SPXU.TO vs. TQQQ.TO
SPXU.TO (BetaPro S&P 500 2x Daily Bull ETF) and TQQQ.TO (BetaPro 3x Nasdaq-100 Daily Leveraged Bull Alternative ETF) are both exchange-traded funds - SPXU.TO is a Leveraged Equities fund actively managed by Global X, while TQQQ.TO is a Nasdaq-100 fund tracking the Nasdaq-100 Index. SPXU.TO is actively managed, while TQQQ.TO is passively managed. Over the past year, SPXU.TO returned 34.85% vs 88.41% for TQQQ.TO. Their correlation of 0.93 suggests significant overlap in exposure.
Performance
SPXU.TO vs. TQQQ.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 TQQQ.TO's 50.84% 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%
TQQQ.TO
- 1D
- 4.66%
- 1M
- -4.35%
- YTD
- 50.84%
- 6M
- 46.98%
- 1Y
- 88.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPXU.TO vs. TQQQ.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SPXU.TO BetaPro S&P 500 2x Daily Bull ETF | 15.21% | 23.60% |
TQQQ.TO BetaPro 3x Nasdaq-100 Daily Leveraged Bull Alternative ETF | 50.84% | 38.56% |
Correlation
The correlation between SPXU.TO and TQQQ.TO is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2025 | 0.93 |
The correlation between SPXU.TO and TQQQ.TO has been stable across timeframes, ranging from 0.93 to 0.93 - a consistent structural relationship.
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Return for Risk
SPXU.TO vs. TQQQ.TO — Risk / Return Rank
SPXU.TO
TQQQ.TO
SPXU.TO vs. TQQQ.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 Nasdaq-100 Daily Leveraged Bull Alternative ETF (TQQQ.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 | TQQQ.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.25 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.28 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.87 | 2.33 | -0.46 |
| Martin ratioReturn relative to average drawdown | 7.68 | 7.18 | +0.50 |
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Drawdowns
SPXU.TO vs. TQQQ.TO - Drawdown Comparison
The maximum SPXU.TO drawdown since its inception was -59.70%, which is greater than TQQQ.TO's maximum drawdown of -38.15%. Use the drawdown chart below to compare losses from any high point for SPXU.TO and TQQQ.TO.
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Drawdown Indicators
| SPXU.TO | TQQQ.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.70% | -38.15% | -21.55% |
Max Drawdown (1Y)Largest decline over 1 year | -18.73% | -38.15% | +19.42% |
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 DrawdownCurrent decline from peak | -3.68% | -7.30% | +3.62% |
Average DrawdownAverage peak-to-trough decline | -9.73% | -8.65% | -1.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.55% | 12.35% | -7.80% |
Volatility
SPXU.TO vs. TQQQ.TO - Volatility Comparison
The current volatility for BetaPro S&P 500 2x Daily Bull ETF (SPXU.TO) is 10.15%, while BetaPro 3x Nasdaq-100 Daily Leveraged Bull Alternative ETF (TQQQ.TO) has a volatility of 28.79%. This indicates that SPXU.TO experiences smaller price fluctuations and is considered to be less risky than TQQQ.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 | TQQQ.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.15% | 28.79% | -18.64% |
Volatility (6M)Calculated over the trailing 6-month period | 19.93% | 44.37% | -24.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.95% | 53.79% | -28.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.77% | 53.41% | -19.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.76% | 53.41% | -5.65% |
Dividends
SPXU.TO vs. TQQQ.TO - Dividend Comparison
Neither SPXU.TO nor TQQQ.TO has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.93, SPXU.TO and TQQQ.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
SPXU.TO is categorized as Leveraged Equities, while TQQQ.TO is Nasdaq-100.
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