QQD.TO vs. SPXI.TO
QQD.TO (BetaPro NASDAQ-100 -2x Daily Bear ETF) and SPXI.TO (BetaPro S&P 500 Daily Inverse 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 -13.73%/yr for SPXI.TO. A 0.79 correlation means they provide meaningful diversification when combined.
Performance
QQD.TO vs. SPXI.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 SPXI.TO's -8.32% return. Over the past 10 years, QQD.TO has underperformed SPXI.TO with an annualized return of -43.50%, while SPXI.TO has yielded a comparatively higher -13.73% 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%
SPXI.TO
- 1D
- -1.36%
- 1M
- 1.04%
- YTD
- -8.32%
- 6M
- -7.64%
- 1Y
- -15.85%
- 3Y*
- -13.50%
- 5Y*
- -9.78%
- 10Y*
- -13.73%
QQD.TO vs. SPXI.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% |
SPXI.TO BetaPro S&P 500 Daily Inverse ETF | -8.32% | -13.79% | -14.77% | -15.60% | 19.13% | -24.53% | -24.80% | -23.55% | 4.26% | -18.72% |
Correlation
The correlation between QQD.TO and SPXI.TO is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Apr 20, 2010 | 0.79 |
The correlation between QQD.TO and SPXI.TO shifts across timeframes, from 0.79 (all time) to 0.91 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
QQD.TO vs. SPXI.TO — Risk / Return Rank
QQD.TO
SPXI.TO
QQD.TO vs. SPXI.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 Daily Inverse ETF (SPXI.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 | SPXI.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.28 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 0.81 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | -0.93 | -0.05 |
| Martin ratioReturn relative to average drawdown | -1.99 | -1.80 | -0.19 |
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Drawdowns
QQD.TO vs. SPXI.TO - Drawdown Comparison
The maximum QQD.TO drawdown since its inception was -99.99%, which is greater than SPXI.TO's maximum drawdown of -92.06%. Use the drawdown chart below to compare losses from any high point for QQD.TO and SPXI.TO.
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Drawdown Indicators
| QQD.TO | SPXI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -92.06% | -7.93% |
Max Drawdown (1Y)Largest decline over 1 year | -45.99% | -17.10% | -28.89% |
Max Drawdown (3Y)Largest decline over 3 years | -80.24% | -42.22% | -38.02% |
Max Drawdown (5Y)Largest decline over 5 years | -89.01% | -47.81% | -41.20% |
Max Drawdown (10Y)Largest decline over 10 years | -99.67% | -77.60% | -22.07% |
Current DrawdownCurrent decline from peak | -99.99% | -91.94% | -8.05% |
Average DrawdownAverage peak-to-trough decline | -92.21% | -67.18% | -25.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.85% | 8.91% | +13.94% |
Volatility
QQD.TO vs. SPXI.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 Daily Inverse ETF (SPXI.TO) at 5.04%. This indicates that QQD.TO's price experiences larger fluctuations and is considered to be riskier than SPXI.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 | SPXI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.06% | 5.04% | +14.02% |
Volatility (6M)Calculated over the trailing 6-month period | 29.66% | 10.18% | +19.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.04% | 12.75% | +23.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.60% | 17.02% | +28.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.82% | 18.13% | +29.69% |
Dividends
QQD.TO vs. SPXI.TO - Dividend Comparison
Neither QQD.TO nor SPXI.TO has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.91, QQD.TO and SPXI.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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