QQD.TO vs. CFOD.TO
QQD.TO (BetaPro NASDAQ-100 -2x Daily Bear ETF) and CFOD.TO (BetaPro S&P/TSX Capped Financials -2x Daily Bear ETF) are both Inverse Equities funds from Global X. Both are actively managed. Over the past 10 years, QQD.TO returned -43.50%/yr vs -29.60%/yr for CFOD.TO. A 0.53 correlation means they provide meaningful diversification when combined.
Performance
QQD.TO vs. CFOD.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with QQD.TO having a -32.75% return and CFOD.TO slightly lower at -34.29%. Over the past 10 years, QQD.TO has underperformed CFOD.TO with an annualized return of -43.50%, while CFOD.TO has yielded a comparatively higher -29.60% annualized return.
QQD.TO
- 1D
- -3.58%
- 1M
- -1.76%
- YTD
- -32.75%
- 6M
- -31.73%
- 1Y
- -45.33%
- 3Y*
- -38.44%
- 5Y*
- -31.14%
- 10Y*
- -43.50%
CFOD.TO
- 1D
- -1.41%
- 1M
- -16.18%
- YTD
- -34.29%
- 6M
- -33.59%
- 1Y
- -55.77%
- 3Y*
- -41.80%
- 5Y*
- -29.47%
- 10Y*
- -29.60%
QQD.TO vs. CFOD.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QQD.TO BetaPro NASDAQ-100 -2x Daily Bear ETF | -32.75% | -36.36% | -34.56% | -56.98% | 69.96% | -45.18% | -84.74% | -50.55% | -10.33% | -45.24% |
CFOD.TO BetaPro S&P/TSX Capped Financials -2x Daily Bear ETF | -34.29% | -45.59% | -36.06% | -16.40% | 15.26% | -49.30% | -39.93% | -31.53% | 20.83% | -23.17% |
Correlation
The correlation between QQD.TO and CFOD.TO is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2008 | 0.53 |
The correlation between QQD.TO and CFOD.TO has been stable across timeframes, ranging from 0.46 to 0.53 - a consistent structural relationship.
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Return for Risk
QQD.TO vs. CFOD.TO — Risk / Return Rank
QQD.TO
CFOD.TO
QQD.TO vs. CFOD.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BetaPro NASDAQ-100 -2x Daily Bear ETF (QQD.TO) and BetaPro S&P/TSX Capped Financials -2x Daily Bear ETF (CFOD.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.
| QQD.TO | CFOD.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.00 | ||
| Sortino ratioReturn per unit of downside risk | +1.80 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 0.59 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | -1.00 | +0.01 |
| Martin ratioReturn relative to average drawdown | -1.99 | -1.80 | -0.18 |
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Drawdowns
QQD.TO vs. CFOD.TO - Drawdown Comparison
The maximum QQD.TO drawdown since its inception was -99.99%, roughly equal to the maximum CFOD.TO drawdown of -99.88%. Use the drawdown chart below to compare losses from any high point for QQD.TO and CFOD.TO.
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Drawdown Indicators
| QQD.TO | CFOD.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -99.88% | -0.11% |
Max Drawdown (1Y)Largest decline over 1 year | -45.99% | -55.77% | +9.78% |
Max Drawdown (3Y)Largest decline over 3 years | -80.24% | -84.12% | +3.88% |
Max Drawdown (5Y)Largest decline over 5 years | -89.01% | -84.12% | -4.89% |
Max Drawdown (10Y)Largest decline over 10 years | -99.67% | -97.06% | -2.61% |
Current DrawdownCurrent decline from peak | -99.99% | -99.88% | -0.11% |
Average DrawdownAverage peak-to-trough decline | -92.21% | -86.99% | -5.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.85% | 30.94% | -8.09% |
Volatility
QQD.TO vs. CFOD.TO - Volatility Comparison
BetaPro NASDAQ-100 -2x Daily Bear ETF (QQD.TO) has a higher volatility of 19.06% compared to BetaPro S&P/TSX Capped Financials -2x Daily Bear ETF (CFOD.TO) at 4.97%. This indicates that QQD.TO's price experiences larger fluctuations and is considered to be riskier than CFOD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QQD.TO | CFOD.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.06% | 4.97% | +14.09% |
Volatility (6M)Calculated over the trailing 6-month period | 29.66% | 20.82% | +8.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.04% | 24.70% | +11.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.60% | 27.64% | +17.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.82% | 33.56% | +14.26% |
Dividends
QQD.TO vs. CFOD.TO - Dividend Comparison
Neither QQD.TO nor CFOD.TO has paid dividends to shareholders.
Frequently Asked Questions
QQD.TO and CFOD.TO have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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