BetaPro S&P/TSX 60 -2x Daily Bear ETF
CNDD.TO
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- BetaPro S&P/TSX 60 -2x Daily Bear ETF (CNDD.TO) is an exchange-traded fund that seeks daily investment results, before fees and expenses, corresponding to two times (200%) the inverse of the daily performance of the S&P/TSX 60 Index; it provides leveraged short exposure to large-cap Canadian equities, serving as a tactical tool for active traders to profit from market declines or hedge long positions in the index without requiring a margin account. The ETF invests primarily in derivatives such as forwards, futures contracts, swap agreements, and options on the index or its components to achieve its leveraged inverse objective, with exposure concentrated in key sectors including financials (37.27%), energy (15.92%), and materials (12.88%) as of October 31, 2025; it is listed on the Toronto Stock Exchange, eligible for registered and non-registered accounts, and targets sophisticated investors focused on daily performance rather than long-term holdings due to compounding effects and volatility decay. Launched on January 8, 2007, CNDD is managed by Global X Investments Canada Inc., headquartered in Toronto, Ontario, as part of the BetaPro suite of leveraged, inverse, and inverse-leveraged ETFs domiciled in Canada and backed by Mirae Asset Financial Group. In recent developments, Global X Investments Canada Inc. announced share consolidations for certain BetaPro ETFs, including CNDD, effective November 2025, to adjust share structure while maintaining net asset value proportionality for investors. The manager has expanded the BetaPro lineup aggressively in 2025, launching multiple new leveraged and inverse ETFs such as 3x and -3x products tracking the Nasdaq-100, S&P 500, and Russell 2000 indices in June, August, and September, along with Canada's first -1x Nasdaq-100 ETF and promotional management fee rebates to 0.65% on select 3x/-3x funds through year-end. Additionally, in June 2025, Global X terminated five underperforming ETFs to streamline its portfolio, reflecting ongoing strategic portfolio optimization amid a record year for Canadian ETF launches exceeding 300 new products. These changes underscore BetaPro's position as Canada's leading provider of single-stock and index-based leveraged/inverse ETFs, now spanning over 38 funds with assets under management exceeding $39 billion as of December 31, 2024.