GDXU vs. NIOG

Last updated Jun 26, 2026

GDXU (MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040) and NIOG (Leverage Shares 2X Long NIO Daily ETF) are both Leveraged Equities funds - GDXU tracks the S-Network MicroSectors Gold Miners Index while NIOG tracks the NIO Inc. (NIO). Both are passively managed. At a 0.18 correlation, their price movements are largely independent. GDXU charges 0.95%/yr vs 0.75%/yr for NIOG.

Performance

GDXU vs. NIOG - 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 Leverage Shares 2X Long NIO Daily ETF (NIOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GDXU achieves a -64.44% return, which is significantly lower than NIOG's -30.21% return.

GDXU

• 1D: 4.85%
• 1M: -45.28%
• YTD: -64.44%
• 6M: -69.38%
• 1Y: 19.80%
• 3Y*: 32.85%
• 5Y*: -12.23%
• 10Y*: —

NIOG

• 1D: -7.05%
• 1M: -21.38%
• YTD: -30.21%
• 6M: -25.91%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GDXU vs. NIOG - Yearly Performance Comparison

	2026 (YTD)	2025
GDXU MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040	-64.44%	-0.16%
NIOG Leverage Shares 2X Long NIO Daily ETF	-30.21%	3.25%

Correlation

The correlation between GDXU and NIOG is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 18, 2025	0.18

Return for Risk

GDXU vs. NIOG — Risk / Return Rank

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

GDXU

GDXU Risk / Return Rank: 16
GDXU Sharpe Ratio Rank: 11
GDXU Sortino Ratio Rank: 23
GDXU Omega Ratio Rank: 25
GDXU Calmar Ratio Rank: 11
GDXU Martin Ratio Rank: 11

NIOG

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. NIOG - 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 Leverage Shares 2X Long NIO Daily ETF (NIOG). 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	NIOG	Difference
Sharpe ratio: Return per unit of total volatility	0.14	—	—
Sortino ratio: Return per unit of downside risk	1.21	—	—
Omega ratio: Gain probability vs. loss probability	1.16	—	—
Calmar ratio: Return relative to maximum drawdown	0.24	—	—
Martin ratio: Return relative to average drawdown	0.49	—	—

Drawdowns

GDXU vs. NIOG - Drawdown Comparison

The maximum GDXU drawdown since its inception was -94.39%, which is greater than NIOG's maximum drawdown of -56.27%. Use the drawdown chart below to compare losses from any high point for GDXU and NIOG.

Drawdown Indicators

	GDXU	NIOG	Difference
Max Drawdown Largest peak-to-trough decline	-94.39%	-56.27%	-38.12%
Max Drawdown (1Y) Largest decline over 1 year	-84.26%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-84.26%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-91.30%	—	—
Current Drawdown Current decline from peak	-83.50%	-56.27%	-27.23%
Average Drawdown Average peak-to-trough decline	-69.82%	-22.75%	-47.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	40.80%	—	—

Volatility

Volatility by Period

	GDXU	NIOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	54.90%	—	—
Volatility (6M) Calculated over the trailing 6-month period	126.32%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	144.77%	115.62%	+29.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	112.57%	115.62%	-3.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	111.32%	115.62%	-4.30%

GDXU vs. NIOG - Expense Ratio Comparison

GDXU has a 0.95% expense ratio, which is higher than NIOG's 0.75% expense ratio.

Dividends

GDXU vs. NIOG - Dividend Comparison

Neither GDXU nor NIOG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GDXU and NIOG in my portfolio?

GDXU and NIOG have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GDXU or NIOG?

On fees, NIOG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GDXU or NIOG?

NIOG is cheaper with a 0.75% expense ratio, compared with 0.95% for GDXU.

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

GDXU and NIOG have nearly identical dividend yields, around 0.00%.

What is the main difference between GDXU and NIOG?

GDXU tracks S-Network MicroSectors Gold Miners Index, while NIOG tracks NIO Inc. (NIO). They also come from different issuers: BMO and Leverage Shares. Their fees differ too: 0.95% for GDXU and 0.75% for NIOG.