GDXU ETF — Holdings & Analysis

For informational purposes only. Not financial advice.

Quick Answer

The MicroSectors Gold Miners 3X Leveraged ETN (GDXU) is designed for short-term tactical trading, offering a 3x daily leveraged exposure to the S-Network MicroSectors Gold Miners Index.

With $1.27 billion in assets under management and an expense ratio of 0.95%, GDXU provides concentrated exposure to gold mining companies through two underlying ETFs. Due to its leveraged nature, GDXU is not suitable for long-term investment and carries significant risk, as returns can deviate substantially from the 3x target if held for more than a day. Past performance does not guarantee future results.

MicroSectors Gold Miners 3X Leveraged ETN (GDXU) ETF — Price, Holdings & Analysis

The MicroSectors Gold Miners 3X Leveraged ETN (GDXU) is designed for short-term tactical trading, offering a 3x daily leveraged exposure to the S-Network MicroSectors Gold Miners Index. With $1.27 billion in assets under management and an expense ratio of 0.95%, GDXU provides concentrated exposure to gold mining companies through two underlying ETFs. Due to its leveraged nature, GDXU is not suitable for long-term investment and carries significant risk, as returns can deviate substantially from the 3x target if held for more than a day. Past performance does not guarantee future results.

ETF Overview

GDXU is a note that provides 3x daily leveraged exposure. As such, it is not a buy-and-hold product, and is best designed for short-term tactical trading purposes only. Returns can vary significantly from 3x exposure to its underlying index if held for longer than a day. GDXU`s underlying index, the S-Network MicroSectors Gold Miners Index, is comprised of two established ETFs, namely: VanEck Gold Miners ETF (GDX) and VanEck Junior Gold Miners ETF (GDXJ), which primarily invest in the global gold mining industry. Both ETFs select and weight its constituents by market cap. Knowledge of the benefits and risks is paramount before investing in this product.

GDXU provides a 3x leveraged exposure to the daily performance of the S-Network MicroSectors Gold Miners Index, which tracks the performance of two VanEck ETFs: the VanEck Gold Miners ETF (GDX) and the VanEck Junior Gold Miners ETF (GDXJ). GDXU is designed exclusively for short-term tactical trading strategies, aiming to amplify daily gains (or losses) in the gold mining sector. The fund achieves this leveraged exposure through a combination of financial instruments, rebalancing its portfolio daily to maintain the 3x leverage factor. The top holdings are the VanEck Gold Miners ETF (GDX) at 72.54% and the VanEck Junior Gold Miners ETF (GDXJ) at 27.46%. Given its structure, GDXU is not intended for buy-and-hold investors, as its returns can vary significantly from the 3x target over longer periods due to the effects of compounding and daily rebalancing. Investors should possess a strong understanding of leveraged ETFs and their associated risks before considering GDXU. Past performance does not guarantee future results.

Risk Metrics

GDXU carries a high degree of risk due to its 3x leveraged exposure. The fund's beta of 2.64 (3Y) indicates significantly higher volatility compared to the broader market. The daily rebalancing to maintain the 3x leverage can lead to substantial losses, especially in volatile market conditions. The concentration of holdings, with 100% allocated to the basic materials sector, further amplifies risk, as the fund's performance is heavily dependent on the gold mining industry. The expense ratio of 0.95% also contributes to the overall cost of investing in GDXU, potentially eroding returns over time, especially if held for longer periods. Due to its leveraged nature, GDXU is not suitable for risk-averse investors or those with a long-term investment horizon. Investors should carefully consider their risk tolerance and investment objectives before investing in GDXU. Past performance does not guarantee future results.

Expense Ratio

0.95%

What does GDXU hold?

Holding	Weight
VanEck Gold Miners ETF (GDX)	72.54%
VanEck Junior Gold Miners ETF (GDXJ)	27.46%

How Is the Fund Allocated?

Sector	Weight
Basic Materials	100.0%

Dividend Yield

0.00%

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MicroSectors Gold Miners -3X Inverse Leveraged ETNs (GDXD) (Equity) — 0.95% expense ratio

Risk Metrics

Beta: 2.64

Questions & Answers

What is GDXU and what does it track?

The MicroSectors Gold Miners 3X Leveraged ETN (GDXU) is an exchange-traded note that seeks to provide a 3x leveraged return on the daily performance of the S-Network MicroSectors Gold Miners Index.

This index comprises two ETFs: the VanEck Gold Miners ETF (GDX) and the VanEck Junior Gold Miners ETF (GDXJ), which invest in global gold mining companies.

What is the expense ratio for GDXU?

The expense ratio for the MicroSectors Gold Miners 3X Leveraged ETN (GDXU) is 0.95%. This means that for every $1000 invested in the fund, $9.50 is used to cover the fund's operating expenses annually.

While there isn't a defined category average for leveraged ETNs, this expense ratio is relatively high compared to broad market equity ETFs.

What are the top holdings in GDXU?

As of 2026-03-15, the top holdings in the MicroSectors Gold Miners 3X Leveraged ETN (GDXU) are heavily concentrated in two ETFs that track the gold mining industry.

The top holding is the VanEck Gold Miners ETF (GDX), with a weight of 72.54%. The second largest holding is the VanEck Junior Gold Miners ETF (GDXJ), which constitutes 27.46% of GDXU's portfolio.

Is GDXU a good long-term investment?

The MicroSectors Gold Miners 3X Leveraged ETN (GDXU) is generally not considered suitable for long-term investment strategies. GDXU is designed to provide a 3x leveraged return on the daily performance of the S-Network MicroSectors Gold Miners Index.

How does GDXU compare to similar ETFs?

GDXU stands out due to its 3x daily leverage, differentiating it from non-leveraged gold miner ETFs. Its expense ratio is 0.95%.

While there are other leveraged ETFs in the market, GDXU specifically targets the gold mining sector through its underlying index. With AUM of $1.27 billion, GDXU is a relatively large leveraged ETN, suggesting significant investor interest.

Does GDXU pay dividends?

As of 2026-03-15, the MicroSectors Gold Miners 3X Leveraged ETN (GDXU) does not pay dividends. Its dividend yield is 0.00%.

This is typical for leveraged ETNs, as their primary objective is to provide leveraged exposure to an underlying index rather than generate income. Investors seeking dividend income may consider other ETFs or individual stocks that have a history of paying dividends.

Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.

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