VOLX.TO vs. HXS.TO
VOLX.TO (BetaPro S&P 500 VIX Short-Term Futures ETF) and HXS.TO (Global X S&P 500 Index Corporate Class ETF) are both exchange-traded funds - VOLX.TO is a Volatility fund tracking the S&P 500 VIX Short-Term Futures Index, while HXS.TO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, VOLX.TO returned -45.79%/yr vs 15.31%/yr for HXS.TO. At a correlation of -0.67, they often move in opposite directions.
Performance
VOLX.TO vs. HXS.TO - Performance Comparison
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Returns By Period
In the year-to-date period, VOLX.TO achieves a -18.74% return, which is significantly lower than HXS.TO's 13.52% 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%
HXS.TO
- 1D
- -0.77%
- 1M
- 2.49%
- 6M
- 10.10%
- YTD
- 13.52%
- 1Y
- 24.91%
- 3Y*
- 22.33%
- 5Y*
- 15.31%
- 10Y*
- —
VOLX.TO vs. HXS.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VOLX.TO BetaPro S&P 500 VIX Short-Term Futures ETF | -18.74% | -43.52% | -26.70% | -72.47% | -22.03% | -71.71% | 14.02% | -52.07% |
HXS.TO Global X S&P 500 Index Corporate Class ETF | 13.52% | 11.93% | 34.98% | 23.22% | -12.72% | 27.30% | 15.78% | 15.85% |
Correlation
The correlation between VOLX.TO and HXS.TO is -0.69, 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 | -0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.67 |
Correlation (All Time) Calculated using the full available price history since Feb 21, 2019 | -0.67 |
The correlation between VOLX.TO and HXS.TO has been stable across timeframes, ranging from -0.70 to -0.67 - a consistent structural relationship.
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Return for Risk
VOLX.TO vs. HXS.TO — Risk / Return Rank
VOLX.TO
HXS.TO
VOLX.TO vs. HXS.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 S&P 500 Index Corporate Class ETF (HXS.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 | HXS.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.97 | ||
| Sortino ratioReturn per unit of downside risk | -4.33 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.36 | -0.54 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | 2.86 | -3.83 |
| Martin ratioReturn relative to average drawdown | -1.54 | 10.64 | -12.17 |
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Drawdowns
VOLX.TO vs. HXS.TO - Drawdown Comparison
The maximum VOLX.TO drawdown since its inception was -100.00%, which is greater than HXS.TO's maximum drawdown of -27.41%. Use the drawdown chart below to compare losses from any high point for VOLX.TO and HXS.TO.
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Drawdown Indicators
| VOLX.TO | HXS.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -27.41% | -72.59% |
Max Drawdown (1Y)Largest decline over 1 year | -54.90% | -8.74% | -46.16% |
Max Drawdown (3Y)Largest decline over 3 years | -81.25% | -18.98% | -62.27% |
Max Drawdown (5Y)Largest decline over 5 years | -96.21% | -22.63% | -73.58% |
Max Drawdown (10Y)Largest decline over 10 years | -99.91% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -0.77% | -99.23% |
Average DrawdownAverage peak-to-trough decline | -91.94% | -4.24% | -87.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.37% | 2.35% | +32.02% |
Volatility
VOLX.TO vs. HXS.TO - Volatility Comparison
BetaPro S&P 500 VIX Short-Term Futures ETF (VOLX.TO) has a higher volatility of 12.66% compared to Global X S&P 500 Index Corporate Class ETF (HXS.TO) at 3.77%. This indicates that VOLX.TO's price experiences larger fluctuations and is considered to be riskier than HXS.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VOLX.TO | HXS.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.66% | 3.77% | +8.89% |
Volatility (6M)Calculated over the trailing 6-month period | 43.18% | 9.76% | +33.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.80% | 12.49% | +42.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 66.58% | 15.27% | +51.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.22% | 17.70% | +53.52% |
Dividends
VOLX.TO vs. HXS.TO - Dividend Comparison
Neither VOLX.TO nor HXS.TO has paid dividends to shareholders.
Frequently Asked Questions
VOLX.TO and HXS.TO have a correlation of -0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VOLX.TO is categorized as Volatility, while HXS.TO is S&P 500. VOLX.TO tracks S&P 500 VIX Short-Term Futures Index, while HXS.TO tracks S&P 500 Index.
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