
1.94%
6M
11.72%
YTD
15.81%
1Y
33.57%
3Y*
29.50%
5Y*
14.83%
10Y*
29.17%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
CNDU.TO
BetaPro S&P/TSX 60 2x Daily Bull ETF		24.45%54.27%34.82%15.07%-17.75%59.19%-5.04%42.32%-19.25%15.77%
SPXU.TO
BetaPro S&P 500 2x Daily Bull ETF		15.81%22.49%40.87%43.60%-40.81%57.51%134.75%61.37%-16.43%42.05%

Correlation

The correlation between CNDU.TO and SPXU.TO is 0.65, 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

0.65

Correlation (3Y)
Calculated over the trailing 3-year period

0.68

Correlation (5Y)
Calculated over the trailing 5-year period

0.73

Correlation (10Y)
Calculated over the trailing 10-year period

0.72

Correlation (All Time)
Calculated using the full available price history since Dec 1, 2008

0.73

The correlation between CNDU.TO and SPXU.TO has been stable across timeframes, ranging from 0.65 to 0.73 - a consistent structural relationship.

CNDU.TO vs. SPXU.TO - Sectors Allocation Comparison

Sectors
CNDU.TO
SPXU.TO

Financial Services

40.3%
11.1%

Energy

17.7%
3.1%

Basic Materials

13.6%
1.7%

Technology

8.8%
39.0%

Industrials

7.8%
7.8%

Consumer Cyclical

3.9%
9.9%

Consumer Defensive

3.2%
4.5%

Utilities

2.6%
2.1%

Communication Services

2.0%
10.6%

Real Estate

0.2%
1.8%

Healthcare

-

8.3%

Financial Services

CNDU.TO
40.3%
SPXU.TO
11.1%

Energy

CNDU.TO
17.7%
SPXU.TO
3.1%

Basic Materials

CNDU.TO
13.6%
SPXU.TO
1.7%

Technology

CNDU.TO
8.8%
SPXU.TO
39.0%

Industrials

CNDU.TO
7.8%
SPXU.TO
7.8%

Consumer Cyclical

CNDU.TO
3.9%
SPXU.TO
9.9%

Consumer Defensive

CNDU.TO
3.2%
SPXU.TO
4.5%

Utilities

CNDU.TO
2.6%
SPXU.TO
2.1%

Communication Services

CNDU.TO
2.0%
SPXU.TO
10.6%

Real Estate

CNDU.TO
0.2%
SPXU.TO
1.8%

Healthcare

CNDU.TO

-

SPXU.TO
8.3%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

BetaPro S&P/TSX 60 2x Daily Bull ETF

BetaPro S&P 500 2x Daily Bull ETF

Often compared with CNDU.TO:
CNDU.TO vs. SLVU.TOCNDU.TO vs. TCND.TOCNDU.TO vs. AMHE.TOCNDU.TO vs. USSL.TOCNDU.TO vs. UPROCNDU.TO vs. HXT.TOCNDU.TO vs. TQQQ.TO
Often compared with SPXU.TO:
SPXU.TO vs. NRGU.TOSPXU.TO vs. CFOU.TOSPXU.TO vs. HSAV.TOSPXU.TO vs. CBIL.TOSPXU.TO vs. SOXU.TOSPXU.TO vs. TQQQ.TOSPXU.TO vs. USCL.TO

Return for Risk

CNDU.TO vs. SPXU.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: 9191
Overall Rank
CNDU.TO Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
CNDU.TO Sortino Ratio Rank: 9090
Sortino Ratio Rank
CNDU.TO Omega Ratio Rank: 9090
Omega Ratio Rank
CNDU.TO Calmar Ratio Rank: 9090
Calmar Ratio Rank
CNDU.TO Martin Ratio Rank: 9393
Martin Ratio Rank
SPXU.TO
SPXU.TO Risk / Return Rank: 4848
Overall Rank
SPXU.TO Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
SPXU.TO Sortino Ratio Rank: 4646
Sortino Ratio Rank
SPXU.TO Omega Ratio Rank: 4646
Omega Ratio Rank
SPXU.TO Calmar Ratio Rank: 4444
Calmar Ratio Rank
SPXU.TO Martin Ratio Rank: 5454
Martin Ratio Rank
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. SPXU.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 BetaPro S&P 500 2x Daily Bull ETF (SPXU.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.TOSPXU.TODifference
Sharpe ratioReturn per unit of total volatility
2.74
1.35

+1.39

Sortino ratioReturn per unit of downside risk
3.32
1.87

+1.45

Omega ratioGain probability vs. loss probability

1.45

1.24

+0.21

Calmar ratioReturn relative to maximum drawdown

4.33

1.80

+2.53

Martin ratioReturn relative to average drawdown

18.96

7.34

+11.62

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

The current CNDU.TO Sharpe Ratio is 2.74, which is higher than the SPXU.TO Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of CNDU.TO and SPXU.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.

Loading charts...

Drawdowns

CNDU.TO vs. SPXU.TO - Drawdown Comparison

The maximum CNDU.TO drawdown since its inception was -78.04%, which is greater than SPXU.TO's maximum drawdown of -59.70%. Use the drawdown chart below to compare losses from any high point for CNDU.TO and SPXU.TO.

Loading charts...

Drawdown Indicators

CNDU.TOSPXU.TODifference

Max Drawdown

Largest peak-to-trough decline

-78.04%

-59.70%

-18.34%

Max Drawdown (1Y)

Largest decline over 1 year

-15.26%

-18.73%

+3.47%

Max Drawdown (3Y)

Largest decline over 3 years

-24.52%

-35.54%

+11.02%

Max Drawdown (5Y)

Largest decline over 5 years

-32.60%

-47.90%

+15.30%

Max Drawdown (10Y)

Largest decline over 10 years

-61.48%

-59.70%

-1.78%

Current Drawdown

Current decline from peak

0.00%

-3.17%

+3.17%

Average Drawdown

Average peak-to-trough decline

-23.22%

-9.72%

-13.50%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.48%

4.58%

-1.10%

Volatility

CNDU.TO vs. SPXU.TO - Volatility Comparison

The current volatility for BetaPro S&P/TSX 60 2x Daily Bull ETF (CNDU.TO) is 4.02%, while BetaPro S&P 500 2x Daily Bull ETF (SPXU.TO) has a volatility of 7.36%. This indicates that CNDU.TO experiences smaller price fluctuations and is considered to be less risky than SPXU.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

CNDU.TOSPXU.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.02%

7.36%

-3.34%

Volatility (6M)

Calculated over the trailing 6-month period

19.10%

19.95%

-0.85%

Volatility (1Y)

Calculated over the trailing 1-year period

24.16%

25.05%

-0.89%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

25.62%

33.74%

-8.12%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

30.03%

47.76%

-17.73%

Dividends

CNDU.TO vs. SPXU.TO - Dividend Comparison

Neither CNDU.TO nor SPXU.TO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

CNDU.TO and SPXU.TO have a correlation of 0.65, 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: Horizons ETFs and Global X.

Portfolio Optimizer

Find the right allocation for CNDU.TO and SPXU.TO

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