GLDU.TO vs. USCL.TO

Last updated Apr 1, 2026

Compare and contrast key facts about BetaPro Gold Bullion 2x Daily Bull ETF (GLDU.TO) and Global X Enhanced S&P 500 Covered Call ETF (USCL.TO).

GLDU.TO and USCL.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GLDU.TO is a passively managed fund by Global X that tracks the performance of the Solactive Gold Front Month MD Rolling Futures Index. It was launched on Jan 22, 2008. USCL.TO is an actively managed fund by Global X. It was launched on Jul 5, 2023.

Performance

GLDU.TO vs. USCL.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BetaPro Gold Bullion 2x Daily Bull ETF (GLDU.TO) and Global X Enhanced S&P 500 Covered Call ETF (USCL.TO). The values are adjusted to include any dividend payments, if applicable.

GLDU.TO vs. USCL.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GLDU.TO BetaPro Gold Bullion 2x Daily Bull ETF	9.50%	128.66%	42.19%	9.58%
USCL.TO Global X Enhanced S&P 500 Covered Call ETF	-5.43%	10.03%	38.54%	4.33%

Returns By Period

In the year-to-date period, GLDU.TO achieves a 9.50% return, which is significantly higher than USCL.TO's -5.43% return.

GLDU.TO

• 1D: 7.51%
• 1M: -22.65%
• YTD: 9.50%
• 6M: 30.74%
• 1Y: 82.43%
• 3Y*: 52.61%
• 5Y*: 31.17%
• 10Y*: 17.13%

USCL.TO

• 1D: 0.00%
• 1M: -6.20%
• YTD: -5.43%
• 6M: -3.57%
• 1Y: 8.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GLDU.TO vs. USCL.TO - Expense Ratio Comparison

GLDU.TO has a 1.15% expense ratio, which is higher than USCL.TO's 0.04% expense ratio.

GLDU.TO

BetaPro Gold Bullion 2x Daily Bull ETF

USCL.TO

Global X Enhanced S&P 500 Covered Call ETF

Return for Risk

GLDU.TO vs. USCL.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GLDU.TO

GLDU.TO Risk / Return Rank: 76
GLDU.TO Sharpe Ratio Rank: 79
GLDU.TO Sortino Ratio Rank: 74
GLDU.TO Omega Ratio Rank: 73
GLDU.TO Calmar Ratio Rank: 81
GLDU.TO Martin Ratio Rank: 73

USCL.TO

USCL.TO Risk / Return Rank: 30
USCL.TO Sharpe Ratio Rank: 27
USCL.TO Sortino Ratio Rank: 28
USCL.TO Omega Ratio Rank: 32
USCL.TO Calmar Ratio Rank: 30
USCL.TO Martin Ratio Rank: 33

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.

GLDU.TO vs. USCL.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BetaPro Gold Bullion 2x Daily Bull ETF (GLDU.TO) and Global X Enhanced S&P 500 Covered Call ETF (USCL.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.

	GLDU.TO	USCL.TO	Difference
Sharpe ratio Return per unit of total volatility	1.50	0.45	+1.05
Sortino ratio Return per unit of downside risk	1.91	0.76	+1.16
Omega ratio Gain probability vs. loss probability	1.28	1.12	+0.15
Calmar ratio Return relative to maximum drawdown	2.29	0.67	+1.63
Martin ratio Return relative to average drawdown	7.72	2.74	+4.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GLDU.TO vs. USCL.TO - Sharpe Ratio Comparison

The current GLDU.TO Sharpe Ratio is 1.50, which is higher than the USCL.TO Sharpe Ratio of 0.45. The chart below compares the historical Sharpe Ratios of GLDU.TO and USCL.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	GLDU.TO	USCL.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.50	0.45	+1.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.88	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	1.04	-0.81

Correlation

The correlation between GLDU.TO and USCL.TO is -0.07. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

GLDU.TO vs. USCL.TO - Dividend Comparison

GLDU.TO has not paid dividends to shareholders, while USCL.TO's dividend yield for the trailing twelve months is around 13.76%.

	TTM	2025	2024	2023
GLDU.TO BetaPro Gold Bullion 2x Daily Bull ETF	0.00%	0.00%	0.00%	0.00%
USCL.TO Global X Enhanced S&P 500 Covered Call ETF	13.76%	12.94%	11.57%	7.08%

Drawdowns

GLDU.TO vs. USCL.TO - Drawdown Comparison

The maximum GLDU.TO drawdown since its inception was -77.99%, which is greater than USCL.TO's maximum drawdown of -21.85%. Use the drawdown chart below to compare losses from any high point for GLDU.TO and USCL.TO.

Drawdown Indicators

	GLDU.TO	USCL.TO	Difference
Max Drawdown Largest peak-to-trough decline	-77.99%	-21.85%	-56.14%
Max Drawdown (1Y) Largest decline over 1 year	-38.13%	-14.94%	-23.19%
Max Drawdown (5Y) Largest decline over 5 years	-41.18%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-49.01%	—	—
Current Drawdown Current decline from peak	-28.76%	-8.56%	-20.20%
Average Drawdown Average peak-to-trough decline	-49.03%	-2.66%	-46.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.33%	3.63%	+7.70%

Volatility

GLDU.TO vs. USCL.TO - Volatility Comparison

BetaPro Gold Bullion 2x Daily Bull ETF (GLDU.TO) has a higher volatility of 21.95% compared to Global X Enhanced S&P 500 Covered Call ETF (USCL.TO) at 5.13%. This indicates that GLDU.TO's price experiences larger fluctuations and is considered to be riskier than USCL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLDU.TO	USCL.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.95%	5.13%	+16.82%
Volatility (6M) Calculated over the trailing 6-month period	48.49%	9.48%	+39.01%
Volatility (1Y) Calculated over the trailing 1-year period	55.12%	20.04%	+35.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.85%	15.62%	+20.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.39%	15.62%	+16.77%