GDXU.TO vs. XGD.TO
GDXU.TO (BetaPro Canadian Gold Miners 2x Daily Bull ETF) and XGD.TO (iShares S&P/TSX Global Gold Index ETF) are both exchange-traded funds - GDXU.TO is a Leveraged Equities fund actively managed by Global X, while XGD.TO is a Gold fund tracking the S&P/TSX Global Gold Index. GDXU.TO is actively managed, while XGD.TO is passively managed. Over the past 10 years, GDXU.TO returned 7.93%/yr vs 11.10%/yr for XGD.TO. With a 0.99 correlation, they move nearly in lockstep.
Performance
GDXU.TO vs. XGD.TO - Performance Comparison
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Returns By Period
In the year-to-date period, GDXU.TO achieves a -41.07% return, which is significantly lower than XGD.TO's -13.37% return. Over the past 10 years, GDXU.TO has underperformed XGD.TO with an annualized return of 7.93%, while XGD.TO has yielded a comparatively higher 11.10% annualized return.
GDXU.TO
- 1D
- -0.37%
- 1M
- -34.20%
- 6M
- -53.67%
- YTD
- -41.07%
- 1Y
- 68.23%
- 3Y*
- 64.97%
- 5Y*
- 29.33%
- 10Y*
- 7.93%
XGD.TO
- 1D
- -0.59%
- 1M
- -17.06%
- 6M
- -24.69%
- YTD
- -13.37%
- 1Y
- 43.77%
- 3Y*
- 34.85%
- 5Y*
- 20.11%
- 10Y*
- 11.10%
GDXU.TO vs. XGD.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GDXU.TO BetaPro Canadian Gold Miners 2x Daily Bull ETF | -41.07% | 432.04% | 49.04% | 1.08% | -13.97% | -26.64% | 17.12% | 83.28% | -19.95% | -12.53% |
XGD.TO iShares S&P/TSX Global Gold Index ETF | -13.37% | 144.45% | 19.63% | 3.91% | -3.13% | -5.81% | 21.10% | 40.18% | -4.10% | 0.96% |
Correlation
The correlation between GDXU.TO and XGD.TO is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2007 | 0.99 |
The correlation between GDXU.TO and XGD.TO has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
GDXU.TO vs. XGD.TO — Risk / Return Rank
GDXU.TO
XGD.TO
GDXU.TO vs. XGD.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BetaPro Canadian Gold Miners 2x Daily Bull ETF (GDXU.TO) and iShares S&P/TSX Global Gold Index ETF (XGD.TO). 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.
| GDXU.TO | XGD.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.19 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.05 | 1.23 | -0.18 |
| Martin ratioReturn relative to average drawdown | 2.34 | 2.93 | -0.59 |
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Drawdowns
GDXU.TO vs. XGD.TO - Drawdown Comparison
The maximum GDXU.TO drawdown since its inception was -98.01%, which is greater than XGD.TO's maximum drawdown of -72.56%. Use the drawdown chart below to compare losses from any high point for GDXU.TO and XGD.TO.
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Drawdown Indicators
| GDXU.TO | XGD.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.01% | -72.56% | -25.45% |
Max Drawdown (1Y)Largest decline over 1 year | -65.49% | -35.86% | -29.63% |
Max Drawdown (3Y)Largest decline over 3 years | -65.49% | -35.86% | -29.63% |
Max Drawdown (5Y)Largest decline over 5 years | -65.49% | -40.82% | -24.67% |
Max Drawdown (10Y)Largest decline over 10 years | -79.29% | -46.96% | -32.33% |
Current DrawdownCurrent decline from peak | -65.49% | -35.86% | -29.63% |
Average DrawdownAverage peak-to-trough decline | -78.28% | -32.01% | -46.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.26% | 14.96% | +14.30% |
Volatility
GDXU.TO vs. XGD.TO - Volatility Comparison
BetaPro Canadian Gold Miners 2x Daily Bull ETF (GDXU.TO) has a higher volatility of 24.38% compared to iShares S&P/TSX Global Gold Index ETF (XGD.TO) at 10.67%. This indicates that GDXU.TO's price experiences larger fluctuations and is considered to be riskier than XGD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GDXU.TO | XGD.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.38% | 10.67% | +13.71% |
Volatility (6M)Calculated over the trailing 6-month period | 77.49% | 37.08% | +40.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 93.13% | 45.51% | +47.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.63% | 33.30% | +35.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 67.38% | 33.55% | +33.83% |
Dividends
GDXU.TO vs. XGD.TO - Dividend Comparison
GDXU.TO has not paid dividends to shareholders, while XGD.TO's dividend yield for the trailing twelve months is around 0.95%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GDXU.TO BetaPro Canadian Gold Miners 2x Daily Bull ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XGD.TO iShares S&P/TSX Global Gold Index ETF | 0.95% | 0.62% | 0.93% | 1.49% | 1.77% | 1.38% | 0.35% | 0.54% | 0.25% | 0.14% | 0.10% | 0.57% |
Frequently Asked Questions
With a correlation of 0.99, GDXU.TO and XGD.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
GDXU.TO is categorized as Leveraged Equities, while XGD.TO is Gold. They also come from different issuers: Global X and iShares.
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