QQD.TO vs. SPXD.TO
QQD.TO (BetaPro NASDAQ-100 -2x Daily Bear ETF) and SPXD.TO (BetaPro S&P 500 -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 -33.02%/yr for SPXD.TO. Their correlation of 0.89 suggests significant overlap in exposure.
Performance
QQD.TO vs. SPXD.TO - Performance Comparison
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Returns By Period
In the year-to-date period, QQD.TO achieves a -32.75% return, which is significantly lower than SPXD.TO's -16.73% return. Over the past 10 years, QQD.TO has underperformed SPXD.TO with an annualized return of -43.50%, while SPXD.TO has yielded a comparatively higher -33.02% 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%
SPXD.TO
- 1D
- -1.59%
- 1M
- 2.08%
- YTD
- -16.73%
- 6M
- -15.52%
- 1Y
- -30.42%
- 3Y*
- -28.05%
- 5Y*
- -21.90%
- 10Y*
- -33.02%
QQD.TO vs. SPXD.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% |
SPXD.TO BetaPro S&P 500 -2x Daily Bear ETF | -16.73% | -28.74% | -30.20% | -32.04% | 32.32% | -43.18% | -74.72% | -42.74% | 5.32% | -33.38% |
Correlation
The correlation between QQD.TO and SPXD.TO is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2008 | 0.89 |
The correlation between QQD.TO and SPXD.TO has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.
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Return for Risk
QQD.TO vs. SPXD.TO — Risk / Return Rank
QQD.TO
SPXD.TO
QQD.TO vs. SPXD.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 500 -2x Daily Bear ETF (SPXD.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 | SPXD.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.25 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 0.80 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | -0.95 | -0.04 |
| Martin ratioReturn relative to average drawdown | -1.99 | -1.77 | -0.22 |
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Drawdowns
QQD.TO vs. SPXD.TO - Drawdown Comparison
The maximum QQD.TO drawdown since its inception was -99.99%, roughly equal to the maximum SPXD.TO drawdown of -99.93%. Use the drawdown chart below to compare losses from any high point for QQD.TO and SPXD.TO.
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Drawdown Indicators
| QQD.TO | SPXD.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -99.93% | -0.06% |
Max Drawdown (1Y)Largest decline over 1 year | -45.99% | -32.29% | -13.70% |
Max Drawdown (3Y)Largest decline over 3 years | -80.24% | -69.67% | -10.57% |
Max Drawdown (5Y)Largest decline over 5 years | -89.01% | -76.70% | -12.31% |
Max Drawdown (10Y)Largest decline over 10 years | -99.67% | -98.25% | -1.42% |
Current DrawdownCurrent decline from peak | -99.99% | -99.93% | -0.06% |
Average DrawdownAverage peak-to-trough decline | -92.21% | -89.70% | -2.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.85% | 17.51% | +5.34% |
Volatility
QQD.TO vs. SPXD.TO - Volatility Comparison
BetaPro NASDAQ-100 -2x Daily Bear ETF (QQD.TO) has a higher volatility of 19.06% compared to BetaPro S&P 500 -2x Daily Bear ETF (SPXD.TO) at 10.53%. This indicates that QQD.TO's price experiences larger fluctuations and is considered to be riskier than SPXD.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 | SPXD.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.06% | 10.53% | +8.53% |
Volatility (6M)Calculated over the trailing 6-month period | 29.66% | 20.21% | +9.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.04% | 25.07% | +10.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.60% | 33.77% | +11.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.82% | 38.74% | +9.08% |
Dividends
QQD.TO vs. SPXD.TO - Dividend Comparison
Neither QQD.TO nor SPXD.TO has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.92, QQD.TO and SPXD.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
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