GDXU vs. DXMO.TO

Last updated Apr 2, 2026

Compare and contrast key facts about MicroSectors Gold Miners 3X Leveraged ETN (GDXU) and Dynamic Active Mining Opportunities ETF (DXMO.TO).

GDXU and DXMO.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GDXU is a passively managed fund by BMO that tracks the performance of the S-Network MicroSectors Gold Miners Index. It was launched on Dec 2, 2020. DXMO.TO is an actively managed fund by Dynamic. It was launched on Jul 2, 2024.

Performance

GDXU vs. DXMO.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Gold Miners 3X Leveraged ETN (GDXU) and Dynamic Active Mining Opportunities ETF (DXMO.TO). The values are adjusted to include any dividend payments, if applicable.

GDXU vs. DXMO.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GDXU MicroSectors Gold Miners 3X Leveraged ETN	-6.09%	796.47%	-27.03%
DXMO.TO Dynamic Active Mining Opportunities ETF	5.48%	97.46%	-14.09%

Different Trading Currencies

GDXU is traded in USD, while DXMO.TO is traded in CAD. To make them comparable, the DXMO.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, GDXU achieves a -6.09% return, which is significantly lower than DXMO.TO's 5.48% return.

GDXU

• 1D: 13.62%
• 1M: -51.51%
• YTD: -6.09%
• 6M: 8.92%
• 1Y: 287.76%
• 3Y*: 63.33%
• 5Y*: 6.19%
• 10Y*: —

DXMO.TO

• 1D: 3.21%
• 1M: -15.07%
• YTD: 5.48%
• 6M: 18.21%
• 1Y: 84.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GDXU vs. DXMO.TO - Expense Ratio Comparison

GDXU has a 0.95% expense ratio, which is higher than DXMO.TO's 0.74% expense ratio.

GDXU

MicroSectors Gold Miners 3X Leveraged ETN

DXMO.TO

Dynamic Active Mining Opportunities ETF

Return for Risk

GDXU vs. DXMO.TO — Risk / Return Rank

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

GDXU

GDXU Risk / Return Rank: 89
GDXU Sharpe Ratio Rank: 91
GDXU Sortino Ratio Rank: 86
GDXU Omega Ratio Rank: 85
GDXU Calmar Ratio Rank: 94
GDXU Martin Ratio Rank: 87

DXMO.TO

DXMO.TO Risk / Return Rank: 88
DXMO.TO Sharpe Ratio Rank: 92
DXMO.TO Sortino Ratio Rank: 88
DXMO.TO Omega Ratio Rank: 89
DXMO.TO Calmar Ratio Rank: 87
DXMO.TO Martin Ratio Rank: 85

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.

GDXU vs. DXMO.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Gold Miners 3X Leveraged ETN (GDXU) and Dynamic Active Mining Opportunities ETF (DXMO.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.

	GDXU	DXMO.TO	Difference
Sharpe ratio Return per unit of total volatility	2.07	2.21	-0.14
Sortino ratio Return per unit of downside risk	2.39	2.53	-0.15
Omega ratio Gain probability vs. loss probability	1.35	1.38	-0.03
Calmar ratio Return relative to maximum drawdown	3.87	3.09	+0.77
Martin ratio Return relative to average drawdown	10.85	11.37	-0.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GDXU vs. DXMO.TO - Sharpe Ratio Comparison

The current GDXU Sharpe Ratio is 2.07, which is comparable to the DXMO.TO Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of GDXU and DXMO.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	GDXU	DXMO.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.07	2.21	-0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.06	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.01	1.12	-1.13

Correlation

The correlation between GDXU and DXMO.TO is 0.57, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

GDXU vs. DXMO.TO - Dividend Comparison

GDXU has not paid dividends to shareholders, while DXMO.TO's dividend yield for the trailing twelve months is around 0.17%.

	TTM	2025	2024
GDXU MicroSectors Gold Miners 3X Leveraged ETN	0.00%	0.00%	0.00%
DXMO.TO Dynamic Active Mining Opportunities ETF	0.17%	0.18%	0.50%

Drawdowns

GDXU vs. DXMO.TO - Drawdown Comparison

The maximum GDXU drawdown since its inception was -94.39%, which is greater than DXMO.TO's maximum drawdown of -26.66%. Use the drawdown chart below to compare losses from any high point for GDXU and DXMO.TO.

Drawdown Indicators

	GDXU	DXMO.TO	Difference
Max Drawdown Largest peak-to-trough decline	-94.39%	-26.12%	-68.27%
Max Drawdown (1Y) Largest decline over 1 year	-73.16%	-26.12%	-47.04%
Max Drawdown (5Y) Largest decline over 5 years	-93.34%	—	—
Current Drawdown Current decline from peak	-56.42%	-13.78%	-42.64%
Average Drawdown Average peak-to-trough decline	-69.97%	-5.21%	-64.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.08%	7.04%	+19.04%

Volatility

GDXU vs. DXMO.TO - Volatility Comparison

MicroSectors Gold Miners 3X Leveraged ETN (GDXU) has a higher volatility of 53.09% compared to Dynamic Active Mining Opportunities ETF (DXMO.TO) at 16.49%. This indicates that GDXU's price experiences larger fluctuations and is considered to be riskier than DXMO.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDXU	DXMO.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	53.09%	16.49%	+36.60%
Volatility (6M) Calculated over the trailing 6-month period	122.23%	31.59%	+90.64%
Volatility (1Y) Calculated over the trailing 1-year period	140.32%	38.44%	+101.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	109.02%	35.72%	+73.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	109.02%	35.72%	+73.30%