GDXD.TO vs. HXS.TO
GDXD.TO (BetaPro Canadian Gold Miners -2x Daily Bear ETF) and HXS.TO (Global X S&P 500 Index Corporate Class ETF) are both exchange-traded funds - GDXD.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. GDXD.TO is actively managed, while HXS.TO is passively managed. Over the past 5 years, GDXD.TO returned -52.75%/yr vs 15.94%/yr for HXS.TO. At a correlation of -0.08, they often move in opposite directions.
Performance
GDXD.TO vs. HXS.TO - Performance Comparison
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Returns By Period
In the year-to-date period, GDXD.TO achieves a -18.91% return, which is significantly lower than HXS.TO's 13.44% return.
GDXD.TO
- 1D
- 1.07%
- 1M
- 26.07%
- YTD
- -18.91%
- 6M
- -17.03%
- 1Y
- -78.68%
- 3Y*
- -67.32%
- 5Y*
- -52.75%
- 10Y*
- -47.44%
HXS.TO
- 1D
- 0.63%
- 1M
- 1.77%
- YTD
- 13.44%
- 6M
- 12.73%
- 1Y
- 26.56%
- 3Y*
- 22.71%
- 5Y*
- 15.94%
- 10Y*
- —
GDXD.TO vs. HXS.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
GDXD.TO BetaPro Canadian Gold Miners -2x Daily Bear ETF | -18.91% | -89.27% | -51.09% | -14.78% | -30.72% | -3.72% | -84.19% | -52.75% |
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 GDXD.TO and HXS.TO is -0.28, 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 | -0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.12 |
Correlation (All Time) Calculated using the full available price history since Feb 21, 2019 | -0.08 |
The correlation between GDXD.TO and HXS.TO shifts across timeframes, from -0.28 (1 year) to -0.08 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GDXD.TO vs. HXS.TO — Risk / Return Rank
GDXD.TO
HXS.TO
GDXD.TO vs. HXS.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BetaPro Canadian Gold Miners -2x Daily Bear ETF (GDXD.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.
| GDXD.TO | HXS.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.01 | ||
| Sortino ratioReturn per unit of downside risk | -4.74 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.39 | -0.59 |
| Calmar ratioReturn relative to maximum drawdown | -0.90 | 3.05 | -3.95 |
| Martin ratioReturn relative to average drawdown | -1.14 | 11.35 | -12.49 |
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Drawdowns
GDXD.TO vs. HXS.TO - Drawdown Comparison
The maximum GDXD.TO drawdown since its inception was -100.00%, 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 GDXD.TO and HXS.TO.
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Drawdown Indicators
| GDXD.TO | HXS.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -27.41% | -72.59% |
Max Drawdown (1Y)Largest decline over 1 year | -87.59% | -8.74% | -78.85% |
Max Drawdown (3Y)Largest decline over 3 years | -98.32% | -18.98% | -79.34% |
Max Drawdown (5Y)Largest decline over 5 years | -98.83% | -22.63% | -76.20% |
Max Drawdown (10Y)Largest decline over 10 years | -99.95% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -0.42% | -99.58% |
Average DrawdownAverage peak-to-trough decline | -94.39% | -4.25% | -90.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 68.90% | 2.35% | +66.55% |
Volatility
GDXD.TO vs. HXS.TO - Volatility Comparison
BetaPro Canadian Gold Miners -2x Daily Bear ETF (GDXD.TO) has a higher volatility of 32.35% compared to Global X S&P 500 Index Corporate Class ETF (HXS.TO) at 4.85%. This indicates that GDXD.TO's price experiences larger fluctuations and is considered to be riskier 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
| GDXD.TO | HXS.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 32.35% | 4.85% | +27.50% |
Volatility (6M)Calculated over the trailing 6-month period | 73.48% | 9.75% | +63.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 91.70% | 12.39% | +79.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.11% | 15.27% | +52.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 68.76% | 17.73% | +51.03% |
Dividends
GDXD.TO vs. HXS.TO - Dividend Comparison
Neither GDXD.TO nor HXS.TO has paid dividends to shareholders.
Frequently Asked Questions
GDXD.TO and HXS.TO 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.
GDXD.TO is categorized as Inverse Equities, while HXS.TO is S&P 500.
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