GLDD.TO vs. HXS.TO
GLDD.TO (BetaPro Gold Bullion -2x Daily Bear ETF) and HXS.TO (Global X S&P 500 Index Corporate Class ETF) are both exchange-traded funds - GLDD.TO is a Inverse Commodities fund actively managed by Global X, while HXS.TO is a S&P 500 fund tracking the S&P 500 Index. GLDD.TO is actively managed, while HXS.TO is passively managed. Over the past 5 years, GLDD.TO returned -28.84%/yr vs 15.94%/yr for HXS.TO. At a 0.04 correlation, their price movements are largely independent.
Performance
GLDD.TO vs. HXS.TO - Performance Comparison
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Returns By Period
In the year-to-date period, GLDD.TO achieves a 1.97% return, which is significantly lower than HXS.TO's 13.44% return.
GLDD.TO
- 1D
- 0.00%
- 1M
- 27.00%
- YTD
- 1.97%
- 6M
- 3.47%
- 1Y
- -40.89%
- 3Y*
- -39.58%
- 5Y*
- -28.84%
- 10Y*
- -21.65%
HXS.TO
- 1D
- 0.63%
- 1M
- 1.77%
- YTD
- 13.44%
- 6M
- 12.73%
- 1Y
- 26.56%
- 3Y*
- 22.71%
- 5Y*
- 15.94%
- 10Y*
- —
GLDD.TO vs. HXS.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
GLDD.TO BetaPro Gold Bullion -2x Daily Bear ETF | 1.97% | -64.15% | -33.44% | -15.90% | -4.30% | 3.46% | -41.85% | -21.93% |
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 GLDD.TO and HXS.TO is -0.14, 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 | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Feb 21, 2019 | 0.04 |
The correlation between GLDD.TO and HXS.TO shifts across timeframes, from -0.14 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GLDD.TO vs. HXS.TO — Risk / Return Rank
GLDD.TO
HXS.TO
GLDD.TO vs. HXS.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BetaPro Gold Bullion -2x Daily Bear ETF (GLDD.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.
| GLDD.TO | HXS.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.91 | ||
| Sortino ratioReturn per unit of downside risk | -4.02 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.39 | -0.51 |
| Calmar ratioReturn relative to maximum drawdown | -0.63 | 3.05 | -3.68 |
| Martin ratioReturn relative to average drawdown | -0.93 | 11.35 | -12.28 |
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Drawdowns
GLDD.TO vs. HXS.TO - Drawdown Comparison
The maximum GLDD.TO drawdown since its inception was -99.33%, 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 GLDD.TO and HXS.TO.
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Drawdown Indicators
| GLDD.TO | HXS.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.33% | -27.41% | -71.92% |
Max Drawdown (1Y)Largest decline over 1 year | -65.45% | -8.74% | -56.71% |
Max Drawdown (3Y)Largest decline over 3 years | -88.50% | -18.98% | -69.52% |
Max Drawdown (5Y)Largest decline over 5 years | -90.20% | -22.63% | -67.57% |
Max Drawdown (10Y)Largest decline over 10 years | -96.12% | — | — |
Current DrawdownCurrent decline from peak | -98.88% | -0.42% | -98.46% |
Average DrawdownAverage peak-to-trough decline | -82.80% | -4.25% | -78.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.02% | 2.35% | +41.67% |
Volatility
GLDD.TO vs. HXS.TO - Volatility Comparison
BetaPro Gold Bullion -2x Daily Bear ETF (GLDD.TO) has a higher volatility of 16.89% compared to Global X S&P 500 Index Corporate Class ETF (HXS.TO) at 4.85%. This indicates that GLDD.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
| GLDD.TO | HXS.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.89% | 4.85% | +12.04% |
Volatility (6M)Calculated over the trailing 6-month period | 45.86% | 9.75% | +36.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.22% | 12.39% | +41.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.71% | 15.27% | +21.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.66% | 17.73% | +31.93% |
Dividends
GLDD.TO vs. HXS.TO - Dividend Comparison
Neither GLDD.TO nor HXS.TO has paid dividends to shareholders.
Frequently Asked Questions
GLDD.TO and HXS.TO have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLDD.TO is categorized as Inverse Commodities, while HXS.TO is S&P 500.
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