- CUSIP
- 063679526
- Issuer
- BMO
- Inception Date
- Feb 24, 2023
- Category
- Leveraged Commodities
- Leveraged
- 3x
- Distribution Policy
- Accumulating
- Asset Class
- Commodity
- Assets Under Management
- $115M
Share Price Chart
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Performance
SHNY Performance Chart
MicroSectors Gold 3X Leveraged ETN (SHNY) is down 30.2% since the beginning of the year. SHNY is currently trading at $9 per share.
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Returns By Period
MicroSectors Gold 3X Leveraged ETN (SHNY) has returned -30.22% so far this year and 22.25% over the past 12 months.
MicroSectors Gold 3X Leveraged ETN
- 1D
- -1.94%
- 1M
- -22.65%
- YTD
- -30.22%
- 6M
- -36.97%
- 1Y
- 22.25%
- 3Y*
- 52.28%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
SHNY Monthly Returns History
Based on dividend-adjusted daily data since Feb 22, 2023, SHNY's average daily return is +0.23%, while the average monthly return is +4.23%. At this rate, an investment would double in approximately 1.4 years.
Historically, 59% of months were positive and 41% were negative. The best month was Sep 2025 with a return of +36.5%, while the worst month was Mar 2026 at -33.5%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 4 months.
On a daily basis, SHNY closed higher 54% of trading days. The best single day was Feb 3, 2026 with a return of +18.2%, while the worst single day was Jan 30, 2026 at -30.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 31.74% | 21.22% | -33.49% | -7.13% | -6.98% | -23.94% | -30.22% | ||||||
| 2025 | 19.30% | 3.19% | 28.41% | 12.70% | -3.65% | -1.30% | -3.99% | 13.10% | 36.53% | 5.75% | 14.17% | 3.73% | 214.54% |
| 2024 | -6.38% | -0.79% | 25.42% | 6.33% | 1.92% | -2.91% | 13.75% | 3.74% | 13.49% | 11.04% | -11.91% | -6.38% | 50.30% |
| 2023 | -1.42% | 21.74% | 0.58% | -6.36% | -8.56% | 4.67% | -5.81% | -15.40% | 20.52% | 5.30% | 1.46% | 10.98% |
Benchmark Metrics
MicroSectors Gold 3X Leveraged ETN has an annualized alpha of 58.70%, beta of 0.55, and R2 of 0.02 versus S&P 500 Index. Calculated based on daily prices since February 22, 2023.
- This ETF captured 148.06% of S&P 500 Index gains but only 2.11% of its losses - a favorable profile for investors.
- Beta of 0.55 may look defensive, but with R2 of 0.02 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.02 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 58.70%
- Beta
- 0.55
- R²
- 0.02
- Upside Capture
- 148.06%
- Downside Capture
- 2.11%
Expense Ratio
SHNY has a high expense ratio of 0.95%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
SHNY ranks 14 for risk / return — in the bottom 14% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for MicroSectors Gold 3X Leveraged ETN (SHNY) and compare them to S&P 500 Index.
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.
| SHNY | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.76 | ||
| Sortino ratioReturn per unit of downside risk | -1.86 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.37 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 0.34 | 2.78 | -2.44 |
| Martin ratioReturn relative to average drawdown | 0.78 | 12.44 | -11.66 |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the MicroSectors Gold 3X Leveraged ETN. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the MicroSectors Gold 3X Leveraged ETN was 65.54%, occurring on Jun 10, 2026. The portfolio has not yet recovered.
The current MicroSectors Gold 3X Leveraged ETN drawdown is 63.29%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 bear market2026 | -65.54%Jun 2026 | 4mo 11d | — | 4mo 24dJan 2026 - now |
2023 bear market2023 | -37.84%Oct 2023 | 5mo 24d | 5mo 29d | 11mo 23dApr 2023 - Apr 2024 |
2025 bear market2025 | -29.40%Nov 2025 | 14d | 1mo 19d | 2mo 3dOct 2025 - Dec 2025 |
2024 bear market2024 | -23.68%Nov 2024 | 15d | 2mo 27d | 3mo 12dOct 2024 - Feb 2025 |
2025 selloff2025 | -22.33%May 2025 | 22d | 3mo 24d | 4mo 16dApr 2025 - Sep 2025 |
Drawdown Indicators
| SHNY | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.54% | -56.78% | -8.76% |
Max Drawdown (1Y)Largest decline over 1 year | -65.54% | -9.10% | -56.44% |
Max Drawdown (3Y)Largest decline over 3 years | -65.54% | -18.90% | -46.64% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -63.29% | -1.80% | -61.49% |
Average DrawdownAverage peak-to-trough decline | -15.59% | -10.71% | -4.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.69% | 2.03% | +26.66% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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