GDXU vs. TMC
GDXU (MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040) is Leveraged Equities fund tracking the S-Network MicroSectors Gold Miners Index, while TMC (TMC the metals company Inc.) is a stock. Over the past 3 years, GDXU returned 37.87%/yr vs 68.25%/yr for TMC. At a 0.20 correlation, their price movements are largely independent.
Performance
GDXU vs. TMC - Performance Comparison
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Returns By Period
In the year-to-date period, GDXU achieves a -56.00% return, which is significantly lower than TMC's -11.99% return.
GDXU
- 1D
- 8.84%
- 1M
- -50.11%
- YTD
- -56.00%
- 6M
- -55.92%
- 1Y
- 30.95%
- 3Y*
- 37.87%
- 5Y*
- -14.73%
- 10Y*
- —
TMC
- 1D
- 5.85%
- 1M
- -3.72%
- YTD
- -11.99%
- 6M
- -18.22%
- 1Y
- 13.12%
- 3Y*
- 68.25%
- 5Y*
- —
- 10Y*
- —
GDXU vs. TMC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GDXU MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 | -56.00% | 796.47% | -18.60% | -21.36% | -62.82% | -3.71% |
TMC TMC the metals company Inc. | -11.99% | 450.89% | 1.82% | 42.86% | -62.98% | -81.18% |
Correlation
The correlation between GDXU and TMC is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Sep 10, 2021 | 0.20 |
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Return for Risk
GDXU vs. TMC — Risk / Return Rank
GDXU
TMC
GDXU vs. TMC - 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 TMC the metals company Inc. (TMC). 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 | TMC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.11 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.37 | 0.21 | +0.16 |
| Martin ratioReturn relative to average drawdown | 0.80 | 0.35 | +0.46 |
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Drawdowns
GDXU vs. TMC - Drawdown Comparison
The maximum GDXU drawdown since its inception was -94.39%, roughly equal to the maximum TMC drawdown of -95.58%. Use the drawdown chart below to compare losses from any high point for GDXU and TMC.
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Drawdown Indicators
| GDXU | TMC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.39% | -95.58% | +1.19% |
Max Drawdown (1Y)Largest decline over 1 year | -83.97% | -61.65% | -22.32% |
Max Drawdown (3Y)Largest decline over 3 years | -83.97% | -74.56% | -9.41% |
Max Drawdown (5Y)Largest decline over 5 years | -92.44% | — | — |
Current DrawdownCurrent decline from peak | -79.58% | -56.39% | -23.19% |
Average DrawdownAverage peak-to-trough decline | -69.77% | -79.43% | +9.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 38.59% | 37.93% | +0.66% |
Volatility
GDXU vs. TMC - Volatility Comparison
MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 (GDXU) has a higher volatility of 54.28% compared to TMC the metals company Inc. (TMC) at 24.27%. This indicates that GDXU's price experiences larger fluctuations and is considered to be riskier than TMC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GDXU | TMC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 54.28% | 24.27% | +30.01% |
Volatility (6M)Calculated over the trailing 6-month period | 123.72% | 68.29% | +55.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 142.00% | 104.72% | +37.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 111.92% | 113.21% | -1.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 110.82% | 113.21% | -2.39% |
Dividends
GDXU vs. TMC - Dividend Comparison
Neither GDXU nor TMC has paid dividends to shareholders.
Frequently Asked Questions
GDXU and TMC have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDXU has higher volatility (54.28%) compared to TMC (24.27%). In terms of maximum drawdown, GDXU dropped -94.39% vs TMC's -95.58%.
GDXU currently has the higher Sharpe Ratio (0.22 vs 0.13), 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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