SHNY vs. GLDW

Last updated Jun 4, 2026

SHNY (MicroSectors Gold 3X Leveraged ETN) and GLDW (Roundhill Gold WeeklyPay ETF) are both exchange-traded funds - SHNY is a Leveraged Commodities fund managed by BMO, while GLDW is a Derivative Income fund actively managed by State Street. With a 1.00 correlation, they move nearly in lockstep. SHNY charges 0.95%/yr vs 0.99%/yr for GLDW.

Performance

SHNY vs. GLDW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Gold 3X Leveraged ETN (SHNY) and Roundhill Gold WeeklyPay ETF (GLDW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SHNY achieves a -14.45% return, which is significantly lower than GLDW's 1.00% return.

SHNY

• 1D: -3.20%
• 1M: -7.37%
• YTD: -14.45%
• 6M: -10.44%
• 1Y: 49.39%
• 3Y*: 59.66%
• 5Y*: —
• 10Y*: —

GLDW

• 1D: -1.20%
• 1M: -2.48%
• YTD: 1.00%
• 6M: 3.47%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SHNY vs. GLDW - Yearly Performance Comparison

	2026 (YTD)	2025
SHNY MicroSectors Gold 3X Leveraged ETN	-14.45%	16.40%
GLDW Roundhill Gold WeeklyPay ETF	1.00%	7.63%

Correlation

The correlation between SHNY and GLDW is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 31, 2025	1.00

Return for Risk

SHNY vs. GLDW — Risk / Return Rank

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

SHNY

SHNY Risk / Return Rank: 21
SHNY Sharpe Ratio Rank: 19
SHNY Sortino Ratio Rank: 23
SHNY Omega Ratio Rank: 27
SHNY Calmar Ratio Rank: 20
SHNY Martin Ratio Rank: 18

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.

SHNY vs. GLDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Gold 3X Leveraged ETN (SHNY) and Roundhill Gold WeeklyPay ETF (GLDW). 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.

	SHNY	GLDW	Difference
Sharpe ratio: Return per unit of total volatility	0.63	—	—
Sortino ratio: Return per unit of downside risk	1.24	—	—
Omega ratio: Gain probability vs. loss probability	1.19	—	—
Calmar ratio: Return relative to maximum drawdown	0.90	—	—
Martin ratio: Return relative to average drawdown	1.93	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SHNY	GLDW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.63	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.01	0.42	+0.60

Drawdowns

SHNY vs. GLDW - Drawdown Comparison

The maximum SHNY drawdown since its inception was -54.99%, which is greater than GLDW's maximum drawdown of -23.59%. Use the drawdown chart below to compare losses from any high point for SHNY and GLDW.

Drawdown Indicators

	SHNY	GLDW	Difference
Max Drawdown Largest peak-to-trough decline	-54.99%	-23.59%	-31.40%
Max Drawdown (1Y) Largest decline over 1 year	-54.99%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-54.99%	—	—
Current Drawdown Current decline from peak	-54.99%	-22.51%	-32.48%
Average Drawdown Average peak-to-trough decline	-14.94%	-8.93%	-6.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.66%	—	—

Volatility

Volatility by Period

	SHNY	GLDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.40%	—	—
Volatility (6M) Calculated over the trailing 6-month period	70.87%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	78.80%	36.90%	+41.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.36%	36.90%	+21.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	58.36%	36.90%	+21.46%

SHNY vs. GLDW - Expense Ratio Comparison

SHNY has a 0.95% expense ratio, which is lower than GLDW's 0.99% expense ratio.

Dividends

SHNY vs. GLDW - Dividend Comparison

SHNY has not paid dividends to shareholders, while GLDW's dividend yield for the trailing twelve months is around 19.48%.

Position	TTM	2025
GLDW Roundhill Gold WeeklyPay ETF	19.48%	3.75%
SHNY MicroSectors Gold 3X Leveraged ETN	0.00%	0.00%

Frequently Asked Questions

Can I hold both SHNY and GLDW in my portfolio?

With a correlation of 1.00, SHNY and GLDW move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, SHNY or GLDW?

On fees, SHNY is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SHNY or GLDW?

SHNY is cheaper with a 0.95% expense ratio, compared with 0.99% for GLDW.

Which ETF pays a higher dividend yield, SHNY or GLDW?

GLDW has the higher dividend yield at 19.48%, compared with 0.00% for SHNY.

What is the main difference between SHNY and GLDW?

SHNY is categorized as Leveraged Commodities, while GLDW is Derivative Income. They also come from different issuers: BMO and State Street. Their fees differ too: 0.95% for SHNY and 0.99% for GLDW.