GDXU vs. GDXD
Compare and contrast key facts about MicroSectors Gold Miners 3X Leveraged ETN (GDXU) and MicroSectors Gold Miners -3X Inverse Leveraged ETNs (GDXD).
GDXU and GDXD 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. GDXD is a passively managed fund by BMO that tracks the performance of the S-Network MicroSectors Gold Miners Index - Benchmark TR Gross (-300%). It was launched on Dec 2, 2020. Both GDXU and GDXD 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. GDXD - Performance Comparison
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GDXU vs. GDXD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GDXU MicroSectors Gold Miners 3X Leveraged ETN | -6.09% | 796.47% | -18.60% | -21.36% | -62.82% | -54.93% | 4.66% |
GDXD MicroSectors Gold Miners -3X Inverse Leveraged ETNs | -57.98% | -97.53% | -57.78% | -52.35% | -52.56% | -19.71% | -13.30% |
Returns By Period
In the year-to-date period, GDXU achieves a -6.09% return, which is significantly higher than GDXD's -57.98% return.
GDXU
- 1D
- 13.62%
- 1M
- -51.51%
- YTD
- -6.09%
- 6M
- 8.92%
- 1Y
- 287.76%
- 3Y*
- 63.33%
- 5Y*
- 6.19%
- 10Y*
- —
GDXD
- 1D
- -13.65%
- 1M
- 43.26%
- YTD
- -57.98%
- 6M
- -78.84%
- 1Y
- -97.19%
- 3Y*
- -84.82%
- 5Y*
- -76.20%
- 10Y*
- —
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GDXU vs. GDXD - Expense Ratio Comparison
Both GDXU and GDXD have an expense ratio of 0.95%.
Return for Risk
GDXU vs. GDXD — Risk / Return Rank
GDXU
GDXD
GDXU vs. GDXD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors Gold Miners 3X Leveraged ETN (GDXU) and MicroSectors Gold Miners -3X Inverse Leveraged ETNs (GDXD). 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 | GDXD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.07 | -0.70 | +2.77 |
Sortino ratioReturn per unit of downside risk | 2.39 | -2.67 | +5.05 |
Omega ratioGain probability vs. loss probability | 1.35 | 0.72 | +0.63 |
Calmar ratioReturn relative to maximum drawdown | 3.87 | -0.99 | +4.85 |
Martin ratioReturn relative to average drawdown | 10.85 | -1.20 | +12.05 |
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 | GDXD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.07 | -0.70 | +2.77 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.06 | -0.71 | +0.76 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.01 | -0.69 | +0.68 |
Correlation
The correlation between GDXU and GDXD is -0.99. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
GDXU vs. GDXD - Dividend Comparison
Neither GDXU nor GDXD has paid dividends to shareholders.
Drawdowns
GDXU vs. GDXD - Drawdown Comparison
The maximum GDXU drawdown since its inception was -94.39%, smaller than the maximum GDXD drawdown of -99.96%. Use the drawdown chart below to compare losses from any high point for GDXU and GDXD.
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Drawdown Indicators
| GDXU | GDXD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.39% | -99.96% | +5.57% |
Max Drawdown (1Y)Largest decline over 1 year | -73.16% | -98.51% | +25.35% |
Max Drawdown (5Y)Largest decline over 5 years | -93.34% | -99.96% | +6.62% |
Current DrawdownCurrent decline from peak | -56.42% | -99.94% | +43.52% |
Average DrawdownAverage peak-to-trough decline | -69.97% | -70.95% | +0.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.08% | 80.88% | -54.80% |
Volatility
GDXU vs. GDXD - Volatility Comparison
MicroSectors Gold Miners 3X Leveraged ETN (GDXU) and MicroSectors Gold Miners -3X Inverse Leveraged ETNs (GDXD) have volatilities of 53.09% and 52.55%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GDXU | GDXD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 53.09% | 52.55% | +0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 122.23% | 111.65% | +10.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 140.32% | 138.77% | +1.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 109.02% | 108.19% | +0.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 109.02% | 108.33% | +0.69% |