VOLX.TO vs. HXQ.TO

Last updated Apr 1, 2026

Compare and contrast key facts about BetaPro S&P 500 VIX Short-Term Futures ETF (VOLX.TO) and Horizons NASDAQ-100 Index ETF (HXQ.TO).

VOLX.TO and HXQ.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VOLX.TO is a passively managed fund by Horizons that tracks the performance of the S&P 500 VIX Short-Term Futures Index. It was launched on Dec 15, 2010. HXQ.TO is a passively managed fund by Horizons that tracks the performance of the NASDAQ-100 Index. It was launched on Apr 19, 2016. Both VOLX.TO and HXQ.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

VOLX.TO vs. HXQ.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 Horizons NASDAQ-100 Index ETF (HXQ.TO). The values are adjusted to include any dividend payments, if applicable.

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VOLX.TO BetaPro S&P 500 VIX Short-Term Futures ETF	34.15%	-43.52%	-26.70%	-72.47%	-22.03%	-71.71%	14.02%	-67.84%	68.78%	-72.78%
HXQ.TO Horizons NASDAQ-100 Index ETF	-4.70%	15.05%	35.98%	51.16%	-27.84%	26.20%	45.58%	32.26%	6.71%	23.12%

Returns By Period

In the year-to-date period, VOLX.TO achieves a 34.15% return, which is significantly higher than HXQ.TO's -4.70% return.

VOLX.TO

• 1D: -8.87%
• 1M: 23.74%
• YTD: 34.15%
• 6M: 6.74%
• 1Y: -32.33%
• 3Y*: -42.29%
• 5Y*: -44.89%
• 10Y*: -45.93%

HXQ.TO

• 1D: 3.40%
• 1M: -3.01%
• YTD: -4.70%
• 6M: -3.76%
• 1Y: 19.15%
• 3Y*: 23.30%
• 5Y*: 15.03%
• 10Y*: —

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

VOLX.TO vs. HXQ.TO - Expense Ratio Comparison

VOLX.TO has a 1.18% expense ratio, which is higher than HXQ.TO's 0.25% expense ratio.

VOLX.TO

BetaPro S&P 500 VIX Short-Term Futures ETF

HXQ.TO

Horizons NASDAQ-100 Index ETF

Return for Risk

VOLX.TO vs. HXQ.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: 40
VOLX.TO Sharpe Ratio Rank: 9
VOLX.TO Sortino Ratio Rank: 85
VOLX.TO Omega Ratio Rank: 94
VOLX.TO Calmar Ratio Rank: 6
VOLX.TO Martin Ratio Rank: 8

HXQ.TO

HXQ.TO Risk / Return Rank: 55
HXQ.TO Sharpe Ratio Rank: 51
HXQ.TO Sortino Ratio Rank: 54
HXQ.TO Omega Ratio Rank: 55
HXQ.TO Calmar Ratio Rank: 65
HXQ.TO Martin Ratio Rank: 52

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. HXQ.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 Horizons NASDAQ-100 Index ETF (HXQ.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.

	VOLX.TO	HXQ.TO	Difference
Sharpe ratio Return per unit of total volatility	-0.11	0.86	-0.96
Sortino ratio Return per unit of downside risk	2.31	1.32	+0.99
Omega ratio Gain probability vs. loss probability	1.44	1.19	+0.25
Calmar ratio Return relative to maximum drawdown	-0.40	1.53	-1.93
Martin ratio Return relative to average drawdown	-0.54	4.58	-5.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current VOLX.TO Sharpe Ratio is -0.11, which is lower than the HXQ.TO Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of VOLX.TO and HXQ.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VOLX.TO	HXQ.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.11	0.86	-0.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.30	0.73	-1.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.39	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.45	0.95	-1.40

Correlation

The correlation between VOLX.TO and HXQ.TO is -0.56. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

VOLX.TO vs. HXQ.TO - Dividend Comparison

Neither VOLX.TO nor HXQ.TO has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

VOLX.TO vs. HXQ.TO - Drawdown Comparison

The maximum VOLX.TO drawdown since its inception was -100.00%, which is greater than HXQ.TO's maximum drawdown of -31.60%. Use the drawdown chart below to compare losses from any high point for VOLX.TO and HXQ.TO.

Drawdown Indicators

	VOLX.TO	HXQ.TO	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-31.60%	-68.40%
Max Drawdown (1Y) Largest decline over 1 year	-80.42%	-12.97%	-67.45%
Max Drawdown (5Y) Largest decline over 5 years	-96.62%	-31.60%	-65.02%
Max Drawdown (10Y) Largest decline over 10 years	-99.86%	—	—
Current Drawdown Current decline from peak	-100.00%	-9.45%	-90.55%
Average Drawdown Average peak-to-trough decline	-91.78%	-5.82%	-85.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	59.53%	4.33%	+55.20%

Volatility

VOLX.TO vs. HXQ.TO - Volatility Comparison

BetaPro S&P 500 VIX Short-Term Futures ETF (VOLX.TO) has a higher volatility of 29.41% compared to Horizons NASDAQ-100 Index ETF (HXQ.TO) at 6.41%. This indicates that VOLX.TO's price experiences larger fluctuations and is considered to be riskier than HXQ.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VOLX.TO	HXQ.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.41%	6.41%	+23.00%
Volatility (6M) Calculated over the trailing 6-month period	199.77%	12.59%	+187.18%
Volatility (1Y) Calculated over the trailing 1-year period	307.92%	22.47%	+285.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	150.08%	20.78%	+129.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	117.97%	20.85%	+97.12%