GDXD vs. SLVR
GDXD (MicroSectors Gold Miners -3X Inverse Leveraged ETNs) and SLVR (Sprott Silver Miners & Physical Silver ETF) are both exchange-traded funds - GDXD is a Inverse Equities fund tracking the S-Network MicroSectors Gold Miners Index - Benchmark TR Gross (-300%), while SLVR is a Silver fund tracking the Nasdaq Sprott Silver Miners™ Index. Both are passively managed. Over the past year, GDXD returned -93.08% vs 118.11% for SLVR. At a correlation of -0.87, they often move in opposite directions. GDXD charges 0.95%/yr vs 0.65%/yr for SLVR.
Performance
GDXD vs. SLVR - Performance Comparison
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Returns By Period
In the year-to-date period, GDXD achieves a -51.20% return, which is significantly lower than SLVR's 6.80% return.
GDXD
- 1D
- 10.76%
- 1M
- -10.12%
- YTD
- -51.20%
- 6M
- -62.62%
- 1Y
- -93.08%
- 3Y*
- -84.24%
- 5Y*
- -72.73%
- 10Y*
- —
SLVR
- 1D
- -5.47%
- 1M
- 1.96%
- YTD
- 6.80%
- 6M
- 18.93%
- 1Y
- 118.11%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GDXD vs. SLVR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GDXD MicroSectors Gold Miners -3X Inverse Leveraged ETNs | -51.20% | -96.80% |
SLVR Sprott Silver Miners & Physical Silver ETF | 6.80% | 170.44% |
Correlation
The correlation between GDXD and SLVR is -0.88, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.88 |
Correlation (All Time) Calculated using the full available price history since Jan 16, 2025 | -0.87 |
The correlation between GDXD and SLVR has been stable across timeframes, ranging from -0.88 to -0.87 - a consistent structural relationship.
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Return for Risk
GDXD vs. SLVR — Risk / Return Rank
GDXD
SLVR
GDXD vs. SLVR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors Gold Miners -3X Inverse Leveraged ETNs (GDXD) and Sprott Silver Miners & Physical Silver ETF (SLVR). 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.
| GDXD | SLVR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.61 | ||
| Sortino ratioReturn per unit of downside risk | -4.13 | ||
| Omega ratioGain probability vs. loss probability | 0.80 | 1.31 | -0.50 |
| Calmar ratioReturn relative to maximum drawdown | -0.97 | 3.08 | -4.04 |
| Martin ratioReturn relative to average drawdown | -1.22 | 7.66 | -8.89 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GDXD | SLVR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.68 | 1.93 | -2.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.66 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.67 | 2.02 | -2.68 |
Drawdowns
GDXD vs. SLVR - Drawdown Comparison
The maximum GDXD drawdown since its inception was -99.96%, which is greater than SLVR's maximum drawdown of -38.60%. Use the drawdown chart below to compare losses from any high point for GDXD and SLVR.
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Drawdown Indicators
| GDXD | SLVR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.96% | -38.60% | -61.36% |
Max Drawdown (1Y)Largest decline over 1 year | -96.33% | -38.60% | -57.73% |
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 | -99.93% | -28.51% | -71.42% |
Average DrawdownAverage peak-to-trough decline | -71.85% | -9.24% | -62.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 75.91% | 15.47% | +60.44% |
Volatility
GDXD vs. SLVR - Volatility Comparison
MicroSectors Gold Miners -3X Inverse Leveraged ETNs (GDXD) has a higher volatility of 47.44% compared to Sprott Silver Miners & Physical Silver ETF (SLVR) at 19.31%. This indicates that GDXD's price experiences larger fluctuations and is considered to be riskier than SLVR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GDXD | SLVR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 47.44% | 19.31% | +28.13% |
Volatility (6M)Calculated over the trailing 6-month period | 109.86% | 51.02% | +58.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 136.25% | 61.64% | +74.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 109.97% | 57.85% | +52.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 109.35% | 57.85% | +51.50% |
GDXD vs. SLVR - Expense Ratio Comparison
GDXD has a 0.95% expense ratio, which is higher than SLVR's 0.65% expense ratio.
Dividends
GDXD vs. SLVR - Dividend Comparison
GDXD has not paid dividends to shareholders, while SLVR's dividend yield for the trailing twelve months is around 3.45%.
| Position | TTM | 2025 |
|---|---|---|
GDXD MicroSectors Gold Miners -3X Inverse Leveraged ETNs | 0.00% | 0.00% |
SLVR Sprott Silver Miners & Physical Silver ETF | 3.45% | 3.68% |
Frequently Asked Questions
GDXD and SLVR have a correlation of -0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDXD has higher volatility (47.44%) compared to SLVR (19.31%). In terms of maximum drawdown, GDXD dropped -99.96% vs SLVR's -38.60%.
On 1-year performance, SLVR leads with 118.11% vs -93.08% for GDXD. On fees, SLVR is cheaper at 0.65% per year. On volatility, SLVR has been the lower-risk option at 19.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SLVR has performed better with a 118.11% return vs -93.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SLVR is cheaper with a 0.65% expense ratio, compared with 0.95% for GDXD.
SLVR has the higher dividend yield at 3.45%, compared with 0.00% for GDXD.
GDXD is categorized as Inverse Equities, while SLVR is Silver. GDXD tracks S-Network MicroSectors Gold Miners Index - Benchmark TR Gross (-300%), while SLVR tracks Nasdaq Sprott Silver Miners™ Index. They also come from different issuers: BMO and Sprott. Their fees differ too: 0.95% for GDXD and 0.65% for SLVR.
SLVR currently has the higher Sharpe Ratio (1.93 vs -0.68), 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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