USSL.TO vs. SPXU.TO

Last updated Jul 17, 2026

USSL.TO (Global X Enhanced S&P 500 Index ETF) and SPXU.TO (BetaPro S&P 500 2x Daily Bull ETF) are both Leveraged Equities funds from Global X. USSL.TO is passively managed, while SPXU.TO is actively managed. Over the past year, USSL.TO returned 30.37% vs 33.69% for SPXU.TO. At a 0.49 correlation, their price movements are largely independent.

Performance

USSL.TO vs. SPXU.TO - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with USSL.TO having a 15.74% return and SPXU.TO slightly higher at 16.00%.

USSL.TO

• 1D: 0.09%
• 1M: 1.11%
• 6M: 12.09%
• YTD: 15.74%
• 1Y: 30.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPXU.TO

• 1D: -1.03%
• 1M: -0.14%
• 6M: 13.12%
• YTD: 16.00%
• 1Y: 33.69%
• 3Y*: 29.18%
• 5Y*: 15.39%
• 10Y*: 29.12%

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

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

	2026 (YTD)	2025	2024
USSL.TO Global X Enhanced S&P 500 Index ETF	15.74%	13.42%	21.92%
SPXU.TO BetaPro S&P 500 2x Daily Bull ETF	16.00%	22.49%	16.46%

Correlation

The correlation between USSL.TO and SPXU.TO is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.52
Correlation (All Time) Calculated using the full available price history since May 22, 2024	0.49

The correlation between USSL.TO and SPXU.TO has been stable across timeframes, ranging from 0.49 to 0.52 - a consistent structural relationship.

USSL.TO vs. SPXU.TO - Sectors Allocation Comparison

Sectors	USSL.TO	SPXU.TO
Technology	35.6%	39.0%
Financial Services	11.8%	11.1%
Communication Services	11.2%	10.6%
Consumer Cyclical	10.1%	9.9%
Healthcare	8.5%	8.3%
Industrials	8.3%	7.8%
Consumer Defensive	4.9%	4.5%
Energy	3.5%	3.1%
Utilities	2.4%	2.1%
Real Estate	1.9%	1.8%
Basic Materials	1.8%	1.7%

Return for Risk

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

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

USSL.TO

USSL.TO Risk / Return Rank: 89
USSL.TO Sharpe Ratio Rank: 90
USSL.TO Sortino Ratio Rank: 89
USSL.TO Omega Ratio Rank: 88
USSL.TO Calmar Ratio Rank: 88
USSL.TO Martin Ratio Rank: 88

SPXU.TO

SPXU.TO Risk / Return Rank: 47
SPXU.TO Sharpe Ratio Rank: 47
SPXU.TO Sortino Ratio Rank: 45
SPXU.TO Omega Ratio Rank: 45
SPXU.TO Calmar Ratio Rank: 43
SPXU.TO Martin Ratio Rank: 54

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.

USSL.TO vs. SPXU.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Enhanced S&P 500 Index ETF (USSL.TO) and BetaPro S&P 500 2x Daily Bull ETF (SPXU.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.

	USSL.TO	SPXU.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.39	1.35	+1.04
Sortino ratio: Return per unit of downside risk	3.33	1.88	+1.45
Omega ratio: Gain probability vs. loss probability	1.44	1.24	+0.20
Calmar ratio: Return relative to maximum drawdown	3.98	1.81	+2.17
Martin ratio: Return relative to average drawdown	14.81	7.36	+7.45

USSL.TO vs. SPXU.TO - Sharpe Ratio Comparison

The current USSL.TO Sharpe Ratio is 2.39, which is higher than the SPXU.TO Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of USSL.TO and SPXU.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

USSL.TO vs. SPXU.TO - Drawdown Comparison

The maximum USSL.TO drawdown since its inception was -23.90%, smaller than the maximum SPXU.TO drawdown of -59.70%. Use the drawdown chart below to compare losses from any high point for USSL.TO and SPXU.TO.

Drawdown Indicators

	USSL.TO	SPXU.TO	Difference
Max Drawdown Largest peak-to-trough decline	-23.90%	-59.70%	+35.80%
Max Drawdown (1Y) Largest decline over 1 year	-10.79%	-18.73%	+7.94%
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	-1.11%	-3.01%	+1.90%
Average Drawdown Average peak-to-trough decline	-3.32%	-9.71%	+6.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.60%	4.59%	+1.01%

Volatility

USSL.TO vs. SPXU.TO - Volatility Comparison

The current volatility for Global X Enhanced S&P 500 Index ETF (USSL.TO) is 4.02%, while BetaPro S&P 500 2x Daily Bull ETF (SPXU.TO) has a volatility of 6.54%. This indicates that USSL.TO experiences smaller price fluctuations and is considered to be less risky than SPXU.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USSL.TO	SPXU.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.02%	6.54%	-2.52%
Volatility (6M) Calculated over the trailing 6-month period	12.83%	19.95%	-7.12%
Volatility (1Y) Calculated over the trailing 1-year period	18.01%	25.01%	-7.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.15%	33.74%	-10.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.15%	47.74%	-24.59%

Dividends

USSL.TO vs. SPXU.TO - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

USSL.TO and SPXU.TO have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.