GDXU vs. OILU
GDXU (MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040) and OILU (MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN) are both Leveraged Equities funds from BMO - GDXU tracks the S-Network MicroSectors Gold Miners Index while OILU tracks the Solactive MicroSectors Oil & Gas Exploration & Production Index. Both are passively managed. Over the past 3 years, GDXU returned 37.83%/yr vs -0.34%/yr for OILU. Their 0.19 correlation means their historical movements had little consistent relationship. Both charge a 0.95% expense ratio.
Performance
GDXU vs. OILU - Performance Comparison
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Returns By Period
In the year-to-date period, GDXU achieves a -64.09% return, which is significantly lower than OILU's 84.63% return.
GDXU
- 1D
- 7.92%
- 1M
- -8.65%
- 6M
- -72.51%
- YTD
- -64.09%
- 1Y
- 11.75%
- 3Y*
- 37.83%
- 5Y*
- -10.60%
- 10Y*
- —
- ALL TIME*
- -16.49%
OILU
- 1D
- -1.28%
- 1M
- 31.23%
- 6M
- 27.69%
- YTD
- 84.63%
- 1Y
- 97.58%
- 3Y*
- -0.34%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 11.91%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $105.89M | $107.55M | $168.52M | |
| $8.18M | $7.71M | $7.79M |
GDXU vs. OILU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GDXU MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 | -64.09% | 796.47% | -18.60% | -21.36% | -62.82% | -11.06% |
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN | 84.63% | -16.50% | -21.65% | -32.50% | 151.08% | -16.79% |
Correlation
The correlation between GDXU and OILU is -0.07, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.07 |
Correlation (3Y) Balances recent behavior with more history. | 0.08 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2021 | 0.19 |
The correlation between GDXU and OILU shifts across timeframes, from -0.07 (1 year) to 0.19 (all time), reflecting how their relationship changes across market environments.
GDXU vs. OILU - Sectors Allocation Comparison
Sectors
GDXU
OILU
Basic Materials
-
Communication Services
-
-
Consumer Cyclical
-
-
Consumer Defensive
-
-
Energy
-
Financial Services
-
-
Healthcare
-
-
Industrials
-
-
Real Estate
-
-
Technology
-
-
Utilities
-
-
Basic Materials
GDXU
OILU
-
Communication Services
GDXU
-
OILU
-
Consumer Cyclical
GDXU
-
OILU
-
Consumer Defensive
GDXU
-
OILU
-
Energy
GDXU
-
OILU
Financial Services
GDXU
-
OILU
-
Healthcare
GDXU
-
OILU
-
Industrials
GDXU
-
OILU
-
Real Estate
GDXU
-
OILU
-
Technology
GDXU
-
OILU
-
Utilities
GDXU
-
OILU
-
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Return for Risk
GDXU vs. OILU — Risk / Return Rank
GDXU
OILU
GDXU vs. OILU - 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 MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU). 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 | OILU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.45 | ||
| Sortino ratioReturn per unit of downside risk | -0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.24 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.14 | 2.11 | -1.98 |
| Martin ratioReturn relative to average drawdown | 0.24 | 5.17 | -4.93 |
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Drawdowns
GDXU vs. OILU - Drawdown Comparison
The maximum GDXU drawdown since its inception was -94.39%, which is greater than OILU's maximum drawdown of -81.00%. Use the drawdown chart below to compare losses from any high point for GDXU and OILU.
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Drawdown Indicators
| GDXU | OILU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.39% | -81.00% | -13.39% |
Max Drawdown (1Y)Largest decline over 1 year | -87.14% | -46.49% | -40.65% |
Max Drawdown (3Y)Largest decline over 3 years | -87.14% | -69.09% | -18.05% |
Max Drawdown (5Y)Largest decline over 5 years | -91.30% | — | — |
Current DrawdownCurrent decline from peak | -83.33% | -50.34% | -32.99% |
Average DrawdownAverage peak-to-trough decline | -70.10% | -50.69% | -19.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 49.21% | 18.96% | +30.25% |
Volatility
GDXU vs. OILU - Volatility Comparison
MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 (GDXU) has a higher volatility of 38.36% compared to MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) at 20.19%. This indicates that GDXU's price experiences larger fluctuations and is considered to be riskier than OILU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GDXU | OILU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 38.36% | 20.19% | +18.17% |
Volatility (6M)Calculated over the trailing 6-month period | 117.20% | 51.63% | +65.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 147.65% | 64.20% | +83.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 113.58% | 80.75% | +32.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 111.57% | 80.75% | +30.82% |
GDXU vs. OILU - Expense Ratio Comparison
Both GDXU and OILU have an expense ratio of 0.95%.
Dividends
GDXU vs. OILU - Dividend Comparison
Neither GDXU nor OILU has paid dividends to shareholders.
Frequently Asked Questions
GDXU and OILU have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDXU has higher volatility (38.36%) compared to OILU (20.19%). In terms of maximum drawdown, GDXU dropped -94.39% vs OILU's -81.00%.
On 3-year performance, GDXU leads with 37.83% vs -0.34% for OILU. Both ETFs have the same 0.95% expense ratio. On volatility, OILU has been the lower-risk option at 20.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GDXU has performed better with a 37.83% return vs -0.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GDXU and OILU have the same expense ratio: 0.95% per year.
GDXU and OILU have nearly identical dividend yields, around 0.00%.
GDXU tracks S-Network MicroSectors Gold Miners Index, while OILU tracks Solactive MicroSectors Oil & Gas Exploration & Production Index.
OILU currently has the higher Sharpe Ratio (1.53 vs 0.08), 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.
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