GDXD vs. EMTY
GDXD (MicroSectors Gold Miners -3X Inverse Leveraged ETNs due June 29, 2040) and EMTY (ProShares Decline of the Retail Store ETF) are both Inverse Equities funds - GDXD tracks the S-Network MicroSectors Gold Miners Index while EMTY tracks the Solactive-ProShares Bricks and Mortar Retail Store Index (-100%). Both are passively managed. Over the past 5 years, GDXD returned -73.29%/yr vs -3.08%/yr for EMTY. Their 0.20 correlation means their historical movements had little consistent relationship. GDXD charges 0.95%/yr vs 0.66%/yr for EMTY.
Performance
GDXD vs. EMTY - Performance Comparison
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Returns By Period
In the year-to-date period, GDXD achieves a -42.32% return, which is significantly lower than EMTY's -2.27% return.
GDXD
- 1D
- 10.48%
- 1M
- 10.38%
- 6M
- -10.42%
- YTD
- -42.32%
- 1Y
- -91.93%
- 3Y*
- -83.55%
- 5Y*
- -73.29%
- 10Y*
- —
- ALL TIME*
- -70.78%
EMTY
- 1D
- 0.53%
- 1M
- -0.72%
- 6M
- 2.65%
- YTD
- -2.27%
- 1Y
- -0.27%
- 3Y*
- -3.37%
- 5Y*
- -3.08%
- 10Y*
- —
- ALL TIME*
- -11.36%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $18.44K | $30.35K | $49.16K | |
| $19.58M | $21.95M | $29.87M |
GDXD vs. EMTY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GDXD MicroSectors Gold Miners -3X Inverse Leveraged ETNs due June 29, 2040 | -42.32% | -97.53% | -57.78% | -52.35% | -52.56% | -19.71% | -13.10% |
EMTY ProShares Decline of the Retail Store ETF | -2.27% | -1.76% | -4.13% | 0.27% | 4.32% | -37.39% | -2.47% |
Correlation
The correlation between GDXD and EMTY is 0.17, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.17 |
Correlation (3Y) Balances recent behavior with more history. | 0.20 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.20 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2020 | 0.20 |
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Return for Risk
GDXD vs. EMTY — Risk / Return Rank
GDXD
EMTY
GDXD vs. EMTY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors Gold Miners -3X Inverse Leveraged ETNs due June 29, 2040 (GDXD) and ProShares Decline of the Retail Store ETF (EMTY). 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.
| GDXD | EMTY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.60 | ||
| Sortino ratioReturn per unit of downside risk | -1.58 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.01 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | -0.04 | -0.92 |
| Martin ratioReturn relative to average drawdown | -1.11 | -0.09 | -1.02 |
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Drawdowns
GDXD vs. EMTY - Drawdown Comparison
The maximum GDXD drawdown since its inception was -99.96%, which is greater than EMTY's maximum drawdown of -77.62%. Use the drawdown chart below to compare losses from any high point for GDXD and EMTY.
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Drawdown Indicators
| GDXD | EMTY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.96% | -77.62% | -22.34% |
Max Drawdown (1Y)Largest decline over 1 year | -95.95% | -13.91% | -82.04% |
Max Drawdown (3Y)Largest decline over 3 years | -99.86% | -30.83% | -69.03% |
Max Drawdown (5Y)Largest decline over 5 years | -99.96% | -30.83% | -69.13% |
Current DrawdownCurrent decline from peak | -99.92% | -75.61% | -24.31% |
Average DrawdownAverage peak-to-trough decline | -72.59% | -54.65% | -17.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 83.56% | 6.54% | +77.02% |
Volatility
GDXD vs. EMTY - Volatility Comparison
MicroSectors Gold Miners -3X Inverse Leveraged ETNs due June 29, 2040 (GDXD) has a higher volatility of 40.76% compared to ProShares Decline of the Retail Store ETF (EMTY) at 6.54%. This indicates that GDXD's price experiences larger fluctuations and is considered to be riskier than EMTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GDXD | EMTY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 40.76% | 6.54% | +34.22% |
Volatility (6M)Calculated over the trailing 6-month period | 118.25% | 13.79% | +104.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 146.68% | 18.41% | +128.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 112.62% | 22.46% | +90.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 110.97% | 25.60% | +85.37% |
GDXD vs. EMTY - Expense Ratio Comparison
GDXD has a 0.95% expense ratio, which is higher than EMTY's 0.66% expense ratio.
Dividends
GDXD vs. EMTY - Dividend Comparison
GDXD has not paid dividends to shareholders, while EMTY's dividend yield for the trailing twelve months is around 3.33%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
EMTY ProShares Decline of the Retail Store ETF | 3.33% | 3.83% | 6.00% | 4.41% | 0.65% | 0.00% | 0.07% | 0.82% | 0.62% | 0.03% |
GDXD MicroSectors Gold Miners -3X Inverse Leveraged ETNs due June 29, 2040 | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GDXD and EMTY have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDXD has higher volatility (40.76%) compared to EMTY (6.54%). In terms of maximum drawdown, GDXD dropped -99.96% vs EMTY's -77.62%.
On 5-year performance, EMTY leads with -3.08% vs -73.29% for GDXD. On fees, EMTY is cheaper at 0.66% per year. On volatility, EMTY has been the lower-risk option at 6.54%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, EMTY has performed better with a -3.08% return vs -73.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMTY is cheaper with a 0.66% expense ratio, compared with 0.95% for GDXD.
EMTY has the higher dividend yield at 3.33%, compared with 0.00% for GDXD.
GDXD tracks S-Network MicroSectors Gold Miners Index, while EMTY tracks Solactive-ProShares Bricks and Mortar Retail Store Index (-100%). They also come from different issuers: BMO and ProShares. Their fees differ too: 0.95% for GDXD and 0.66% for EMTY.
EMTY currently has the higher Sharpe Ratio (-0.03 vs -0.63), 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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