ESPO vs. GDXU
ESPO (VanEck Video Gaming and eSports ETF) and GDXU (MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040) are both exchange-traded funds - ESPO is a Gaming fund tracking the MVIS Global Video Gaming and eSports Index, while GDXU is a Leveraged Equities fund tracking the S-Network MicroSectors Gold Miners Index. Both are passively managed. Over the past 5 years, ESPO returned 8.32%/yr vs -14.38%/yr for GDXU. Their 0.30 correlation means their historical movements had little consistent relationship. ESPO charges 0.55%/yr vs 0.95%/yr for GDXU.
Performance
ESPO vs. GDXU - Performance Comparison
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Returns By Period
In the year-to-date period, ESPO achieves a -9.09% return, which is significantly higher than GDXU's -69.22% return.
ESPO
- 1D
- -3.16%
- 1M
- 3.18%
- 6M
- -5.98%
- YTD
- -9.09%
- 1Y
- -11.33%
- 3Y*
- 18.46%
- 5Y*
- 8.32%
- 10Y*
- —
- ALL TIME*
- 16.59%
GDXU
- 1D
- -10.43%
- 1M
- -11.49%
- 6M
- -73.59%
- YTD
- -69.22%
- 1Y
- 12.97%
- 3Y*
- 27.81%
- 5Y*
- -14.38%
- 10Y*
- —
- ALL TIME*
- -18.76%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.98M | $1.50M | $1.55M | |
| $99.61M | $115.40M | $172.82M |
ESPO vs. GDXU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ESPO VanEck Video Gaming and eSports ETF | -9.09% | 25.79% | 47.61% | 33.64% | -34.71% | -2.13% | 6.74% |
GDXU MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 | -69.22% | 796.47% | -18.60% | -21.36% | -62.82% | -54.93% | 4.32% |
Correlation
The correlation between ESPO and GDXU is 0.37, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.37 |
Correlation (3Y) Balances recent behavior with more history. | 0.32 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.30 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2020 | 0.30 |
ESPO vs. GDXU - Sectors Allocation Comparison
Sectors
ESPO
GDXU
Communication Services
-
Consumer Cyclical
-
Technology
-
Basic Materials
-
Consumer Defensive
-
-
Energy
-
-
Financial Services
-
-
Healthcare
-
-
Industrials
-
-
Real Estate
-
-
Utilities
-
-
Communication Services
ESPO
GDXU
-
Consumer Cyclical
ESPO
GDXU
-
Technology
ESPO
GDXU
-
Basic Materials
ESPO
-
GDXU
Consumer Defensive
ESPO
-
GDXU
-
Energy
ESPO
-
GDXU
-
Financial Services
ESPO
-
GDXU
-
Healthcare
ESPO
-
GDXU
-
Industrials
ESPO
-
GDXU
-
Real Estate
ESPO
-
GDXU
-
Utilities
ESPO
-
GDXU
-
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Return for Risk
ESPO vs. GDXU — Risk / Return Rank
ESPO
GDXU
ESPO vs. GDXU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Video Gaming and eSports ETF (ESPO) and MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 (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.
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.
| ESPO | GDXU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.67 | ||
| Sortino ratioReturn per unit of downside risk | -1.88 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.15 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.39 | 0.15 | -0.54 |
| Martin ratioReturn relative to average drawdown | -0.62 | 0.27 | -0.89 |
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Drawdowns
ESPO vs. GDXU - Drawdown Comparison
The maximum ESPO drawdown since its inception was -50.99%, smaller than the maximum GDXU drawdown of -94.39%. Use the drawdown chart below to compare losses from any high point for ESPO and GDXU.
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Drawdown Indicators
| ESPO | GDXU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.99% | -94.39% | +43.40% |
Max Drawdown (1Y)Largest decline over 1 year | -29.43% | -87.14% | +57.71% |
Max Drawdown (3Y)Largest decline over 3 years | -29.43% | -87.14% | +57.71% |
Max Drawdown (5Y)Largest decline over 5 years | -48.33% | -91.30% | +42.97% |
Current DrawdownCurrent decline from peak | -22.03% | -85.71% | +63.68% |
Average DrawdownAverage peak-to-trough decline | -15.23% | -70.08% | +54.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.32% | 48.64% | -30.32% |
Volatility
ESPO vs. GDXU - Volatility Comparison
The current volatility for VanEck Video Gaming and eSports ETF (ESPO) is 6.66%, while MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 (GDXU) has a volatility of 38.79%. This indicates that ESPO 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.
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Volatility by Period
| ESPO | GDXU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.66% | 38.79% | -32.13% |
Volatility (6M)Calculated over the trailing 6-month period | 16.07% | 125.93% | -109.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.65% | 147.32% | -127.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.12% | 113.44% | -88.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.65% | 111.56% | -85.91% |
ESPO vs. GDXU - Expense Ratio Comparison
ESPO has a 0.55% expense ratio, which is lower than GDXU's 0.95% expense ratio.
Dividends
ESPO vs. GDXU - Dividend Comparison
ESPO's dividend yield for the trailing twelve months is around 1.37%, while GDXU has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
ESPO VanEck Video Gaming and eSports ETF | 1.37% | 1.24% | 0.44% | 0.96% | 0.91% | 3.36% | 0.12% | 0.22% | 0.04% |
GDXU MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ESPO and GDXU have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDXU has higher volatility (38.79%) compared to ESPO (6.66%). In terms of maximum drawdown, ESPO dropped -50.99% vs GDXU's -94.39%.
On 5-year performance, ESPO leads with 8.32% vs -14.38% for GDXU. On fees, ESPO is cheaper at 0.55% per year. On volatility, ESPO has been the lower-risk option at 6.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, ESPO has performed better with a 8.32% return vs -14.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ESPO is cheaper with a 0.55% expense ratio, compared with 0.95% for GDXU.
ESPO has the higher dividend yield at 1.37%, compared with 0.00% for GDXU.
ESPO is categorized as Gaming, while GDXU is Leveraged Equities. ESPO tracks MVIS Global Video Gaming and eSports Index, while GDXU tracks S-Network MicroSectors Gold Miners Index. They also come from different issuers: VanEck and BMO. Their fees differ too: 0.55% for ESPO and 0.95% for GDXU.
GDXU currently has the higher Sharpe Ratio (0.09 vs -0.58), 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.
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