AVGX vs. GDXU

Last updated Jun 4, 2026

AVGX (Defiance Daily Target 2X Long AVGO ETF) and GDXU (MicroSectors Gold Miners 3X Leveraged ETN) are both Leveraged Equities funds. AVGX is actively managed, while GDXU is passively managed. Over the past year, AVGX returned 156.34% vs 72.31% for GDXU. At a 0.23 correlation, their price movements are largely independent. AVGX charges 1.29%/yr vs 0.95%/yr for GDXU.

Performance

AVGX vs. GDXU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long AVGO ETF (AVGX) and MicroSectors Gold Miners 3X Leveraged ETN (GDXU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVGX achieves a 69.89% return, which is significantly higher than GDXU's -43.81% return.

AVGX

• 1D: -0.83%
• 1M: 29.49%
• YTD: 69.89%
• 6M: 35.83%
• 1Y: 156.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GDXU

• 1D: -10.63%
• 1M: -11.26%
• YTD: -43.81%
• 6M: -33.96%
• 1Y: 72.31%
• 3Y*: 46.61%
• 5Y*: -10.91%
• 10Y*: —

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

AVGX vs. GDXU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AVGX Defiance Daily Target 2X Long AVGO ETF	69.89%	46.98%	69.92%
GDXU MicroSectors Gold Miners 3X Leveraged ETN	-43.81%	796.47%	-39.88%

Correlation

The correlation between AVGX and GDXU is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (All Time) Calculated using the full available price history since Aug 23, 2024	0.23

Return for Risk

AVGX vs. GDXU — Risk / Return Rank

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

AVGX

AVGX Risk / Return Rank: 50
AVGX Sharpe Ratio Rank: 53
AVGX Sortino Ratio Rank: 50
AVGX Omega Ratio Rank: 48
AVGX Calmar Ratio Rank: 59
AVGX Martin Ratio Rank: 40

GDXU

GDXU Risk / Return Rank: 23
GDXU Sharpe Ratio Rank: 17
GDXU Sortino Ratio Rank: 28
GDXU Omega Ratio Rank: 31
GDXU Calmar Ratio Rank: 22
GDXU Martin Ratio Rank: 18

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.

AVGX vs. GDXU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long AVGO ETF (AVGX) and MicroSectors Gold Miners 3X Leveraged ETN (GDXU). 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.

	AVGX	GDXU	Difference
Sharpe ratio: Return per unit of total volatility	1.83	0.53	+1.31
Sortino ratio: Return per unit of downside risk	2.45	1.53	+0.91
Omega ratio: Gain probability vs. loss probability	1.31	1.21	+0.09
Calmar ratio: Return relative to maximum drawdown	2.91	0.98	+1.93
Martin ratio: Return relative to average drawdown	6.49	2.00	+4.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AVGX vs. GDXU - Sharpe Ratio Comparison

The current AVGX Sharpe Ratio is 1.83, which is higher than the GDXU Sharpe Ratio of 0.53. The chart below compares the historical Sharpe Ratios of AVGX and GDXU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AVGX	GDXU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.83	0.53	+1.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.10	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.21	-0.09	+1.30

Drawdowns

AVGX vs. GDXU - Drawdown Comparison

The maximum AVGX drawdown since its inception was -70.97%, smaller than the maximum GDXU drawdown of -94.39%. Use the drawdown chart below to compare losses from any high point for AVGX and GDXU.

Drawdown Indicators

	AVGX	GDXU	Difference
Max Drawdown Largest peak-to-trough decline	-70.97%	-94.39%	+23.42%
Max Drawdown (1Y) Largest decline over 1 year	-54.09%	-73.99%	+19.90%
Max Drawdown (3Y) Largest decline over 3 years	—	-73.99%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-92.93%	—
Current Drawdown Current decline from peak	-0.83%	-73.92%	+73.09%
Average Drawdown Average peak-to-trough decline	-22.71%	-69.77%	+47.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.20%	36.23%	-12.03%

Volatility

AVGX vs. GDXU - Volatility Comparison

The current volatility for Defiance Daily Target 2X Long AVGO ETF (AVGX) is 23.50%, while MicroSectors Gold Miners 3X Leveraged ETN (GDXU) has a volatility of 46.45%. This indicates that AVGX experiences smaller price fluctuations and is considered to be less risky than GDXU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVGX	GDXU	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.50%	46.45%	-22.95%
Volatility (6M) Calculated over the trailing 6-month period	61.90%	118.07%	-56.17%
Volatility (1Y) Calculated over the trailing 1-year period	85.97%	137.57%	-51.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	104.65%	110.85%	-6.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	104.65%	110.02%	-5.37%

AVGX vs. GDXU - Expense Ratio Comparison

AVGX has a 1.29% expense ratio, which is higher than GDXU's 0.95% expense ratio.

Dividends

AVGX vs. GDXU - Dividend Comparison

AVGX's dividend yield for the trailing twelve months is around 0.97%, while GDXU has not paid dividends to shareholders.

Position	TTM	2025	2024
AVGX Defiance Daily Target 2X Long AVGO ETF	0.97%	1.65%	0.81%
GDXU MicroSectors Gold Miners 3X Leveraged ETN	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AVGX and GDXU in my portfolio?

AVGX and GDXU have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVGX or GDXU?

GDXU has higher volatility (46.45%) compared to AVGX (23.50%). In terms of maximum drawdown, AVGX dropped -70.97% vs GDXU's -94.39%.

Which ETF is better, AVGX or GDXU?

On 1-year performance, AVGX leads with 156.34% vs 72.31% for GDXU. On fees, GDXU is cheaper at 0.95% per year. On volatility, AVGX has been the lower-risk option at 23.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVGX or GDXU?

Over the 1-year period, AVGX has performed better with a 156.34% return vs 72.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVGX or GDXU?

GDXU is cheaper with a 0.95% expense ratio, compared with 1.29% for AVGX.

Which ETF pays a higher dividend yield, AVGX or GDXU?

AVGX has the higher dividend yield at 0.97%, compared with 0.00% for GDXU.

What is the main difference between AVGX and GDXU?

They also come from different issuers: Defiance and BMO. Their fees differ too: 1.29% for AVGX and 0.95% for GDXU.

Which has better risk-adjusted returns?

AVGX currently has the higher Sharpe Ratio (1.83 vs 0.53), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.