# GDXD (MicroSectors Gold Miners -3X Inverse Leveraged ETNs)

MicroSectors · Leveraged ETFs · data as of Sep 11, 2026

Three months to Sep 11, 2026: GDXD returned −61.8% where its own daily promise gave −61.9%, 0.1 points over.

## Key facts

- GDXD, what GDX did: +21.3%, as of Sep 11, 2026.
- GDXD, what −3 times a day gives: −61.9%, as of Sep 11, 2026.
- GDXD, what the fund returned: −61.8%, as of Sep 11, 2026.
- GDXD, the fund itself added: +0.1 pts, as of Sep 11, 2026.
- GDXD, expense ratio: not read by ETFIQ, as of Sep 11, 2026.
- GDXD, underlying: GDX, as of Sep 11, 2026.

## GDXD over each window to Sep 11, 2026

| Window | Fund | GDX | -3x the move | Difference | GDX moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −27.8% | +6.8% | −20.3% | −7.5 pts | 51% |
| 3 months | −61.8% | +21.3% | −64.0% | +2.2 pts | 50% |
| 6 months | −60.4% | +4.1% | −12.4% | −48.1 pts | 52% |
| 1 year | −92.7% | +40.2% | −120.5% | +27.8 pts | 51% |
| 3 years | −99.9% | +249.2% | not meaningful over this window | not meaningful over this window | 40% |
| Since launch | −100.0% | +194.6% | not meaningful over this window | not meaningful over this window | 37% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -3 times the daily move of GDX, reset daily | ETFIQ |
| Multiple a holder actually got over the window | -2.9 times, against -3 stated | ETFIQ |
| Underlying | GDX | ETFIQ |
| Segment | sector or country, index | ETFIQ |
| Expense ratio | not read by ETFIQ | ETFIQ |
| Launched | Dec 3, 2020 | ETFIQ |
| Underlying volatility over the window | 50% annualized | ETFIQ |

## Questions

### Did GDXD return -3 times GDX?

Over the window to Sep 11, 2026, GDX moved +21.3% and GDXD returned −61.8%. 3 times that move is −64.0%, so the fund came out 2.2 points ahead of it.

### Why does GDXD not return -3 times over a year?

Because it resets daily. GDXD aims at -3 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what -3 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.


## Cite this page

ETFIQ, GDXD, data as of Sep 11, 2026. https://etfiq.com/funds/GDXD
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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