QCN.TO vs. GDXU
Compare and contrast key facts about Mackenzie Canadian Equity Index ETF (QCN.TO) and MicroSectors Gold Miners 3X Leveraged ETN (GDXU).
QCN.TO and GDXU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QCN.TO is a passively managed fund by Mackenzie that tracks the performance of the Solactive Canada Broad Market Index. It was launched on Jan 24, 2018. GDXU is a passively managed fund by BMO that tracks the performance of the S-Network MicroSectors Gold Miners Index. It was launched on Dec 2, 2020. Both QCN.TO and GDXU are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
QCN.TO vs. GDXU - Performance Comparison
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QCN.TO vs. GDXU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
QCN.TO Mackenzie Canadian Equity Index ETF | 4.40% | 31.83% | 21.95% | 11.28% | -5.45% | 24.65% | 1.21% |
GDXU MicroSectors Gold Miners 3X Leveraged ETN | -4.90% | 755.35% | -11.61% | -23.09% | -60.17% | -55.34% | 3.81% |
Different Trading Currencies
QCN.TO is traded in CAD, while GDXU is traded in USD. To make them comparable, the GDXU values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, QCN.TO achieves a 4.40% return, which is significantly higher than GDXU's -4.90% return.
QCN.TO
- 1D
- 0.59%
- 1M
- -4.48%
- YTD
- 4.40%
- 6M
- 10.59%
- 1Y
- 34.71%
- 3Y*
- 21.40%
- 5Y*
- 15.34%
- 10Y*
- —
GDXU
- 1D
- 13.46%
- 1M
- -50.72%
- YTD
- -4.90%
- 6M
- 8.61%
- 1Y
- 276.74%
- 3Y*
- 64.84%
- 5Y*
- 8.38%
- 10Y*
- —
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QCN.TO vs. GDXU - Expense Ratio Comparison
QCN.TO has a 0.04% expense ratio, which is lower than GDXU's 0.95% expense ratio.
Return for Risk
QCN.TO vs. GDXU — Risk / Return Rank
QCN.TO
GDXU
QCN.TO vs. GDXU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Mackenzie Canadian Equity Index ETF (QCN.TO) and MicroSectors Gold Miners 3X Leveraged ETN (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.
| QCN.TO | GDXU | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.27 | 2.02 | +0.25 |
Sortino ratioReturn per unit of downside risk | 2.88 | 2.35 | +0.53 |
Omega ratioGain probability vs. loss probability | 1.45 | 1.34 | +0.11 |
Calmar ratioReturn relative to maximum drawdown | 3.30 | 3.70 | -0.41 |
Martin ratioReturn relative to average drawdown | 14.55 | 10.40 | +4.15 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| QCN.TO | GDXU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.27 | 2.02 | +0.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.17 | 0.08 | +1.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.78 | 0.00 | +0.78 |
Correlation
The correlation between QCN.TO and GDXU is 0.42, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
QCN.TO vs. GDXU - Dividend Comparison
QCN.TO's dividend yield for the trailing twelve months is around 2.08%, while GDXU has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
QCN.TO Mackenzie Canadian Equity Index ETF | 2.08% | 2.19% | 2.74% | 3.37% | 3.26% | 2.45% | 3.02% | 3.07% | 2.73% |
GDXU MicroSectors Gold Miners 3X Leveraged ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
QCN.TO vs. GDXU - Drawdown Comparison
The maximum QCN.TO drawdown since its inception was -36.90%, smaller than the maximum GDXU drawdown of -93.99%. Use the drawdown chart below to compare losses from any high point for QCN.TO and GDXU.
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Drawdown Indicators
| QCN.TO | GDXU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.90% | -94.39% | +57.49% |
Max Drawdown (1Y)Largest decline over 1 year | -10.71% | -73.16% | +62.45% |
Max Drawdown (5Y)Largest decline over 5 years | -16.30% | -93.34% | +77.04% |
Current DrawdownCurrent decline from peak | -4.48% | -56.42% | +51.94% |
Average DrawdownAverage peak-to-trough decline | -3.70% | -69.97% | +66.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.43% | 26.08% | -23.65% |
Volatility
QCN.TO vs. GDXU - Volatility Comparison
The current volatility for Mackenzie Canadian Equity Index ETF (QCN.TO) is 5.92%, while MicroSectors Gold Miners 3X Leveraged ETN (GDXU) has a volatility of 52.69%. This indicates that QCN.TO 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.
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Volatility by Period
| QCN.TO | GDXU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.92% | 52.69% | -46.77% |
Volatility (6M)Calculated over the trailing 6-month period | 11.09% | 121.07% | -109.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.40% | 138.29% | -122.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.19% | 105.96% | -92.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.83% | 106.01% | -90.18% |