GDXD vs. FIAT
GDXD (MicroSectors Gold Miners -3X Inverse Leveraged ETNs) and FIAT (YieldMax Short COIN Option Income Strategy ETF) are both exchange-traded funds - GDXD is a Inverse Equities fund tracking the S-Network MicroSectors Gold Miners Index - Benchmark TR Gross (-300%), while FIAT is a Derivative Income fund actively managed by YieldMax. GDXD is passively managed, while FIAT is actively managed. Over the past year, GDXD returned -93.08% vs -0.18% for FIAT. At a 0.17 correlation, their price movements are largely independent. GDXD charges 0.95%/yr vs 0.99%/yr for FIAT.
Performance
GDXD vs. FIAT - Performance Comparison
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Returns By Period
In the year-to-date period, GDXD achieves a -51.20% return, which is significantly lower than FIAT's 13.84% return.
GDXD
- 1D
- 10.76%
- 1M
- -10.12%
- YTD
- -51.20%
- 6M
- -62.62%
- 1Y
- -93.08%
- 3Y*
- -84.24%
- 5Y*
- -72.73%
- 10Y*
- —
FIAT
- 1D
- 4.32%
- 1M
- 16.99%
- YTD
- 13.84%
- 6M
- 33.71%
- 1Y
- -0.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GDXD vs. FIAT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GDXD MicroSectors Gold Miners -3X Inverse Leveraged ETNs | -51.20% | -97.53% | -2.72% |
FIAT YieldMax Short COIN Option Income Strategy ETF | 13.84% | -24.17% | -28.61% |
Correlation
The correlation between GDXD and FIAT is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2024 | 0.17 |
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Return for Risk
GDXD vs. FIAT — Risk / Return Rank
GDXD
FIAT
GDXD vs. FIAT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors Gold Miners -3X Inverse Leveraged ETNs (GDXD) and YieldMax Short COIN Option Income Strategy ETF (FIAT). 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.
| GDXD | FIAT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.68 | -0.00 | -0.68 |
Sortino ratioReturn per unit of downside risk | -1.88 | 0.37 | -2.25 |
Omega ratioGain probability vs. loss probability | 0.80 | 1.05 | -0.25 |
Calmar ratioReturn relative to maximum drawdown | -0.97 | -0.00 | -0.96 |
Martin ratioReturn relative to average drawdown | -1.22 | -0.01 | -1.22 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GDXD | FIAT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.68 | -0.00 | -0.68 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.66 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.67 | -0.37 | -0.29 |
Drawdowns
GDXD vs. FIAT - Drawdown Comparison
The maximum GDXD drawdown since its inception was -99.96%, which is greater than FIAT's maximum drawdown of -70.50%. Use the drawdown chart below to compare losses from any high point for GDXD and FIAT.
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Drawdown Indicators
| GDXD | FIAT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.96% | -70.50% | -29.46% |
Max Drawdown (1Y)Largest decline over 1 year | -96.33% | -42.26% | -54.07% |
Max Drawdown (3Y)Largest decline over 3 years | -99.86% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -99.96% | — | — |
Current DrawdownCurrent decline from peak | -99.93% | -50.94% | -48.99% |
Average DrawdownAverage peak-to-trough decline | -71.85% | -45.35% | -26.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 75.91% | 27.32% | +48.59% |
Volatility
GDXD vs. FIAT - Volatility Comparison
MicroSectors Gold Miners -3X Inverse Leveraged ETNs (GDXD) has a higher volatility of 47.44% compared to YieldMax Short COIN Option Income Strategy ETF (FIAT) at 15.34%. This indicates that GDXD's price experiences larger fluctuations and is considered to be riskier than FIAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GDXD | FIAT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 47.44% | 15.34% | +32.10% |
Volatility (6M)Calculated over the trailing 6-month period | 109.86% | 42.03% | +67.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 136.25% | 55.49% | +80.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 109.97% | 60.56% | +49.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 109.35% | 60.56% | +48.79% |
GDXD vs. FIAT - Expense Ratio Comparison
GDXD has a 0.95% expense ratio, which is lower than FIAT's 0.99% expense ratio.
Dividends
GDXD vs. FIAT - Dividend Comparison
GDXD has not paid dividends to shareholders, while FIAT's dividend yield for the trailing twelve months is around 93.28%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
FIAT YieldMax Short COIN Option Income Strategy ETF | 93.28% | 178.11% | 70.99% |
GDXD MicroSectors Gold Miners -3X Inverse Leveraged ETNs | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GDXD and FIAT have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDXD has higher volatility (47.44%) compared to FIAT (15.34%). In terms of maximum drawdown, GDXD dropped -99.96% vs FIAT's -70.50%.
On 1-year performance, FIAT leads with -0.18% vs -93.08% for GDXD. On fees, GDXD is cheaper at 0.95% per year. On volatility, FIAT has been the lower-risk option at 15.34%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FIAT has performed better with a -0.18% return vs -93.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GDXD is cheaper with a 0.95% expense ratio, compared with 0.99% for FIAT.
FIAT has the higher dividend yield at 93.28%, compared with 0.00% for GDXD.
GDXD is categorized as Inverse Equities, while FIAT is Derivative Income. They also come from different issuers: BMO and YieldMax. Their fees differ too: 0.95% for GDXD and 0.99% for FIAT.
FIAT currently has the higher Sharpe Ratio (-0.00 vs -0.68), 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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