GDXU vs. OLA.TO
GDXU (MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040) is Leveraged Equities fund tracking the S-Network MicroSectors Gold Miners Index, while OLA.TO (Orla Mining Ltd.) is a stock. Over the past 5 years, GDXU returned -14.73%/yr vs 18.27%/yr for OLA.TO. A 0.68 correlation means they provide meaningful diversification when combined.
Performance
GDXU vs. OLA.TO - Performance Comparison
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Different Trading Currencies
GDXU is traded in USD, while OLA.TO is traded in CAD. To make them comparable, the OLA.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, GDXU achieves a -56.00% return, which is significantly lower than OLA.TO's -20.79% return.
GDXU
- 1D
- 8.84%
- 1M
- -50.11%
- YTD
- -56.00%
- 6M
- -55.92%
- 1Y
- 30.95%
- 3Y*
- 37.87%
- 5Y*
- -14.73%
- 10Y*
- —
OLA.TO
- 1D
- 2.89%
- 1M
- -26.70%
- YTD
- -20.79%
- 6M
- -18.29%
- 1Y
- -2.73%
- 3Y*
- 38.94%
- 5Y*
- 18.27%
- 10Y*
- —
GDXU vs. OLA.TO - 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% |
OLA.TO Orla Mining Ltd. | -20.79% | 143.00% | 69.88% | -19.25% | 6.70% | -29.56% | -0.03% |
Correlation
The correlation between GDXU and OLA.TO is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2020 | 0.68 |
The correlation between GDXU and OLA.TO has been stable across timeframes, ranging from 0.67 to 0.69 - a consistent structural relationship.
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Return for Risk
GDXU vs. OLA.TO — Risk / Return Rank
GDXU
OLA.TO
GDXU vs. OLA.TO - 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 Orla Mining Ltd. (OLA.TO). 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 | OLA.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.81 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.06 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.37 | -0.05 | +0.42 |
| Martin ratioReturn relative to average drawdown | 0.80 | -0.13 | +0.93 |
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Drawdowns
GDXU vs. OLA.TO - Drawdown Comparison
The maximum GDXU drawdown since its inception was -94.39%, which is greater than OLA.TO's maximum drawdown of -57.88%. Use the drawdown chart below to compare losses from any high point for GDXU and OLA.TO.
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Drawdown Indicators
| GDXU | OLA.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.39% | -57.88% | -36.51% |
Max Drawdown (1Y)Largest decline over 1 year | -83.97% | -54.91% | -29.06% |
Max Drawdown (3Y)Largest decline over 3 years | -83.97% | -54.91% | -29.06% |
Max Drawdown (5Y)Largest decline over 5 years | -92.44% | -54.91% | -37.53% |
Current DrawdownCurrent decline from peak | -79.58% | -50.87% | -28.71% |
Average DrawdownAverage peak-to-trough decline | -69.77% | -23.16% | -46.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 38.59% | 21.68% | +16.91% |
Volatility
GDXU vs. OLA.TO - Volatility Comparison
MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 (GDXU) has a higher volatility of 54.28% compared to Orla Mining Ltd. (OLA.TO) at 23.07%. This indicates that GDXU's price experiences larger fluctuations and is considered to be riskier than OLA.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GDXU | OLA.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 54.28% | 23.07% | +31.21% |
Volatility (6M)Calculated over the trailing 6-month period | 123.72% | 51.52% | +72.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 142.00% | 73.18% | +68.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 111.92% | 58.92% | +53.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 110.82% | 57.20% | +53.62% |
Dividends
GDXU vs. OLA.TO - Dividend Comparison
GDXU has not paid dividends to shareholders, while OLA.TO's dividend yield for the trailing twelve months is around 0.28%.
| Position | TTM |
|---|---|
GDXU MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 | 0.00% |
OLA.TO Orla Mining Ltd. | 0.28% |
Frequently Asked Questions
GDXU and OLA.TO have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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