SPXD.TO vs. QQCL.TO
SPXD.TO (BetaPro S&P 500 -2x Daily Bear ETF) and QQCL.TO (Global X Enhanced NASDAQ-100 Covered Call ETF) are both exchange-traded funds - SPXD.TO is a Inverse Equities fund actively managed by Global X, while QQCL.TO is a Nasdaq-100 fund actively managed by Global X. Both are actively managed. Over the past year, SPXD.TO returned -30.42% vs 42.71% for QQCL.TO. At a correlation of -0.78, they often move in opposite directions.
Performance
SPXD.TO vs. QQCL.TO - Performance Comparison
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Returns By Period
In the year-to-date period, SPXD.TO achieves a -16.73% return, which is significantly lower than QQCL.TO's 24.17% 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%
QQCL.TO
- 1D
- 1.94%
- 1M
- 4.61%
- YTD
- 24.17%
- 6M
- 23.29%
- 1Y
- 42.71%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPXD.TO vs. QQCL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SPXD.TO BetaPro S&P 500 -2x Daily Bear ETF | -16.73% | -28.74% | -30.20% | -15.39% |
QQCL.TO Global X Enhanced NASDAQ-100 Covered Call ETF | 24.17% | 13.10% | 41.38% | 4.96% |
Correlation
The correlation between SPXD.TO and QQCL.TO is -0.80, 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 | -0.80 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2023 | -0.78 |
The correlation between SPXD.TO and QQCL.TO has been stable across timeframes, ranging from -0.80 to -0.78 - a consistent structural relationship.
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Return for Risk
SPXD.TO vs. QQCL.TO — Risk / Return Rank
SPXD.TO
QQCL.TO
SPXD.TO vs. QQCL.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 Enhanced NASDAQ-100 Covered Call ETF (QQCL.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 | QQCL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.62 | ||
| Sortino ratioReturn per unit of downside risk | -4.94 | ||
| Omega ratioGain probability vs. loss probability | 0.80 | 1.43 | -0.63 |
| Calmar ratioReturn relative to maximum drawdown | -0.95 | 4.01 | -4.96 |
| Martin ratioReturn relative to average drawdown | -1.77 | 14.50 | -16.27 |
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Drawdowns
SPXD.TO vs. QQCL.TO - Drawdown Comparison
The maximum SPXD.TO drawdown since its inception was -99.93%, which is greater than QQCL.TO's maximum drawdown of -25.63%. Use the drawdown chart below to compare losses from any high point for SPXD.TO and QQCL.TO.
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Drawdown Indicators
| SPXD.TO | QQCL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.93% | -25.63% | -74.30% |
Max Drawdown (1Y)Largest decline over 1 year | -32.29% | -10.70% | -21.59% |
Max Drawdown (3Y)Largest decline over 3 years | -69.67% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -76.70% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -98.25% | — | — |
Current DrawdownCurrent decline from peak | -99.93% | 0.00% | -99.93% |
Average DrawdownAverage peak-to-trough decline | -89.70% | -3.29% | -86.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.51% | 2.95% | +14.56% |
Volatility
SPXD.TO vs. QQCL.TO - Volatility Comparison
BetaPro S&P 500 -2x Daily Bear ETF (SPXD.TO) has a higher volatility of 10.53% compared to Global X Enhanced NASDAQ-100 Covered Call ETF (QQCL.TO) at 9.02%. This indicates that SPXD.TO's price experiences larger fluctuations and is considered to be riskier than QQCL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPXD.TO | QQCL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.53% | 9.02% | +1.51% |
Volatility (6M)Calculated over the trailing 6-month period | 20.21% | 14.94% | +5.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.07% | 17.85% | +7.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.77% | 20.77% | +13.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.74% | 20.77% | +17.97% |
Dividends
SPXD.TO vs. QQCL.TO - Dividend Comparison
SPXD.TO has not paid dividends to shareholders, while QQCL.TO's dividend yield for the trailing twelve months is around 12.99%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
QQCL.TO Global X Enhanced NASDAQ-100 Covered Call ETF | 12.99% | 14.54% | 11.87% | 3.68% |
SPXD.TO BetaPro S&P 500 -2x Daily Bear ETF | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPXD.TO and QQCL.TO have a correlation of -0.80, 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 QQCL.TO is Nasdaq-100.
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