DXMO.TO vs. GDXU

Last updated Jun 4, 2026

DXMO.TO (Dynamic Active Mining Opportunities ETF) and GDXU (MicroSectors Gold Miners 3X Leveraged ETN) are both exchange-traded funds - DXMO.TO is a Materials fund actively managed by Dynamic, while GDXU is a Leveraged Equities fund tracking the S-Network MicroSectors Gold Miners Index. DXMO.TO is actively managed, while GDXU is passively managed. Over the past year, DXMO.TO returned 68.74% vs 74.54% for GDXU. A 0.55 correlation means they provide meaningful diversification when combined. DXMO.TO charges 0.74%/yr vs 0.95%/yr for GDXU.

Performance

DXMO.TO vs. GDXU - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Dynamic Active Mining Opportunities ETF (DXMO.TO) and MicroSectors Gold Miners 3X Leveraged ETN (GDXU). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

DXMO.TO is traded in CAD, while GDXU is traded in USD. To make them comparable, the GDXU values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, DXMO.TO achieves a 11.64% return, which is significantly higher than GDXU's -43.09% return.

DXMO.TO

• 1D: -2.82%
• 1M: 7.64%
• YTD: 11.64%
• 6M: 21.16%
• 1Y: 68.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GDXU

• 1D: -10.26%
• 1M: -9.49%
• YTD: -43.09%
• 6M: -34.21%
• 1Y: 74.54%
• 3Y*: 48.31%
• 5Y*: -8.37%
• 10Y*: —

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

DXMO.TO vs. GDXU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DXMO.TO Dynamic Active Mining Opportunities ETF	11.64%	88.43%	-9.23%
GDXU MicroSectors Gold Miners 3X Leveraged ETN	-43.09%	755.35%	-23.04%

Correlation

The correlation between DXMO.TO and GDXU is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.69
Correlation (All Time) Calculated using the full available price history since Jul 5, 2024	0.55

The correlation between DXMO.TO and GDXU shifts across timeframes, from 0.55 (all time) to 0.69 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

DXMO.TO vs. GDXU — Risk / Return Rank

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

DXMO.TO

DXMO.TO Risk / Return Rank: 52
DXMO.TO Sharpe Ratio Rank: 56
DXMO.TO Sortino Ratio Rank: 48
DXMO.TO Omega Ratio Rank: 52
DXMO.TO Calmar Ratio Rank: 54
DXMO.TO Martin Ratio Rank: 49

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.

DXMO.TO vs. GDXU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dynamic Active Mining Opportunities ETF (DXMO.TO) 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.

	DXMO.TO	GDXU	Difference
Sharpe ratio: Return per unit of total volatility	1.92	0.55	+1.37
Sortino ratio: Return per unit of downside risk	2.36	1.54	+0.81
Omega ratio: Gain probability vs. loss probability	1.32	1.21	+0.11
Calmar ratio: Return relative to maximum drawdown	2.65	1.02	+1.63
Martin ratio: Return relative to average drawdown	8.17	2.08	+6.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DXMO.TO vs. GDXU - Sharpe Ratio Comparison

The current DXMO.TO Sharpe Ratio is 1.92, which is higher than the GDXU Sharpe Ratio of 0.55. The chart below compares the historical Sharpe Ratios of DXMO.TO 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

	DXMO.TO	GDXU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.92	0.55	+1.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.08	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.18	-0.08	+1.26

Drawdowns

DXMO.TO vs. GDXU - Drawdown Comparison

The maximum DXMO.TO drawdown since its inception was -26.12%, smaller than the maximum GDXU drawdown of -93.99%. Use the drawdown chart below to compare losses from any high point for DXMO.TO and GDXU.

Drawdown Indicators

	DXMO.TO	GDXU	Difference
Max Drawdown Largest peak-to-trough decline	-26.12%	-93.99%	+67.87%
Max Drawdown (1Y) Largest decline over 1 year	-26.12%	-73.63%	+47.51%
Max Drawdown (3Y) Largest decline over 3 years	—	-73.63%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-92.07%	—
Current Drawdown Current decline from peak	-9.81%	-73.26%	+63.45%
Average Drawdown Average peak-to-trough decline	-5.77%	-68.86%	+63.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.44%	35.98%	-27.54%

Volatility

DXMO.TO vs. GDXU - Volatility Comparison

The current volatility for Dynamic Active Mining Opportunities ETF (DXMO.TO) is 13.29%, while MicroSectors Gold Miners 3X Leveraged ETN (GDXU) has a volatility of 46.23%. This indicates that DXMO.TO 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

	DXMO.TO	GDXU	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.29%	46.23%	-32.94%
Volatility (6M) Calculated over the trailing 6-month period	29.44%	116.73%	-87.29%
Volatility (1Y) Calculated over the trailing 1-year period	36.05%	136.22%	-100.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.42%	107.85%	-73.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.42%	107.09%	-72.67%

DXMO.TO vs. GDXU - Expense Ratio Comparison

DXMO.TO has a 0.74% expense ratio, which is lower than GDXU's 0.95% expense ratio.

Dividends

DXMO.TO vs. GDXU - Dividend Comparison

DXMO.TO's dividend yield for the trailing twelve months is around 0.16%, while GDXU has not paid dividends to shareholders.

Position	TTM	2025	2024
DXMO.TO Dynamic Active Mining Opportunities ETF	0.16%	0.18%	0.50%
GDXU MicroSectors Gold Miners 3X Leveraged ETN	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DXMO.TO and GDXU in my portfolio?

DXMO.TO and GDXU 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.

Which ETF is better, DXMO.TO or GDXU?

On fees, DXMO.TO is cheaper at 0.74% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DXMO.TO or GDXU?

DXMO.TO is cheaper with a 0.74% expense ratio, compared with 0.95% for GDXU.

What is the main difference between DXMO.TO and GDXU?

DXMO.TO is categorized as Materials, while GDXU is Leveraged Equities. They also come from different issuers: Dynamic and BMO. Their fees differ too: 0.74% for DXMO.TO and 0.95% for GDXU.