# GDXU (MicroSectors Gold Miners 3X Leveraged ETN)

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

Three months to Sep 11, 2026: GDXU returned +39.3% where its own daily promise gave +50.4%, 11.1 points short.

## Key facts

- GDXU, what GDX did: +21.3%, as of Sep 11, 2026.
- GDXU, what +3 times a day gives: +50.4%, as of Sep 11, 2026.
- GDXU, what the fund returned: +39.3%, as of Sep 11, 2026.
- GDXU, the fund itself cost: −11.1 pts, as of Sep 11, 2026.
- GDXU, expense ratio: not read by ETFIQ, as of Sep 11, 2026.
- GDXU, underlying: GDX, as of Sep 11, 2026.

## GDXU over each window to Sep 11, 2026

| Window | Fund | GDX | +3x the move | Difference | GDX moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +10.4% | +6.8% | +20.3% | −9.8 pts | 51% |
| 3 months | +39.3% | +21.3% | +64.0% | −24.7 pts | 50% |
| 6 months | −36.2% | +4.1% | +12.4% | −48.5 pts | 52% |
| 1 year | −6.2% | +40.2% | +120.5% | −126.7 pts | 51% |
| 3 years | +405.1% | +249.2% | not meaningful over this window | not meaningful over this window | 40% |
| Since launch | −38.3% | +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 | +1.84 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 GDXU return +3 times GDX?

Over the window to Sep 11, 2026, GDX moved +21.3% and GDXU returned +39.3%. 3 times that move is +64.0%, so the fund came out 24.7 points short of it.

### Why does GDXU not return +3 times over a year?

Because it resets daily. GDXU 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, GDXU, data as of Sep 11, 2026. https://etfiq.com/funds/GDXU
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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