SHNY vs. IAUM

Last updated Apr 2, 2026

Compare and contrast key facts about MicroSectors Gold 3X Leveraged ETN (SHNY) and iShares Gold Trust Micro (IAUM).

SHNY and IAUM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SHNY is managed by BMO. It was launched on Feb 24, 2023. IAUM is a passively managed fund by iShares that tracks the performance of the LBMA Gold Price. It was launched on Jun 15, 2021.

Performance

SHNY vs. IAUM - Performance Comparison

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

SHNY vs. IAUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SHNY MicroSectors Gold 3X Leveraged ETN	11.56%	214.54%	50.30%	12.52%
IAUM iShares Gold Trust Micro	10.49%	64.27%	27.04%	13.00%

Returns By Period

In the year-to-date period, SHNY achieves a 11.56% return, which is significantly higher than IAUM's 10.49% return.

SHNY

• 1D: 5.04%
• 1M: -32.72%
• YTD: 11.56%
• 6M: 39.19%
• 1Y: 123.55%
• 3Y*: 69.59%
• 5Y*: —
• 10Y*: —

IAUM

• 1D: 1.71%
• 1M: -10.65%
• YTD: 10.49%
• 6M: 23.22%
• 1Y: 52.68%
• 3Y*: 34.12%
• 5Y*: —
• 10Y*: —

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

SHNY vs. IAUM - Expense Ratio Comparison

SHNY has a 0.95% expense ratio, which is higher than IAUM's 0.09% expense ratio.

SHNY

MicroSectors Gold 3X Leveraged ETN

IAUM

iShares Gold Trust Micro

Return for Risk

SHNY vs. IAUM — Risk / Return Rank

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

SHNY

SHNY Risk / Return Rank: 74
SHNY Sharpe Ratio Rank: 78
SHNY Sortino Ratio Rank: 75
SHNY Omega Ratio Rank: 74
SHNY Calmar Ratio Rank: 79
SHNY Martin Ratio Rank: 64

IAUM

IAUM Risk / Return Rank: 86
IAUM Sharpe Ratio Rank: 88
IAUM Sortino Ratio Rank: 85
IAUM Omega Ratio Rank: 85
IAUM Calmar Ratio Rank: 86
IAUM Martin Ratio Rank: 84

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. IAUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Gold 3X Leveraged ETN (SHNY) and iShares Gold Trust Micro (IAUM). 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	IAUM	Difference
Sharpe ratio Return per unit of total volatility	1.51	1.92	-0.42
Sortino ratio Return per unit of downside risk	1.94	2.35	-0.41
Omega ratio Gain probability vs. loss probability	1.29	1.35	-0.06
Calmar ratio Return relative to maximum drawdown	2.24	2.74	-0.49
Martin ratio Return relative to average drawdown	6.74	10.02	-3.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SHNY vs. IAUM - Sharpe Ratio Comparison

The current SHNY Sharpe Ratio is 1.51, which is comparable to the IAUM Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of SHNY and IAUM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SHNY	IAUM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.51	1.92	-0.42
Sharpe Ratio (All Time) Calculated using the full available price history	1.34	1.31	+0.03

Correlation

The correlation between SHNY and IAUM is 1.00, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

SHNY vs. IAUM - Dividend Comparison

Neither SHNY nor IAUM has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

SHNY vs. IAUM - Drawdown Comparison

The maximum SHNY drawdown since its inception was -54.35%, which is greater than IAUM's maximum drawdown of -20.87%. Use the drawdown chart below to compare losses from any high point for SHNY and IAUM.

Drawdown Indicators

	SHNY	IAUM	Difference
Max Drawdown Largest peak-to-trough decline	-54.35%	-20.87%	-33.48%
Max Drawdown (1Y) Largest decline over 1 year	-54.35%	-19.15%	-35.20%
Current Drawdown Current decline from peak	-41.30%	-11.69%	-29.61%
Average Drawdown Average peak-to-trough decline	-13.16%	-4.99%	-8.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.10%	5.23%	+12.87%

Volatility

SHNY vs. IAUM - Volatility Comparison

MicroSectors Gold 3X Leveraged ETN (SHNY) has a higher volatility of 31.37% compared to iShares Gold Trust Micro (IAUM) at 10.38%. This indicates that SHNY's price experiences larger fluctuations and is considered to be riskier than IAUM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHNY	IAUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	31.37%	10.38%	+20.99%
Volatility (6M) Calculated over the trailing 6-month period	74.62%	24.00%	+50.62%
Volatility (1Y) Calculated over the trailing 1-year period	82.54%	27.53%	+55.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.30%	17.79%	+40.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	58.30%	17.79%	+40.51%