SPXU.TO vs. TCND.TO

Last updated Jul 18, 2026

SPXU.TO (BetaPro S&P 500 2x Daily Bull ETF) and TCND.TO (BetaPro 3x S&P/TSX 60 Daily Leveraged Bull Alternative ETF) are both Leveraged Equities funds from Global X. SPXU.TO is actively managed, while TCND.TO is passively managed. A 0.62 correlation means they provide meaningful diversification when combined.

Performance

SPXU.TO vs. TCND.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 BetaPro 3x S&P/TSX 60 Daily Leveraged Bull Alternative ETF (TCND.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPXU.TO achieves a 13.58% return, which is significantly lower than TCND.TO's 32.34% return.

SPXU.TO

• 1D: -2.09%
• 1M: 0.28%
• 6M: 10.86%
• YTD: 13.58%
• 1Y: 29.42%
• 3Y*: 27.58%
• 5Y*: 14.90%
• 10Y*: 28.89%

TCND.TO

• 1D: -1.36%
• 1M: 1.10%
• 6M: 21.54%
• YTD: 32.34%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

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

	2026 (YTD)	2025
SPXU.TO BetaPro S&P 500 2x Daily Bull ETF	13.58%	11.84%
TCND.TO BetaPro 3x S&P/TSX 60 Daily Leveraged Bull Alternative ETF	32.34%	41.09%

Correlation

The correlation between SPXU.TO and TCND.TO is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 12, 2025	0.62

Return for Risk

SPXU.TO vs. TCND.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: 43
SPXU.TO Sharpe Ratio Rank: 43
SPXU.TO Sortino Ratio Rank: 41
SPXU.TO Omega Ratio Rank: 41
SPXU.TO Calmar Ratio Rank: 40
SPXU.TO Martin Ratio Rank: 50

TCND.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. TCND.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 3x S&P/TSX 60 Daily Leveraged Bull Alternative ETF (TCND.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	TCND.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.18	—	—
Sortino ratio: Return per unit of downside risk	1.68	—	—
Omega ratio: Gain probability vs. loss probability	1.21	—	—
Calmar ratio: Return relative to maximum drawdown	1.58	—	—
Martin ratio: Return relative to average drawdown	6.41	—	—

Drawdowns

SPXU.TO vs. TCND.TO - Drawdown Comparison

The maximum SPXU.TO drawdown since its inception was -59.70%, which is greater than TCND.TO's maximum drawdown of -22.06%. Use the drawdown chart below to compare losses from any high point for SPXU.TO and TCND.TO.

Drawdown Indicators

	SPXU.TO	TCND.TO	Difference
Max Drawdown Largest peak-to-trough decline	-59.70%	-22.06%	-37.64%
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	-5.04%	-2.08%	-2.96%
Average Drawdown Average peak-to-trough decline	-9.71%	-3.36%	-6.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.60%	—	—

Volatility

Volatility by Period

	SPXU.TO	TCND.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.39%	—	—
Volatility (6M) Calculated over the trailing 6-month period	20.08%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	25.10%	35.24%	-10.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.74%	35.24%	-1.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.75%	35.24%	+12.51%

Dividends

SPXU.TO vs. TCND.TO - Dividend Comparison

Neither SPXU.TO nor TCND.TO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

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

SPXU.TO and TCND.TO have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.