GDXD vs. SHNY
GDXD (MicroSectors Gold Miners -3X Inverse Leveraged ETNs due June 29, 2040) and SHNY (MicroSectors Gold 3X Leveraged ETN) are both exchange-traded funds - GDXD is a Inverse Equities fund tracking the S-Network MicroSectors Gold Miners Index, while SHNY is a Leveraged Commodities fund tracking the SPDR Gold Shares ETF (GLD). Both are passively managed. Over the past 3 years, GDXD returned -83.55%/yr vs 44.79%/yr for SHNY. Their -0.81 correlation means they have often moved in opposite directions in the past. Both charge a 0.95% expense ratio.
Performance
GDXD vs. SHNY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GDXD achieves a -42.32% return, which is significantly lower than SHNY's -39.40% 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%
SHNY
- 1D
- -4.58%
- 1M
- -7.48%
- 6M
- -54.00%
- YTD
- -39.40%
- 1Y
- 10.61%
- 3Y*
- 44.79%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 40.02%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $19.58M | $21.95M | $29.87M | |
| $5.61M | $4.51M | $6.08M |
GDXD vs. SHNY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GDXD MicroSectors Gold Miners -3X Inverse Leveraged ETNs due June 29, 2040 | -42.32% | -97.53% | -57.78% | -52.68% |
SHNY MicroSectors Gold 3X Leveraged ETN | -39.40% | 214.54% | 50.30% | 10.98% |
Correlation
The correlation between GDXD and SHNY is -0.82, 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. | -0.82 |
Correlation (3Y) Balances recent behavior with more history. | -0.81 |
Correlation (All Time) Calculated using the full available price history since Feb 22, 2023 | -0.81 |
The correlation between GDXD and SHNY has been stable across timeframes, ranging from -0.82 to -0.81 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GDXD vs. SHNY — Risk / Return Rank
GDXD
SHNY
GDXD vs. SHNY - 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 Gold 3X Leveraged ETN (SHNY). 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 | SHNY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.84 | ||
| Sortino ratioReturn per unit of downside risk | -2.33 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.12 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | 0.25 | -1.21 |
| Martin ratioReturn relative to average drawdown | -1.11 | 0.47 | -1.59 |
Loading charts...
Drawdowns
GDXD vs. SHNY - Drawdown Comparison
The maximum GDXD drawdown since its inception was -99.96%, which is greater than SHNY's maximum drawdown of -69.36%. Use the drawdown chart below to compare losses from any high point for GDXD and SHNY.
Loading charts...
Drawdown Indicators
| GDXD | SHNY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.96% | -69.36% | -30.60% |
Max Drawdown (1Y)Largest decline over 1 year | -95.95% | -69.36% | -26.59% |
Max Drawdown (3Y)Largest decline over 3 years | -99.86% | -69.36% | -30.50% |
Max Drawdown (5Y)Largest decline over 5 years | -99.96% | — | — |
Current DrawdownCurrent decline from peak | -99.92% | -68.12% | -31.80% |
Average DrawdownAverage peak-to-trough decline | -72.59% | -17.26% | -55.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 83.56% | 36.30% | +47.26% |
Volatility
GDXD vs. SHNY - Volatility Comparison
MicroSectors Gold Miners -3X Inverse Leveraged ETNs due June 29, 2040 (GDXD) has a higher volatility of 40.76% compared to MicroSectors Gold 3X Leveraged ETN (SHNY) at 19.06%. This indicates that GDXD's price experiences larger fluctuations and is considered to be riskier than SHNY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GDXD | SHNY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 40.76% | 19.06% | +21.70% |
Volatility (6M)Calculated over the trailing 6-month period | 118.25% | 71.92% | +46.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 146.68% | 83.26% | +63.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 112.62% | 59.47% | +53.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 110.97% | 59.47% | +51.50% |
GDXD vs. SHNY - Expense Ratio Comparison
Both GDXD and SHNY have an expense ratio of 0.95%.
Dividends
GDXD vs. SHNY - Dividend Comparison
Neither GDXD nor SHNY has paid dividends to shareholders.
Frequently Asked Questions
GDXD and SHNY have a correlation of -0.82, 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 SHNY (19.06%). In terms of maximum drawdown, GDXD dropped -99.96% vs SHNY's -69.36%.
On 3-year performance, SHNY leads with 44.79% vs -83.55% for GDXD. Both ETFs have the same 0.95% expense ratio. On volatility, SHNY has been the lower-risk option at 19.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SHNY has performed better with a 44.79% return vs -83.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GDXD and SHNY have the same expense ratio: 0.95% per year.
GDXD and SHNY have nearly identical dividend yields, around 0.00%.
GDXD is categorized as Inverse Equities, while SHNY is Leveraged Commodities. GDXD tracks S-Network MicroSectors Gold Miners Index, while SHNY tracks SPDR Gold Shares ETF (GLD).
SHNY currently has the higher Sharpe Ratio (0.21 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.
Find the right allocation for GDXD and SHNY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer