GDXD vs. SGDJ

Last updated Aug 2, 2026

GDXD (MicroSectors Gold Miners -3X Inverse Leveraged ETNs due June 29, 2040) and SGDJ (Sprott Junior Gold Miners ETF) are both exchange-traded funds - GDXD is a Inverse Equities fund tracking the S-Network MicroSectors Gold Miners Index, while SGDJ is a Gold fund tracking the Solactive Junior Gold Miners Custom Factors Index. Both are passively managed. Over the past 5 years, GDXD returned -73.29%/yr vs 15.51%/yr for SGDJ. Their -0.94 correlation means they have often moved in opposite directions in the past. GDXD charges 0.95%/yr vs 0.50%/yr for SGDJ.

Performance

GDXD vs. SGDJ - 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 Sprott Junior Gold Miners ETF (SGDJ). 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 SGDJ's -13.16% 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%

SGDJ

• 1D: -3.30%
• 1M: -6.88%
• 6M: -20.87%
• YTD: -13.16%
• 1Y: 63.65%
• 3Y*: 44.64%
• 5Y*: 15.51%
• 10Y*: 7.27%
• ALL TIME*: 13.03%

*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
SGDJ Sprott Junior Gold Miners ETF	$3.18M	$3.46M	$5.06M

GDXD vs. SGDJ - 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%
SGDJ Sprott Junior Gold Miners ETF	-13.16%	174.44%	19.35%	6.66%	-27.60%	-15.12%	4.20%

Correlation

The correlation between GDXD and SGDJ is -0.95, 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.	-0.95
Correlation (3Y) Balances recent behavior with more history.	-0.94
Correlation (5Y) Shows whether the relationship held over a longer period.	-0.94
Correlation (All Time) Calculated using the full available price history since Dec 3, 2020	-0.94

The correlation between GDXD and SGDJ has been stable across timeframes, ranging from -0.95 to -0.94 - a consistent structural relationship.

GDXD vs. SGDJ - Sectors Allocation Comparison

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

Return for Risk

GDXD vs. SGDJ — 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

SGDJ

SGDJ Risk / Return Rank: 48
SGDJ Sharpe Ratio Rank: 54
SGDJ Sortino Ratio Rank: 48
SGDJ Omega Ratio Rank: 51
SGDJ Calmar Ratio Rank: 49
SGDJ Martin Ratio Rank: 36

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. SGDJ - 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 Sprott Junior Gold Miners ETF (SGDJ). 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	SGDJ	Difference
Sharpe ratio: Return per unit of total volatility	-0.63	1.28	-1.91
Sortino ratio: Return per unit of downside risk	-1.50	1.70	-3.20
Omega ratio: Gain probability vs. loss probability	0.84	1.23	-0.39
Calmar ratio: Return relative to maximum drawdown	-0.96	1.77	-2.73
Martin ratio: Return relative to average drawdown	-1.11	3.70	-4.81

GDXD vs. SGDJ - Sharpe Ratio Comparison

The current GDXD Sharpe Ratio is -0.63, which is lower than the SGDJ Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of GDXD and SGDJ, 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. SGDJ - Drawdown Comparison

The maximum GDXD drawdown since its inception was -99.96%, which is greater than SGDJ's maximum drawdown of -59.27%. Use the drawdown chart below to compare losses from any high point for GDXD and SGDJ.

Drawdown Indicators

	GDXD	SGDJ	Difference
Max Drawdown Largest peak-to-trough decline	-99.96%	-59.27%	-40.69%
Max Drawdown (1Y) Largest decline over 1 year	-95.95%	-37.98%	-57.97%
Max Drawdown (3Y) Largest decline over 3 years	-99.86%	-37.98%	-61.88%
Max Drawdown (5Y) Largest decline over 5 years	-99.96%	-52.66%	-47.30%
Max Drawdown (10Y) Largest decline over 10 years	—	-59.20%	—
Current Drawdown Current decline from peak	-99.92%	-36.68%	-63.24%
Average Drawdown Average peak-to-trough decline	-72.59%	-26.33%	-46.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	83.56%	18.10%	+65.46%

Volatility

GDXD vs. SGDJ - Volatility Comparison

MicroSectors Gold Miners -3X Inverse Leveraged ETNs due June 29, 2040 (GDXD) has a higher volatility of 40.76% compared to Sprott Junior Gold Miners ETF (SGDJ) at 14.35%. This indicates that GDXD's price experiences larger fluctuations and is considered to be riskier than SGDJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDXD	SGDJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	40.76%	14.35%	+26.41%
Volatility (6M) Calculated over the trailing 6-month period	118.25%	42.31%	+75.94%
Volatility (1Y) Calculated over the trailing 1-year period	146.68%	52.29%	+94.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	112.62%	41.27%	+71.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	110.97%	40.90%	+70.07%

GDXD vs. SGDJ - Expense Ratio Comparison

GDXD has a 0.95% expense ratio, which is higher than SGDJ's 0.50% expense ratio.

Dividends

GDXD vs. SGDJ - Dividend Comparison

GDXD has not paid dividends to shareholders, while SGDJ's dividend yield for the trailing twelve months is around 9.64%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%
SGDJ Sprott Junior Gold Miners ETF	9.64%	8.37%	6.55%	4.55%	2.46%	2.20%	1.97%	0.65%	0.00%	0.14%	1.77%	0.85%

Frequently Asked Questions

Can I hold both GDXD and SGDJ in my portfolio?

GDXD and SGDJ have a correlation of -0.95, 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 SGDJ?

GDXD has higher volatility (40.76%) compared to SGDJ (14.35%). In terms of maximum drawdown, GDXD dropped -99.96% vs SGDJ's -59.27%.

Which ETF is better, GDXD or SGDJ?

On 5-year performance, SGDJ leads with 15.51% vs -73.29% for GDXD. On fees, SGDJ is cheaper at 0.50% per year. On volatility, SGDJ has been the lower-risk option at 14.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GDXD or SGDJ?

Over the 5-year period, SGDJ has performed better with a 15.51% return vs -73.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GDXD or SGDJ?

SGDJ is cheaper with a 0.50% expense ratio, compared with 0.95% for GDXD.

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

SGDJ has the higher dividend yield at 9.64%, compared with 0.00% for GDXD.

What is the main difference between GDXD and SGDJ?

GDXD is categorized as Inverse Equities, while SGDJ is Gold. GDXD tracks S-Network MicroSectors Gold Miners Index, while SGDJ tracks Solactive Junior Gold Miners Custom Factors Index. They also come from different issuers: BMO and Sprott. Their fees differ too: 0.95% for GDXD and 0.50% for SGDJ.

Which has better risk-adjusted returns?

SGDJ currently has the higher Sharpe Ratio (1.28 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.