GDXU vs. CSHP
GDXU (MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - GDXU is a Leveraged Equities fund tracking the S-Network MicroSectors Gold Miners Index, while CSHP is a Ultrashort Bond fund actively managed by iShares. GDXU is passively managed, while CSHP is actively managed. Over the past year, GDXU returned 47.73% vs 3.96% for CSHP. At a 0.02 correlation, their price movements are largely independent. GDXU charges 0.95%/yr vs 0.20%/yr for CSHP.
Performance
GDXU vs. CSHP - Performance Comparison
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Returns By Period
In the year-to-date period, GDXU achieves a -54.87% return, which is significantly lower than CSHP's 1.86% return.
GDXU
- 1D
- -3.77%
- 1M
- -22.15%
- YTD
- -54.87%
- 6M
- -61.87%
- 1Y
- 47.73%
- 3Y*
- 45.15%
- 5Y*
- -8.03%
- 10Y*
- —
CSHP
- 1D
- -0.01%
- 1M
- 0.30%
- YTD
- 1.86%
- 6M
- 1.93%
- 1Y
- 3.96%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GDXU vs. CSHP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GDXU MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 | -54.87% | 796.47% | -42.90% |
CSHP iShares Enhanced Short-Term Bond Active ETF | 1.86% | 4.10% | 2.24% |
Correlation
The correlation between GDXU and CSHP is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2024 | 0.02 |
The correlation between GDXU and CSHP shifts across timeframes, from -0.09 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GDXU vs. CSHP — Risk / Return Rank
GDXU
CSHP
GDXU vs. CSHP - 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 iShares Enhanced Short-Term Bond Active ETF (CSHP). 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 | CSHP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -10.89 | ||
| Sortino ratioReturn per unit of downside risk | -26.90 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 6.67 | -5.48 |
| Calmar ratioReturn relative to maximum drawdown | 0.57 | 65.84 | -65.27 |
| Martin ratioReturn relative to average drawdown | 1.20 | 395.75 | -394.55 |
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Drawdowns
GDXU vs. CSHP - Drawdown Comparison
The maximum GDXU drawdown since its inception was -94.39%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for GDXU and CSHP.
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Drawdown Indicators
| GDXU | CSHP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.39% | -0.08% | -94.31% |
Max Drawdown (1Y)Largest decline over 1 year | -83.97% | -0.06% | -83.91% |
Max Drawdown (3Y)Largest decline over 3 years | -83.97% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -91.30% | — | — |
Current DrawdownCurrent decline from peak | -79.05% | -0.01% | -79.04% |
Average DrawdownAverage peak-to-trough decline | -69.79% | -0.00% | -69.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 39.79% | 0.01% | +39.78% |
Volatility
GDXU vs. CSHP - Volatility Comparison
MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 (GDXU) has a higher volatility of 53.36% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.15%. This indicates that GDXU's price experiences larger fluctuations and is considered to be riskier than CSHP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GDXU | CSHP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 53.36% | 0.15% | +53.21% |
Volatility (6M)Calculated over the trailing 6-month period | 125.48% | 0.27% | +125.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 143.87% | 0.36% | +143.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 112.23% | 0.41% | +111.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 111.12% | 0.41% | +110.71% |
GDXU vs. CSHP - Expense Ratio Comparison
GDXU has a 0.95% expense ratio, which is higher than CSHP's 0.20% expense ratio.
Dividends
GDXU vs. CSHP - Dividend Comparison
GDXU has not paid dividends to shareholders, while CSHP's dividend yield for the trailing twelve months is around 3.91%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
CSHP iShares Enhanced Short-Term Bond Active ETF | 3.91% | 5.39% | 1.96% |
GDXU MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GDXU and CSHP have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDXU has higher volatility (53.36%) compared to CSHP (0.15%). In terms of maximum drawdown, GDXU dropped -94.39% vs CSHP's -0.08%.
On 1-year performance, GDXU leads with 47.73% vs 3.96% for CSHP. On fees, CSHP is cheaper at 0.20% per year. On volatility, CSHP has been the lower-risk option at 0.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GDXU has performed better with a 47.73% return vs 3.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CSHP is cheaper with a 0.20% expense ratio, compared with 0.95% for GDXU.
CSHP has the higher dividend yield at 3.91%, compared with 0.00% for GDXU.
GDXU is categorized as Leveraged Equities, while CSHP is Ultrashort Bond. They also come from different issuers: BMO and iShares. Their fees differ too: 0.95% for GDXU and 0.20% for CSHP.
CSHP currently has the higher Sharpe Ratio (11.22 vs 0.33), 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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