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TCND.TO vs. USCL.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TCND.TO vs. USCL.TO

Last updated Apr 5, 2026

Compare and contrast key facts about BetaPro 3x S&P/TSX 60 Daily Leveraged Bull Alternative ETF (TCND.TO) and Global X Enhanced S&P 500 Covered Call ETF (USCL.TO).

TCND.TO and USCL.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TCND.TO is a passively managed fund by Global X that tracks the performance of the S&P/TSX 60 Index. It was launched on Aug 11, 2025. USCL.TO is an actively managed fund by Global X. It was launched on Jul 5, 2023.

Performance

TCND.TO vs. USCL.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BetaPro 3x S&P/TSX 60 Daily Leveraged Bull Alternative ETF (TCND.TO) and Global X Enhanced S&P 500 Covered Call ETF (USCL.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, TCND.TO achieves a 6.11% return, which is significantly higher than USCL.TO's -1.17% return.

TCND.TO

1D
1.21%
1M
-3.57%
YTD
6.11%
6M
17.00%
1Y
—
3Y*
—
5Y*
—
10Y*
—

USCL.TO

1D
0.59%
1M
-1.63%
YTD
-1.17%
6M
0.04%
1Y
29.31%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)2025
TCND.TO
BetaPro 3x S&P/TSX 60 Daily Leveraged Bull Alternative ETF		6.11%41.62%
USCL.TO
Global X Enhanced S&P 500 Covered Call ETF		-1.17%7.29%

Correlation

The correlation between TCND.TO and USCL.TO is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined. Holding both can reduce overall portfolio volatility compared to holding either one alone.

TCND.TO vs. USCL.TO - Expense Ratio Comparison

USCL.TO
Global X Enhanced S&P 500 Covered Call ETF

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BetaPro 3x S&P/TSX 60 Daily Leveraged Bull Alternative ETF

Global X Enhanced S&P 500 Covered Call ETF

Often compared with TCND.TO:
TCND.TO vs. AMHE.TOTCND.TO vs. CASH.TOTCND.TO vs. CBIL.TOTCND.TO vs. CHPS.TOTCND.TO vs. CNDU.TOTCND.TO vs. HBNK.TOTCND.TO vs. HCAL.TO
Often compared with USCL.TO:
USCL.TO vs. HYLD.TOUSCL.TO vs. MSTE.TOUSCL.TO vs. SDAY.NEOUSCL.TO vs. QQQYUSCL.TO vs. VFV.TOUSCL.TO vs. TSLA.TOUSCL.TO vs. QQCL.TO

Return for Risk

TCND.TO vs. USCL.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TCND.TO
USCL.TO
USCL.TO Risk / Return Rank: 3333
Overall Rank
USCL.TO Sharpe Ratio Rank: 3232
Sharpe Ratio Rank
USCL.TO Sortino Ratio Rank: 3232
Sortino Ratio Rank
USCL.TO Omega Ratio Rank: 3939
Omega Ratio Rank
USCL.TO Calmar Ratio Rank: 2828
Calmar Ratio Rank
USCL.TO Martin Ratio Rank: 3333
Martin Ratio Rank
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.

TCND.TO vs. USCL.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BetaPro 3x S&P/TSX 60 Daily Leveraged Bull Alternative ETF (TCND.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.

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

TCND.TO vs. USCL.TO - Sharpe Ratio Comparison

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Sharpe Ratios by Period

TCND.TOUSCL.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

—

0.66

—

Sharpe Ratio (All Time)

Calculated using the full available price history

2.41

1.15

+1.26

Drawdowns

TCND.TO vs. USCL.TO - Drawdown Comparison

The maximum TCND.TO drawdown since its inception was -22.06%, roughly equal to the maximum USCL.TO drawdown of -21.85%. Use the drawdown chart below to compare losses from any high point for TCND.TO and USCL.TO.

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Drawdown Indicators

TCND.TOUSCL.TODifference

Max Drawdown

Largest peak-to-trough decline

-22.06%

-21.85%

-0.21%

Max Drawdown (1Y)

Largest decline over 1 year

—

-8.56%

—

Current Drawdown

Current decline from peak

-10.17%

-4.44%

-5.73%

Average Drawdown

Average peak-to-trough decline

-3.59%

-2.67%

-0.92%

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

3.63%

—

Volatility

TCND.TO vs. USCL.TO - Volatility Comparison

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Volatility by Period

TCND.TOUSCL.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

—

6.19%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

10.05%

—

Volatility (1Y)

Calculated over the trailing 1-year period

37.11%

20.30%

+16.81%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

37.11%

15.73%

+21.38%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

37.11%

15.73%

+21.38%

Dividends

TCND.TO vs. USCL.TO - Dividend Comparison

TCND.TO has not paid dividends to shareholders, while USCL.TO's dividend yield for the trailing twelve months is around 13.32%.

TTM202520242023
TCND.TO
BetaPro 3x S&P/TSX 60 Daily Leveraged Bull Alternative ETF		0.00%0.00%0.00%0.00%
USCL.TO
Global X Enhanced S&P 500 Covered Call ETF		13.32%12.94%11.57%7.08%