# SHNY (MicroSectors Gold 3X Leveraged ETNs due January 29, 2043)

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

Three months to Sep 11, 2026: SHNY returned −0.5% where its own daily promise gave +4.8%, 5.4 points short.

## Key facts

- SHNY, what GLD did: +3.2%, as of Sep 11, 2026.
- SHNY, what +3 times a day gives: +4.8%, as of Sep 11, 2026.
- SHNY, what the fund returned: −0.5%, as of Sep 11, 2026.
- SHNY, the fund itself cost: −5.4 pts, as of Sep 11, 2026.
- SHNY, expense ratio: not read by ETFIQ, as of Sep 11, 2026.
- SHNY, underlying: GLD, as of Sep 11, 2026.

## SHNY over each window to Sep 11, 2026

| Window | Fund | GLD | +3x the move | Difference | GLD moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −7.8% | −1.5% | −4.6% | −3.3 pts | 27% |
| 3 months | −0.5% | +3.2% | +9.5% | −10.0 pts | 25% |
| 6 months | −47.5% | −13.5% | −40.4% | −7.1 pts | 27% |
| 1 year | +5.4% | +19.1% | +57.4% | −52.0 pts | 29% |
| 3 years | +286.1% | +124.7% | not meaningful over this window | not meaningful over this window | 21% |
| Since launch | +278.9% | +135.0% | not meaningful over this window | not meaningful over this window | 20% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +3 times the daily move of GLD, reset daily | ETFIQ |
| Multiple a holder actually got over the window | GLD moved +3.2% over this window, too little to read a multiple from | ETFIQ |
| Underlying | GLD | ETFIQ |
| Segment | sector or country, index | ETFIQ |
| Expense ratio | not read by ETFIQ | ETFIQ |
| Launched | Feb 22, 2023 | ETFIQ |
| Underlying volatility over the window | 25% annualized | ETFIQ |

## Questions

### Did SHNY return +3 times GLD?

Over the window to Sep 11, 2026, GLD moved +3.2% and SHNY returned −0.5%. 3 times that move is +9.5%, so the fund came out 10.0 points short of it.

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

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

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