SPXI.TO vs. QQCC.TO

Last updated Jul 1, 2026

SPXI.TO (BetaPro S&P 500 Daily Inverse ETF) and QQCC.TO (Global X NASDAQ-100 Covered Call ETF) are both exchange-traded funds - SPXI.TO is a Inverse Equities fund actively managed by Global X, while QQCC.TO is a Nasdaq-100 fund managed by Global X. Over the past 10 years, SPXI.TO returned -13.73%/yr vs 1.44%/yr for QQCC.TO. At a correlation of -0.58, they often move in opposite directions.

Performance

SPXI.TO vs. QQCC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BetaPro S&P 500 Daily Inverse ETF (SPXI.TO) and Global X NASDAQ-100 Covered Call ETF (QQCC.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPXI.TO achieves a -8.32% return, which is significantly lower than QQCC.TO's 19.37% return. Over the past 10 years, SPXI.TO has underperformed QQCC.TO with an annualized return of -13.73%, while QQCC.TO has yielded a comparatively higher 1.44% annualized return.

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%

QQCC.TO

• 1D: 1.17%
• 1M: 3.72%
• YTD: 19.37%
• 6M: 18.83%
• 1Y: 33.76%
• 3Y*: 23.89%
• 5Y*: 0.81%
• 10Y*: 1.44%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SPXI.TO vs. QQCC.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
QQCC.TO Global X NASDAQ-100 Covered Call ETF	19.37%	11.64%	33.42%	35.92%	-55.98%	5.24%	-6.26%	12.55%	-18.79%	15.14%

Correlation

The correlation between SPXI.TO and QQCC.TO is -0.78, 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	-0.78
Correlation (3Y) Calculated over the trailing 3-year period	-0.75
Correlation (5Y) Calculated over the trailing 5-year period	-0.63
Correlation (10Y) Calculated over the trailing 10-year period	-0.60
Correlation (All Time) Calculated using the full available price history since Sep 14, 2011	-0.58

Over the past year, the inverse relationship between SPXI.TO and QQCC.TO has strengthened: their correlation has moved from -0.58 to -0.78, meaning they now move in opposite directions more often than their long-term average.

Return for Risk

SPXI.TO vs. QQCC.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPXI.TO

SPXI.TO Risk / Return Rank: 1
SPXI.TO Sharpe Ratio Rank: 0
SPXI.TO Sortino Ratio Rank: 1
SPXI.TO Omega Ratio Rank: 1
SPXI.TO Calmar Ratio Rank: 1
SPXI.TO Martin Ratio Rank: 0

QQCC.TO

QQCC.TO Risk / Return Rank: 84
QQCC.TO Sharpe Ratio Rank: 85
QQCC.TO Sortino Ratio Rank: 83
QQCC.TO Omega Ratio Rank: 83
QQCC.TO Calmar Ratio Rank: 86
QQCC.TO Martin Ratio Rank: 85

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SPXI.TO vs. QQCC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BetaPro S&P 500 Daily Inverse ETF (SPXI.TO) and Global X NASDAQ-100 Covered Call ETF (QQCC.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.

	SPXI.TO	QQCC.TO	Difference
Sharpe ratio: Return per unit of total volatility	-1.25	2.32	-3.57
Sortino ratio: Return per unit of downside risk	-1.78	3.13	-4.91
Omega ratio: Gain probability vs. loss probability	0.81	1.42	-0.62
Calmar ratio: Return relative to maximum drawdown	-0.93	4.16	-5.10
Martin ratio: Return relative to average drawdown	-1.80	14.76	-16.55

SPXI.TO vs. QQCC.TO - Sharpe Ratio Comparison

The current SPXI.TO Sharpe Ratio is -1.25, which is lower than the QQCC.TO Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of SPXI.TO and QQCC.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SPXI.TO vs. QQCC.TO - Drawdown Comparison

The maximum SPXI.TO drawdown since its inception was -92.06%, which is greater than QQCC.TO's maximum drawdown of -67.77%. Use the drawdown chart below to compare losses from any high point for SPXI.TO and QQCC.TO.

Drawdown Indicators

	SPXI.TO	QQCC.TO	Difference
Max Drawdown Largest peak-to-trough decline	-92.06%	-67.77%	-24.29%
Max Drawdown (1Y) Largest decline over 1 year	-17.10%	-8.15%	-8.95%
Max Drawdown (3Y) Largest decline over 3 years	-42.22%	-22.24%	-19.98%
Max Drawdown (5Y) Largest decline over 5 years	-47.81%	-59.13%	+11.32%
Max Drawdown (10Y) Largest decline over 10 years	-77.60%	-62.91%	-14.69%
Current Drawdown Current decline from peak	-91.94%	-21.01%	-70.93%
Average Drawdown Average peak-to-trough decline	-67.18%	-28.26%	-38.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.91%	2.29%	+6.62%

Volatility

SPXI.TO vs. QQCC.TO - Volatility Comparison

The current volatility for BetaPro S&P 500 Daily Inverse ETF (SPXI.TO) is 5.04%, while Global X NASDAQ-100 Covered Call ETF (QQCC.TO) has a volatility of 7.78%. This indicates that SPXI.TO experiences smaller price fluctuations and is considered to be less risky than QQCC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPXI.TO	QQCC.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.04%	7.78%	-2.74%
Volatility (6M) Calculated over the trailing 6-month period	10.18%	12.24%	-2.06%
Volatility (1Y) Calculated over the trailing 1-year period	12.75%	14.62%	-1.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.02%	28.41%	-11.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.13%	23.30%	-5.17%

Dividends

SPXI.TO vs. QQCC.TO - Dividend Comparison

SPXI.TO has not paid dividends to shareholders, while QQCC.TO's dividend yield for the trailing twelve months is around 10.42%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQCC.TO Global X NASDAQ-100 Covered Call ETF	10.42%	11.27%	9.84%	11.79%	11.06%	2.58%	2.92%	3.14%	3.96%	3.00%	3.36%	4.44%
SPXI.TO BetaPro S&P 500 Daily Inverse ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPXI.TO and QQCC.TO in my portfolio?

SPXI.TO and QQCC.TO have a correlation of -0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between SPXI.TO and QQCC.TO?

SPXI.TO is categorized as Inverse Equities, while QQCC.TO is Nasdaq-100.