PPTA vs. GDXU

Last updated Jun 9, 2026

PPTA (Perpetua Resources Corp) is a stock, while GDXU (MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040) is Leveraged Equities fund tracking the S-Network MicroSectors Gold Miners Index. Over the past 5 years, PPTA returned 22.69%/yr vs -14.72%/yr for GDXU. A 0.51 correlation means they provide meaningful diversification when combined.

Performance

PPTA vs. GDXU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Perpetua Resources Corp (PPTA) and MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 (GDXU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PPTA achieves a -5.37% return, which is significantly higher than GDXU's -57.47% return.

PPTA

• 1D: 1.15%
• 1M: -23.51%
• YTD: -5.37%
• 6M: -9.30%
• 1Y: 31.89%
• 3Y*: 71.90%
• 5Y*: 22.69%
• 10Y*: —

GDXU

• 1D: -0.54%
• 1M: -49.20%
• YTD: -57.47%
• 6M: -46.20%
• 1Y: 38.54%
• 3Y*: 35.00%
• 5Y*: -14.72%
• 10Y*: —

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

PPTA vs. GDXU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PPTA Perpetua Resources Corp	-5.37%	126.90%	236.59%	8.56%	-38.53%	-41.36%
GDXU MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040	-57.47%	796.47%	-18.60%	-21.36%	-62.82%	-33.84%

Correlation

The correlation between PPTA and GDXU is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (All Time) Calculated using the full available price history since Feb 19, 2021	0.51

The correlation between PPTA and GDXU shifts across timeframes, from 0.51 (all time) to 0.68 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

PPTA vs. GDXU — Risk / Return Rank

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

PPTA

PPTA Risk / Return Rank: 58
PPTA Sharpe Ratio Rank: 57
PPTA Sortino Ratio Rank: 57
PPTA Omega Ratio Rank: 57
PPTA Calmar Ratio Rank: 60
PPTA Martin Ratio Rank: 61

GDXU

GDXU Risk / Return Rank: 20
GDXU Sharpe Ratio Rank: 14
GDXU Sortino Ratio Rank: 26
GDXU Omega Ratio Rank: 30
GDXU Calmar Ratio Rank: 16
GDXU Martin Ratio Rank: 14

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.

PPTA vs. GDXU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Perpetua Resources Corp (PPTA) and MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 (GDXU). 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.

	PPTA	GDXU	Difference
Sharpe ratio: Return per unit of total volatility	0.43	0.28	+0.15
Sortino ratio: Return per unit of downside risk	1.06	1.32	-0.26
Omega ratio: Gain probability vs. loss probability	1.14	1.18	-0.05
Calmar ratio: Return relative to maximum drawdown	0.82	0.48	+0.34
Martin ratio: Return relative to average drawdown	1.90	1.04	+0.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PPTA vs. GDXU - Sharpe Ratio Comparison

The current PPTA Sharpe Ratio is 0.43, which is higher than the GDXU Sharpe Ratio of 0.28. The chart below compares the historical Sharpe Ratios of PPTA and GDXU, 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

	PPTA	GDXU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.43	0.28	+0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	-0.13	+0.45
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	-0.13	+0.43

Drawdowns

PPTA vs. GDXU - Drawdown Comparison

The maximum PPTA drawdown since its inception was -81.78%, smaller than the maximum GDXU drawdown of -94.39%. Use the drawdown chart below to compare losses from any high point for PPTA and GDXU.

Drawdown Indicators

	PPTA	GDXU	Difference
Max Drawdown Largest peak-to-trough decline	-81.78%	-94.39%	+12.61%
Max Drawdown (1Y) Largest decline over 1 year	-39.15%	-80.26%	+41.11%
Max Drawdown (3Y) Largest decline over 3 years	-39.62%	-80.26%	+40.64%
Max Drawdown (5Y) Largest decline over 5 years	-81.78%	-92.93%	+11.15%
Current Drawdown Current decline from peak	-38.45%	-80.26%	+41.81%
Average Drawdown Average peak-to-trough decline	-38.73%	-69.78%	+31.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.92%	37.20%	-20.28%

Volatility

PPTA vs. GDXU - Volatility Comparison

The current volatility for Perpetua Resources Corp (PPTA) is 24.72%, while MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 (GDXU) has a volatility of 50.50%. This indicates that PPTA experiences smaller price fluctuations and is considered to be less risky than GDXU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PPTA	GDXU	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.72%	50.50%	-25.78%
Volatility (6M) Calculated over the trailing 6-month period	55.73%	122.03%	-66.30%
Volatility (1Y) Calculated over the trailing 1-year period	75.03%	140.25%	-65.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.85%	111.49%	-39.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.00%	110.52%	-38.52%

Dividends

PPTA vs. GDXU - Dividend Comparison

Neither PPTA nor GDXU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both PPTA and GDXU in my portfolio?

PPTA and GDXU have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PPTA or GDXU?

GDXU has higher volatility (50.50%) compared to PPTA (24.72%). In terms of maximum drawdown, PPTA dropped -81.78% vs GDXU's -94.39%.

Which has better risk-adjusted returns?

PPTA currently has the higher Sharpe Ratio (0.43 vs 0.28), 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.