GDXU vs. USAR

Last updated Jun 13, 2026

GDXU (MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040) is Leveraged Equities fund tracking the S-Network MicroSectors Gold Miners Index, while USAR (USA Rare Earth, Inc) is a stock. Over the past year, GDXU returned 30.95% vs 51.34% for USAR. At a 0.23 correlation, their price movements are largely independent.

Performance

GDXU vs. USAR - 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 USA Rare Earth, Inc (USAR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GDXU achieves a -56.00% return, which is significantly lower than USAR's 84.79% return.

GDXU

• 1D: 8.84%
• 1M: -50.11%
• YTD: -56.00%
• 6M: -55.92%
• 1Y: 30.95%
• 3Y*: 37.87%
• 5Y*: -14.73%
• 10Y*: —

USAR

• 1D: -2.53%
• 1M: -13.49%
• YTD: 84.79%
• 6M: 29.05%
• 1Y: 51.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GDXU vs. USAR - Yearly Performance Comparison

	2026 (YTD)	2025
GDXU MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040	-56.00%	378.70%
USAR USA Rare Earth, Inc	84.79%	16.32%

Correlation

The correlation between GDXU and USAR is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (All Time) Calculated using the full available price history since Mar 14, 2025	0.23

Return for Risk

GDXU vs. USAR — Risk / Return Rank

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

GDXU

GDXU Risk / Return Rank: 19
GDXU Sharpe Ratio Rank: 13
GDXU Sortino Ratio Rank: 26
GDXU Omega Ratio Rank: 29
GDXU Calmar Ratio Rank: 14
GDXU Martin Ratio Rank: 14

USAR

USAR Risk / Return Rank: 61
USAR Sharpe Ratio Rank: 58
USAR Sortino Ratio Rank: 69
USAR Omega Ratio Rank: 63
USAR Calmar Ratio Rank: 59
USAR Martin Ratio Rank: 56

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. USAR - 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 USA Rare Earth, Inc (USAR). 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	USAR	Difference
Sharpe ratio: Return per unit of total volatility	0.22	0.42	-0.20
Sortino ratio: Return per unit of downside risk	1.27	1.55	-0.28
Omega ratio: Gain probability vs. loss probability	1.18	1.17	+0.01
Calmar ratio: Return relative to maximum drawdown	0.37	0.75	-0.37
Martin ratio: Return relative to average drawdown	0.80	1.22	-0.42

GDXU vs. USAR - Sharpe Ratio Comparison

The current GDXU Sharpe Ratio is 0.22, which is lower than the USAR Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of GDXU and USAR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GDXU vs. USAR - Drawdown Comparison

The maximum GDXU drawdown since its inception was -94.39%, which is greater than USAR's maximum drawdown of -69.23%. Use the drawdown chart below to compare losses from any high point for GDXU and USAR.

Drawdown Indicators

	GDXU	USAR	Difference
Max Drawdown Largest peak-to-trough decline	-94.39%	-69.23%	-25.16%
Max Drawdown (1Y) Largest decline over 1 year	-83.97%	-69.23%	-14.74%
Max Drawdown (3Y) Largest decline over 3 years	-83.97%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-92.44%	—	—
Current Drawdown Current decline from peak	-79.58%	-43.15%	-36.43%
Average Drawdown Average peak-to-trough decline	-69.77%	-40.87%	-28.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	38.59%	42.21%	-3.62%

Volatility

GDXU vs. USAR - Volatility Comparison

MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 (GDXU) has a higher volatility of 54.28% compared to USA Rare Earth, Inc (USAR) at 35.87%. This indicates that GDXU's price experiences larger fluctuations and is considered to be riskier than USAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDXU	USAR	Difference
Volatility (1M) Calculated over the trailing 1-month period	54.28%	35.87%	+18.41%
Volatility (6M) Calculated over the trailing 6-month period	123.72%	80.93%	+42.79%
Volatility (1Y) Calculated over the trailing 1-year period	142.00%	123.13%	+18.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	111.92%	158.43%	-46.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	110.82%	158.43%	-47.61%

Dividends

GDXU vs. USAR - Dividend Comparison

Neither GDXU nor USAR has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GDXU and USAR in my portfolio?

GDXU and USAR have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GDXU or USAR?

GDXU has higher volatility (54.28%) compared to USAR (35.87%). In terms of maximum drawdown, GDXU dropped -94.39% vs USAR's -69.23%.

Which has better risk-adjusted returns?

USAR currently has the higher Sharpe Ratio (0.42 vs 0.22), 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.