GDXU.TO vs. CNDU.TO
GDXU.TO (BetaPro Canadian Gold Miners 2x Daily Bull ETF) and CNDU.TO (BetaPro S&P/TSX 60 2x Daily Bull ETF) are both Leveraged Equities funds. GDXU.TO is actively managed, while CNDU.TO is passively managed. Over the past 10 years, GDXU.TO returned 11.19%/yr vs 19.31%/yr for CNDU.TO. At a 0.35 correlation, their price movements are largely independent.
Performance
GDXU.TO vs. CNDU.TO - Performance Comparison
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Returns By Period
In the year-to-date period, GDXU.TO achieves a -28.76% return, which is significantly lower than CNDU.TO's 20.39% return. Over the past 10 years, GDXU.TO has underperformed CNDU.TO with an annualized return of 11.19%, while CNDU.TO has yielded a comparatively higher 19.31% annualized return.
GDXU.TO
- 1D
- -0.19%
- 1M
- -28.04%
- YTD
- -28.76%
- 6M
- -30.23%
- 1Y
- 101.37%
- 3Y*
- 82.36%
- 5Y*
- 35.57%
- 10Y*
- 11.19%
CNDU.TO
- 1D
- 0.26%
- 1M
- 3.13%
- YTD
- 20.39%
- 6M
- 18.97%
- 1Y
- 61.85%
- 3Y*
- 38.99%
- 5Y*
- 22.02%
- 10Y*
- 19.31%
GDXU.TO vs. CNDU.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GDXU.TO BetaPro Canadian Gold Miners 2x Daily Bull ETF | -28.76% | 432.04% | 49.04% | 1.08% | -13.97% | -26.64% | 17.12% | 83.28% | -19.95% | -12.53% |
CNDU.TO BetaPro S&P/TSX 60 2x Daily Bull ETF | 20.39% | 54.27% | 34.82% | 15.07% | -17.75% | 59.19% | -5.04% | 42.32% | -19.25% | 15.77% |
Correlation
The correlation between GDXU.TO and CNDU.TO is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2007 | 0.35 |
Over the past year, GDXU.TO and CNDU.TO have become more correlated (0.62) than their long-term average of 0.35, meaning their price movements have been converging.
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Return for Risk
GDXU.TO vs. CNDU.TO — Risk / Return Rank
GDXU.TO
CNDU.TO
GDXU.TO vs. CNDU.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BetaPro Canadian Gold Miners 2x Daily Bull ETF (GDXU.TO) and BetaPro S&P/TSX 60 2x Daily Bull ETF (CNDU.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.
| GDXU.TO | CNDU.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.47 | ||
| Sortino ratioReturn per unit of downside risk | -1.48 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.43 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.68 | 4.07 | -2.39 |
| Martin ratioReturn relative to average drawdown | 3.88 | 17.82 | -13.94 |
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Drawdowns
GDXU.TO vs. CNDU.TO - Drawdown Comparison
The maximum GDXU.TO drawdown since its inception was -98.01%, which is greater than CNDU.TO's maximum drawdown of -78.04%. Use the drawdown chart below to compare losses from any high point for GDXU.TO and CNDU.TO.
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Drawdown Indicators
| GDXU.TO | CNDU.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.01% | -78.04% | -19.97% |
Max Drawdown (1Y)Largest decline over 1 year | -60.60% | -15.26% | -45.34% |
Max Drawdown (3Y)Largest decline over 3 years | -60.60% | -24.52% | -36.08% |
Max Drawdown (5Y)Largest decline over 5 years | -62.92% | -32.60% | -30.32% |
Max Drawdown (10Y)Largest decline over 10 years | -79.29% | -61.48% | -17.81% |
Current DrawdownCurrent decline from peak | -58.27% | -1.77% | -56.50% |
Average DrawdownAverage peak-to-trough decline | -78.33% | -23.26% | -55.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.19% | 3.48% | +22.71% |
Volatility
GDXU.TO vs. CNDU.TO - Volatility Comparison
BetaPro Canadian Gold Miners 2x Daily Bull ETF (GDXU.TO) has a higher volatility of 32.90% compared to BetaPro S&P/TSX 60 2x Daily Bull ETF (CNDU.TO) at 6.83%. This indicates that GDXU.TO's price experiences larger fluctuations and is considered to be riskier than CNDU.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GDXU.TO | CNDU.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 32.90% | 6.83% | +26.07% |
Volatility (6M)Calculated over the trailing 6-month period | 76.15% | 19.30% | +56.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 91.66% | 24.07% | +67.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.25% | 25.63% | +42.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 67.32% | 30.05% | +37.27% |
Dividends
GDXU.TO vs. CNDU.TO - Dividend Comparison
Neither GDXU.TO nor CNDU.TO has paid dividends to shareholders.
Frequently Asked Questions
GDXU.TO and CNDU.TO have a correlation of 0.62, 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 Horizons ETFs.
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