CNDU.TO vs. VXC.TO

Last updated Jul 18, 2026

CNDU.TO (BetaPro S&P/TSX 60 2x Daily Bull ETF) and VXC.TO (Vanguard FTSE Global All Cap ex Canada Index ETF) are both exchange-traded funds - CNDU.TO is a Leveraged Equities fund tracking the S&P/TSX 60 Index, while VXC.TO is a Global Equities fund tracking the FTSE Global All Cap ex Canada China A Inclusion Index. Both are passively managed. Over the past 10 years, CNDU.TO returned 18.90%/yr vs 12.66%/yr for VXC.TO. A 0.67 correlation means they provide meaningful diversification when combined. CNDU.TO charges 1.15%/yr vs 0.22%/yr for VXC.TO.

Performance

CNDU.TO vs. VXC.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 Vanguard FTSE Global All Cap ex Canada Index ETF (VXC.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 24.66% return, which is significantly higher than VXC.TO's 12.52% return. Over the past 10 years, CNDU.TO has outperformed VXC.TO with an annualized return of 18.90%, while VXC.TO has yielded a comparatively lower 12.66% annualized return.

CNDU.TO

• 1D: -0.49%
• 1M: 2.81%
• 6M: 16.57%
• YTD: 24.66%
• 1Y: 60.78%
• 3Y*: 40.07%
• 5Y*: 23.18%
• 10Y*: 18.90%

VXC.TO

• 1D: -0.90%
• 1M: -1.51%
• 6M: 8.02%
• YTD: 12.52%
• 1Y: 22.99%
• 3Y*: 20.00%
• 5Y*: 12.53%
• 10Y*: 12.66%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CNDU.TO BetaPro S&P/TSX 60 2x Daily Bull ETF	24.66%	54.27%	34.82%	15.07%	-17.75%	59.19%	-5.04%	42.32%	-19.25%	15.77%
VXC.TO Vanguard FTSE Global All Cap ex Canada Index ETF	12.52%	16.12%	26.06%	19.20%	-13.02%	17.21%	14.14%	20.47%	-3.34%	15.95%

Correlation

The correlation between CNDU.TO and VXC.TO is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since Jul 9, 2014	0.67

The correlation between CNDU.TO and VXC.TO has been stable across timeframes, ranging from 0.64 to 0.70 - a consistent structural relationship.

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

Sectors	CNDU.TO	VXC.TO
Financial Services	40.3%	14.3%
Energy	17.7%	3.4%
Basic Materials	13.6%	2.9%
Technology	8.8%	35.7%
Industrials	7.8%	9.8%
Consumer Cyclical	3.9%	8.9%
Consumer Defensive	3.2%	4.3%
Utilities	2.6%	2.4%
Communication Services	2.0%	8.5%
Real Estate	0.2%	1.4%
Healthcare	-	8.2%

Return for Risk

CNDU.TO vs. VXC.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: 90
CNDU.TO Sharpe Ratio Rank: 92
CNDU.TO Sortino Ratio Rank: 87
CNDU.TO Omega Ratio Rank: 88
CNDU.TO Calmar Ratio Rank: 89
CNDU.TO Martin Ratio Rank: 93

VXC.TO

VXC.TO Risk / Return Rank: 70
VXC.TO Sharpe Ratio Rank: 68
VXC.TO Sortino Ratio Rank: 67
VXC.TO Omega Ratio Rank: 69
VXC.TO Calmar Ratio Rank: 70
VXC.TO Martin Ratio Rank: 76

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. VXC.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 Vanguard FTSE Global All Cap ex Canada Index ETF (VXC.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	VXC.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.55	1.76	+0.79
Sortino ratio: Return per unit of downside risk	3.13	2.47	+0.67
Omega ratio: Gain probability vs. loss probability	1.43	1.33	+0.10
Calmar ratio: Return relative to maximum drawdown	4.00	2.80	+1.20
Martin ratio: Return relative to average drawdown	17.52	10.95	+6.57

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

The current CNDU.TO Sharpe Ratio is 2.55, which is higher than the VXC.TO Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of CNDU.TO and VXC.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. VXC.TO - Drawdown Comparison

The maximum CNDU.TO drawdown since its inception was -78.04%, which is greater than VXC.TO's maximum drawdown of -27.28%. Use the drawdown chart below to compare losses from any high point for CNDU.TO and VXC.TO.

Drawdown Indicators

	CNDU.TO	VXC.TO	Difference
Max Drawdown Largest peak-to-trough decline	-78.04%	-27.28%	-50.76%
Max Drawdown (1Y) Largest decline over 1 year	-15.26%	-8.24%	-7.02%
Max Drawdown (3Y) Largest decline over 3 years	-24.52%	-16.76%	-7.76%
Max Drawdown (5Y) Largest decline over 5 years	-32.60%	-21.61%	-10.99%
Max Drawdown (10Y) Largest decline over 10 years	-61.48%	-27.28%	-34.20%
Current Drawdown Current decline from peak	-0.51%	-3.38%	+2.87%
Average Drawdown Average peak-to-trough decline	-23.20%	-3.86%	-19.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.48%	2.11%	+1.37%

Volatility

CNDU.TO vs. VXC.TO - Volatility Comparison

BetaPro S&P/TSX 60 2x Daily Bull ETF (CNDU.TO) and Vanguard FTSE Global All Cap ex Canada Index ETF (VXC.TO) have volatilities of 3.55% and 3.66%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CNDU.TO	VXC.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.55%	3.66%	-0.11%
Volatility (6M) Calculated over the trailing 6-month period	19.11%	11.02%	+8.09%
Volatility (1Y) Calculated over the trailing 1-year period	24.06%	13.17%	+10.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.58%	13.87%	+11.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.02%	15.27%	+14.75%

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

CNDU.TO has a 1.15% expense ratio, which is higher than VXC.TO's 0.22% expense ratio.

Dividends

CNDU.TO vs. VXC.TO - Dividend Comparison

CNDU.TO has not paid dividends to shareholders, while VXC.TO's dividend yield for the trailing twelve months is around 1.26%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CNDU.TO BetaPro S&P/TSX 60 2x Daily Bull ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VXC.TO Vanguard FTSE Global All Cap ex Canada Index ETF	1.26%	1.39%	1.45%	1.69%	1.82%	1.49%	1.46%	1.81%	1.95%	1.68%	1.86%	1.83%

Frequently Asked Questions

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

CNDU.TO and VXC.TO have a correlation of 0.64, 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 VXC.TO?

On fees, VXC.TO is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

VXC.TO is cheaper with a 0.22% expense ratio, compared with 1.15% for CNDU.TO.

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

CNDU.TO is categorized as Leveraged Equities, while VXC.TO is Global Equities. CNDU.TO tracks S&P/TSX 60 Index, while VXC.TO tracks FTSE Global All Cap ex Canada China A Inclusion Index. They also come from different issuers: Horizons ETFs and Vanguard. Their fees differ too: 1.15% for CNDU.TO and 0.22% for VXC.TO.