GDXD vs. MGNR
GDXD (MicroSectors Gold Miners -3X Inverse Leveraged ETNs due June 29, 2040) and MGNR (American Beacon GLG Natural Resources ETF) are both exchange-traded funds - GDXD is a Inverse Equities fund tracking the S-Network MicroSectors Gold Miners Index, while MGNR is a Energy Equities fund actively managed by American Beacon. GDXD is passively managed, while MGNR is actively managed. Over the past year, GDXD returned -91.93% vs 50.92% for MGNR. Their -0.68 correlation means they have often moved in opposite directions in the past. GDXD charges 0.95%/yr vs 0.75%/yr for MGNR.
Performance
GDXD vs. MGNR - 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 MGNR's 11.03% 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%
MGNR
- 1D
- -0.83%
- 1M
- 0.98%
- 6M
- -0.03%
- YTD
- 11.03%
- 1Y
- 50.92%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 33.68%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $19.58M | $21.95M | $29.87M | |
| $4.07M | $4.59M | $4.62M |
GDXD vs. MGNR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GDXD MicroSectors Gold Miners -3X Inverse Leveraged ETNs due June 29, 2040 | -42.32% | -97.53% | -69.66% |
MGNR American Beacon GLG Natural Resources ETF | 11.03% | 50.57% | 22.90% |
Correlation
The correlation between GDXD and MGNR is -0.78, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.78 |
Correlation (All Time) Calculated using the full available price history since Feb 6, 2024 | -0.68 |
The correlation between GDXD and MGNR shifts across timeframes, from -0.78 (1 year) to -0.68 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GDXD vs. MGNR — Risk / Return Rank
GDXD
MGNR
GDXD vs. MGNR - 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 American Beacon GLG Natural Resources ETF (MGNR). 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 | MGNR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.61 | ||
| Sortino ratioReturn per unit of downside risk | -3.96 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.33 | -0.49 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | 3.19 | -4.15 |
| Martin ratioReturn relative to average drawdown | -1.11 | 8.51 | -9.63 |
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Drawdowns
GDXD vs. MGNR - Drawdown Comparison
The maximum GDXD drawdown since its inception was -99.96%, which is greater than MGNR's maximum drawdown of -22.06%. Use the drawdown chart below to compare losses from any high point for GDXD and MGNR.
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Drawdown Indicators
| GDXD | MGNR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.96% | -22.06% | -77.90% |
Max Drawdown (1Y)Largest decline over 1 year | -95.95% | -15.51% | -80.44% |
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% | -13.36% | -86.56% |
Average DrawdownAverage peak-to-trough decline | -72.59% | -4.38% | -68.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 83.56% | 5.80% | +77.76% |
Volatility
GDXD vs. MGNR - Volatility Comparison
MicroSectors Gold Miners -3X Inverse Leveraged ETNs due June 29, 2040 (GDXD) has a higher volatility of 40.76% compared to American Beacon GLG Natural Resources ETF (MGNR) at 6.60%. This indicates that GDXD's price experiences larger fluctuations and is considered to be riskier than MGNR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GDXD | MGNR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 40.76% | 6.60% | +34.16% |
Volatility (6M)Calculated over the trailing 6-month period | 118.25% | 19.68% | +98.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 146.68% | 25.03% | +121.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 112.62% | 25.20% | +87.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 110.97% | 25.20% | +85.77% |
GDXD vs. MGNR - Expense Ratio Comparison
GDXD has a 0.95% expense ratio, which is higher than MGNR's 0.75% expense ratio.
Dividends
GDXD vs. MGNR - Dividend Comparison
GDXD has not paid dividends to shareholders, while MGNR's dividend yield for the trailing twelve months is around 0.84%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
GDXD MicroSectors Gold Miners -3X Inverse Leveraged ETNs due June 29, 2040 | 0.00% | 0.00% | 0.00% |
MGNR American Beacon GLG Natural Resources ETF | 0.84% | 1.17% | 0.79% |
Frequently Asked Questions
GDXD and MGNR have a correlation of -0.78, 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 MGNR (6.60%). In terms of maximum drawdown, GDXD dropped -99.96% vs MGNR's -22.06%.
On 1-year performance, MGNR leads with 50.92% vs -91.93% for GDXD. On fees, MGNR is cheaper at 0.75% per year. On volatility, MGNR has been the lower-risk option at 6.60%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, MGNR has performed better with a 50.92% return vs -91.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MGNR is cheaper with a 0.75% expense ratio, compared with 0.95% for GDXD.
MGNR has the higher dividend yield at 0.84%, compared with 0.00% for GDXD.
GDXD is categorized as Inverse Equities, while MGNR is Energy Equities. They also come from different issuers: BMO and American Beacon. Their fees differ too: 0.95% for GDXD and 0.75% for MGNR.
MGNR currently has the higher Sharpe Ratio (1.98 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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