SPXD.TO vs. HXS.TO
SPXD.TO (BetaPro S&P 500 -2x Daily Bear ETF) and HXS.TO (Global X S&P 500 Index Corporate Class ETF) are both exchange-traded funds - SPXD.TO is a Inverse Equities fund actively managed by Global X, while HXS.TO is a S&P 500 fund tracking the S&P 500 Index. SPXD.TO is actively managed, while HXS.TO is passively managed. Over the past 5 years, SPXD.TO returned -21.90%/yr vs 15.94%/yr for HXS.TO. At a correlation of -0.88, they often move in opposite directions.
Performance
SPXD.TO vs. HXS.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SPXD.TO achieves a -16.73% return, which is significantly lower than HXS.TO's 13.44% return.
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%
HXS.TO
- 1D
- 0.63%
- 1M
- 1.77%
- YTD
- 13.44%
- 6M
- 12.73%
- 1Y
- 26.56%
- 3Y*
- 22.71%
- 5Y*
- 15.94%
- 10Y*
- —
SPXD.TO vs. HXS.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SPXD.TO BetaPro S&P 500 -2x Daily Bear ETF | -16.73% | -28.74% | -30.20% | -32.04% | 32.32% | -43.18% | -74.72% | -28.04% |
HXS.TO Global X S&P 500 Index Corporate Class ETF | 13.44% | 11.93% | 34.98% | 23.22% | -12.72% | 27.30% | 15.78% | 15.85% |
Correlation
The correlation between SPXD.TO and HXS.TO is -0.89, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.89 |
Correlation (All Time) Calculated using the full available price history since Feb 21, 2019 | -0.88 |
The correlation between SPXD.TO and HXS.TO has been stable across timeframes, ranging from -0.89 to -0.88 - a consistent structural relationship.
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
SPXD.TO vs. HXS.TO — Risk / Return Rank
SPXD.TO
HXS.TO
SPXD.TO vs. HXS.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BetaPro S&P 500 -2x Daily Bear ETF (SPXD.TO) and Global X S&P 500 Index Corporate Class ETF (HXS.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.
| SPXD.TO | HXS.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.37 | ||
| Sortino ratioReturn per unit of downside risk | -4.76 | ||
| Omega ratioGain probability vs. loss probability | 0.80 | 1.39 | -0.59 |
| Calmar ratioReturn relative to maximum drawdown | -0.95 | 3.05 | -4.01 |
| Martin ratioReturn relative to average drawdown | -1.77 | 11.35 | -13.11 |
Loading charts...
Drawdowns
SPXD.TO vs. HXS.TO - Drawdown Comparison
The maximum SPXD.TO drawdown since its inception was -99.93%, which is greater than HXS.TO's maximum drawdown of -27.41%. Use the drawdown chart below to compare losses from any high point for SPXD.TO and HXS.TO.
Loading charts...
Drawdown Indicators
| SPXD.TO | HXS.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.93% | -27.41% | -72.52% |
Max Drawdown (1Y)Largest decline over 1 year | -32.29% | -8.74% | -23.55% |
Max Drawdown (3Y)Largest decline over 3 years | -69.67% | -18.98% | -50.69% |
Max Drawdown (5Y)Largest decline over 5 years | -76.70% | -22.63% | -54.07% |
Max Drawdown (10Y)Largest decline over 10 years | -98.25% | — | — |
Current DrawdownCurrent decline from peak | -99.93% | -0.42% | -99.51% |
Average DrawdownAverage peak-to-trough decline | -89.70% | -4.25% | -85.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.51% | 2.35% | +15.16% |
Volatility
SPXD.TO vs. HXS.TO - Volatility Comparison
BetaPro S&P 500 -2x Daily Bear ETF (SPXD.TO) has a higher volatility of 10.53% compared to Global X S&P 500 Index Corporate Class ETF (HXS.TO) at 4.85%. This indicates that SPXD.TO's price experiences larger fluctuations and is considered to be riskier than HXS.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SPXD.TO | HXS.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.53% | 4.85% | +5.68% |
Volatility (6M)Calculated over the trailing 6-month period | 20.21% | 9.75% | +10.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.07% | 12.39% | +12.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.77% | 15.27% | +18.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.74% | 17.73% | +21.01% |
Dividends
SPXD.TO vs. HXS.TO - Dividend Comparison
Neither SPXD.TO nor HXS.TO has paid dividends to shareholders.
Frequently Asked Questions
SPXD.TO and HXS.TO have a correlation of -0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPXD.TO is categorized as Inverse Equities, while HXS.TO is S&P 500.
Find the right allocation for SPXD.TO and HXS.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