GDXUMicroSectors Gold Miners 3X Leveraged ETNs
Each ETN offers investors a return based on changes in the level of the S-Network MicroSectors Gold Miners Index, compounded daily.
By BMO Capital Markets · Launched 2020
0.95%
#4,691 of 5,568 · expensive
$1.4B
#927 of 5,568 · large
+41.3%
5 years
#2,248 of 5,568 · seasoned
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
Classification
How Beacon categorizes this fundWhat it actually holds
By weightConcentration
Top 2 holdings = 100.0% of fundconcentrated
Asset allocation
By sector
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsYear-on-year price swings
Worst peak-to-trough loss
Where to buy
Listing
- Exchange
- NYSE Arca
Full fund details
- Objective
- Each ETN offers investors a return based on changes in the level of the S-Network MicroSectors Gold Miners Index, compounded daily.
- Strategy
- The ETNs are linked to the S-Network MicroSectors Gold Miners Index, which tracks the performance of the VanEck Gold Miners ETF and the VanEck Junior Gold Miners ETF, with a daily reset of leverage.
- Inception date
- December 2, 2020
- Fund family
- BMO Capital Markets
Similar ETFs
Closest matches by profileOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
Leveraged ETF — not a long-term hold
This fund uses leverage to amplify daily returns (e.g. 2x or 3x of an index). Daily rebalancing creates volatility decay — over weeks and months, the fund's return drifts from the stated multiple. In trending markets with low realised volatility, leveraged index ETFs can outperform their nominal multiple; in sideways or volatile markets they bleed. Designed for short-term tactical use, not buy-and-hold.
Source: Cheng & Madhavan, 'The Dynamics of Leveraged and Inverse ETFs' (2009)
Why we flagged this: strategy=leveraged + leveraged_name_or_strategy
Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More
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Data updated on 2026-06-20