GDXU vs. BTC-USD
GDXU (MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040) is Leveraged Equities fund tracking the S-Network MicroSectors Gold Miners Index, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 5 years, GDXU returned -13.05%/yr vs 13.96%/yr for BTC-USD. At a 0.16 correlation, their price movements are largely independent.
Performance
GDXU vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, GDXU achieves a -66.09% return, which is significantly lower than BTC-USD's -30.61% return.
GDXU
- 1D
- -12.30%
- 1M
- -41.51%
- YTD
- -66.09%
- 6M
- -70.80%
- 1Y
- 14.54%
- 3Y*
- 31.96%
- 5Y*
- -13.05%
- 10Y*
- —
BTC-USD
- 1D
- -3.08%
- 1M
- -21.40%
- YTD
- -30.61%
- 6M
- -30.69%
- 1Y
- -42.79%
- 3Y*
- 25.82%
- 5Y*
- 13.96%
- 10Y*
- 57.69%
GDXU vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GDXU MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 | -66.09% | 796.47% | -18.60% | -21.36% | -62.82% | -54.93% | 4.32% |
BTC-USD Bitcoin | -30.61% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 50.79% |
Correlation
The correlation between GDXU and BTC-USD is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2020 | 0.16 |
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Return for Risk
GDXU vs. BTC-USD — Risk / Return Rank
GDXU
BTC-USD
GDXU vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 (GDXU) and Bitcoin (BTC-USD). 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 | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.10 | ||
| Sortino ratioReturn per unit of downside risk | +2.61 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 0.85 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 0.17 | -0.83 | +1.01 |
| Martin ratioReturn relative to average drawdown | 0.36 | -1.40 | +1.76 |
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Drawdowns
GDXU vs. BTC-USD - Drawdown Comparison
The maximum GDXU drawdown since its inception was -94.39%, which is greater than BTC-USD's maximum drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for GDXU and BTC-USD.
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Drawdown Indicators
| GDXU | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.39% | -85.30% | -9.09% |
Max Drawdown (1Y)Largest decline over 1 year | -84.26% | -51.32% | -32.94% |
Max Drawdown (3Y)Largest decline over 3 years | -84.26% | -51.32% | -32.94% |
Max Drawdown (5Y)Largest decline over 5 years | -91.30% | -76.67% | -14.63% |
Max Drawdown (10Y)Largest decline over 10 years | — | -83.80% | — |
Current DrawdownCurrent decline from peak | -84.26% | -51.32% | -32.94% |
Average DrawdownAverage peak-to-trough decline | -69.81% | -42.41% | -27.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 40.46% | 31.43% | +9.03% |
Volatility
GDXU vs. BTC-USD - Volatility Comparison
MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 (GDXU) has a higher volatility of 56.27% compared to Bitcoin (BTC-USD) at 12.46%. This indicates that GDXU's price experiences larger fluctuations and is considered to be riskier than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GDXU | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 56.27% | 12.46% | +43.81% |
Volatility (6M)Calculated over the trailing 6-month period | 126.69% | 34.72% | +91.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 144.88% | 35.61% | +109.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 112.55% | 44.27% | +68.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 111.34% | 56.41% | +54.93% |
Frequently Asked Questions
GDXU and BTC-USD have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDXU has higher volatility (56.27%) compared to BTC-USD (12.46%). In terms of maximum drawdown, GDXU dropped -94.39% vs BTC-USD's -85.30%.
GDXU currently has the higher Sharpe Ratio (0.10 vs -1.00), 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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