Share-split context: A forward split was recorded on Feb 24, 2026 with coefficient 10. A forward split turns each old share into multiple new shares and lowers the quoted price per share proportionally. Proportional ownership is unchanged at the split moment, so the split itself creates neither a gain nor a loss. The price-return figures in this report are already split-adjusted.

Understanding the MicroSectors Gold 3X Leveraged ETN (SHNY)

What this ETF is trying to do

The MicroSectors Gold 3X Leveraged ETN (ticker: SHNY) is a leveraged fund. This means it is designed to amplify the movements of its underlying asset. According to the provided data, this fund seeks to track gold through a single top holding: SPDR® GOLD SHARES (GLD), which makes up 100% of the portfolio. Because it is a leveraged product, its price movements are intended to be much larger than the standard movement of gold.

What the numbers show

The performance data for SHNY shows significant changes in share price over different time periods.

• Year-to-Date (YTD): The YTD price return is approximately -41.69%.

• One Year: The one-year price return is approximately -32.95%.

• Three Year: The three-year price return is approximately 267.91%.

Because this fund has a history of forward splits, we use split-adjusted returns to understand performance. In a forward split, each old share becomes multiple new shares, and the price per share falls proportionally. This change does not create a gain or a loss for the investor at the moment it happens; it just changes how many shares you own.

Income and distribution explanation

For investors looking for regular cash payments, SHNY does not currently provide income. The data shows a distribution yield of 0% and no distributions were detected over the last 12 months.

NAV erosion explanation

The fund has a severe erosion-risk flag. This means that StockValueFinder's screening rules detected substantial price deterioration. The fund has an erosion score of 30, which is labeled as "Significant price erosion," and the severity is listed as "significant."

It is important to understand the difference between price erosion and NAV erosion. Price erosion refers to the decline in the market price of the shares. The supplied data is sufficient to evaluate price erosion, but it does not include enough historical NAV-per-share data to confirm or rule out NAV erosion.

Pros

• High Historical Returns: Over a three-year period, the fund showed a very high price return of approximately 267.91%.

• Direct Exposure: The fund provides concentrated exposure to gold through its primary holding, GLD.

Cons

• High Volatility and Risk: The fund is leveraged, which can lead to large price swings.

• Recent Price Decline: The fund has experienced significant share-price declines recently, including a YTD price return of approximately -41.69%.

• Erosion Risk: The fund carries a severe erosion-risk flag and significant price erosion.

• No Income: There are no distributions or yields provided by this fund.

Beginner takeaway

SHNY is a highly leveraged tool designed to magnify gold price movements. While it has shown very large gains over a three-year window, it has also experienced sharp declines in the short term. Investors should be aware of the severe erosion-risk flag and the fact that this fund does not pay out any regular income.