NRGD.TO vs. CNDI.TO
NRGD.TO (BetaPro S&P/TSX Capped Energy -2x Daily Bear ETF) and CNDI.TO (BetaPro S&P/TSX 60 Daily Inverse ETF) are both Inverse Equities funds from Global X. Both are actively managed. Over the past 10 years, NRGD.TO returned -39.76%/yr vs -17.66%/yr for CNDI.TO. A 0.60 correlation means they provide meaningful diversification when combined.
Performance
NRGD.TO vs. CNDI.TO - Performance Comparison
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Returns By Period
In the year-to-date period, NRGD.TO achieves a -42.79% return, which is significantly lower than CNDI.TO's -10.01% return. Over the past 10 years, NRGD.TO has underperformed CNDI.TO with an annualized return of -39.76%, while CNDI.TO has yielded a comparatively higher -17.66% annualized return.
NRGD.TO
- 1D
- 0.67%
- 1M
- 15.82%
- YTD
- -42.79%
- 6M
- -42.42%
- 1Y
- -58.41%
- 3Y*
- -39.90%
- 5Y*
- -47.73%
- 10Y*
- -39.76%
CNDI.TO
- 1D
- -0.17%
- 1M
- -1.89%
- YTD
- -10.01%
- 6M
- -9.78%
- 1Y
- -23.26%
- 3Y*
- -15.69%
- 5Y*
- -10.71%
- 10Y*
- -17.66%
NRGD.TO vs. CNDI.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NRGD.TO BetaPro S&P/TSX Capped Energy -2x Daily Bear ETF | -42.79% | -37.02% | -26.44% | -13.09% | -71.68% | -79.40% | -42.84% | -29.09% | 59.29% | 10.52% |
CNDI.TO BetaPro S&P/TSX 60 Daily Inverse ETF | -10.01% | -21.77% | -12.57% | -5.07% | 6.35% | -23.93% | -57.94% | -17.07% | 8.27% | -9.53% |
Correlation
The correlation between NRGD.TO and CNDI.TO is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Oct 29, 2009 | 0.60 |
The correlation between NRGD.TO and CNDI.TO shifts across timeframes, from -0.02 (1 year) to 0.60 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NRGD.TO vs. CNDI.TO — Risk / Return Rank
NRGD.TO
CNDI.TO
NRGD.TO vs. CNDI.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BetaPro S&P/TSX Capped Energy -2x Daily Bear ETF (NRGD.TO) and BetaPro S&P/TSX 60 Daily Inverse ETF (CNDI.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.
| NRGD.TO | CNDI.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.70 | ||
| Sortino ratioReturn per unit of downside risk | +0.53 | ||
| Omega ratioGain probability vs. loss probability | 0.77 | 0.70 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | -0.98 | +0.15 |
| Martin ratioReturn relative to average drawdown | -1.38 | -1.56 | +0.18 |
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Drawdowns
NRGD.TO vs. CNDI.TO - Drawdown Comparison
The maximum NRGD.TO drawdown since its inception was -99.97%, which is greater than CNDI.TO's maximum drawdown of -91.95%. Use the drawdown chart below to compare losses from any high point for NRGD.TO and CNDI.TO.
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Drawdown Indicators
| NRGD.TO | CNDI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.97% | -91.95% | -8.02% |
Max Drawdown (1Y)Largest decline over 1 year | -70.42% | -23.95% | -46.47% |
Max Drawdown (3Y)Largest decline over 3 years | -85.00% | -45.47% | -39.53% |
Max Drawdown (5Y)Largest decline over 5 years | -98.12% | -45.51% | -52.61% |
Max Drawdown (10Y)Largest decline over 10 years | -99.92% | -85.81% | -14.11% |
Current DrawdownCurrent decline from peak | -99.95% | -91.87% | -8.08% |
Average DrawdownAverage peak-to-trough decline | -87.60% | -54.35% | -33.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 42.26% | 14.99% | +27.27% |
Volatility
NRGD.TO vs. CNDI.TO - Volatility Comparison
BetaPro S&P/TSX Capped Energy -2x Daily Bear ETF (NRGD.TO) has a higher volatility of 16.23% compared to BetaPro S&P/TSX 60 Daily Inverse ETF (CNDI.TO) at 3.45%. This indicates that NRGD.TO's price experiences larger fluctuations and is considered to be riskier than CNDI.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NRGD.TO | CNDI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.23% | 3.45% | +12.78% |
Volatility (6M)Calculated over the trailing 6-month period | 39.50% | 9.34% | +30.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.97% | 12.00% | +34.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.37% | 13.07% | +44.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 67.11% | 21.93% | +45.18% |
Dividends
NRGD.TO vs. CNDI.TO - Dividend Comparison
Neither NRGD.TO nor CNDI.TO has paid dividends to shareholders.
Frequently Asked Questions
NRGD.TO and CNDI.TO have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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