SLVU.TO vs. GDXU

Last updated Jun 25, 2026

SLVU.TO (BetaPro Silver 2x Daily Bull ETF) and GDXU (MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040) are both exchange-traded funds - SLVU.TO is a Silver fund tracking the Solactive Silver Front Month MD Rolling Futures Index ER, while GDXU is a Leveraged Equities fund tracking the S-Network MicroSectors Gold Miners Index. Both are passively managed. Over the past 5 years, SLVU.TO returned 3.82%/yr vs -10.54%/yr for GDXU. A 0.75 correlation means they provide meaningful diversification when combined. SLVU.TO charges 2.20%/yr vs 0.95%/yr for GDXU.

Performance

SLVU.TO vs. GDXU - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BetaPro Silver 2x Daily Bull ETF (SLVU.TO) and MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 (GDXU). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SLVU.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, SLVU.TO achieves a -60.26% return, which is significantly higher than GDXU's -64.81% return.

SLVU.TO

• 1D: -14.10%
• 1M: -49.31%
• YTD: -60.26%
• 6M: -62.81%
• 1Y: 29.95%
• 3Y*: 30.46%
• 5Y*: 3.82%
• 10Y*: 0.36%

GDXU

• 1D: -11.98%
• 1M: -39.66%
• YTD: -64.81%
• 6M: -69.68%
• 1Y: 18.55%
• 3Y*: 35.43%
• 5Y*: -10.54%
• 10Y*: —

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

SLVU.TO vs. GDXU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SLVU.TO BetaPro Silver 2x Daily Bull ETF	-60.26%	349.25%	20.60%	-15.93%	-10.22%	-34.60%	19.84%
GDXU MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040	-64.81%	755.54%	-11.71%	-23.23%	-60.46%	-54.96%	2.98%

Correlation

The correlation between SLVU.TO and GDXU is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since Dec 3, 2020	0.75

The correlation between SLVU.TO and GDXU has been stable across timeframes, ranging from 0.73 to 0.75 - a consistent structural relationship.

Return for Risk

SLVU.TO vs. GDXU — Risk / Return Rank

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

SLVU.TO

SLVU.TO Risk / Return Rank: 18
SLVU.TO Sharpe Ratio Rank: 13
SLVU.TO Sortino Ratio Rank: 23
SLVU.TO Omega Ratio Rank: 31
SLVU.TO Calmar Ratio Rank: 13
SLVU.TO Martin Ratio Rank: 12

GDXU

GDXU Risk / Return Rank: 16
GDXU Sharpe Ratio Rank: 10
GDXU Sortino Ratio Rank: 22
GDXU Omega Ratio Rank: 24
GDXU Calmar Ratio Rank: 11
GDXU Martin Ratio Rank: 10

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.

SLVU.TO vs. GDXU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BetaPro Silver 2x Daily Bull ETF (SLVU.TO) 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.

	SLVU.TO	GDXU	Difference
Sharpe ratio: Return per unit of total volatility	0.25	0.13	+0.12
Sortino ratio: Return per unit of downside risk	1.22	1.20	+0.02
Omega ratio: Gain probability vs. loss probability	1.20	1.16	+0.03
Calmar ratio: Return relative to maximum drawdown	0.36	0.22	+0.13
Martin ratio: Return relative to average drawdown	0.67	0.46	+0.21

SLVU.TO vs. GDXU - Sharpe Ratio Comparison

The current SLVU.TO Sharpe Ratio is 0.25, which is higher than the GDXU Sharpe Ratio of 0.13. The chart below compares the historical Sharpe Ratios of SLVU.TO 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

SLVU.TO vs. GDXU - Drawdown Comparison

The maximum SLVU.TO drawdown since its inception was -98.60%, roughly equal to the maximum GDXU drawdown of -94.06%. Use the drawdown chart below to compare losses from any high point for SLVU.TO and GDXU.

Drawdown Indicators

	SLVU.TO	GDXU	Difference
Max Drawdown Largest peak-to-trough decline	-98.60%	-94.06%	-4.54%
Max Drawdown (1Y) Largest decline over 1 year	-84.55%	-83.55%	-1.00%
Max Drawdown (3Y) Largest decline over 3 years	-84.55%	-83.55%	-1.00%
Max Drawdown (5Y) Largest decline over 5 years	-84.55%	-90.63%	+6.08%
Max Drawdown (10Y) Largest decline over 10 years	-84.55%	—	—
Current Drawdown Current decline from peak	-94.45%	-83.55%	-10.90%
Average Drawdown Average peak-to-trough decline	-84.41%	-69.13%	-15.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	44.54%	40.26%	+4.28%

Volatility

SLVU.TO vs. GDXU - Volatility Comparison

The current volatility for BetaPro Silver 2x Daily Bull ETF (SLVU.TO) is 31.58%, while MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 (GDXU) has a volatility of 56.19%. This indicates that SLVU.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.

Volatility by Period

	SLVU.TO	GDXU	Difference
Volatility (1M) Calculated over the trailing 1-month period	31.58%	56.19%	-24.61%
Volatility (6M) Calculated over the trailing 6-month period	134.38%	126.66%	+7.72%
Volatility (1Y) Calculated over the trailing 1-year period	121.93%	144.74%	-22.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	74.92%	112.57%	-37.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.14%	111.37%	-45.23%

SLVU.TO vs. GDXU - Expense Ratio Comparison

SLVU.TO has a 2.20% expense ratio, which is higher than GDXU's 0.95% expense ratio.

Dividends

SLVU.TO vs. GDXU - Dividend Comparison

Neither SLVU.TO nor GDXU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SLVU.TO and GDXU in my portfolio?

SLVU.TO and GDXU have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SLVU.TO or GDXU?

On fees, GDXU 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, SLVU.TO or GDXU?

GDXU is cheaper with a 0.95% expense ratio, compared with 2.20% for SLVU.TO.

What is the main difference between SLVU.TO and GDXU?

SLVU.TO is categorized as Silver, while GDXU is Leveraged Equities. SLVU.TO tracks Solactive Silver Front Month MD Rolling Futures Index ER, while GDXU tracks S-Network MicroSectors Gold Miners Index. They also come from different issuers: Global X and BMO. Their fees differ too: 2.20% for SLVU.TO and 0.95% for GDXU.