GDXU vs. NGD

Last updated Jun 13, 2026

GDXU (MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040) is Leveraged Equities fund tracking the S-Network MicroSectors Gold Miners Index, while NGD (New Gold Inc.) is a stock. A 0.74 correlation means they provide meaningful diversification when combined.

Performance

GDXU vs. NGD - 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 New Gold Inc. (NGD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

GDXU

• 1D: 8.84%
• 1M: -50.11%
• YTD: -56.00%
• 6M: -55.92%
• 1Y: 30.95%
• 3Y*: 37.87%
• 5Y*: -14.73%
• 10Y*: —

NGD

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GDXU vs. NGD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
GDXU MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040	-56.00%	796.47%	-18.60%	-21.36%	-62.82%	-54.93%	4.32%
NGD New Gold Inc.	4.25%	251.21%	69.86%	48.98%	-34.67%	-31.51%	12.31%

Correlation

The correlation between GDXU and NGD is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (All Time) Calculated using the full available price history since Dec 3, 2020	0.74

The correlation between GDXU and NGD has been stable across timeframes, ranging from 0.68 to 0.75 - a consistent structural relationship.

Return for Risk

GDXU vs. NGD — Risk / Return Rank

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

GDXU

GDXU Risk / Return Rank: 19
GDXU Sharpe Ratio Rank: 13
GDXU Sortino Ratio Rank: 26
GDXU Omega Ratio Rank: 29
GDXU Calmar Ratio Rank: 14
GDXU Martin Ratio Rank: 14

NGD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. NGD - 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 New Gold Inc. (NGD). 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	NGD	Difference
Sharpe ratio: Return per unit of total volatility	0.22	—	—
Sortino ratio: Return per unit of downside risk	1.27	—	—
Omega ratio: Gain probability vs. loss probability	1.18	—	—
Calmar ratio: Return relative to maximum drawdown	0.37	—	—
Martin ratio: Return relative to average drawdown	0.80	—	—

Drawdowns

Drawdown Indicators

	GDXU	NGD	Difference
Max Drawdown Largest peak-to-trough decline	-94.39%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-83.97%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-83.97%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-92.44%	—	—
Current Drawdown Current decline from peak	-79.58%	—	—
Average Drawdown Average peak-to-trough decline	-69.77%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	38.59%	—	—

Volatility

Volatility by Period

	GDXU	NGD	Difference
Volatility (1M) Calculated over the trailing 1-month period	54.28%	—	—
Volatility (6M) Calculated over the trailing 6-month period	123.72%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	142.00%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	111.92%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	110.82%	—	—

Dividends

GDXU vs. NGD - Dividend Comparison

Neither GDXU nor NGD has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GDXU and NGD in my portfolio?

GDXU and NGD have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.