USSL.TO vs. VVL.TO

Last updated Jul 17, 2026

USSL.TO (Global X Enhanced S&P 500 Index ETF) and VVL.TO (Vanguard Global Value Factor ETF CAD) are both exchange-traded funds - USSL.TO is a Leveraged Equities fund tracking the S&P 500, while VVL.TO is a Global Equities fund actively managed by Vanguard. USSL.TO is passively managed, while VVL.TO is actively managed. Over the past year, USSL.TO returned 30.37% vs 32.90% for VVL.TO. At a 0.35 correlation, their price movements are largely independent. USSL.TO charges 1.34%/yr vs 0.38%/yr for VVL.TO.

Performance

USSL.TO vs. VVL.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 Vanguard Global Value Factor ETF CAD (VVL.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USSL.TO achieves a 15.74% return, which is significantly lower than VVL.TO's 18.25% return.

USSL.TO

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

VVL.TO

• 1D: 1.25%
• 1M: 4.04%
• 6M: 11.88%
• YTD: 18.25%
• 1Y: 32.90%
• 3Y*: 20.95%
• 5Y*: 15.29%
• 10Y*: 12.35%

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

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

	2026 (YTD)	2025	2024
USSL.TO Global X Enhanced S&P 500 Index ETF	15.74%	13.42%	21.92%
VVL.TO Vanguard Global Value Factor ETF CAD	18.25%	18.01%	3.82%

Correlation

The correlation between USSL.TO and VVL.TO is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (All Time) Calculated using the full available price history since May 22, 2024	0.35

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

Sectors	USSL.TO	VVL.TO
Technology	35.6%	10.5%
Financial Services	11.8%	25.3%
Communication Services	11.2%	6.1%
Consumer Cyclical	10.1%	14.8%
Healthcare	8.5%	10.8%
Industrials	8.3%	9.8%
Consumer Defensive	4.9%	6.5%
Energy	3.5%	9.4%
Utilities	2.4%	0.0%
Real Estate	1.9%	0.9%
Basic Materials	1.8%	6.0%

Return for Risk

USSL.TO vs. VVL.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

VVL.TO

VVL.TO Risk / Return Rank: 88
VVL.TO Sharpe Ratio Rank: 90
VVL.TO Sortino Ratio Rank: 91
VVL.TO Omega Ratio Rank: 87
VVL.TO Calmar Ratio Rank: 85
VVL.TO Martin Ratio Rank: 88

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. VVL.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 Vanguard Global Value Factor ETF CAD (VVL.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	VVL.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.39	2.39	0.00
Sortino ratio: Return per unit of downside risk	3.33	3.45	-0.12
Omega ratio: Gain probability vs. loss probability	1.44	1.43	+0.01
Calmar ratio: Return relative to maximum drawdown	3.98	3.74	+0.24
Martin ratio: Return relative to average drawdown	14.81	14.75	+0.06

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

The current USSL.TO Sharpe Ratio is 2.39, which is comparable to the VVL.TO Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of USSL.TO and VVL.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. VVL.TO - Drawdown Comparison

The maximum USSL.TO drawdown since its inception was -23.90%, smaller than the maximum VVL.TO drawdown of -43.88%. Use the drawdown chart below to compare losses from any high point for USSL.TO and VVL.TO.

Drawdown Indicators

	USSL.TO	VVL.TO	Difference
Max Drawdown Largest peak-to-trough decline	-23.90%	-43.88%	+19.98%
Max Drawdown (1Y) Largest decline over 1 year	-10.79%	-8.83%	-1.96%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.07%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.07%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-43.88%	—
Current Drawdown Current decline from peak	-1.11%	0.00%	-1.11%
Average Drawdown Average peak-to-trough decline	-3.32%	-5.73%	+2.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.60%	2.24%	+3.36%

Volatility

USSL.TO vs. VVL.TO - Volatility Comparison

Global X Enhanced S&P 500 Index ETF (USSL.TO) has a higher volatility of 4.02% compared to Vanguard Global Value Factor ETF CAD (VVL.TO) at 3.17%. This indicates that USSL.TO's price experiences larger fluctuations and is considered to be riskier than VVL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USSL.TO	VVL.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.02%	3.17%	+0.85%
Volatility (6M) Calculated over the trailing 6-month period	12.83%	9.54%	+3.29%
Volatility (1Y) Calculated over the trailing 1-year period	18.01%	13.81%	+4.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.15%	16.07%	+7.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.15%	18.77%	+4.38%

USSL.TO vs. VVL.TO - Expense Ratio Comparison

USSL.TO has a 1.34% expense ratio, which is higher than VVL.TO's 0.38% expense ratio.

Dividends

USSL.TO vs. VVL.TO - Dividend Comparison

USSL.TO has not paid dividends to shareholders, while VVL.TO's dividend yield for the trailing twelve months is around 1.60%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
USSL.TO Global X Enhanced S&P 500 Index ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VVL.TO Vanguard Global Value Factor ETF CAD	1.60%	1.89%	2.19%	2.69%	2.57%	1.50%	1.70%	2.65%	2.15%	1.35%	0.60%

Frequently Asked Questions

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

USSL.TO and VVL.TO have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, USSL.TO or VVL.TO?

On fees, VVL.TO is cheaper at 0.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, USSL.TO or VVL.TO?

VVL.TO is cheaper with a 0.38% expense ratio, compared with 1.34% for USSL.TO.

What is the main difference between USSL.TO and VVL.TO?

USSL.TO is categorized as Leveraged Equities, while VVL.TO is Global Equities. They also come from different issuers: Global X and Vanguard. Their fees differ too: 1.34% for USSL.TO and 0.38% for VVL.TO.