GDXU vs. GDE

Last updated Jun 9, 2026

GDXU (MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040) and GDE (WisdomTree Efficient Gold Plus Equity Strategy Fund) are both exchange-traded funds - GDXU is a Leveraged Equities fund tracking the S-Network MicroSectors Gold Miners Index, while GDE is a Gold fund actively managed by WisdomTree. GDXU is passively managed, while GDE is actively managed. Over the past 3 years, GDXU returned 35.00%/yr vs 44.47%/yr for GDE. A 0.71 correlation means they provide meaningful diversification when combined. GDXU charges 0.95%/yr vs 0.20%/yr for GDE.

Performance

GDXU vs. GDE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 (GDXU) and WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GDXU achieves a -57.47% return, which is significantly lower than GDE's 5.74% return.

GDXU

• 1D: -0.54%
• 1M: -49.20%
• YTD: -57.47%
• 6M: -46.20%
• 1Y: 38.54%
• 3Y*: 35.00%
• 5Y*: -14.72%
• 10Y*: —

GDE

• 1D: 0.95%
• 1M: -7.44%
• YTD: 5.74%
• 6M: 8.50%
• 1Y: 47.93%
• 3Y*: 44.47%
• 5Y*: —
• 10Y*: —

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

GDXU vs. GDE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GDXU MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040	-57.47%	796.47%	-18.60%	-21.36%	-74.00%
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund	5.74%	73.76%	44.79%	33.85%	-18.67%

Correlation

The correlation between GDXU and GDE is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (All Time) Calculated using the full available price history since Mar 18, 2022	0.71

The correlation between GDXU and GDE has been stable across timeframes, ranging from 0.70 to 0.77 - a consistent structural relationship.

GDXU vs. GDE - Sectors Allocation Comparison

Sectors	GDXU	GDE
Basic Materials	100.0%	1.4%
Communication Services	-	12.2%
Consumer Cyclical	-	10.1%
Consumer Defensive	-	5.5%
Energy	-	3.4%
Financial Services	-	12.2%
Healthcare	-	8.3%
Industrials	-	7.6%
Real Estate	-	1.6%
Technology	-	35.6%
Utilities	-	2.1%

Return for Risk

GDXU vs. GDE — Risk / Return Rank

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

GDXU

GDXU Risk / Return Rank: 20
GDXU Sharpe Ratio Rank: 14
GDXU Sortino Ratio Rank: 26
GDXU Omega Ratio Rank: 30
GDXU Calmar Ratio Rank: 16
GDXU Martin Ratio Rank: 14

GDE

GDE Risk / Return Rank: 49
GDE Sharpe Ratio Rank: 54
GDE Sortino Ratio Rank: 47
GDE Omega Ratio Rank: 54
GDE Calmar Ratio Rank: 47
GDE Martin Ratio Rank: 43

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. GDE - 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 WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE). 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	GDE	Difference
Sharpe ratio: Return per unit of total volatility	0.28	1.66	-1.38
Sortino ratio: Return per unit of downside risk	1.32	2.07	-0.76
Omega ratio: Gain probability vs. loss probability	1.18	1.31	-0.12
Calmar ratio: Return relative to maximum drawdown	0.48	2.13	-1.64
Martin ratio: Return relative to average drawdown	1.04	6.49	-5.45
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. GDE - Sharpe Ratio Comparison

The current GDXU Sharpe Ratio is 0.28, which is lower than the GDE Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of GDXU and GDE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GDXU	GDE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.28	1.66	-1.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.13	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.13	1.10	-1.23

Drawdowns

GDXU vs. GDE - Drawdown Comparison

The maximum GDXU drawdown since its inception was -94.39%, which is greater than GDE's maximum drawdown of -32.01%. Use the drawdown chart below to compare losses from any high point for GDXU and GDE.

Drawdown Indicators

	GDXU	GDE	Difference
Max Drawdown Largest peak-to-trough decline	-94.39%	-32.01%	-62.38%
Max Drawdown (1Y) Largest decline over 1 year	-80.26%	-22.66%	-57.60%
Max Drawdown (3Y) Largest decline over 3 years	-80.26%	-22.66%	-57.60%
Max Drawdown (5Y) Largest decline over 5 years	-92.93%	—	—
Current Drawdown Current decline from peak	-80.26%	-14.44%	-65.82%
Average Drawdown Average peak-to-trough decline	-69.78%	-7.90%	-61.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	37.20%	7.40%	+29.80%

Volatility

GDXU vs. GDE - Volatility Comparison

MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 (GDXU) has a higher volatility of 50.50% compared to WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE) at 8.25%. This indicates that GDXU's price experiences larger fluctuations and is considered to be riskier than GDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDXU	GDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	50.50%	8.25%	+42.25%
Volatility (6M) Calculated over the trailing 6-month period	122.03%	25.04%	+96.99%
Volatility (1Y) Calculated over the trailing 1-year period	140.25%	29.09%	+111.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	111.49%	26.26%	+85.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	110.52%	26.26%	+84.26%

GDXU vs. GDE - Expense Ratio Comparison

GDXU has a 0.95% expense ratio, which is higher than GDE's 0.20% expense ratio.

Dividends

GDXU vs. GDE - Dividend Comparison

GDXU has not paid dividends to shareholders, while GDE's dividend yield for the trailing twelve months is around 4.09%.

Position	TTM	2025	2024	2023	2022
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund	4.09%	4.32%	7.14%	2.22%	0.81%
GDXU MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GDXU and GDE in my portfolio?

GDXU and GDE have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GDXU or GDE?

GDXU has higher volatility (50.50%) compared to GDE (8.25%). In terms of maximum drawdown, GDXU dropped -94.39% vs GDE's -32.01%.

Which ETF is better, GDXU or GDE?

On 3-year performance, GDE leads with 44.47% vs 35.00% for GDXU. On fees, GDE is cheaper at 0.20% per year. On volatility, GDE has been the lower-risk option at 8.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GDXU or GDE?

Over the 3-year period, GDE has performed better with a 44.47% return vs 35.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GDXU or GDE?

GDE is cheaper with a 0.20% expense ratio, compared with 0.95% for GDXU.

Which ETF pays a higher dividend yield, GDXU or GDE?

GDE has the higher dividend yield at 4.09%, compared with 0.00% for GDXU.

What is the main difference between GDXU and GDE?

GDXU is categorized as Leveraged Equities, while GDE is Gold. They also come from different issuers: BMO and WisdomTree. Their fees differ too: 0.95% for GDXU and 0.20% for GDE.

Which has better risk-adjusted returns?

GDE currently has the higher Sharpe Ratio (1.66 vs 0.28), 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.