PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
QQQ vs. GDXU
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QQQ vs. GDXU

Last updated Jun 13, 2026

QQQ (Invesco QQQ ETF) and GDXU (MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040) are both exchange-traded funds - QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while GDXU is a Leveraged Equities fund tracking the S-Network MicroSectors Gold Miners Index. Both are passively managed. Over the past 5 years, QQQ returned 16.85%/yr vs -14.73%/yr for GDXU. At a 0.25 correlation, their price movements are largely independent. QQQ charges 0.18%/yr vs 0.95%/yr for GDXU.

Performance

QQQ vs. GDXU - Performance Comparison

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

Loading charts...

Returns By Period

In the year-to-date period, QQQ achieves a 17.57% return, which is significantly higher than GDXU's -56.00% return.

QQQ

1D
0.59%
1M
0.93%
YTD
17.57%
6M
17.85%
1Y
35.82%
3Y*
26.43%
5Y*
16.85%
10Y*
21.79%

GDXU

1D
8.84%
1M
-50.11%
YTD
-56.00%
6M
-55.92%
1Y
30.95%
3Y*
37.87%
5Y*
-14.73%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

QQQ vs. GDXU - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
QQQ
Invesco QQQ ETF		17.57%20.77%25.58%54.86%-32.58%27.42%3.44%
GDXU
MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040		-56.00%796.47%-18.60%-21.36%-62.82%-54.93%4.32%

Correlation

The correlation between QQQ and GDXU is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.37

Correlation (3Y)
Calculated over the trailing 3-year period

0.26

Correlation (5Y)
Calculated over the trailing 5-year period

0.24

Correlation (All Time)
Calculated using the full available price history since Dec 3, 2020

0.25

The correlation between QQQ and GDXU shifts across timeframes, from 0.24 (5 years) to 0.37 (1 year), reflecting how their relationship changes across market environments.

QQQ vs. GDXU - Sectors Allocation Comparison

Sectors
QQQ
GDXU

Technology

53.8%

-

Communication Services

15.8%

-

Consumer Cyclical

12.3%

-

Consumer Defensive

7.7%

-

Healthcare

4.2%

-

Industrials

2.8%

-

Utilities

1.4%

-

Basic Materials

1.1%
100.0%

Energy

0.6%

-

Financial Services

0.2%

-

Real Estate

0.1%

-

Technology

QQQ
53.8%
GDXU

-

Communication Services

QQQ
15.8%
GDXU

-

Consumer Cyclical

QQQ
12.3%
GDXU

-

Consumer Defensive

QQQ
7.7%
GDXU

-

Healthcare

QQQ
4.2%
GDXU

-

Industrials

QQQ
2.8%
GDXU

-

Utilities

QQQ
1.4%
GDXU

-

Basic Materials

QQQ
1.1%
GDXU
100.0%

Energy

QQQ
0.6%
GDXU

-

Financial Services

QQQ
0.2%
GDXU

-

Real Estate

QQQ
0.1%
GDXU

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco QQQ ETF

MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040

Often compared with QQQ:
QQQ vs. SPYQQQ vs. VOOQQQ vs. VGTQQQ vs. TQQQQQQ vs. SMHQQQ vs. QQQMQQQ vs. QQQI
Often compared with GDXU:
GDXU vs. GDXGDXU vs. NUGTGDXU vs. GDXDGDXU vs. SHNYGDXU vs. XAUUSD=XGDXU vs. IAUMGDXU vs. DUST

Return for Risk

QQQ vs. GDXU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QQQ
QQQ Risk / Return Rank: 7171
Overall Rank
QQQ Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 7070
Sortino Ratio Rank
QQQ Omega Ratio Rank: 7373
Omega Ratio Rank
QQQ Calmar Ratio Rank: 6969
Calmar Ratio Rank
QQQ Martin Ratio Rank: 7070
Martin Ratio Rank
GDXU
GDXU Risk / Return Rank: 1919
Overall Rank
GDXU Sharpe Ratio Rank: 1313
Sharpe Ratio Rank
GDXU Sortino Ratio Rank: 2626
Sortino Ratio Rank
GDXU Omega Ratio Rank: 2929
Omega Ratio Rank
GDXU Calmar Ratio Rank: 1414
Calmar Ratio Rank
GDXU Martin Ratio Rank: 1414
Martin Ratio Rank
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.

