HOOG vs. GOEX

Last updated Jun 4, 2026

HOOG (Leverage Shares 2X Long HOOD Daily ETF) and GOEX (Global X Gold Explorers ETF) are both exchange-traded funds - HOOG is a Leveraged Equities fund actively managed by Leverage Shares, while GOEX is a Materials fund tracking the Solactive Global Gold Explorers & Developers Total Return. HOOG is actively managed, while GOEX is passively managed. Over the past year, HOOG returned -29.31% vs 63.90% for GOEX. At a 0.19 correlation, their price movements are largely independent. HOOG charges 0.75%/yr vs 0.65%/yr for GOEX.

Performance

HOOG vs. GOEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long HOOD Daily ETF (HOOG) and Global X Gold Explorers ETF (GOEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HOOG achieves a -60.40% return, which is significantly lower than GOEX's -4.07% return.

HOOG

• 1D: -12.13%
• 1M: 10.59%
• YTD: -60.40%
• 6M: -72.73%
• 1Y: -29.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GOEX

• 1D: 1.00%
• 1M: -2.91%
• YTD: -4.07%
• 6M: 4.68%
• 1Y: 63.90%
• 3Y*: 46.37%
• 5Y*: 19.07%
• 10Y*: 13.71%

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

HOOG vs. GOEX - Yearly Performance Comparison

	2026 (YTD)	2025
HOOG Leverage Shares 2X Long HOOD Daily ETF	-60.40%	291.44%
GOEX Global X Gold Explorers ETF	-4.07%	123.72%

Correlation

The correlation between HOOG and GOEX 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 24, 2025	0.19

Return for Risk

HOOG vs. GOEX — Risk / Return Rank

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

HOOG

HOOG Risk / Return Rank: 9
HOOG Sharpe Ratio Rank: 6
HOOG Sortino Ratio Rank: 14
HOOG Omega Ratio Rank: 13
HOOG Calmar Ratio Rank: 6
HOOG Martin Ratio Rank: 6

GOEX

GOEX Risk / Return Rank: 36
GOEX Sharpe Ratio Rank: 37
GOEX Sortino Ratio Rank: 33
GOEX Omega Ratio Rank: 37
GOEX Calmar Ratio Rank: 40
GOEX Martin Ratio Rank: 33

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.

HOOG vs. GOEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long HOOD Daily ETF (HOOG) and Global X Gold Explorers ETF (GOEX). 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.

	HOOG	GOEX	Difference
Sharpe ratio: Return per unit of total volatility	-0.22	1.31	-1.52
Sortino ratio: Return per unit of downside risk	0.64	1.74	-1.10
Omega ratio: Gain probability vs. loss probability	1.07	1.24	-0.16
Calmar ratio: Return relative to maximum drawdown	-0.34	1.96	-2.30
Martin ratio: Return relative to average drawdown	-0.55	4.87	-5.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HOOG vs. GOEX - Sharpe Ratio Comparison

The current HOOG Sharpe Ratio is -0.22, which is lower than the GOEX Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of HOOG and GOEX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HOOG	GOEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.22	1.31	-1.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.49	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.34	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.02	+0.29

Drawdowns

HOOG vs. GOEX - Drawdown Comparison

The maximum HOOG drawdown since its inception was -86.94%, roughly equal to the maximum GOEX drawdown of -88.83%. Use the drawdown chart below to compare losses from any high point for HOOG and GOEX.

Drawdown Indicators

	HOOG	GOEX	Difference
Max Drawdown Largest peak-to-trough decline	-86.94%	-88.83%	+1.89%
Max Drawdown (1Y) Largest decline over 1 year	-86.94%	-32.78%	-54.16%
Max Drawdown (3Y) Largest decline over 3 years	—	-32.78%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-47.16%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-53.66%	—
Current Drawdown Current decline from peak	-81.53%	-29.20%	-52.33%
Average Drawdown Average peak-to-trough decline	-37.56%	-63.58%	+26.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	53.22%	13.17%	+40.05%

Volatility

HOOG vs. GOEX - Volatility Comparison

Leverage Shares 2X Long HOOD Daily ETF (HOOG) has a higher volatility of 41.51% compared to Global X Gold Explorers ETF (GOEX) at 14.65%. This indicates that HOOG's price experiences larger fluctuations and is considered to be riskier than GOEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HOOG	GOEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	41.51%	14.65%	+26.86%
Volatility (6M) Calculated over the trailing 6-month period	100.64%	39.88%	+60.76%
Volatility (1Y) Calculated over the trailing 1-year period	137.15%	49.12%	+88.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	144.88%	39.00%	+105.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	144.88%	39.96%	+104.92%

HOOG vs. GOEX - Expense Ratio Comparison

HOOG has a 0.75% expense ratio, which is higher than GOEX's 0.65% expense ratio.

Dividends

HOOG vs. GOEX - Dividend Comparison

HOOG's dividend yield for the trailing twelve months is around 31.07%, more than GOEX's 2.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GOEX Global X Gold Explorers ETF	2.17%	2.08%	2.46%	0.05%	1.04%	2.35%	2.62%	1.60%	0.00%	0.00%	38.91%	11.70%
HOOG Leverage Shares 2X Long HOOD Daily ETF	31.07%	12.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HOOG and GOEX in my portfolio?

HOOG and GOEX 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, HOOG or GOEX?

HOOG has higher volatility (41.51%) compared to GOEX (14.65%). In terms of maximum drawdown, HOOG dropped -86.94% vs GOEX's -88.83%.

Which ETF is better, HOOG or GOEX?

On 1-year performance, GOEX leads with 63.90% vs -29.31% for HOOG. On fees, GOEX is cheaper at 0.65% per year. On volatility, GOEX has been the lower-risk option at 14.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HOOG or GOEX?

Over the 1-year period, GOEX has performed better with a 63.90% return vs -29.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HOOG or GOEX?

GOEX is cheaper with a 0.65% expense ratio, compared with 0.75% for HOOG.

Which ETF pays a higher dividend yield, HOOG or GOEX?

HOOG has the higher dividend yield at 31.07%, compared with 2.17% for GOEX.

What is the main difference between HOOG and GOEX?

HOOG is categorized as Leveraged Equities, while GOEX is Materials. They also come from different issuers: Leverage Shares and Global X. Their fees differ too: 0.75% for HOOG and 0.65% for GOEX.

Which has better risk-adjusted returns?

GOEX currently has the higher Sharpe Ratio (1.31 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.