NRGD.TO vs. USCL.TO
NRGD.TO (BetaPro S&P/TSX Capped Energy -2x Daily Bear ETF) and USCL.TO (Global X Enhanced S&P 500 Covered Call ETF) are both exchange-traded funds - NRGD.TO is a Inverse Equities fund actively managed by Global X, while USCL.TO is a Derivative Income fund actively managed by Global X. Both are actively managed. Over the past year, NRGD.TO returned -58.41% vs 29.45% for USCL.TO. At a correlation of -0.04, they often move in opposite directions.
Performance
NRGD.TO vs. USCL.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, NRGD.TO achieves a -42.79% return, which is significantly lower than USCL.TO's 14.39% 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%
USCL.TO
- 1D
- 0.75%
- 1M
- 3.16%
- YTD
- 14.39%
- 6M
- 13.87%
- 1Y
- 29.45%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NRGD.TO vs. USCL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
NRGD.TO BetaPro S&P/TSX Capped Energy -2x Daily Bear ETF | -42.79% | -37.02% | -26.44% | -17.37% |
USCL.TO Global X Enhanced S&P 500 Covered Call ETF | 14.39% | 10.03% | 38.54% | 8.88% |
Correlation
The correlation between NRGD.TO and USCL.TO is 0.09, 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 | 0.09 |
Correlation (All Time) Calculated using the full available price history since Jul 6, 2023 | -0.04 |
The correlation between NRGD.TO and USCL.TO shifts across timeframes, from -0.04 (all time) to 0.09 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
NRGD.TO vs. USCL.TO — Risk / Return Rank
NRGD.TO
USCL.TO
NRGD.TO vs. USCL.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 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.
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 | USCL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.65 | ||
| Sortino ratioReturn per unit of downside risk | -5.53 | ||
| Omega ratioGain probability vs. loss probability | 0.77 | 1.46 | -0.70 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | 3.45 | -4.29 |
| Martin ratioReturn relative to average drawdown | -1.38 | 13.86 | -15.25 |
Loading charts...
Drawdowns
NRGD.TO vs. USCL.TO - Drawdown Comparison
The maximum NRGD.TO drawdown since its inception was -99.97%, 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 NRGD.TO and USCL.TO.
Loading charts...
Drawdown Indicators
| NRGD.TO | USCL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.97% | -21.85% | -78.12% |
Max Drawdown (1Y)Largest decline over 1 year | -70.42% | -8.56% | -61.86% |
Max Drawdown (3Y)Largest decline over 3 years | -85.00% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -98.12% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.92% | — | — |
Current DrawdownCurrent decline from peak | -99.95% | 0.00% | -99.95% |
Average DrawdownAverage peak-to-trough decline | -87.60% | -2.51% | -85.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 42.26% | 2.13% | +40.13% |
Volatility
NRGD.TO vs. USCL.TO - Volatility Comparison
BetaPro S&P/TSX Capped Energy -2x Daily Bear ETF (NRGD.TO) has a higher volatility of 16.23% compared to Global X Enhanced S&P 500 Covered Call ETF (USCL.TO) at 4.57%. This indicates that NRGD.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.
Loading charts...
Volatility by Period
| NRGD.TO | USCL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.23% | 4.57% | +11.66% |
Volatility (6M)Calculated over the trailing 6-month period | 39.50% | 10.09% | +29.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.97% | 12.32% | +34.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.37% | 15.64% | +41.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 67.11% | 15.64% | +51.47% |
Dividends
NRGD.TO vs. USCL.TO - Dividend Comparison
NRGD.TO has not paid dividends to shareholders, while USCL.TO's dividend yield for the trailing twelve months is around 11.69%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
NRGD.TO BetaPro S&P/TSX Capped Energy -2x Daily Bear ETF | 0.00% | 0.00% | 0.00% | 0.00% |
USCL.TO Global X Enhanced S&P 500 Covered Call ETF | 11.69% | 12.94% | 11.57% | 7.08% |
Frequently Asked Questions
NRGD.TO and USCL.TO have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NRGD.TO is categorized as Inverse Equities, while USCL.TO is Derivative Income.
Find the right allocation for NRGD.TO and USCL.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer