GDXU vs. SBIT
GDXU (MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - GDXU is a Leveraged Equities fund tracking the S-Network MicroSectors Gold Miners Index, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). Both are passively managed. Over the past year, GDXU returned 8.47% vs 98.77% for SBIT. Their -0.21 correlation means they have often moved in opposite directions in the past. Both charge a 0.95% expense ratio.
Performance
GDXU vs. SBIT - Performance Comparison
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Returns By Period
In the year-to-date period, GDXU achieves a -69.22% return, which is significantly lower than SBIT's 39.44% return.
GDXU
- 1D
- -10.43%
- 1M
- -21.69%
- 6M
- -73.59%
- YTD
- -69.22%
- 1Y
- 8.47%
- 3Y*
- 27.81%
- 5Y*
- -14.38%
- 10Y*
- —
- ALL TIME*
- -18.76%
SBIT
- 1D
- 5.60%
- 1M
- -6.04%
- 6M
- 32.41%
- YTD
- 39.44%
- 1Y
- 98.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -42.65%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $99.61M | $115.40M | $172.82M | |
| $29.57M | $32.71M | $46.48M |
GDXU vs. SBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GDXU MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 | -69.22% | 796.47% | -15.09% |
SBIT Proshares Ultrashort Bitcoin ETF | 39.44% | -25.11% | -73.74% |
Correlation
The correlation between GDXU and SBIT is -0.32, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.32 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024 | -0.21 |
The correlation between GDXU and SBIT shifts across timeframes, from -0.32 (1 year) to -0.21 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GDXU vs. SBIT — Risk / Return Rank
GDXU
SBIT
GDXU vs. SBIT - 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 Proshares Ultrashort Bitcoin ETF (SBIT). 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 | SBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.23 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 0.15 | 2.35 | -2.20 |
| Martin ratioReturn relative to average drawdown | 0.27 | 5.19 | -4.92 |
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Drawdowns
GDXU vs. SBIT - Drawdown Comparison
The maximum GDXU drawdown since its inception was -94.39%, roughly equal to the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for GDXU and SBIT.
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Drawdown Indicators
| GDXU | SBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.39% | -91.35% | -3.04% |
Max Drawdown (1Y)Largest decline over 1 year | -87.14% | -47.94% | -39.20% |
Max Drawdown (3Y)Largest decline over 3 years | -87.14% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -91.30% | — | — |
Current DrawdownCurrent decline from peak | -85.71% | -77.87% | -7.84% |
Average DrawdownAverage peak-to-trough decline | -70.08% | -69.07% | -1.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 48.64% | 21.67% | +26.97% |
Volatility
GDXU vs. SBIT - Volatility Comparison
MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 (GDXU) has a higher volatility of 38.79% compared to Proshares Ultrashort Bitcoin ETF (SBIT) at 18.09%. This indicates that GDXU's price experiences larger fluctuations and is considered to be riskier than SBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GDXU | SBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 38.79% | 18.09% | +20.70% |
Volatility (6M)Calculated over the trailing 6-month period | 125.93% | 67.10% | +58.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 147.32% | 88.65% | +58.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 113.44% | 96.10% | +17.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 111.56% | 96.10% | +15.46% |
GDXU vs. SBIT - Expense Ratio Comparison
Both GDXU and SBIT have an expense ratio of 0.95%.
Dividends
GDXU vs. SBIT - Dividend Comparison
GDXU has not paid dividends to shareholders, while SBIT's dividend yield for the trailing twelve months is around 4.10%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
GDXU MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 | 0.00% | 0.00% | 0.00% |
SBIT Proshares Ultrashort Bitcoin ETF | 4.03% | 0.52% | 1.00% |
Frequently Asked Questions
GDXU and SBIT have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDXU has higher volatility (38.79%) compared to SBIT (18.09%). In terms of maximum drawdown, GDXU dropped -94.39% vs SBIT's -91.35%.
On 1-year performance, SBIT leads with 98.77% vs 8.47% for GDXU. Both ETFs have the same 0.95% expense ratio. On volatility, SBIT has been the lower-risk option at 18.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SBIT has performed better with a 98.77% return vs 8.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GDXU and SBIT have the same expense ratio: 0.95% per year.
SBIT has the higher dividend yield at 4.03%, compared with 0.00% for GDXU.
GDXU is categorized as Leveraged Equities, while SBIT is Cryptocurrency. GDXU tracks S-Network MicroSectors Gold Miners Index, while SBIT tracks Bloomberg Bitcoin Index (-200%). They also come from different issuers: BMO and ProShares.
SBIT currently has the higher Sharpe Ratio (1.27 vs 0.09), 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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