QTUM vs. GDXU

Last updated Aug 1, 2026

QTUM (Defiance Quantum ETF) and GDXU (MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040) are both exchange-traded funds - QTUM is a Technology Equities fund tracking the BlueStar Machine Learning and Quantum Computing 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, QTUM returned 24.56%/yr vs -14.38%/yr for GDXU. Their 0.33 correlation means their historical movements had little consistent relationship. QTUM charges 0.40%/yr vs 0.95%/yr for GDXU.

Performance

QTUM vs. GDXU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Quantum ETF (QTUM) 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, QTUM achieves a 29.28% return, which is significantly higher than GDXU's -69.22% return.

QTUM

• 1D: 0.67%
• 1M: -11.92%
• 6M: 22.33%
• YTD: 29.28%
• 1Y: 55.03%
• 3Y*: 39.51%
• 5Y*: 24.56%
• 10Y*: —
• ALL TIME*: 25.62%

GDXU

• 1D: -10.43%
• 1M: -11.49%
• 6M: -73.59%
• YTD: -69.22%
• 1Y: 12.97%
• 3Y*: 27.81%
• 5Y*: -14.38%
• 10Y*: —
• ALL TIME*: -18.76%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GDXU MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040	$99.61M	$115.40M	$172.82M
QTUM Defiance Quantum ETF	$54.21M	$61.13M	$111.15M

QTUM vs. GDXU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
QTUM Defiance Quantum ETF	29.28%	36.65%	50.54%	39.86%	-28.80%	35.18%	4.35%
GDXU MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040	-69.22%	796.47%	-18.60%	-21.36%	-62.82%	-54.93%	4.32%

Correlation

The correlation between QTUM and GDXU is 0.43, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.43
Correlation (3Y) Balances recent behavior with more history.	0.32
Correlation (5Y) Shows whether the relationship held over a longer period.	0.32
Correlation (All Time) Calculated using the full available price history since Dec 3, 2020	0.33

The correlation between QTUM and GDXU shifts across timeframes, from 0.32 (5 years) to 0.43 (1 year), reflecting how their relationship changes across market environments.

QTUM vs. GDXU - Sectors Allocation Comparison

Sectors	QTUM	GDXU
Technology	81.4%	-
Industrials	8.9%	-
Communication Services	6.6%	-
Consumer Cyclical	2.0%	-
Healthcare	1.2%	-
Financial Services	0.0%	-
Basic Materials	-	100.0%
Consumer Defensive	-	-
Energy	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

QTUM vs. GDXU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

QTUM

QTUM Risk / Return Rank: 74
QTUM Sharpe Ratio Rank: 77
QTUM Sortino Ratio Rank: 71
QTUM Omega Ratio Rank: 70
QTUM Calmar Ratio Rank: 74
QTUM Martin Ratio Rank: 76

GDXU

GDXU Risk / Return Rank: 20
GDXU Sharpe Ratio Rank: 12
GDXU Sortino Ratio Rank: 31
GDXU Omega Ratio Rank: 33
GDXU Calmar Ratio Rank: 13
GDXU Martin Ratio Rank: 13

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

QTUM vs. GDXU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Quantum ETF (QTUM) 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.

	QTUM	GDXU	Difference
Sharpe ratio: Return per unit of total volatility	1.75	0.09	+1.66
Sortino ratio: Return per unit of downside risk	2.29	1.17	+1.12
Omega ratio: Gain probability vs. loss probability	1.29	1.15	+0.13
Calmar ratio: Return relative to maximum drawdown	2.57	0.15	+2.42
Martin ratio: Return relative to average drawdown	9.41	0.27	+9.14

QTUM vs. GDXU - Sharpe Ratio Comparison

The current QTUM Sharpe Ratio is 1.75, which is higher than the GDXU Sharpe Ratio of 0.09. The chart below compares the historical Sharpe Ratios of QTUM 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.

Drawdowns

QTUM vs. GDXU - Drawdown Comparison

The maximum QTUM drawdown since its inception was -38.45%, smaller than the maximum GDXU drawdown of -94.39%. Use the drawdown chart below to compare losses from any high point for QTUM and GDXU.

Drawdown Indicators

	QTUM	GDXU	Difference
Max Drawdown Largest peak-to-trough decline	-38.45%	-94.39%	+55.94%
Max Drawdown (1Y) Largest decline over 1 year	-21.51%	-87.14%	+65.63%
Max Drawdown (3Y) Largest decline over 3 years	-25.39%	-87.14%	+61.75%
Max Drawdown (5Y) Largest decline over 5 years	-38.45%	-91.30%	+52.85%
Current Drawdown Current decline from peak	-16.16%	-85.71%	+69.55%
Average Drawdown Average peak-to-trough decline	-8.27%	-70.08%	+61.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.87%	48.64%	-42.77%

Volatility

QTUM vs. GDXU - Volatility Comparison

The current volatility for Defiance Quantum ETF (QTUM) is 11.38%, while MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 (GDXU) has a volatility of 38.79%. This indicates that QTUM 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

	QTUM	GDXU	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.38%	38.79%	-27.41%
Volatility (6M) Calculated over the trailing 6-month period	26.47%	125.93%	-99.46%
Volatility (1Y) Calculated over the trailing 1-year period	31.67%	147.32%	-115.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.69%	113.44%	-85.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.69%	111.56%	-83.87%

QTUM vs. GDXU - Expense Ratio Comparison

QTUM has a 0.40% expense ratio, which is lower than GDXU's 0.95% expense ratio.

Dividends

QTUM vs. GDXU - Dividend Comparison

QTUM's dividend yield for the trailing twelve months is around 0.83%, while GDXU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
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%
QTUM Defiance Quantum ETF	0.83%	1.01%	0.61%	0.81%	1.46%	0.48%	0.42%	0.61%	0.21%

Frequently Asked Questions

Can I hold both QTUM and GDXU in my portfolio?

QTUM and GDXU have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QTUM or GDXU?

GDXU has higher volatility (38.79%) compared to QTUM (11.38%). In terms of maximum drawdown, QTUM dropped -38.45% vs GDXU's -94.39%.

Which ETF is better, QTUM or GDXU?

On 5-year performance, QTUM leads with 24.56% vs -14.38% for GDXU. On fees, QTUM is cheaper at 0.40% per year. On volatility, QTUM has been the lower-risk option at 11.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QTUM or GDXU?

Over the 5-year period, QTUM has performed better with a 24.56% return vs -14.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QTUM or GDXU?

QTUM is cheaper with a 0.40% expense ratio, compared with 0.95% for GDXU.

Which ETF pays a higher dividend yield, QTUM or GDXU?

QTUM has the higher dividend yield at 0.83%, compared with 0.00% for GDXU.

What is the main difference between QTUM and GDXU?

QTUM is categorized as Technology Equities, while GDXU is Leveraged Equities. QTUM tracks BlueStar Machine Learning and Quantum Computing Index, while GDXU tracks S-Network MicroSectors Gold Miners Index. They also come from different issuers: Defiance and BMO. Their fees differ too: 0.40% for QTUM and 0.95% for GDXU.

Which has better risk-adjusted returns?

QTUM currently has the higher Sharpe Ratio (1.75 vs 0.09), 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.