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

MicroSectors · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: SHNY returned −1.6% where its own daily promise gave +3.6%, 5.3 points short.

## Key facts

- SHNY, what GLD did: +2.8%, as of Sep 30, 2026.
- SHNY, what 3 times a day gives: +3.6%, as of Sep 30, 2026.
- SHNY, what the fund returned: −1.6%, as of Sep 30, 2026.
- SHNY, the fund itself cost: −5.3 pts, as of Sep 30, 2026.
- SHNY, net assets: an exchange traded note holds no assets; it is the issuing bank’s unsecured debt, as of Sep 30, 2026.
- SHNY, expense ratio: not read by ETFIQ, as of Sep 30, 2026.

## SHNY over each window to Sep 30, 2026

| Window | Fund | GLD | +3x the move | Difference | GLD moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −21.4% | −6.8% | −20.3% | −1.1 pts | 24% |
| 3 months | −1.6% | +2.8% | +8.3% | −9.9 pts | 25% |
| 6 months | −45.5% | −13.0% | −39.0% | −6.4 pts | 24% |
| 1 year | −23.8% | +7.1% | +21.4% | −45.2 pts | 30% |
| 3 years | +270.3% | +122.1% | not meaningful over this window | not meaningful over this window | 22% |
| Since launch | +223.6% | +124.5% | 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 +2.8% over this window, too little to read a multiple from | ETFIQ |
| Underlying | GLD | ETFIQ |
| Segment | sector or country, index | ETFIQ |
| Net assets | an exchange traded note holds no assets; it is the issuing bank’s unsecured debt | 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 30, 2026, GLD moved +2.8% and SHNY returned −1.6%. 3 times that move is +8.3%, so the fund came out 9.9 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 30, 2026. https://etfiq.com/funds/shny
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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