GDXD vs. FIAT
GDXD (MicroSectors Gold Miners -3X Inverse Leveraged ETNs due June 29, 2040) 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, 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 -91.93% vs 46.24% for FIAT. Their 0.21 correlation means their historical movements had little consistent relationship. 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 -42.32% return, which is significantly lower than FIAT's 20.02% 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%
FIAT
- 1D
- 7.62%
- 1M
- 9.92%
- 6M
- 8.11%
- YTD
- 20.02%
- 1Y
- 46.24%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -18.60%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.23M | $1.24M | $1.59M | |
| $19.58M | $21.95M | $29.87M |
GDXD vs. FIAT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GDXD MicroSectors Gold Miners -3X Inverse Leveraged ETNs due June 29, 2040 | -42.32% | -97.53% | -10.36% |
FIAT YieldMax Short COIN Option Income Strategy ETF | 20.02% | -24.17% | -28.04% |
Correlation
The correlation between GDXD and FIAT is 0.29, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.29 |
Correlation (All Time) Calculated using the full available price history since Jul 10, 2024 | 0.21 |
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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 due June 29, 2040 (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.
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 | FIAT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.76 | ||
| Sortino ratioReturn per unit of downside risk | -3.12 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.22 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | 1.80 | -2.76 |
| Martin ratioReturn relative to average drawdown | -1.11 | 3.72 | -4.83 |
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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 | -95.95% | -34.22% | -61.73% |
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 | -99.92% | -48.27% | -51.65% |
Average DrawdownAverage peak-to-trough decline | -72.59% | -45.69% | -26.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 83.56% | 16.53% | +67.03% |
Volatility
GDXD vs. FIAT - Volatility Comparison
MicroSectors Gold Miners -3X Inverse Leveraged ETNs due June 29, 2040 (GDXD) has a higher volatility of 40.76% compared to YieldMax Short COIN Option Income Strategy ETF (FIAT) at 16.11%. 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 | 40.76% | 16.11% | +24.65% |
Volatility (6M)Calculated over the trailing 6-month period | 118.25% | 45.18% | +73.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 146.68% | 54.24% | +92.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 112.62% | 60.12% | +52.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 110.97% | 60.12% | +50.85% |
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 101.18%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
FIAT YieldMax Short COIN Option Income Strategy ETF | 101.18% | 178.11% | 70.99% |
GDXD MicroSectors Gold Miners -3X Inverse Leveraged ETNs due June 29, 2040 | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GDXD and FIAT have a correlation of 0.29, 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 FIAT (16.11%). In terms of maximum drawdown, GDXD dropped -99.96% vs FIAT's -70.50%.
On 1-year performance, FIAT leads with 46.24% vs -91.93% for GDXD. On fees, GDXD is cheaper at 0.95% per year. On volatility, FIAT has been the lower-risk option at 16.11%. 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 46.24% return vs -91.93%. 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 101.18%, 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 (1.14 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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