QQQ vs. GDXU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ ETF (QQQ) 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.

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.

QQQGDXUDifference
Sharpe ratioReturn per unit of total volatility
2.09
0.22

+1.87

Sortino ratioReturn per unit of downside risk
2.73
1.27

+1.46

Omega ratioGain probability vs. loss probability

1.37

1.18

+0.19

Calmar ratioReturn relative to maximum drawdown

3.01

0.37

+2.64

Martin ratioReturn relative to average drawdown

11.22

0.80

+10.42

QQQ vs. GDXU - Sharpe Ratio Comparison

The current QQQ Sharpe Ratio is 2.09, which is higher than the GDXU Sharpe Ratio of 0.22. The chart below compares the historical Sharpe Ratios of QQQ 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.

Loading charts...

Drawdowns

QQQ vs. GDXU - Drawdown Comparison

The maximum QQQ drawdown since its inception was -82.97%, smaller than the maximum GDXU drawdown of -94.39%. Use the drawdown chart below to compare losses from any high point for QQQ and GDXU.

Loading charts...

Drawdown Indicators

QQQGDXUDifference

Max Drawdown

Largest peak-to-trough decline

-82.97%

-94.39%

+11.42%

Max Drawdown (1Y)

Largest decline over 1 year

-11.96%

-83.97%

+72.01%

Max Drawdown (3Y)

Largest decline over 3 years

-22.77%

-83.97%

+61.20%

Max Drawdown (5Y)

Largest decline over 5 years

-35.12%

-92.44%

+57.32%

Max Drawdown (10Y)

Largest decline over 10 years

-35.12%

—

—

Current Drawdown

Current decline from peak

-3.33%

-79.58%

+76.25%

Average Drawdown

Average peak-to-trough decline

-32.75%

-69.77%

+37.02%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.20%

38.59%

-35.39%

Volatility

QQQ vs. GDXU - Volatility Comparison

The current volatility for Invesco QQQ ETF (QQQ) is 7.56%, while MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 (GDXU) has a volatility of 54.28%. This indicates that QQQ 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.

Loading charts...

Volatility by Period

QQQGDXUDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.56%

54.28%

-46.72%

Volatility (6M)

Calculated over the trailing 6-month period

13.81%

123.72%

-109.91%

Volatility (1Y)

Calculated over the trailing 1-year period

17.19%

142.00%

-124.81%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.55%

111.92%

-89.37%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.38%

110.82%

-88.44%

QQQ vs. GDXU - Expense Ratio Comparison

QQQ has a 0.18% expense ratio, which is lower than GDXU's 0.95% expense ratio.

Dividends

QQQ vs. GDXU - Dividend Comparison

QQQ's dividend yield for the trailing twelve months is around 0.39%, while GDXU has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
GDXU
MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
QQQ
Invesco QQQ ETF		0.39%0.45%0.56%0.62%0.80%0.43%0.55%0.74%0.91%0.84%1.06%0.99%

Frequently Asked Questions

QQQ and GDXU have a correlation of 0.37, 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 QQQ (7.56%). In terms of maximum drawdown, QQQ dropped -82.97% vs GDXU's -94.39%.

On 5-year performance, QQQ leads with 16.85% vs -14.73% for GDXU. On fees, QQQ is cheaper at 0.18% per year. On volatility, QQQ has been the lower-risk option at 7.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, QQQ has performed better with a 16.85% return vs -14.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QQQ is cheaper with a 0.18% expense ratio, compared with 0.95% for GDXU.

QQQ has the higher dividend yield at 0.39%, compared with 0.00% for GDXU.

QQQ is categorized as Nasdaq-100, while GDXU is Leveraged Equities. QQQ tracks NASDAQ-100 Index, while GDXU tracks S-Network MicroSectors Gold Miners Index. They also come from different issuers: Invesco and BMO. Their fees differ too: 0.18% for QQQ and 0.95% for GDXU.

QQQ currently has the higher Sharpe Ratio (2.09 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.

Portfolio Optimizer

Find the right allocation for QQQ and GDXU

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer