GDXU vs. FAS
Compare and contrast key facts about MicroSectors Gold Miners 3X Leveraged ETN (GDXU) and Direxion Daily Financial Bull 3X Shares (FAS).
GDXU and FAS 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. FAS is a passively managed fund by Direxion that tracks the performance of the Russell 1000 Financial Services Index (300%). It was launched on Nov 6, 2008. Both GDXU and FAS are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
GDXU vs. FAS - Performance Comparison
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GDXU vs. FAS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GDXU MicroSectors Gold Miners 3X Leveraged ETN | -17.35% | 796.47% | -18.60% | -21.36% | -62.82% | -54.93% | 4.66% |
FAS Direxion Daily Financial Bull 3X Shares | -29.25% | 21.48% | 84.47% | 14.92% | -43.19% | 116.59% | 10.68% |
Returns By Period
In the year-to-date period, GDXU achieves a -17.35% return, which is significantly higher than FAS's -29.25% return.
GDXU
- 1D
- 21.36%
- 1M
- -58.05%
- YTD
- -17.35%
- 6M
- -1.70%
- 1Y
- 237.00%
- 3Y*
- 56.52%
- 5Y*
- 3.51%
- 10Y*
- —
FAS
- 1D
- 6.35%
- 1M
- -11.64%
- YTD
- -29.25%
- 6M
- -27.65%
- 1Y
- -18.17%
- 3Y*
- 32.31%
- 5Y*
- 7.69%
- 10Y*
- 18.68%
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GDXU vs. FAS - Expense Ratio Comparison
GDXU has a 0.95% expense ratio, which is lower than FAS's 1.00% expense ratio.
Return for Risk
GDXU vs. FAS — Risk / Return Rank
GDXU
FAS
GDXU vs. FAS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors Gold Miners 3X Leveraged ETN (GDXU) and Direxion Daily Financial Bull 3X Shares (FAS). 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 | FAS | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.71 | -0.32 | +2.03 |
Sortino ratioReturn per unit of downside risk | 2.24 | -0.08 | +2.32 |
Omega ratioGain probability vs. loss probability | 1.33 | 0.99 | +0.34 |
Calmar ratioReturn relative to maximum drawdown | 3.32 | -0.37 | +3.69 |
Martin ratioReturn relative to average drawdown | 9.41 | -1.01 | +10.42 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GDXU | FAS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.71 | -0.32 | +2.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.03 | 0.14 | -0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.31 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.03 | 0.19 | -0.22 |
Correlation
The correlation between GDXU and FAS is 0.20, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
GDXU vs. FAS - Dividend Comparison
GDXU has not paid dividends to shareholders, while FAS's dividend yield for the trailing twelve months is around 11.79%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GDXU MicroSectors Gold Miners 3X Leveraged ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FAS Direxion Daily Financial Bull 3X Shares | 11.79% | 8.21% | 0.76% | 1.77% | 0.91% | 0.60% | 0.47% | 0.62% | 1.43% | 0.11% |
Drawdowns
GDXU vs. FAS - Drawdown Comparison
The maximum GDXU drawdown since its inception was -94.39%, roughly equal to the maximum FAS drawdown of -91.61%. Use the drawdown chart below to compare losses from any high point for GDXU and FAS.
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Drawdown Indicators
| GDXU | FAS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.39% | -91.61% | -2.78% |
Max Drawdown (1Y)Largest decline over 1 year | -73.16% | -40.88% | -32.28% |
Max Drawdown (5Y)Largest decline over 5 years | -93.34% | -66.88% | -26.46% |
Max Drawdown (10Y)Largest decline over 10 years | — | -85.99% | — |
Current DrawdownCurrent decline from peak | -61.64% | -35.08% | -26.56% |
Average DrawdownAverage peak-to-trough decline | -69.98% | -31.15% | -38.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.85% | 14.87% | +10.98% |
Volatility
GDXU vs. FAS - Volatility Comparison
MicroSectors Gold Miners 3X Leveraged ETN (GDXU) has a higher volatility of 57.72% compared to Direxion Daily Financial Bull 3X Shares (FAS) at 14.32%. This indicates that GDXU's price experiences larger fluctuations and is considered to be riskier than FAS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GDXU | FAS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 57.72% | 14.32% | +43.40% |
Volatility (6M)Calculated over the trailing 6-month period | 121.60% | 34.33% | +87.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 139.74% | 57.51% | +82.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 108.93% | 55.69% | +53.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 108.91% | 61.35% | +47.56% |