SPXU.TO vs. HEQL.TO

Last updated Jul 1, 2026

SPXU.TO (BetaPro S&P 500 2x Daily Bull ETF) and HEQL.TO (Global X Enhanced All-Equity Asset Allocation ETF CAD) are both Leveraged Equities funds from Global X. Both are actively managed. Their correlation of 0.86 suggests significant overlap in exposure.

Performance

SPXU.TO vs. HEQL.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BetaPro S&P 500 2x Daily Bull ETF (SPXU.TO) and Global X Enhanced All-Equity Asset Allocation ETF CAD (HEQL.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

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%

HEQL.TO

• 1D: 0.80%
• 1M: 3.22%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPXU.TO vs. HEQL.TO - Yearly Performance Comparison

	2026 (YTD)
SPXU.TO BetaPro S&P 500 2x Daily Bull ETF	14.11%
HEQL.TO Global X Enhanced All-Equity Asset Allocation ETF CAD	15.23%

Correlation

The correlation between SPXU.TO and HEQL.TO is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 20, 2026	0.86

Return for Risk

SPXU.TO vs. HEQL.TO — Risk / Return Rank

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

SPXU.TO

SPXU.TO Risk / Return Rank: 45
SPXU.TO Sharpe Ratio Rank: 46
SPXU.TO Sortino Ratio Rank: 43
SPXU.TO Omega Ratio Rank: 43
SPXU.TO Calmar Ratio Rank: 43
SPXU.TO Martin Ratio Rank: 52

HEQL.TO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

SPXU.TO vs. HEQL.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 Global X Enhanced All-Equity Asset Allocation ETF CAD (HEQL.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	HEQL.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.40	—	—
Sortino ratio: Return per unit of downside risk	1.93	—	—
Omega ratio: Gain probability vs. loss probability	1.25	—	—
Calmar ratio: Return relative to maximum drawdown	1.87	—	—
Martin ratio: Return relative to average drawdown	7.68	—	—

Drawdowns

SPXU.TO vs. HEQL.TO - Drawdown Comparison

The maximum SPXU.TO drawdown since its inception was -59.70%, which is greater than HEQL.TO's maximum drawdown of -10.69%. Use the drawdown chart below to compare losses from any high point for SPXU.TO and HEQL.TO.

Drawdown Indicators

	SPXU.TO	HEQL.TO	Difference
Max Drawdown Largest peak-to-trough decline	-59.70%	-10.69%	-49.01%
Max Drawdown (1Y) Largest decline over 1 year	-18.73%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-35.54%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-47.90%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-59.70%	—	—
Current Drawdown Current decline from peak	-3.68%	-0.36%	-3.32%
Average Drawdown Average peak-to-trough decline	-9.73%	-2.11%	-7.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.55%	—	—

Volatility

Volatility by Period

	SPXU.TO	HEQL.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.15%	—	—
Volatility (6M) Calculated over the trailing 6-month period	19.93%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	24.95%	18.63%	+6.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.77%	18.63%	+15.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.76%	18.63%	+29.13%

Dividends

SPXU.TO vs. HEQL.TO - Dividend Comparison

SPXU.TO has not paid dividends to shareholders, while HEQL.TO's dividend yield for the trailing twelve months is around 0.69%.

Position	TTM
HEQL.TO Global X Enhanced All-Equity Asset Allocation ETF CAD	0.69%
SPXU.TO BetaPro S&P 500 2x Daily Bull ETF	0.00%

Frequently Asked Questions

Can I hold both SPXU.TO and HEQL.TO in my portfolio?

SPXU.TO and HEQL.TO have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.