SPXU.TO vs. CNDU.TO
SPXU.TO (BetaPro S&P 500 2x Daily Bull ETF) and CNDU.TO (BetaPro S&P/TSX 60 2x Daily Bull ETF) are both Leveraged Equities funds. SPXU.TO is actively managed, while CNDU.TO is passively managed. Over the past 10 years, SPXU.TO returned 29.91%/yr vs 19.31%/yr for CNDU.TO. A 0.73 correlation means they provide meaningful diversification when combined.
Performance
SPXU.TO vs. CNDU.TO - Performance Comparison
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Returns By Period
In the year-to-date period, SPXU.TO achieves a 15.21% return, which is significantly lower than CNDU.TO's 20.39% return. Over the past 10 years, SPXU.TO has outperformed CNDU.TO with an annualized return of 29.91%, while CNDU.TO has yielded a comparatively lower 19.31% annualized return.
SPXU.TO
- 1D
- 1.52%
- 1M
- -2.98%
- YTD
- 15.21%
- 6M
- 13.36%
- 1Y
- 34.85%
- 3Y*
- 30.13%
- 5Y*
- 15.50%
- 10Y*
- 29.91%
CNDU.TO
- 1D
- 0.26%
- 1M
- 3.13%
- YTD
- 20.39%
- 6M
- 18.97%
- 1Y
- 61.85%
- 3Y*
- 38.99%
- 5Y*
- 22.02%
- 10Y*
- 19.31%
SPXU.TO vs. CNDU.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPXU.TO BetaPro S&P 500 2x Daily Bull ETF | 15.21% | 22.49% | 40.87% | 43.60% | -40.81% | 57.51% | 134.75% | 61.37% | -16.43% | 42.05% |
CNDU.TO BetaPro S&P/TSX 60 2x Daily Bull ETF | 20.39% | 54.27% | 34.82% | 15.07% | -17.75% | 59.19% | -5.04% | 42.32% | -19.25% | 15.77% |
Correlation
The correlation between SPXU.TO and CNDU.TO is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Dec 1, 2008 | 0.73 |
The correlation between SPXU.TO and CNDU.TO has been stable across timeframes, ranging from 0.66 to 0.73 - a consistent structural relationship.
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Return for Risk
SPXU.TO vs. CNDU.TO — Risk / Return Rank
SPXU.TO
CNDU.TO
SPXU.TO vs. CNDU.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BetaPro S&P 500 2x Daily Bull ETF (SPXU.TO) and BetaPro S&P/TSX 60 2x Daily Bull ETF (CNDU.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.
| SPXU.TO | CNDU.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.18 | ||
| Sortino ratioReturn per unit of downside risk | -1.25 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.43 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.87 | 4.07 | -2.20 |
| Martin ratioReturn relative to average drawdown | 7.68 | 17.82 | -10.14 |
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Drawdowns
SPXU.TO vs. CNDU.TO - Drawdown Comparison
The maximum SPXU.TO drawdown since its inception was -59.70%, smaller than the maximum CNDU.TO drawdown of -78.04%. Use the drawdown chart below to compare losses from any high point for SPXU.TO and CNDU.TO.
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Drawdown Indicators
| SPXU.TO | CNDU.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.70% | -78.04% | +18.34% |
Max Drawdown (1Y)Largest decline over 1 year | -18.73% | -15.26% | -3.47% |
Max Drawdown (3Y)Largest decline over 3 years | -35.54% | -24.52% | -11.02% |
Max Drawdown (5Y)Largest decline over 5 years | -47.90% | -32.60% | -15.30% |
Max Drawdown (10Y)Largest decline over 10 years | -59.70% | -61.48% | +1.78% |
Current DrawdownCurrent decline from peak | -3.68% | -1.77% | -1.91% |
Average DrawdownAverage peak-to-trough decline | -9.73% | -23.26% | +13.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.55% | 3.48% | +1.07% |
Volatility
SPXU.TO vs. CNDU.TO - Volatility Comparison
BetaPro S&P 500 2x Daily Bull ETF (SPXU.TO) has a higher volatility of 10.15% compared to BetaPro S&P/TSX 60 2x Daily Bull ETF (CNDU.TO) at 6.83%. This indicates that SPXU.TO's price experiences larger fluctuations and is considered to be riskier than CNDU.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPXU.TO | CNDU.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.15% | 6.83% | +3.32% |
Volatility (6M)Calculated over the trailing 6-month period | 19.93% | 19.30% | +0.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.95% | 24.07% | +0.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.77% | 25.63% | +8.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.76% | 30.05% | +17.71% |
Dividends
SPXU.TO vs. CNDU.TO - Dividend Comparison
Neither SPXU.TO nor CNDU.TO has paid dividends to shareholders.
Frequently Asked Questions
SPXU.TO and CNDU.TO have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Global X and Horizons ETFs.
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