GDXD vs. OILU

Last updated Aug 2, 2026

GDXD (MicroSectors Gold Miners -3X Inverse Leveraged ETNs due June 29, 2040) and OILU (MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN) are both exchange-traded funds - GDXD is a Inverse Equities fund tracking the S-Network MicroSectors Gold Miners Index, while OILU is a Leveraged Equities fund tracking the Solactive MicroSectors Oil & Gas Exploration & Production Index. Both are passively managed. Over the past 3 years, GDXD returned -83.55%/yr vs 1.15%/yr for OILU. Their -0.20 correlation means they have often moved in opposite directions in the past. Both charge a 0.95% expense ratio.

Performance

GDXD vs. OILU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Gold Miners -3X Inverse Leveraged ETNs due June 29, 2040 (GDXD) and MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GDXD achieves a -42.32% return, which is significantly lower than OILU's 95.09% 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%

OILU

• 1D: 3.79%
• 1M: 38.67%
• 6M: 37.11%
• YTD: 95.09%
• 1Y: 107.91%
• 3Y*: 1.15%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.25%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GDXD MicroSectors Gold Miners -3X Inverse Leveraged ETNs due June 29, 2040	$19.58M	$21.95M	$29.87M
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN	$8.21M	$8.45M	$7.94M

GDXD vs. OILU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
GDXD MicroSectors Gold Miners -3X Inverse Leveraged ETNs due June 29, 2040	-42.32%	-97.53%	-57.78%	-52.35%	-52.56%	-0.72%
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN	95.09%	-16.50%	-21.65%	-32.50%	151.08%	-16.79%

Correlation

The correlation between GDXD and OILU is 0.07, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.07
Correlation (3Y) Balances recent behavior with more history.	-0.09
Correlation (All Time) Calculated using the full available price history since Nov 9, 2021	-0.20

The correlation between GDXD and OILU shifts across timeframes, from -0.20 (all time) to 0.07 (1 year), reflecting how their relationship changes across market environments.

GDXD vs. OILU - Sectors Allocation Comparison

Sectors	GDXD	OILU
Basic Materials	100.0%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	100.0%
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

GDXD vs. OILU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GDXD

GDXD Risk / Return Rank: 2
GDXD Sharpe Ratio Rank: 4
GDXD Sortino Ratio Rank: 2
GDXD Omega Ratio Rank: 2
GDXD Calmar Ratio Rank: 0
GDXD Martin Ratio Rank: 4

OILU

OILU Risk / Return Rank: 56
OILU Sharpe Ratio Rank: 65
OILU Sortino Ratio Rank: 57
OILU Omega Ratio Rank: 55
OILU Calmar Ratio Rank: 59
OILU Martin Ratio Rank: 45

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GDXD vs. OILU - 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 MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU). 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	OILU	Difference
Sharpe ratio: Return per unit of total volatility	-0.63	1.50	-2.13
Sortino ratio: Return per unit of downside risk	-1.50	1.96	-3.46
Omega ratio: Gain probability vs. loss probability	0.84	1.24	-0.40
Calmar ratio: Return relative to maximum drawdown	-0.96	2.07	-3.03
Martin ratio: Return relative to average drawdown	-1.11	5.11	-6.22

GDXD vs. OILU - Sharpe Ratio Comparison

The current GDXD Sharpe Ratio is -0.63, which is lower than the OILU Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of GDXD and OILU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GDXD vs. OILU - Drawdown Comparison

The maximum GDXD drawdown since its inception was -99.96%, which is greater than OILU's maximum drawdown of -81.00%. Use the drawdown chart below to compare losses from any high point for GDXD and OILU.

Drawdown Indicators

	GDXD	OILU	Difference
Max Drawdown Largest peak-to-trough decline	-99.96%	-81.00%	-18.96%
Max Drawdown (1Y) Largest decline over 1 year	-95.95%	-46.49%	-49.46%
Max Drawdown (3Y) Largest decline over 3 years	-99.86%	-69.09%	-30.77%
Max Drawdown (5Y) Largest decline over 5 years	-99.96%	—	—
Current Drawdown Current decline from peak	-99.92%	-47.53%	-52.39%
Average Drawdown Average peak-to-trough decline	-72.59%	-50.69%	-21.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	83.56%	18.88%	+64.68%

Volatility

GDXD vs. OILU - Volatility Comparison

MicroSectors Gold Miners -3X Inverse Leveraged ETNs due June 29, 2040 (GDXD) has a higher volatility of 40.76% compared to MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) at 19.22%. This indicates that GDXD's price experiences larger fluctuations and is considered to be riskier than OILU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDXD	OILU	Difference
Volatility (1M) Calculated over the trailing 1-month period	40.76%	19.22%	+21.54%
Volatility (6M) Calculated over the trailing 6-month period	118.25%	51.99%	+66.26%
Volatility (1Y) Calculated over the trailing 1-year period	146.68%	64.36%	+82.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	112.62%	80.80%	+31.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	110.97%	80.80%	+30.17%

GDXD vs. OILU - Expense Ratio Comparison

Both GDXD and OILU have an expense ratio of 0.95%.

Dividends

GDXD vs. OILU - Dividend Comparison

Neither GDXD nor OILU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GDXD and OILU in my portfolio?

GDXD and OILU have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GDXD or OILU?

GDXD has higher volatility (40.76%) compared to OILU (19.22%). In terms of maximum drawdown, GDXD dropped -99.96% vs OILU's -81.00%.

Which ETF is better, GDXD or OILU?

On 3-year performance, OILU leads with 1.15% vs -83.55% for GDXD. Both ETFs have the same 0.95% expense ratio. On volatility, OILU has been the lower-risk option at 19.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GDXD or OILU?

Over the 3-year period, OILU has performed better with a 1.15% return vs -83.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GDXD or OILU?

GDXD and OILU have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, GDXD or OILU?

GDXD and OILU have nearly identical dividend yields, around 0.00%.

What is the main difference between GDXD and OILU?

GDXD is categorized as Inverse Equities, while OILU is Leveraged Equities. GDXD tracks S-Network MicroSectors Gold Miners Index, while OILU tracks Solactive MicroSectors Oil & Gas Exploration & Production Index.

Which has better risk-adjusted returns?

OILU currently has the higher Sharpe Ratio (1.50 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.