GDXD vs. TSLQ

Last updated Jun 24, 2026

GDXD (MicroSectors Gold Miners -3X Inverse Leveraged ETNs) and TSLQ (Tradr 2X Short TSLA Daily ETF) are both Inverse Equities funds. GDXD is passively managed, while TSLQ is actively managed. Over the past 3 years, GDXD returned -84.34%/yr vs -64.10%/yr for TSLQ. At a 0.15 correlation, their price movements are largely independent. GDXD charges 0.95%/yr vs 1.17%/yr for TSLQ.

Performance

GDXD vs. TSLQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Gold Miners -3X Inverse Leveraged ETNs (GDXD) and Tradr 2X Short TSLA Daily ETF (TSLQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GDXD achieves a -44.09% return, which is significantly lower than TSLQ's 13.60% return.

GDXD

• 1D: 14.60%
• 1M: 10.85%
• YTD: -44.09%
• 6M: -36.28%
• 1Y: -92.07%
• 3Y*: -84.34%
• 5Y*: -73.69%
• 10Y*: —

TSLQ

• 1D: 11.57%
• 1M: 18.36%
• YTD: 13.60%
• 6M: 31.99%
• 1Y: -49.38%
• 3Y*: -64.10%
• 5Y*: —
• 10Y*: —

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

GDXD vs. TSLQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GDXD MicroSectors Gold Miners -3X Inverse Leveraged ETNs	-44.09%	-97.53%	-57.78%	-52.35%	-56.88%
TSLQ Tradr 2X Short TSLA Daily ETF	13.60%	-74.67%	-83.21%	-59.97%	61.04%

Correlation

The correlation between GDXD and TSLQ is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (All Time) Calculated using the full available price history since Jul 14, 2022	0.15

The correlation between GDXD and TSLQ shifts across timeframes, from 0.15 (all time) to 0.29 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

GDXD vs. TSLQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GDXD

GDXD Risk / Return Rank: 2
GDXD Sharpe Ratio Rank: 4
GDXD Sortino Ratio Rank: 1
GDXD Omega Ratio Rank: 2
GDXD Calmar Ratio Rank: 1
GDXD Martin Ratio Rank: 3

TSLQ

TSLQ Risk / Return Rank: 5
TSLQ Sharpe Ratio Rank: 4
TSLQ Sortino Ratio Rank: 5
TSLQ Omega Ratio Rank: 5
TSLQ Calmar Ratio Rank: 3
TSLQ Martin Ratio Rank: 5

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GDXD vs. TSLQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Gold Miners -3X Inverse Leveraged ETNs (GDXD) and Tradr 2X Short TSLA Daily ETF (TSLQ). 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	TSLQ	Difference
Sharpe ratio: Return per unit of total volatility	-0.64	-0.56	-0.08
Sortino ratio: Return per unit of downside risk	-1.57	-0.47	-1.10
Omega ratio: Gain probability vs. loss probability	0.83	0.95	-0.11
Calmar ratio: Return relative to maximum drawdown	-0.96	-0.69	-0.27
Martin ratio: Return relative to average drawdown	-1.17	-0.88	-0.29

GDXD vs. TSLQ - Sharpe Ratio Comparison

The current GDXD Sharpe Ratio is -0.64, which is comparable to the TSLQ Sharpe Ratio of -0.56. The chart below compares the historical Sharpe Ratios of GDXD and TSLQ, 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. TSLQ - Drawdown Comparison

The maximum GDXD drawdown since its inception was -99.96%, roughly equal to the maximum TSLQ drawdown of -98.73%. Use the drawdown chart below to compare losses from any high point for GDXD and TSLQ.

Drawdown Indicators

	GDXD	TSLQ	Difference
Max Drawdown Largest peak-to-trough decline	-99.96%	-98.73%	-1.23%
Max Drawdown (1Y) Largest decline over 1 year	-96.33%	-72.21%	-24.12%
Max Drawdown (3Y) Largest decline over 3 years	-99.86%	-97.85%	-2.01%
Max Drawdown (5Y) Largest decline over 5 years	-99.96%	—	—
Current Drawdown Current decline from peak	-99.92%	-98.31%	-1.61%
Average Drawdown Average peak-to-trough decline	-72.06%	-67.61%	-4.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	78.80%	56.23%	+22.57%

Volatility

GDXD vs. TSLQ - Volatility Comparison

MicroSectors Gold Miners -3X Inverse Leveraged ETNs (GDXD) has a higher volatility of 53.31% compared to Tradr 2X Short TSLA Daily ETF (TSLQ) at 27.76%. This indicates that GDXD's price experiences larger fluctuations and is considered to be riskier than TSLQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDXD	TSLQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	53.31%	27.76%	+25.55%
Volatility (6M) Calculated over the trailing 6-month period	117.73%	56.68%	+61.05%
Volatility (1Y) Calculated over the trailing 1-year period	143.27%	89.33%	+53.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	111.54%	94.31%	+17.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	110.62%	94.31%	+16.31%

GDXD vs. TSLQ - Expense Ratio Comparison

GDXD has a 0.95% expense ratio, which is lower than TSLQ's 1.17% expense ratio.

Dividends

GDXD vs. TSLQ - Dividend Comparison

GDXD has not paid dividends to shareholders, while TSLQ's dividend yield for the trailing twelve months is around 9.30%.

Position	TTM	2025	2024	2023	2022
GDXD MicroSectors Gold Miners -3X Inverse Leveraged ETNs	0.00%	0.00%	0.00%	0.00%	0.00%
TSLQ Tradr 2X Short TSLA Daily ETF	9.30%	10.56%	4.95%	13.35%	2.56%

Frequently Asked Questions

Can I hold both GDXD and TSLQ in my portfolio?

GDXD and TSLQ have a correlation of 0.29, 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 TSLQ?

GDXD has higher volatility (53.31%) compared to TSLQ (27.76%). In terms of maximum drawdown, GDXD dropped -99.96% vs TSLQ's -98.73%.

Which ETF is better, GDXD or TSLQ?

On 3-year performance, TSLQ leads with -64.10% vs -84.34% for GDXD. On fees, GDXD is cheaper at 0.95% per year. On volatility, TSLQ has been the lower-risk option at 27.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GDXD or TSLQ?

Over the 3-year period, TSLQ has performed better with a -64.10% return vs -84.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GDXD or TSLQ?

GDXD is cheaper with a 0.95% expense ratio, compared with 1.17% for TSLQ.

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

TSLQ has the higher dividend yield at 9.30%, compared with 0.00% for GDXD.

What is the main difference between GDXD and TSLQ?

They also come from different issuers: BMO and Tradr. Their fees differ too: 0.95% for GDXD and 1.17% for TSLQ.

Which has better risk-adjusted returns?

TSLQ currently has the higher Sharpe Ratio (-0.56 vs -0.64), 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.