SPXU.TO vs. USCL.TO
SPXU.TO (BetaPro S&P 500 2x Daily Bull ETF) and USCL.TO (Global X Enhanced S&P 500 Covered Call ETF) are both exchange-traded funds - SPXU.TO is a Leveraged Equities fund actively managed by Global X, while USCL.TO is a Derivative Income fund actively managed by Global X. Both are actively managed. Over the past year, SPXU.TO returned 34.85% vs 29.45% for USCL.TO. A 0.78 correlation means they provide meaningful diversification when combined.
Performance
SPXU.TO vs. USCL.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 higher than USCL.TO's 14.39% 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%
USCL.TO
- 1D
- 0.75%
- 1M
- 3.16%
- YTD
- 14.39%
- 6M
- 13.87%
- 1Y
- 29.45%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPXU.TO vs. USCL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SPXU.TO BetaPro S&P 500 2x Daily Bull ETF | 15.21% | 22.49% | 40.87% | 10.99% |
USCL.TO Global X Enhanced S&P 500 Covered Call ETF | 14.39% | 10.03% | 38.54% | 8.88% |
Correlation
The correlation between SPXU.TO and USCL.TO is 0.82, 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 | 0.82 |
Correlation (All Time) Calculated using the full available price history since Jul 6, 2023 | 0.78 |
The correlation between SPXU.TO and USCL.TO has been stable across timeframes, ranging from 0.78 to 0.82 - a consistent structural relationship.
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Return for Risk
SPXU.TO vs. USCL.TO — Risk / Return Rank
SPXU.TO
USCL.TO
SPXU.TO vs. USCL.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 S&P 500 Covered Call ETF (USCL.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 | USCL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.00 | ||
| Sortino ratioReturn per unit of downside risk | -1.29 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.46 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.87 | 3.45 | -1.59 |
| Martin ratioReturn relative to average drawdown | 7.68 | 13.86 | -6.19 |
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Drawdowns
SPXU.TO vs. USCL.TO - Drawdown Comparison
The maximum SPXU.TO drawdown since its inception was -59.70%, which is greater than USCL.TO's maximum drawdown of -21.85%. Use the drawdown chart below to compare losses from any high point for SPXU.TO and USCL.TO.
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Drawdown Indicators
| SPXU.TO | USCL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.70% | -21.85% | -37.85% |
Max Drawdown (1Y)Largest decline over 1 year | -18.73% | -8.56% | -10.17% |
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% | 0.00% | -3.68% |
Average DrawdownAverage peak-to-trough decline | -9.73% | -2.51% | -7.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.55% | 2.13% | +2.42% |
Volatility
SPXU.TO vs. USCL.TO - Volatility Comparison
BetaPro S&P 500 2x Daily Bull ETF (SPXU.TO) has a higher volatility of 10.15% compared to Global X Enhanced S&P 500 Covered Call ETF (USCL.TO) at 4.57%. This indicates that SPXU.TO's price experiences larger fluctuations and is considered to be riskier than USCL.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 | USCL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.15% | 4.57% | +5.58% |
Volatility (6M)Calculated over the trailing 6-month period | 19.93% | 10.09% | +9.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.95% | 12.32% | +12.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.77% | 15.64% | +18.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.76% | 15.64% | +32.12% |
Dividends
SPXU.TO vs. USCL.TO - Dividend Comparison
SPXU.TO has not paid dividends to shareholders, while USCL.TO's dividend yield for the trailing twelve months is around 11.69%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
SPXU.TO BetaPro S&P 500 2x Daily Bull ETF | 0.00% | 0.00% | 0.00% | 0.00% |
USCL.TO Global X Enhanced S&P 500 Covered Call ETF | 11.69% | 12.94% | 11.57% | 7.08% |
Frequently Asked Questions
SPXU.TO and USCL.TO have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPXU.TO is categorized as Leveraged Equities, while USCL.TO is Derivative Income.
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