VOLX.TO vs. CHPS.TO

Last updated Jul 14, 2026

VOLX.TO (BetaPro S&P 500 VIX Short-Term Futures ETF) and CHPS.TO (Global X Artificial Intelligence Semiconductor Index ETF) are both exchange-traded funds - VOLX.TO is a Volatility fund tracking the S&P 500 VIX Short-Term Futures Index, while CHPS.TO is a Semiconductors fund tracking the PHLX US AI Semiconductor Index. Both are passively managed. Over the past 5 years, VOLX.TO returned -45.79%/yr vs 27.75%/yr for CHPS.TO. At a correlation of -0.57, they often move in opposite directions.

Performance

VOLX.TO vs. CHPS.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BetaPro S&P 500 VIX Short-Term Futures ETF (VOLX.TO) and Global X Artificial Intelligence Semiconductor Index ETF (CHPS.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VOLX.TO achieves a -18.74% return, which is significantly lower than CHPS.TO's 56.31% return.

VOLX.TO

• 1D: 2.91%
• 1M: -10.26%
• 6M: -16.74%
• YTD: -18.74%
• 1Y: -52.76%
• 3Y*: -39.82%
• 5Y*: -45.79%
• 10Y*: -50.16%

CHPS.TO

• 1D: -4.09%
• 1M: -2.72%
• 6M: 44.12%
• YTD: 56.31%
• 1Y: 94.18%
• 3Y*: 45.21%
• 5Y*: 27.75%
• 10Y*: —

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

VOLX.TO vs. CHPS.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
VOLX.TO BetaPro S&P 500 VIX Short-Term Futures ETF	-18.74%	-43.52%	-26.70%	-72.47%	-22.03%	-42.18%
CHPS.TO Global X Artificial Intelligence Semiconductor Index ETF	56.31%	45.93%	20.38%	68.20%	-37.86%	23.13%

Correlation

The correlation between VOLX.TO and CHPS.TO is -0.51, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.51
Correlation (3Y) Calculated over the trailing 3-year period	-0.56
Correlation (5Y) Calculated over the trailing 5-year period	-0.57
Correlation (All Time) Calculated using the full available price history since Jun 22, 2021	-0.57

The correlation between VOLX.TO and CHPS.TO has been stable across timeframes, ranging from -0.57 to -0.51 - a consistent structural relationship.

Return for Risk

VOLX.TO vs. CHPS.TO — Risk / Return Rank

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

VOLX.TO

VOLX.TO Risk / Return Rank: 1
VOLX.TO Sharpe Ratio Rank: 2
VOLX.TO Sortino Ratio Rank: 2
VOLX.TO Omega Ratio Rank: 2
VOLX.TO Calmar Ratio Rank: 0
VOLX.TO Martin Ratio Rank: 1

CHPS.TO

CHPS.TO Risk / Return Rank: 89
CHPS.TO Sharpe Ratio Rank: 92
CHPS.TO Sortino Ratio Rank: 81
CHPS.TO Omega Ratio Rank: 84
CHPS.TO Calmar Ratio Rank: 96
CHPS.TO Martin Ratio Rank: 93

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.

VOLX.TO vs. CHPS.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BetaPro S&P 500 VIX Short-Term Futures ETF (VOLX.TO) and Global X Artificial Intelligence Semiconductor Index ETF (CHPS.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.

	VOLX.TO	CHPS.TO	Difference
Sharpe ratio: Return per unit of total volatility	-0.97	2.53	-3.50
Sortino ratio: Return per unit of downside risk	-1.56	2.84	-4.40
Omega ratio: Gain probability vs. loss probability	0.83	1.40	-0.57
Calmar ratio: Return relative to maximum drawdown	-0.96	7.17	-8.14
Martin ratio: Return relative to average drawdown	-1.54	19.49	-21.02

VOLX.TO vs. CHPS.TO - Sharpe Ratio Comparison

The current VOLX.TO Sharpe Ratio is -0.97, which is lower than the CHPS.TO Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of VOLX.TO and CHPS.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

VOLX.TO vs. CHPS.TO - Drawdown Comparison

The maximum VOLX.TO drawdown since its inception was -100.00%, which is greater than CHPS.TO's maximum drawdown of -48.16%. Use the drawdown chart below to compare losses from any high point for VOLX.TO and CHPS.TO.

Drawdown Indicators

	VOLX.TO	CHPS.TO	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-48.16%	-51.84%
Max Drawdown (1Y) Largest decline over 1 year	-54.90%	-13.35%	-41.55%
Max Drawdown (3Y) Largest decline over 3 years	-81.25%	-37.49%	-43.76%
Max Drawdown (5Y) Largest decline over 5 years	-96.21%	-48.16%	-48.05%
Max Drawdown (10Y) Largest decline over 10 years	-99.91%	—	—
Current Drawdown Current decline from peak	-100.00%	-10.17%	-89.83%
Average Drawdown Average peak-to-trough decline	-91.94%	-13.74%	-78.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.37%	4.88%	+29.49%

Volatility

VOLX.TO vs. CHPS.TO - Volatility Comparison

The current volatility for BetaPro S&P 500 VIX Short-Term Futures ETF (VOLX.TO) is 12.66%, while Global X Artificial Intelligence Semiconductor Index ETF (CHPS.TO) has a volatility of 18.13%. This indicates that VOLX.TO experiences smaller price fluctuations and is considered to be less risky than CHPS.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VOLX.TO	CHPS.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.66%	18.13%	-5.47%
Volatility (6M) Calculated over the trailing 6-month period	43.18%	31.65%	+11.53%
Volatility (1Y) Calculated over the trailing 1-year period	54.80%	37.94%	+16.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.58%	35.23%	+31.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.22%	35.10%	+36.12%

Dividends

VOLX.TO vs. CHPS.TO - Dividend Comparison

VOLX.TO has not paid dividends to shareholders, while CHPS.TO's dividend yield for the trailing twelve months is around 0.01%.

Position	TTM	2025	2024	2023	2022	2021
CHPS.TO Global X Artificial Intelligence Semiconductor Index ETF	0.01%	0.01%	0.20%	0.53%	0.97%	0.01%
VOLX.TO BetaPro S&P 500 VIX Short-Term Futures ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VOLX.TO and CHPS.TO in my portfolio?

VOLX.TO and CHPS.TO have a correlation of -0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between VOLX.TO and CHPS.TO?

VOLX.TO is categorized as Volatility, while CHPS.TO is Semiconductors. VOLX.TO tracks S&P 500 VIX Short-Term Futures Index, while CHPS.TO tracks PHLX US AI Semiconductor Index.